Here we have another woeful biomedical company that has promised much and delivered absolutely nothing other than misery to share-holders. I do recall there being much of a rabid hullabaloo about them some time back.
With some predicting great things for OXB. But as usual it all came to nothing.
With a rights issue/placing now certain to bring the sp down to 5p it’s a wonder that they’ve currently only dropped to 7p on the news. A massive dilution for ordinary PI’s with no light at the end of their production cycle. I can’t see any benefit to any stock-holder here that’s unless you’re on the board creaming in pay and expenses.
A real rabid dog of a company this one and any one telling you any different is speaking with forked tongue or is infected with Rabies.
I’ll spell it out STAY WELL CLEAR of this shambolic company there’s more bad news to come and the sp is destined to slump some more as they flesh out the bones of the placing/rights issue.