It could have obviously been done at a higher price post results...

It could have obviously been done at a higher price post results but there is already liquidity problems so they probably did it down here to give greater trading liquidity in the future. As we can all see there is very little either side which makes it not as attractive to some funds and sophisticated investors in being able to take a strategic position for the longer term future. Everyone knew the results were coming and had adequate chance to top up in the market over the last 6 weeks, there was every opportunity to do so.

I thought they would do it higher but to be honest if they raise $20m+, there is no doubt this will be over subscribed so people will have to go into the market for a position to top up not to mentioned other investors jumping in on the back of results. You cant blame management for securing the companies future ahead of results, this was trading at 54c on the 23 March and they are now raising significant money at $1.30. This will be realistically the last chance for anyone to get set at a lower price with a significant stake before they release P3 results when the company will be saying they have a drug going to market.

I've mentioned this a few times but PBH did the exact same thing and it went on to hit a $6.50 high. We are talking about only 75-80m shares on issue post placement and some still locked up in escrow for a while longer plus the management holdings. These Soph's and Insto's if we get the right ones will soak up anyone who wants to sell up post placement and drive the price higher. There is only so much stock around at the end of the day.

For all the unhappy comments you should feel lucky that management have provided a company where a drug will actually make it to market, its actually a 1 in 1500 chance that a drug makes it to market! And IXC is all but a certainty given if the results are good, re purposed drug in Orphan status and can be the only person in the market for the next 7-10 years...

Again just look at the peer comparisons of CUV and PAR, we re still a country mile off being fully valued and not to mention we will have $30-40m in the bank so enough money for the next 2 years...so its a now or never moment really!