Replies to post #214047 on Biotech Values

[dangerM]

CLSN ... since my last post is older than 15 minutes I have to write here:

http://investor.celsion.com/releasedetail.cfm?ReleaseID=1037320

Of the balance sheet total of 30mn, what are the
6.5mn Accounts payable and accrued liabilities and the
13.8mn Earn-out milestone liability
?

With cash of 3.6mn at 30 june 2017 and past quarterly cash burn of more than 4mn this will very certainly mean some dilution (and it's painfull to look at the increase in the share count from 1.7mn to 6.6mn fully diluted shares within a year).

I would like to add "I do not like their financing structure" in my previous post :-(

[semi_infinite]

clsn - They did a raise back in August for $5M at 2.07 that came with 2.45M warrants exercisable at the same price months post raise. And another 2.45M warrants exercisable at 4.75 immediately. So outstanding shares+warrants is around 14.5M. They now have some flexibility to shore up finances if rebound in share prices stick.

[dangerM]

https://www.sitcancer.org/2017/abstracts/titles/late-breaking

Today the SITC* 2017 late breaker _titles_ (not the abstracts themself) have been published (* Society for Immunotherapy of Cancer).

https://www.sitcancer.org/2017/abstracts/titles/late-breaking

Interestingly, from the companies quoted in my previous post Inovio and Oncosec had late breaker titles. Inovio for INO-3112 and Oncosec for their only lead product in development.

Sustained complete response to nivolumab in a HPV16+ head and neck cancer patient after treatment with MEDI0457 (INO-3112), a DNA immunotherapy targeting HPV16/18

Clinical and biomarker analyses of a phase II study of intratumoral tavokinogene telseplasmid (pIL-12) plus pembrolizumab in stage III/IV melanoma patients predicted to not respond to anti-PD-1

The market reactions are somewhat educative. There's actually no reaction in Inovio's share price to a complete response (ok, they partnered with MedImmune and are definitely no volatile microcap, but the share price even fell). Whereas Oncosec (a microcap!) had some not so insignificant within and after hours volume and (as a microcap) gained on details of study with known results.

(again, no endorsement to buy or sell)