If you listen to it in its entiretity he say they are hoping to raise cash and the purpose of this is for their other drug GGTI which they must find the trials for and are aiming for a 1st Half 2015 start
But he goes on to talk about how cheap they are several times and that with newsflow he expects the stock to rerate in the Short Term
So again I think it would be foolish to raise now at the lows when they dont need to (doesnt mean they wont but I think it would be foolish)
What he needs to do is do some investor roadshows so that people realise they have 2 Phase 1B/2 Cancer trials funded by the US National Cancer Institute and the US Department of Defense
Having such high caliber supporters behind their drugs is a big validation of the science
Even at 20c this would only have a $10m market cap and still leave it as the cheapest cancer focused ASX Bio
PTX Price at posting:
11.5¢ Sentiment: None Disclosure: Held
