RE: thoughts....My concern of yesterdays events (sufficient that I unloaded half my shares).
The PP seems very oddly timed and not reflective of any previous management statements. As various posters have indicated mngt has stated that after their last PP they had cash for 2 years. So I assume no overriding need for $'s. If mngt had waited for positive results a lot more $'s could be had with much less dilution. I will point you to my largest holding IDB. They did a US $25M placement in May, after positive results published and a +40 run up in share price. Then just did a 2nd PP for $US100M again after positive results published and a +50% run up in share price. Both mimimized dilution and fully within corporate plan and communications. It almost seems as if the mngt of ONC are somewhat unsure of their science.
Secondly, cancelling two presentations in one day, how confusing is that. No specific rule, as far as I know, related the PP would have kept them from presenting. Not showcasing to a big US audience I see as a blunder. CrappXXX vs. UBS, not a very good trade off.
While I don't doubt the ONC science, mngt. to me seems somewhat in need of upgrading. But hey in the long run who knows, maybe they only gave away a small portion of the potential, or maybe it was a great strategic move.