So I'll continue on my own here for now :)
As noticed, Gamida issued a raise for some 30 to 34 million dollars, dropping the stock down 31% yesterday.
While as per my last post this was an expected move to make prior to any Phase III data or BLA filing, I was expecting this to happen in about late Q3 or early Q4.
As per their current company presentation they had enough funds to carry them through to about June 2019, with the additional injection of 30-34 million at current levels though would have enough to get them to about June 2020 well past Phase III data and probably into BLA submission. But perhaps another raise prior to any potential approval.
However if Phase III results prove positive, which all data points seems to indicate would be the case, then clearly a raise at a high SP will have limited impact on shareholders.
Additionally, one must remember that having Breakthrough Designation means that should the company choose to exercise it's right to pay for and use the priority review voucher as part of the designation then it could be granted approval within 6 months of BLA submission.
I would also assume that management decided to do a larger raise at the current price point rather than in about Q4 when logically the SP would be lower than where it is now, thus more bang for their buck and hopefully in the long-run, less of hit for shareholders.
As mentioned now following this raise I will be tracking this stock more closely and await a most opportune time to get in. At circa 200 million is already seemed a good buy, now at 128 million (or 36% lower) I believe it is in a good spot to buy, however natural market dynamics I believe will continue to push this down for a while longer.
