Didnt James suggest they had a cornerstone investor lined up and were going for 15 million? If that were the case why such a deep discount and why what seems to be a general invitation to invest for less than half that amount. No underwriters either.
I guess the glass half full view is that maybe they just didnt get as far as they hoped with the previous cr cash so were forced to offer discount due to lack of phase 2 results. Maybe minimising raise to 6mil as tham might be enough to get the uti or foot ulcer efficacy results and than raise again at much higher rate when parh to commercialisation clearer.
I really didn't think cr woukd be below 55c tho. 44 is surprising. Maybe the investor they thought they had got cold feet or drove a hard bargain.
RCE Price at posting:
65.0¢ Sentiment: None Disclosure: Held
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