@velo The long downward move over the past two years is demonstrated by the support in mid 2018 becoming resistance in October and December 2019. However, the August low of 160 has not come into play in the recent decline. A higher low is the first step in moving out of a decline.
Agree that those who subscribed to Primary BId will not be able to sell shortly before Jan 20th but LO will be selling as soon as the price reaches a certain level. There is hardly any difference in the price they paid last year to what they paid last week, so the can sell some of the shares they acquired last year and replace it with the shares they will get in mid-January. I suspect they were selling some today when the price got to 15p.
This is all about lacl of supply. PIs who subscribed won't get their shares till the end of Jan. They cannot forward sell until just before. That leaves LO with shares from their previous subscriptions. Anything above 12p is fair game for them.
It will interesting to see tomorrow how much of the offer was not taken up by LO. LO get a warrant of 1 for every two shares they have subscribed for exercisable at 40p. Positive news that it closed early, and also good to see that TW recommended it.
I also mentioned the key issue of greater efficacy when compared to placebo in my message on this board on Sept 12th 2019 but I am not crowing about it. This had been the problem for IMM in April 2018. IMM are now having to another Phase III trial. The main cause of ED is old age, as Dr. Hellstrom pointed out in his conversation with Ken James shown on here about a month ago: it's not in the mind. FUM would be well advised to look at how STX got Ferracru accepted by the FDA. They first got in accepted in Europe and then in the USA.