Here’s the thing2 Apr 2025 23:43
Lots of wailing and gnashing of teeth on this board, just because there was a mere 75% discount on that placing. Really??
I would really like to argue with that, but I can’t, to be honest. Like everyone else, I thought that the Stalicla money would come through, now they raised $17m+ in funding. That, plus the circa £500k in the bank would get them through the next 9-12 months.
I was stake building on that basis. I was up to 1.76% and feeling very pleased about it, until the bomb dropped. I can well imagine how Robert Kight felt. I was just on a much smaller scale. After I came back down from the ceiling, which took a few hours, tbh, I started to have a word with myself. More like a blazing row, really. In the end, my logical brain defeated my bruised ego and trashed pf.
Why couldn’t they wait for Stalicla? Why couldn’t they raise less? Why couldn’t they have have a smaller discount? It’s almost as if they didn’t care about the PIs, no?
Then logic kicked in. I have no idea what Stalicla has a problem with, unless, it’s because they can’t start a SFX-01 trial, if they don’t have enough funds? I have a figure of a $56m raise, from somewhere in my brain. So maybe the issue is them getting the cash they need to fund the trial and they are waiting until it’s secured? TBVH, I wasn’t happy with the way answered the Stalicla question, but I can just about understand it, if he is on a promise, as you might put it.
So, what about the amount raised? What’s wrong with a million quid? Well, that million quid lets them kick the can down the road for a while, but then we are all waiting for the next raise. At a lower price, then another? I gather that the amount raised SHOULD be enough to get OX-1 produced to an acceptable standard and in sufficient quantities, to be used in a clinical trial and to get to the END of the clinical trial. I don’t think it’s for over-inflated boardroom salaries either. I’m sure there has been a few haircuts there, to justify getting that amount of cash.
The other aspect to be grateful for is that there are NO warrants to hang around like a bad smell!! Look at the recent PHE placing. Huge discount, plus warrants, so I took the placing, flipped the shares and got 20m warrants for £200. Valid for three years, if I remember correctly.
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