it's truem, SC- no La Jolla. There are so many of those...

it's truem, SC- no La Jolla. There are so many of those "US-based institutional funds" that have been the ruination of our Aussie biotechs. If I was a conspiracy theorist, I would say there is something to that (I often do wonder). The 5.3c placement didn't seem too low, but 4.7c seems shocking. I wouldn't be surprised if the company makes an ANn saying that due to "shareholder feedback" they will be doing a retail raising, too, under the same conditions (meaning they got calls and yelled at by shareholders).

The only way is up at this point? It seems shareholders are just selling out in desperation (I know how they feel- I did the same when I sold PYC last time), however, given there is a placement, a broker will at some point intervene, imo. SI's do keep the share market money flowing, so brokers have to look after them.