Ann: Trading Halt, page-91

I'm a bit surprised by this. They are well funded for progression of current studies, though the OnCARlytics program will have added to their future cash needs. Let's see what the explanation is on Thursday morning. The last CR raised $24.6m through 683m new shares to SI's at 3.6c a share - a 19.8% discount to the SP. Retail investors didn't get a look in, which caused some entirely reasonable unhappiness with posters here on HC - myself included! I really do hope they listened to that last time, and that any CR will include a parcel for the very loyal retail investors.

They can raise cash far more easily now. At a 20% discount - around 26.5 cents - they could raise another $26.5m by issuing just 100m more shares.

The down side is that this tells us a partnership deal is not imminent, or they would not need to raise more cash. Unless accompanied by good news, or a clearly defined need for extra cash which will clearly add value, this will cause the SP to stall for a while, as it did last time.

The upside would be the same as last time. Imugene would be massively well funded, leaving them far less vulnerable to low ball take over offers and in a far stronger negotiating position on partnership deals. ie. If/when a deal is negotiated, Imugene won't be desperate for cash and they can knock back initial offers and hold out for a better deal. Assuming the current trials all keep progressing well, a successful CR would (in the longer term) provide a strong base for the next round of SP growth. ( As it did last time, after an initial phase when the SP sank and stagnated).

If this is just a general cash grab, with no clear new goal, how you react to that all comes down to your personal investment timeframe. Short term it's probably bad and annoying. Longer term it's probably good.

I wonder if they are contemplating starting a Phase 3 trial for Her-vaxx on their own? That would be a huge commitment.

Well - all we can do is wait till Thursday and all will be revealed....

Cheers

Dave