Yeah, it was oversubscribed and well supported. This is awesome news.
Some of the risk has now been removed. This is very good news for CHM holders.
From the CHM term sheet under near-term catalysts and imminent newsflows, there are big red capital etters saying " IMMINENT INTERIM CLINICAL TRIAL DATA- Dose level 2" WRT CHM CDH17
Above that, it says recruitment has 10 patients waitlisted to receive dose level 2, and the 4 patience of dose level 1 have been completed.
CHM now has the money to get dose level 2 underway. We have seen dose level 1 achieve great safety and stable disease in what was rapidly advancing cancer.
Now the coffers have enough money to get sufficient data, and still maintain ASX obligations, the share price will be able to run if we get good news.
A very important pivot point is about to be reached. We have seen Dr Bec do an amazing job of finding $5 million of Finance ($4million of which was undilutive), so I am confident she has also already laid the groundwork for a partnership, when we get another three patience dosed (if the data is good) as is reported in an article posted earlier this week.
Nothing is ever a sure thing. But this raise has now removed a lot of the risk towards the CHM investment.
CHM Price at posting:
0.8¢ Sentiment: Buy Disclosure: Held
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