The money raise, as explained in Menlo's press release, is designed to pay for continuing clinicals---stage #3 of our next pipeline drug. While some will shudder at the very thought of an equity sale, I know it's how money is raised. It's surely preferable to piling on debt, wouldn't you say?
If you read the release, you'll find it all explained. Also, our company makes it altogether clear that there is sufficient funding to meet company expenses through 2021 which, right now, seems like a very long ways away.
There are some folks who may have missed the PR or simply didn't want to get bogged down by critical fundamentals. Regardless, I'm in the hunt for two thousand more shares. It's not a lot of money... hardly more than $4,000. Still, I want to protect my cost basis which is currently $1.81.
So, then, I'm eager to see if the market hands us a favorable deal in the morning. However, and it's a rather large "however"---there's increasing media pressure building as a direct result of our drug #2's FDA approval. While one would expect shares to gain perceived value immediately in a knee jerk response---instead we got a jerky response which I certainly didn't knee would be the result. lol
It's a case of me being the idiot. But I refuse to remain stooopit for long. So I'll be in the hunt early in the morn.
By the way, I don't have the link immediately available nor time to look for it but Seeking Alpha came out with a fairly good round-up on MNLO a few days ago, concluding it's deeply undervalued. The author also states he is holding a position in this fine company with unlimited potential.
Color me "SOLD" on Menlo. I've got a very sweet gain sitting there and I see opportunity for early retirement for those younger than I and who are prepared to weather the storm which---ridiculously enough---isn't even there! But not everyone will see opportunity banging on the door.
Good fortune, everybody!
