IMUGENE CHART. TA only, page-18410

"No they did not, especially when the company remarked many times that there wasn't a need for it. Can only operate on info supplied. At least we learnt never to rely on anything coming out of that office."

Slick, I get where you're coming from on this.
But...
1/. "There wasn't a need for it." Right now. But there will be in the future (from 2023) as IMU's burgeoning pipeline gets into serious trials. Particularly if you want to maintain full control.
2/. There aren't too many CEO's that will state publicly that they need cash, before they raise it. Especially in biotech world. Say that and your share price tanks, obviously. Mgmt's statements need to be interpreted for what they are.
3/. Hopper mentioned the raising "also provides flexibility to add complimentary assets should attractive opportunities present." That's new news. They are looking at opportunities to acquire. Car-T?
4/. We are in a downtrend market, arguably a bear market, despite the recent bear market rally from June low's. Mgmt have the opportunity to accept $80m to further strengthen an already healthy balance sheet, from two major institutional investors. As others have posted, mgmt's prime responsibility is to ensure the on-going financial stability / health of the enterprise. I say take it while its being offered, particularly when the outlook is uncertain / volatile.
5/. I thought the addition of the options was unnecessary but if it was the usual raising of this size via a broker, there would have been a substantial cost to pay. And a likely weak secondary market post CR as the inevitable traders locked in their 10% profit - which is not what we are seeing post CR thus far (I'm sure the two buyers would know how to borrow stock, if they wanted to).
All in all, this CR was unexpected and hence there is a bit of a sour taste in some mouths.
I think on balance the positives far outweigh the negatives.