When PETX pulled the secondary, that is usually a share price destroyer for awhile as everyone and their uncle knows it is coming. Probably should have let it fly and let the recovery begin right after.
Maybe you are right, Biotech Researcher, but selling at giveaway prices burns forevermore as I see it.
During a now forgotten earlier real estate collapse, the inlaws had my wife's grandmother's house on their hands with the usual quick buck artists offering a few thousand for houses formerly going for hundreds of thousands.
Despite screams of pain from other heirs they improved the property with a view to renting it if necessary to get a decent price from a recovering market. As it turned out, the particular energy crisis ended in the twinkling of an eye as the imaginary Arab Oil Boycott was exposed as pure fraud.
PETX has done it right IMHO but not nearly as well as scientist and financial wizard Mike West who is growing cash and IP at a furious pace with a constellation of beyond futuristic biotechs.
At an annual meeting in NYCity an angry shareholder hogged the floor crying over giveaways. Would that all others could get rich with such charity.
[I have deliberately omitted any link to avoid any shoutout to an extremely risky situation but an interested party can easily find and judge for himself.]
Getting back to PETX the fund raising has not ended but has only avoided the ugly headlines with a more measured private means.
Good on them, I think, but we are deeply biased by what Galliprant has done for our dog that was in a desperate situation.
We can only buy Galliprant mailorder with a prescription and here is a downbeat comparative assessment from our supplier even vs. a generic [note, for a primary example, the "stiffness" rating}:
Huh? What? We figure our little darlin' would be history without Galliprant. What's going on?
Very simple:
The Empire strikes back. Disruptive technologies are particularly unappreciated in our newly plutocratic economy IMO. Eli Lilly will overcome as a prominent part of the oligarchy.
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