Analyst initiates coverage just a week prior to earnings - I don’t recall ever seeing that before. I’d imagine he must have gotten a positive off-line update from Andres recently to put this out. The company has made some commercial strides recently in Germany and Israel but still there are a lot of unanswered questions with such an enormous cash burn rate. $27M in additional ATM issuance ideally offered in the $2.50 to $3.50 zone should theoretically shore up cash needs through Q3 23 while retaining a respectable share structure.
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