General Comments / Chat, page-9807

Even if we don't raise a cent via the bonus options, the Phase 1a/b trial is still fully funded and the company is funded through 2026. All that will happen is we won't fund the investigator sponsored AML trial. This I think would be a loss for the shareholders, but Race will still be moving forward in cardioprotection and m6A RNA in solid tumours which is where the main market is to be found for bisantrene.

More importantly the bonus option can't fail given the piggyback options. We have been advised that the bonus options can be underwritten and so any options that are not taken up by existing shareholders can be reallocated to sophisticated investors who know how to value the piggyback options. On this, I would personally take every bonus options I can get my hands on in any underwriting scenario.

If I was a new large investor interested in Race I would be worried that between the bonus and piggyback options that Race will never raise again. If we can get to 2026 with the SP above $1.25 then we will be fully funded to run the Phase 2 trial that can get us all the way to accelerated approval. Race is not your normal biotech company.