Sophiris Bio Inc fka SPHS

[HeresJonny]

Sphs is currently in search of funding for p3 bph and p2b prostate cancer. They have hired and have been working with Oppenheimer on "strategic alternatives" for 190 days. They performed an offering at 4$ and say that have the cash for p2b prostate trial. They have laid off half their staff including CMO and gave them healthy stock options. An important feature of the options is they are set up merger or acquisitions as well. They have also paid off thier loan recently (announced last ER) and took a 300k penalty to pay it off. Part of the loan disclosure was that they could not proceed with any M&A with the loan active. This is bullish. They have added Allison H recently to the board, the seat was empty for a long time. (To conclude a vote possibly?). CEO has sold 2 companies in the past. I believe they are setting up for a partnership with a larger company or a complete acquisition. Tute ownership has also increased from 5% to 30%. Im not pumping buyout, I'm just stating what we know so far. I have been a sphs investor for over 1.5 years and follow the company closely.