You miss the point - the issue is not the motivation of the mining companies in providing funds to Virax; it is Virax's motivation in seeking funding from mining companies rather than major biotechs.
If management of Virax had half a brain, raising capital from biotechs would have been their No. 1 priority, with capital from mining companies no more than a secondary funding source. Instead, they have channelled considerable time and energy into raising capital from mining cos, yet deliberately refrained from raising capital from biotechs.
Like everying with this company, management's strategy is upside down and inside out. Rather than focussing on creating shareholder value, they focus on not giving it away. The disastrous results of this strategy are plain to see.
Separately, it is now three years since their Phase 11a results came in, and funding has yet to be secured for the Phase 11b trial. A good management team would have raised the funds for the Phase 11b trial BEFORE the results of the Phase 11a trial. An average management team would have done so within 6 months of the Phase 11a trial results. These clowns haven't done so in 3 years, and if they don't do so very quickly, will in all likelihood never do so, due to the company becoming insolvent.
But if you feel I am too harsh and Virax is a well managed company, I suggest you pile in.
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