yeah the board haven't got a clue. Wonder if they're still expecting retail holders to buy those $0.15 shares.
Obviously people are not expecting Merck to give them the boundary payment at the start of next year.
If you were Merch you'd have to question the sensibility of milestone payment to a company that can't manage itself and that's almost equal to it's market cap.(note it doesn't make sense)
Agree about the price - today is going to be a horror day on the ASX in general. Would not be surprised to $.10 this week..