It's a good update and newsletter but as much as I like to see the Peptidream comparison I'm still not really sure how management make it comparable and then put it to the markets inefficiency. I think the point is with any comparison Peptidream where able to secure backers willing to put it out there - they raised in excess of $50M by offering 10-15% of the company. Phylogica on the other hand have had great difficulty in achieving anything even marginally close, moves for capital have progressively become more generous and more dilutionary even while avoiding retail investors and going straight to SI's whom one would think are where the big dollars would be pulled from.
At current price it's looking like those CN's are going to translate to 46% of the company excluding options and for a grand total of $1.6M already received in comparison Peptidream raised in excess of $50M for 10-15% of the company.
It's as much about the business strength as it is about the science for a successful listed company.
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