Vascular Biogenics Ltd (VBLT)

[Pyrrhonian]

Hey guys, sorry about the loss.

I shorted this yesterday. Think they will likely trade near or below cash within a month, maybe sooner. Ovarian probably won’t read out for 3 years minimum, provided they can enroll it adequately now (sometimes a failure in one indication, especially if it’s the only indication rigorously tested, can impede future enrollment in other indications). Between now and then a lot of dilution. Cash burn is about $7mil a quarter, and by my estimation they have around $45 mil in cash right now.

I think a $30mil - $50mil market cap is what the market will grant here. Or $1.15 - $1.50 per share.

I’ve researched other companies with similar pipelines and they had some visible price stability days after the failure but within a month succumbed to another wave of downward pressure.

GL however you trade it.

Cheers