Not great, but not terrible. Predictably the market has reacted badly to the announcement. At this rate, the SP will go way below the offer price of 5c a share - so the 13.4% discount to 5 day VWAP may be very ambitious.
The positive - the $7m placement to institutional investors in the US and Hong Kong, hopefully means that there is growing international interest in PTX and hopefully get it away from the cesspit of Australian investors and the ASX.
PTX Price at posting:
5.2¢ Sentiment: Hold Disclosure: Held
