A perspective to be considered is current share price is in some respects irrelevant in the short term. Mostly short-term share price is a hot button to push to manipulate weak hands into giving up or becoming discouraged.
If Anavex is successful it will be worth X factor. The share price in between the market revaluations do not matter except one can add on a regular basis if they believe it will eventually reach development stages leading to commercialization. One can not determine or time when the market will assign a greater value nor can one be assured at all that it will succeed. If one assumes that Management is in the ballpark of 24 months of sufficient cash then one would assume there is about at least a 9-12 month runway before more cash is raised by share issues.
If the share price at that time is higher than our buy-in prices then it should not 'feel' like dilution relative to our buy-in share prices. Even is it is relatively dilutive at that time if share prices subsequently rise we are still good.
Someone Sagely posted if Anavex dilutes just add more shares. In other words, count your investment as a percentage of outstanding shares vs the eventual market cap potential instead of the highly volatile current share price. This is a development speculation company, not a Blue Chip dividend payer.
Long Anavex, Voting for the Current BOD.
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