Yes and I think it has a very big chance of succeeding mate, I have read more and more recently about the trial, about the way two two drugs work together and individually. The more I read the more confidence I have in this program. On top of that I have huge confidence in the people we have attracted to run the trial, and Robert Clark who has been around for 2 years now and has had a huge role in the trail design. Keep in mind he is about 15/15 with getting FDA approval for the drugs he has been involved with. He is also the VP of regulatory affairs for the biggest pharma in the world. Also keep in mind, none of the board have gone anywhere.
The recent documents Incannex filed give them the ability to raise money up to the levels noted. What I think will happen is they raise 5-10 million dollars, (yes it will dilute us all and yes I wish it was at a higher price). The 5-10 million together with about 6-7 million due in R & D (this is in note 3 on the last quarterly) should give us enough money to get results from the 1 month phase 2 OSA trial.
If those results are good and I expect they will be, my guess is we lodge for breakthrough designation with the FDA, which with Robert Clark involved and the team Joel has put together is a very big chance of being granted.
Raising money in the USA seems different to here, for us it will mean liquidity, it also mean some banks/funds will get set. Once they get set they often initiate coverage, so if we get good results later in the year, our SP should look very different.
If you want to look at the raises Compass and Mind Med did earlier in the year, they doubled the number of shares on issue, and the SP's all improved.
The important thing is, 42x or 675a work or if they both work, we are talking billions in value, that is why I initially invested and that is why I still am. Like everyone else, I have my days, but I strongly believe in what we are trying to do here.
IHL Price at posting:
4.1¢ Sentiment: Buy Disclosure: Held
