They only raised 20M, less than 1 quarter of spending. If you believe the SP is in the pits due to speculation of a capital raise.
That speculation has not go anyway. If anything has now been validated. The BS rumours of an imminent commercial deal appear to be just that BS.
They purchased 3 months of time with this mini raise.
Azercel results are due by June 2025, being the only thing that can truely change the fundamentals. Capital raise will be due by June 2025.
The dynamics remain the same. High chance trail outcomes will be delayed. High chance the company will continue to raise cash at discount/dilution to existing shareholders. No overall guarantee of the success of Azercel.
$280M market cap for a company still seeking phase 1 trials outcomes, whilst being out of cash. Is not screaming a buy for me.
DYOR. IMO. Not advice.
IMU Price at posting:
3.6¢ Sentiment: None Disclosure: Held
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