Ann: Radiopharm Theranostics completes A$70 million placement, page-32

it's worse than that in my back of envelope calculation.

they are offering 3 options for every four shares issued (for any holders who still own their shares at the end of the year).

so say another 1.5billion options at 6c.

so to get substantially past 6c in the next two years means 3.9b fully diluted (if options exercised) at 6c this is a $230M MC. 6c today would be $27M MC.

so basically 10 times dilution on a single raise (amazing).

I get it biotech companies need money. sure lantheus wants in so why not announce the strategic partnership and give people a chance to get excited about it? raise what you need (not 2 freaking years worth of runway). and don't tell everyone that you are going to double the register two months before. of course the price is going to run down. it's madness and I'm out.