Yeah, if they can release positive news in this market , where we are having a rebound in sentiment and good news is jumped on , would be great for shareholders.
However I defineitely wouldnt be surprised if they did use any jump in price as an opportunity to raise. They need cash, and who knows when they can raise again with a somewhat receptive market.
A playbook often used in these small cap ASX biotechs and others is to release a good announcement, let the market re-rate the stock (depending on news maybe we get re-rate to $30 mill assuming positive, which is a share price of around 1.5 cents) then they raise again at a discount, say at 1 cent.
Depending on news, Ill prob be getting out on any decent rise here, 1 cent or above.
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