Vascular Biogenics Ltd (VBLT)

[gr8db8]

Agree wcopeland. That's my read as well. For longs that think the price will be much higher, it should not matter if the current price is $6 or $9. If phase 3 rGBM is approved the current price is insignificant.

The offering does show that the company/Dror is blinded to the results. If they knew the results or the number of events for each arm (as some have suggested) then it would not make sense to do an offering now. Passing rGBM phase 3 would significantly increase the stock price and they could raise a lot more money at that time.

What this shows is that management truly does not know but they want to make sure that they have enough funds (whether ph3 rGBM passes or not) to carry out prOC ph3.

It is actually a solid management decision if you play out the different scenarios.