Baker Bros here. nice find and seems way undervalued:
trading almost half Cash on hand. company in Phase 3. Cash and cash equivalents were $118.8 million as of September 30, 2017. vs $65m market cap.
52 wk. range : 1.60 - 24
Institutional Holdings
74.40% including Baker Bros!
Corporate Update Oct. 26, 2017
Analysis of VELOCITY Phase 3 trial results continues in order to assess the viability of further development of somavaratan for growth hormone deficiency (GHD)
All ongoing clinical trials of somavaratan will conclude by the end of 2017; the VISTA long-term safety study in pediatric GHD will conclude at the end of October; further clinical development of somavaratan in adult GHD is on hold
Dialogue ongoing with Teijin, Versartis’ partner for Japan, as data are analyzed further; J14VR5 Phase 3 study in Japan is being discontinued
Completed reduction in work force of approximately two thirds and further cost-cutting measures underway to preserve cash
Select members of management team retained to leverage clinical, regulatory, and commercial expertise in the evaluation of somavaratan and efforts to identify opportunities to diversify the Versartis pipeline
Cowen engaged to assist in evaluating possible strategic transactions that could maximize the company’s expertise and resources
My posts are my opinion and should not be used as investment advice. Make your own decisions in your stock trades.
