$SYN. Starter 6% $3.12
- I like the cash raise here, company was on fumes with under 10M in the bank. management did a nice job in executing over the last 6 months. Q3 expecting key P2B data, proof of concept SYN-004, billion dollars+ market. Expecting Trimesta brain scan data, post data expecting partnership.
-thoughts on cash raise, some traders disappointed with pricing, I view it differently. Management did exactly what they were suppose to do over the last 60 days. Several pipeline presentations, highlighted SYN-10, SYN-04 and Trimesta. the stock ran up last few days, but that was retail chasing, no way they could price off a two day pop. Management still priced shares above the last two week stock price average. They issued a reasonable # of shares or 15% dilution. 75m outstanding, 90m fully diluted before the raise. The cash will help them negotiate a stronger deal for Trimesta. company may have wanted to partner Trimesta for non dilutive cash, but data release is NOT in their control, data on Trimesta taking longer then hoped, so it was a good raise into strength.
I am looking for a full position, but market has been strong so trying to be careful, will look to add on pull backs.
-BioHunter
