GLTO 2.30 - Galecto Publishes Results Showing Safety and Efficacy of the GB0139 Inhaled Galectin-3 Inhibitor in Hospitalized COVID-19 Patients on Standard of Care
6 months ago any 'covid' news would've sent a stock like this into orbit...but not now? Weak market, I think so? Sign of corona-kookout's waning, sheesh I hope so!
Anyway, I added this morning - GLTO trading at less than 1/2-cash with covid news...
GRAY 1.32 - adding heavily here. My crystal ball is showing they should retain approx. $2.70 cash at the Q1-filing all the way down the road in May/22.
How can management, between now and then, ever tout their own stock again while publicly unwilling to buy it at less than .50cents-on-the-dollar?
Upon closing, shareholders of Cend will receive approximately 60.5 million shares of Caladrius common stock, subject to certain closing conditions, resulting in the shareholders of each company owning approximately 50% of the combined company. The transaction values each company at $90 million, which for Caladrius represents a 136% premium to its market cap as of the market close on April 26, 2022.
…About Cend Therapeutics
Cend is a clinical-stage biotech company focused on a novel approach to enable more effective treatments for solid tumor cancers. The CendR Platform provides a tumor-targeted tissue penetration capability to specifically enhance drug delivery to tumors. Cend is also applying its technology to alter immunosuppression selectively within the tumor microenvironment to enable a patient’s immune system and immunotherapies to fight cancer with greater effectiveness.
Although equity in the new company will be divided 50/50, I consider this a reverse-merger insofar as CLBS is the company being valued at a premium to its current valuation.