Yes a few months back Dr Crombie said they would look to raise some further capital in March but he also went on about how cheap PTX was and that the time to buy was now and this is when the stock was 0.6c-0.7c or 12c-14c so Im thinking he was assuming the share price would be alot higher come March when he was planning on raising funds
They may still raise capital here at the lows but as Ive said given their current 2 phase 1b/2 trials are funded by US Govt Departments their is no immediate need for cash as they still retain $2m+ in the bank
Im not saying theres no chance of capital raising but I am saying theres a good chance if management are serious about building value here they wont do it now unnecessarily at the lows. You speak as if your 100% sure its going to happen now and at the lows and it almost seems like you've sold in anticipation of it
Patersons are always sellers and sometimes just before a big price rise too, take a look at ZIP before it took off and see who were the big sellers at the lows
Either way there is some serious LT value here at such a low market cap and for what they have I just hope management dont unnecessarily dilute at the lows
PTX Price at posting:
11.0¢ Sentiment: None Disclosure: Held
