Jeeps, It's tempting, I'm not sure the market will react as...

Jeeps,

It's tempting, I'm not sure the market will react as badly as it did last time enabling you to pick up some stock cheaper on market.

Last time they raised cash was August 09, bit of a different environment, the stock market had bottomed almost 6 months before but it was one of the most hated rallies of all time, many were expecting it to turn back down, pundits were still debating whether the great recession had ended or not. That's a long way of saying that it was a bit more of a risk averse environment compared to today. Today biotech is coming back into vogue, risk appetites have come back some.

If POH came out with a raising at say 10c I don't know if the price would dip below that on market as it did last time. It might have the effect of putting a floor under the price if the perception is, as others have suggested, that this go round will be enough to see them through to a cash flow positive position.

Personally I don't see it based on cosmetics and mastitis, just won't have sufficient momentum by then. However, there is also the chance of another deal, CSL is the big unknown for me, agree that oxy is still a ways off for a deal.

If POH make noises about not needing another raising after this one, then I might have to come back in for another bite, but I suspect they'll just tell us they're raising x amount for the already announced projects. In that case I'll just sit on my hands for while.