Nexien BioPharma Inc (NXEN)

[Renegades17]

We know they have to raise some capital

Alex has said this and it's obvious if you look at the balance sheet and cash burn (and read the 10-Q). Legal expenses should go down some I suppose given they pulled the CSE application, but they still need some money. Fortunately, they've kept the cost structure low, but that could be hurting progress.

The problem here is that management hasn't sold a vision to the public markets. Alex has tried to do this, but random interviews aren't a substitute for a conference call.

I guess the bottom line is that they need some meaningful catalyst to get the stock price up so they can do a PP and raise some cash. Dilution at this level would be devastating.