Chart, page-4337

Mate, it’s not about whether dilutive or non dilutive CAN succeed, it’s about whether the market as a whole (not me, not you, not RYZYN, not meph, but the actual wider market) are going to be happy with continuous small CR’s to fund trials (and what effect this poor sentiment would have on the SP). If a CR tanks the price, then the next CR would similarly be raised at a lower market cap, diluting the price even further. To remind you, I do actually agree that a CR would be alright if we only had one trial to fund - however the new indications, MS trial and FDA tox trials will require significantly more capital.

Also, IMU is incredibly overvalued for what they have and a terribl example of a company to aspire to - they literally move the goal posts within their clinical results (using 80% CI’s rather than 95% as per standard; reporting one and then two sided CI’s in the same data set etc.)

I’d draw on @NittyTrades and @Mason14 to give you further insight into why IMU should not be used as any kind of aspiration for ANP or any other AU Biotech.