Hmmmm...this concerns me a bit.
If this is such a good story, why is this coming out at the same time they're looking to announce further price sensitive data on the recent test results.
However, if this is such a good story, I would be very unhappy if this offer was not made available to existing shareholders.
Also, If this is such a good story, and they're in discussions with potential partners, why are they scratching around for a piddling $50m with a heavily discounted capital raising.
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