"yes.. but they wont do the placing without significant news first, i.e. the SP will be a lot higher before they do the placing, thus they will not flood us with too many shares.."
If the shares are significantly higher that is because they have received the milestone payments everybody has alluded to, then why raise additional funds?. The markets will treat ruthlessly any further requests for funding from ERX. Look at what they done to Aquilo today. The whole purpose of placings is to extract money at the expense of private investors, not the directors or institutional backers.
ERX has led the markets to believe that imminent progress is just around the corner and to be fair to them that IS the job of the PR department. However lies told in a company's results can now send directors to prison. It is for this reason ERX has had to come clean about the length of time before any of its compounds are expected to attract milestone payments and also the need to raise additional funds. The directors can say what they like in private emails and telephone calls.
If I were holding ERX I would be looking to cash in my holdings on the basis of the company's results and their forward looking statements published yesterday.
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