Quote LOL, "PW... closed 30M funding in June. Cash on hand thru May 2016. "
MORE VAGUENESS as is the "usual"??????
1) HOW MUCH DID THEY NET??? A TYPICAL, VERY COMMON "PR" would be issued upon SUCCESSFUL CLOSING of a major secondary offering and would read something to the effect:
"We SUCCESSFULLY COMPLETED the secondary cash raise spoken of in prior PR. Upon COMPLETION OF THE OFFERING the final results were XYZ number of share sold at a price of ABC and the underwriters DID or DID NOT take the over-subscription. AFTER underwriter discounts and all fees, we NETTED THE COMPANY XZY CASH to our bank account."
"AT OUR PRESENT CASH BURN RATE of XYZ we project this cash then to carry us through date ABC. IF our cash use increases due to clinical trial spending, then we expect we'll need to do another cash raise by approx date ABC"
$30 MILLION IMO DOES NOT carry this company till May of 2016 unless they're ONLY BURNING THEIR PRESENT CASH USE- which as at least LOSING $7 MILLION plus a qtr as of the last 10-Q, w/o so much as ONE DIME being spent to fund a large, phase II clinical trial.
So something in the May 2016 statement is BS and/or MISSING INFORMATION. If I was a betting man- the part he most likely LEFT OUT of that statement- is they are likely going to TAP OUT LINCOLN for every last dime they can- in addition to whatever they "NETTED" on the $30 million cash raise.
NO WAY they ramp a major phase II and all the contract firms that involves, the enrollment site costs and all the other "contractor" fees and expenses and don't see a major bump up in their cash use/consumption rates.
Again, they're losing AT LEAST $7 million a qtr from the last 10-Q, SITTING IDLE living off of Lincoln, so a $30 mil cash raise is not even 1 yr's worth in parked mode. When the phase II ramps up and those expenses start hitting the expense line- that burn rate's gonna skyrocket IMO.
Just the usual vagueness and speaking in generalities IMO. WAY TOO MUCH MISSING DETAILS in those "one-liners" IMO to get any real clear picture of where they stand financially (WEAK FOR SURE IMO) and where they might be able to get to before another DILUTION ROUND cash raise.
My less than $5 bucks worth, it's a SUB $5 stock AGAIN TODAY, LOL!! "big news" and "audio" and all !
Posts contain only my amateur opinions, personal views and thoughts. I discuss stocks as a hobby only. Always do one's own due diligence before investing.
