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Birdstone

04/07/14 7:49 PM

#3197 RE: Birdstone #3196

Fortunately or unfortunately, ATRS is the only stock I own at present. I believe in the long-term growth story and will continue to hold. But I'm at the point where I would be just fine with a buyout anywhere north of $5. I'll take my money and get out of the market. Let the big players bend someone else over.

We had a secondary offering in Oct 2012 at $4. It's April 2014 and we're 17% below that price. Were we that overvalued to begin with? You've got companies like MNKD trading at north of $2B valuations. No revenues, no products even on the market. And here we are at $430MM, $70MM of which is cash. So $360MM for a product (Otrexup) that may very well do that number in revenues a few years from now. Plus $20MM in existing revenues. Epipen next year. QST and Pfizer OTC in 2016. QSM and more in 2017 and beyond. We're likely to be profitable by Q4 this year.

$360MM for all of that. Basically 1.5x peak revenues for Otrexup and no value for anything else.

Wow.