Many thanks for your email. This fundraise will allow us to complete topline data which is essential for us to drive value and further reduce risk with the product.
We fully appreciate that it is disappointing for existing shareholders to raise investment at this price but we had to raise it to provide certainty to the market that we could complete the Phase 3 programme otherwise we may have seen further share price erosion making the fundraising near impossible especially with turbulent market conditions and without it we could not proceed confidently with the phase 3 programme. This is the most de-risked our products have ever been in terms of development and we are focussed and determined to ensure that the share price starts to reflect this.
We remain fully committed to MED2002 and our pain relief portfolio and the commercial potential we believe exists with those products and now that we are funded we will ensure that we do everything we can to build value and restore confidence once again.
Thank you for your support and patience