Humanigen Inc (HGENQ)

[cowtown jay]

Are we supposed to be surprised by the 8-K Baudax filed this morning?

More importantly, are Durrant, Dale, and TeraImmune's co-founder, Jay Park, surprised?

These are the steps taken to date.

Jay Park accepts a deal to transfer all equity interest of TeraImmune to Baudax in a stock-for-stock acquisition on June 30th, 2023, the last day of Q2.

https://www.baudaxbio.com/news-and-investors/press-releases/detail/267/baudax-bio-acquires-teraimmune-inc

Black Horse acquires 500,000 shares, a 6.9% equity interest of Baudax, on that same date.

https://www.sec.gov/Archives/edgar/data/1178179/000101359423000580/baudax13ga1-07102023.htm

Baudax files a warning 8-K this morning.

"Management has concluded that substantial doubt exists about our ability to continue as a going concern for the next twelve months."

https://www.sec.gov/ix?doc=/Archives/edgar/data/1780097/000119312523293726/d37178d8k.htm

So are Dale, Durrant, and Jay Park SHOCKED by this 8-K?

My opinion is not worth more than yours. But for what it is worth, I see this last step as just a continuation of our carefully-contrived strategy. I hope that this strategy culminates with more fully leveraging our investment in Baudax, and in announcing that we are accepting a stock-for-stock merger agreement, perhaps with Novavax.

But however it turns out, I don't think any of the players are bemoaning the unexpected loss of their equity or investment dollars in less than two quarters from the time they entered into these deals.