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Thursday, November 15, 2012 12:46:42 PM
The way I see it:
1.) The financing is now out of the way
2.) They now have some big name directors / advisors on board with good connections that might help in developing a partnership, including the co-founder of Amgen who stated:
"I have reviewed a great number of technologies in my 45 year career in the biopharmaceutical field, and I believe that MANF could be one of the biggest successes that I have ever seen...I believe that if we are able to further de-risk MANF with positive toxicology studies and early clinical data, the Company's new orphan drug strategy could get MANF to market rather expeditiously. MANF has the commercial potential to become a blockbuster drug."
3.) They have a big upcoming catalyst with histology data being presented in December
It seems that the reason the stock dropped was because authorized shares went up so much, but this doesn't mean that outstanding rose. It was pretty obvious before in their filings that they were going to do a financing event so they would have to dilute and increase authorized share count. So this seems to me to be panic selling. I think Rubinfeld's comments above are more important than a one day reaction in the stock.
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