Not anywhere near these current prices and keep in mind they will be receiving another $3 million AUD from an option holder buying 1 million shares at 30 cents, very shortly because they expire in September.
Prana is in pretty good shape, financially, to get through to the announcement of the Imagine trial results in March. They may need to raise a little additional cash before then, but not much. If the trial results are really good, they'll be able to raise plenty of cash for further trials with minimal dilution.
It actually is. But if an offering provides the cash that forestalls a partnership until the deal is better for investors, just prior to an NDA submittal, the dilution is not necessarily deleterious. Assuming PBT2 pans out, worst case is a big pharma buyout at this point. IMO.
Prana know exactly what they have. they have plenty to get through both sets of results. I think they will do an offering at closer to $20.
Perhaps they will now for safety, but maybe CEO Kempler is very sure of success and there is no escape for shorts this time.