Contrafect Corp (CFRX)

[HDGabor]

Retiredceo,

Small market cap. Some cash on hand. Sniff of legitimacy on message boards. It’s like Amarin was when it was $1 lots of years ago.

Cash:

- September 30: $50.2 M vs June 30: $58.3 M ... a $8.1 M decrease (9 months was "net" $25.6 M decrease)
- It is enough for "6" quarter, till end of 2021. Meanwhile the interim analysis will have extra cost, the CF-370 R&D will be "less" as

CARB-X (Combating Antibiotic Resistant Bacteria Biopharmaceutical Accelerator), a global non-profit partnership dedicated to accelerating antibacterial research and development, is awarding the Company up to $18.9 million in additional non-dilutive capital to progress its second product candidate, CF-370, an engineered lysin targeting Pseudomonas aeruginosa (P. aeruginosa), in IND-enabling activities toward future Phase 1 clinical trials. This award provides initial funding of $4.9 million, and ContraFect could receive additional funding if certain project milestones are met. Any funding beyond the initial $4.9 million is at the sole discretion of CARB-X and subject to available funds.

and

it has entered into an initial funding agreement with the Cystic Fibrosis Foundation to investigate the potential utility of DLAs against resistant Gram-negative pathogens which afflict Cystic Fibrosis (CF) patients. The first stage of the agreement will profile funding for the in vitro activity of ContraFect’s next product candidate, CF-370, an engineered lysin targeting Pseudomonas aeruginosa, and amurin peptides, against bacterial specimens obtained from CF patients at different stages of disease.

... definitely enough till interim analyis.
- No question: they will raise cash the "next" day of the interim result (The last raise was in May ... $52.5 million, before deducting underwriting discounts and commissions and estimated offering expenses Public Offering and approximately $3.0 million in a private placement transaction with Pfizer

Legitimacy:

- Pfizer invested 2 times, owns app 4%
- "13F" shares were 15.665 M (56.33%) ... Top five owns app. the 38%
- Insiders own app. 5%
All together: 65+%

like Amarin: I am fine with $25+ in Q2 based on interim announcement

Best,
G