Wednesday, October 24, 2007 1:06:27 PM
Steve,
It seems to me odds are very high already that they do another PIPE financing. That is why another 75 million shares were authorized. IMO there is still stock to be sold at $.75 and an analyst report (if it occurs) may be needed to help clear it out.
You are betting on Cotara to save the day which I'm sure you realize.
I also noted SK now likes to characterize deal making pursuits as not aggressive but "proactive." Makes one wonder about the viability of the hinted deals they were pursuing in the past.
I don't own the stock anymore but am hopeful they can turn the financing picture around eventually so I can climb back in. Unfortunately, its a grim picture I see and the stock price continues to reflect this reality. Future versions of Bavi/anti-ps are where I see the big value and that is a long way off and requires a lot of $. So if you see it like me you may not be never heard from again but instead lying in the weeds checking in occastionally for the possible turn around. For now I don't see any catalyst thats going to do much for this stock (outside of one day pops on news) for six to nine months at least.
If they do another pipe at say $.40 to $.50 against news and with a probable reverse split they will have another $20 million and have that much more data to "bargain with." Results from Phase II which the Pipe is put against will be good and similar to what we have already seen which means exciting but not blockbuster enough without further testing. Meanwhile some more trials will be dangled out as carrots (bavi with radiation, bavi fused with??, Bavi in combo for Hep C or HIV, preclinical results on future stuff etc.). I suspect many will stay on for the duration which is good since I do hope this company survives and there is an eventual deal that I can latch onto -my own greed. There also seems to be some good science here that needs to be tested and put into practice - that humanitarian thing.
Best of luck and thanks for the reporting
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