The 2022 SPP and attached Options was to fund clinical trials and if successful, secure a commercial partner
The recently released Annual Report notes that there is doubt about the Company as a going concern
In the webinar accompanying the last trial results announcement, the CEO discounted the likelihood of a Capital Raising and considered the exercising of Options as the most efficient and likely way forward
These Options expire in a few weeks and the CEO has not provided any guidance regarding the likelihood of securing a partner before the expiry date. The AGM has been scheduled after the expiry date
Given the previous guidance, doubt about the Going Concern and the role of the Options on the future of the Company, Shareholders and the market should have been provided further guidance on the likelihood of a partnership being secured by now
IMO the absence of any update constitutes misconduct, particularly given the critical timing of the next weeks on the Company’s future
If you haven’t complained to the ASX, now is the time!
(20min delay)