Jev, I don't think $75m is unthinkable either if things go...

Jev, I don't think $75m is unthinkable either if things go according to plan.

My point was simply that the announcement falls more into the expected category than the surprise category and therefore not a catalyst to move the stock significantly higher.

Of course the science is significant, I'm not arguing that. I'm arguing that for the price to move substantially higher you need to see a positive announcement that is unexpected such as a deal with upfronts covering the expensive phase 3 trials.

makattack you might not expect POH needs to raise more than $7m but Southern Cross does, they estimate POH needs approx $18m so your 10% dilution looks more like 25% at current prices, if you think that's immaterial then we have a different point of view on dilution.