I may come across as angry to you because the pump crowd over...

I may come across as angry to you because the pump crowd over here are continually praising these guys like they are gods. They've got some property guy corner stoning each raise, Meanwhile they've only managed to get their asset(s) to beginning a ph1 trial. There's a looooooooooooooooonnnnng way to go, the CEO has applied for ZERO shares in this recent CR to add to his already large amount of shares, being NIL. Meanwhile, soggy retail support has allowed the "underwriters" their share in the CR, while helping themselves to a 6% underwriting fee (discount), so they got to take care of their rich mates. This company has manufactured some kind of credibility here judging from the posts, however no amount of me trying to see the positive spin has swayed my judgement that this is a lifestyle company of the most expensive order, of which in ASX biotech, there are MANY (unfortunately). So yes, THAT makes me angry.

Coughing up 750 mil odd for a phase 1 company puts it in the comparable category of say a pre rev company like CU6 in market cap, or OPT (who is in a TH for a PH3 b blockbuster readout). Like for like, can you really compare? All these guys hang their hat on is their TAM, and for some unkown reason, seem to think their asset is more "de risked" (which is a thing for repurposed or reformulated drugs only).

I may be wrong here, but this is at best a 2% total portfolio position if you were to buy into the story.