If it does turn out to be a PIPE, my sentiments will be mixed.
On the one hand, I benefited by buying some cheap shares today. On the other hand, as previously stated I am opposed to GENR’s selling shares unless the selling price is at least $6 for common shares or a $10 conversion price for convertibles.
The rumor I mentioned the other day about financing could be true. However, I have seen the traders from financialchat.com terrorize other small-cap stocks based on vacuous rumors, so an imminent financing is far from clear.
At this point, I am probably more concerned about the timeline of the Squalamine program than I am about the possibility of another PIPE. I want GENR to ink a partnership, design a set of phase-3 trials (with any ancillary phase-2 trials in parallel), submit an SPA to the FDA, and begin enrolling patients.
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