Yes I will be taking up as much as they offer.I am hoping it is very close to the low point, again following the strategy of averaging down.The Edison report said that $6 million was needed over FY 15-16, and it is clear that PTX would dilute severely existing shareholders if this took place.
They have elected to raise only a small amount enough to cover the the early part of the acute myeloid leukemia trial as this is the big one.It is being keenly followed in the USA as there is no long term solution for the disease and PTX has a possible solution to it.The fund managers in the USA will not hop on board a $3 million MC but they will a $30 million MC company.
So the strategy is to keep the news flowing clearly hoping for plenty of positiveness especially in relation to the leukemia trials.The SP clearly compounds down with lack of news giving the company a poor image like there is not much going on, but it can compound the otherway and this is critical to the next CR being at a substantially higher price.
PTX Price at posting:
7.3¢ Sentiment: Buy Disclosure: Held
