Yippee! We have the money, page-9

While I respect your opinion, BLT management had two main goals and achieved them both:
1) To raise sufficient capital to complete the current Phase 1/2 trials.
2) To get a Nasdaq listing in order to build BLT credibility; hugely increase market exposure; increase opportunities for greater number and more serious expert analysts to review BNTC than would ever happen inOZ.

If they are confident about the science (and they know far more about how things are progressing than we do) then I can't see why they would be too concerned about giving up ground (financially) to get what they wanted. Similarly, I doubt they are much concerned about the temporary drop in the SP because they know the promise that the longer-term holds

So under the circumstances I think management have done a very good job - afterall they were trying to market a spec share with potential to a market that are rightly sceptical about biotech stuff until there are runs on the board. The fact that Maxim (who are not mugs) managed to get some institutional investors on board suggests to me that BLT do have a story to tell - at least one of great potential.

Okay, no doubt you can argue with conviction they were naive and took what they could get because the current trial results are not in line with expectations and it was better to accept what's on offer before things get worse.

Myself, I intend to enjoy the day and dream of what might be!