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<<So they had $76.5 million in cash as of Sept 30th and have raised $24.5 million since Sept 30th. So they currently have $101 million in cash minus what has been spent since Sept 30th.>>
DILUTION!!! And everyone said the Company wasn't selling shares. SMH.
$101 million cash? You haven't factored in accounts payable and accrued expenses. HGEN had net cash of ~$13 million at September 30th. Thus, the net cash position today is likely around $20 million and that's before the $25 million owed to Hercules.
This all means A LOT MORE DILUTION ahead.
And you all were wondering who was selling... HGEN!!