They have said the cash they have (including fro the placing @ 80p a share) will last until H2 2024.
The way I see it is that they need to show steady progress between now and the end of the year/early 2024.
The share price is so low that I should think the investors that paid 80p a share honestly can't believe it. I mean it's 13p to buy as I type this. It need to go up 7 fold for them to even get their money back.
BUT they may do, and more. When Angle got the FDA approval the sp shot up to £1.60 (12 fold what it is now).
Note the sp moves massively on low volume because a large portion of the shares are held by investors and not traded (not many free float shares available).
So why were they able to place shares @ 80p each?
I should think the FDA approval on it's own is worth a fortune.
I believe it is because this deal alone will generat massive profits, but not until next year:-
It's been a long wait but we are over the hill now IMHO...30 Jun 2023 09:31
This latest contract win, days after the results which had no nasty surprises I think will spur the sp onwards and upwards. Frankly probably the best time to buy in......... I was about a year early, or was it more! The sp won't be under £1 much longer IMHO and the "good old days" of the sp being over £5 can't be too far off.
RE: Up to 15 and the Baillie start again... maybe.28 Jun 2023 09:02
Gggg21.
Great post. Worth re-posting:-
"It’s well known BG have been selling across the board due to such dire performance so in a way they have been distressed sellers on a lot of stocks. Most likely same here. Dyor. If they have stopped purposely at 3% then this can recover. The bid and offer kept rising this afternoon after that rns."