Enzolytics Inc (ENZC)

[foxi]

Well,

We're left to guess whether SAGA would get the ITV-1 exclusive license, most of ENZC's management team, and any future profits from a big chunk of ENZC's flagship tech. (Notes) Investors might be keeping their powder dry for the SAGA ticker.

Alternatively, if the SAGA deal falls through, big question marks whether ENZC would try again with another SPAC, or be able to proceed with plans for Biogenysis and Virogentics in the interim without raising significant operating cash.

High uncertainty, nobody wants to hold a bag. In the meantime, there's been sell pressure from bears, shorts, maybe Savov, maybe the company.

Such as we have $250M+ deal on the table, but our MC has done nothing but sink since it's announcement. We're now trading at a MC that is roughly 1/2 of the $250M. Doesn't make any sense at all.