long time investor, 15 years of accounting.
sure, it takes R&D money and it can be rough for the first couple years. but man,this is really really ugly.
legitimately.... how do you expect them to pay off $25mil in current debt (that means due within 1 year) with $3,000?
this will either face extreme dilution or they'll have to file bankruptcy. I've invested in other pharma start ups that have bad finanicals (USR#) for example, but they were way closer to making money and still had far better fins.
be careful here bro
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