reality, page-59

Reality is..............

This is the time biotechs make or break

The end of the journey is not a short road

Capital intensive with high cash burn

considerable length of time for the trials final stages

the result of which either makes or breaks companies with only one lead candidate - yes there's more further down the rungs but the value is built into CVac - the others behind it require far greater of lengths of time & wouldn't hold considerable value at this stage.

the one thing any company needs at this point is STRONG bank balances & far outside of simply what's forecast as expected costs, of course raising at prices is not ideal at first glance but it is (in my opinion) a prudent move at this point.


FWIW yes the market has been running like a mad bull for the last 9 months but to simply think it always goes up forgetting recent years is folly. Don't forget who Turnballs husband is - can the merchant see tight credit markets approaching ?