I see where you&rsquo re coming from, but there&rsquo s another way to look at it for iX Biopharma Ltd..

 

Short-term price movements like jumping from 33c to 45c in a few days can look &ldquo orchestrated,&rdquo but that kind of volatility is actually quite common in small-cap biotech counters&mdash especially when there&rsquo s new funding or corporate activity like a placement. These events tend to reset the price range rather than represent the final ceiling.

 

On the placement point, doing it around ~42.5c can also be interpreted positively:

 

.It shows investor willingness to come in at a higher base, not at distressed levels

 

.It strengthens the company&rsquo s balance sheet, which is critical for biotech execution

 

.It provides funding to push commercialization (which is where real value comes from)

 

 

Regarding the CEO and his wife holding below 30%, I wouldn&rsquo t read that negatively. In fact:

 

.A ~20%+ stake is already very significant skin in the game

 

.Keeping it below 30% avoids triggering takeover obligations under SGX rules

 

.It also leaves room for institutional investors to come in, which can support longer-term growth

 

As for &ldquo who will push it higher,&rdquo ultimately it won&rsquo t be trading action&mdash it will be business delivery:

 

.Revenue traction from their drug delivery platform

 

.Commercial progress in key markets

 

.Partnerships or licensing deals

 

If those fundamentals play out, the share price will take care of itself over time.

Another positive point:

The directors are also taking 304,270 shares instead of cash fees.

 

This is usually seen as a good sign of alignment because directors are accepting shares in lieu of fees, which may imply they are willing to stay invested in the company&rsquo s future upside.

 

In simple words:

management is willing to &ldquo eat their own cooking&rdquo

 

This often gives investors some reassurance.

 

TP still intact.