I withdrew a post I had written about the possibility of a reverse split because I (we) just don't know enough about our float, and that could have a major bearing on the subject.
For example, with the NIH working on a draft of our ACTIV-5 trial results, that will be very telling. Will the draft show that lenz performed very well against the 30 pre-specified secondary endpoints? Will the draft recognize the severe limitation of the trial, posed by excluding patients in ordinal scale 4, an early stage treatment group of hospitalized patients with confirmed indications of covid and pneumonia, and who were hypoxic?
Public realization of a negligently-designed ACTIV-5 trial, and a case cohort study of patients who were excluded if they were early-stage patients, coupled with statistically significant performance against the pre-specified secondary endpoints, could cause regulators, both here and abroad, to conclude that the variant agnostic lenzilumab deserves either an EUA, or full approval.
If the company's shares that have been issued, but are not in the float, are primarily beneficially owned by company insiders, positive regulatory action could generate well over $300M for the company (11M shares x $25+).
So we'll know better if we see announcement of a new Controlled Equity Offering, possibly this week.
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