Hello fellow PTX'ers
I see the other listed player in our sector, Chimeric Therapeutics Ltd (CHM is the ticker code), just yesterday went into trading halt seeking around $18M in new money.
You don't need to be Einstein to work out that this is not the best time to be seeking capital - from this, I think that their share price getting smashed doesn't help us, as a sector participant. And clinical trials ain't cheap, you need to plan the capex on those from a long time out (it's called "budgeting 101"). I've gotta say though that whilst this may have some impact or drag upon our current SP, I think the 2 companies are night and day as far as "how to manage a company well" is concerned.
SYC runs a lean ship, and we spend much of our money on raw materials etc to drive forward trials which then can lead to massive value creation and SP uplift, our wages and consultant fees are lean too. Years and years of cash on hand atm!
I can't say the same prudent spending disciplines apply to CHM. That's why they're coming back to get $$ from the market just one year post IPO.
SP down from 44 to 18 and maybe lower when they re-list.
Chalk and cheese these 2. I'm backing SYC and co, and his ever expanding analogy set, every time.
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Hello fellow PTX'ersI see the other listed player in our sector,...
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Open | High | Low | Value | Volume |
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3 | 145000 | 0.042 |
6 | 477461 | 0.041 |
7 | 247800 | 0.040 |
3 | 130000 | 0.039 |
Price($) | Vol. | No. |
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0.047 | 18686 | 2 |
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