Ann: Trading Halt, page-42

I think they have made a mistake in going for this raising now.

Their thinking is this cash will be enough until Easter, which by that time we would have seen readouts from St Jude and Dana Farber.

I think and in fact have always thought 22 Nov data will be solid (clinically meaningful -same as the FDA approved Novartis Breast Cancer PI3k inhibitor Piqray) - or if you like, similar patient responses to Cantrixil results, released a couple of weeks ago.

Good results - but the way investors usually respond here to positive news, may be very much on the mind of the company.  Company presentations and news of collaborations - Cantrixil results etc overall meet with poor investor response. They have chosen  to get some cash in the bank and take away the possibility of again a poor  response to solid 22 Nov results.

They have made a mistake. I think finally even on 22 Nov news of say a modest but very acceptable 40% patient response -  the SP was posed to gap and move strongly higher. (it is such a thinly traded stock and that would have helped) . Momentum could have attracted interest from other investors AND WE COULD BE ON OUR WAY.


Now that opportunity after such a long wait has been lost. Those that take part in this fund raising are going to be in for a shock. It will gap down and there will be no buying interest whatsoever, for  these essentially stag profit seekers who take part in CR. Maybe just maybe, the company can secure a solid and believable longer term mutual fund (not a hedge fund harvett - please research hedge funds) ….but still no buyers whatsoever.

Our best hope is the US listing and as I said this morning - a bigger party finding this stock and realising the potential - they may happen, but such a shame as even locals and hotcopper types could of had the SP moving after 22 Nov. It won't happen now.  

Very disappointed, they have mis read the likely good response to 22 Nov results which could have seen a raising at plus $1.