"The anticipated spend for Q2 FY24 is expected to be at a lower...

"The anticipated spend for Q2 FY24 is expected to be at a lower level to the previous two quarters." - Given Rennie can't even accurately give guidance on expenses for the next quarter, the market has zero confidence in any guidance coming from him.

I'm sure all the new investors who saw the capital raising stating that the $30m would fund this business to mid 2025 CY are also angry at how quickly the finances of the company has deteriorated.

Existing shareholders might also remember how Rennie kept discussing the potential of a regional deal funding the business only a week or two out from when the capital raising was announced. So on the one hand he was clearly organising the capital raising, while on the other parroting the idea that a regional deal was potentially imminent so no such raising was required. So much BS coming from this guy. I still believe in the drug, but have zero faith in management. As many have argued for a long time, Rennie holding the reins as both CEO and Chairman is terrible terrible governance, and the costs spiralling out of control is just more evidence of that.