Altimmune Inc (ALT)

[chenzo11]

Here's my two cents

I believe there is approx. 10-12 mil shares outstanding right now with Novartis owning 2.6mil shares and other institutional investors owning approx. 5mil shares. That's approx. 58-70% institutional ownership. That's a lot. And that's good. IMO, these institutions would not plunk down $12mil dollars if they were not sure this flu vaccine is not legit.

Next, I believe ALT is worried about a hostile takeover by Novartis. Prior to todays offering, Novartis owned 35-48% of the outstanding shares. With a few million more shares purchased on the open market, Novartis could own over 51% of the company. This new offering has changed that.


And finally, this new placement give ALT approx. $45mil in cash on hand. That is a lot of working capital to start production of its nasal spray. In other words they could be going this alone.


12mil outstanding shares is still a very low float, especially considering the Institutional ownership. Do I wish I sold this morning in the pre-market....yes I could have doubled my share count by buying back in and took my gf out for a very nice dinner. But I didn't :( but im not selling.....Im going to wait and see how this all plays out.


Cheers

Chenzo