The company and long term shareholders would benefit from a secondary for sure. What benefits the company benefits long term investors. Management would be negligent not to issue stock at this price level. It might even benefit short term long traders. Verastem issued stock four days ago at the closing price of the day before after doing a stock sale just a month before and the stock rose because it showed Company was moving forward to commercialization and there were no warrants attached. The last 4 days showed VSTM move was well received by the market indeed. If GALT follows that blueprint it could really take off and negate the negative signal insiders gave by cashing in their options and then selling all the stock into the market. The only reason I can think for not issuing stock now would be that they are deep into negotiations for buyout or partnership. All good. I am a buyer after a stock raise. The only reservations I have currently is if they will loot the Company with stock sale with attached warrants to benefit the connected Wall Street operators. The prospects for the Company are way too compelling to have to do anything other than a straight at the market sale with no warrants. If anything else then it would seem like a legal theft from the common shareholders. I am a buyer on a partnership as well. I just want the cash position resolved and I did not like the former managements habit of what I would describe as unjust enrichment and overly generous stock options. Maybe what we saw with the rash of insider options exercise and stock sales was just the unfurling of the golden parachutes as the former C suite executives were ousted. In fact if I were the new CEO I would have demanded they sell all their stock thereby relinquishing voting rights thereby having no voice on the reconstituted BOD. 10X Fund may have been asked to reduce its voting power as well. Richard Uihlein has considerable muscle and has the resources to take GALT private. A complete Coup as it were. Continuing to watch closely.
Secondaries don't drop out of trees, there is lots of work that goes into them before they are completed and the price is usually lower than the current share price and it hurts retail shareholders.
They have NO need for a secondary, they have millions of in the money warrants that could be purchased by insiders to raise cash but they aren't going to do that unless they can't find a partner or a buyout candidate, something that is highly unlikely.
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