Galectin Therapeutics Inc. (GALT)

[biotech2010]

This rights offering is a joke.

For anywhere from $4 to $5.50 you get the following:
-0.3 Shares of common stock (current value is $4.6x 0.3= $1.38)
-1 Warrant to purchase 0.075 common shares with an exercise price of $7-based on the above, the company is valuing this Warrant @ anywhere from $2.6-$4 a share, the stock would have to be in the $35-$40 range for this to be in the money at this price

I'm sure lots of shareholders will unknowingly exercise their rights and get screwed over, not me and not any other shareholder I know personally (I've already had a few look at this and come to the same conclusion).