Reality check

Some of the risks presented in the recent Maxim report which might explain why the stock isn't trading much higher than the capital raising price:

Developmental risk. The company’s products are still in early stages and may never lead to marketable products. There is also an inherent risk in successfully running, managing, and sorting data in clinical trials. The trial designs could change, and the running of the trials could induce errors and delays.
Regulatory risk. Benitec Biopharma must be able to obtain the approval of the FDA before commercial sales of the product candidates commence in the United States. The timing of these approvals is uncertain.
Commercial risk. Benitec Biopharma lacks a commercial infrastructure to support its product launch and commercialization. Good results will trigger increased spending to create this infrastructure.
Competitive landscape. The pharmaceutical market is intensely competitive. Benitec Biopharma must compete with existing and new treatment methods, as well as new technologies for its disease targets. In addition, the company faces intense competition, including large pharma companies, most of which are well financed.
Financing risk. Benitec Biopharma is not a profitable company. While the company has a cash balance today, it is likely that it might need to raise additional capital prior to commercialization. The company’s ability to do so could be critical to keeping the current programs moving forward and providing a value creation event in the future.