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Exactly the dilemma I've been having Paul...I had an order in to sell half my holding at 6.6 yesterday but cancelled it last night cos I decided I had always planned to hold for medium to long term so shouldn't sell any now when news could be round the corner...turned out i'm kicking myself cos my order would have sold at the high of the day...so i'm hoping for an announcement tomorrow morning to make me feel better about that haha.

I sent an email to the CFO asking why the RI wasn't underwritten, as well as expressing concerns about what would occur in the event of uptake not being filled. and this was his response:

"Thankyou for your enquiry, we are working closely with our corporatate advisors (Azure Capital and BBY Limited) to ensure that we are well supported in our Rights Issue.

We are confident we are undertaking this fundraising at a time when there is growing interest in Patrys off the back of the Onyx announcement which will see PAT-SM6 used in combination with Carfilzomib. We also continue to report positive data from our ongoing clinical trial for multiple myeloma.

We have intentionally structured the fundraising to initially favour existing shareholders (who can also participate in the share top up offer). In the event that there is any remaining shortfall this can be placed by our corporate advisors, with other investors, as they will be working towards raising the full $12.5 million."


I suppose his comment about ongoing positive data for the clinical trial was simply referring to the previous cohorts...? Hopefully he's talking about the 4th cohort also though!

It concerns me a little that if there is remaining shortfall after the RI that they will place them with "other investors", who may just dump the shares...

I don't deny this is a nervous time for me...especially since i'm going away in December and am not going to be able to monitor what takes place.

Good luck all