newyork,
I'd rather see small, straight-ahead dilutive deals than giving away a slice of the bavi pie at this point. As data (if good) is reported on multiple fronts, cancer, HCV, etc, I'd expect the mkt cap to increase a heck of a lot more than your typical blockbuster drug co, as bavi continues moving- and growing wider- through the pipeline. It's just shown its first impressive signs in an HCV dosing trial. I would assume big pharma and/or VC's are not willing to offer sweet enough deals, (yet), or want too many "future-related" strings attached to their offers, (like most typical deals for drugs at this early point in the pipeline), hence the small discounted no-strings placement to keep bavi moving.
I also thought the mention of either no more dilutive placements for six months, or- if so, only after pps of $2.50, was nice to see. Much better than the previous placement- where they just said they wouldn't do a placement any lower than the price it went off at for 90 days.
j
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