This is old news and is part of the $250 mil shelve registration previously filed. There has been significant share dilution over the past year yet the price per share is much higher that 6 months ago when the stock was trading in the 70 cent range.
In fact, not long ago the market cap here was $40 million and now it is $400 million.
Baird has put a $9.00 price target on the company, and they issued a comprehensive 30-page report. What is significant is that would give VTGN a market cap in the $2.5 billion dollar range. That is only considering one drug, the nasal anxiety SAD PH10.
The phase 3 trial is basically a mirror of the phase 2 trial, so I think the massive institutional buying is based on the thought the odds are well in favor of success.
VTGN has 3 other potential blockbuster drugs as well as offshoot indications for smaller markets.
It has been a long haul with VTGN, but CEO Shawn Singh hard work, locating and buying additional assets for the portfolio has put the Company in excellent shape for success
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