Morning Anthony, ACUS have indicated that they see no reason to do a r/s at this point, at least not before meeting with nasdaq.
They have also indicated that they have funds into Nov. 08.
They have also shown a willingness to cut expenses through salary reductions of top management, extended payments that creditors seem perfectly willing to accept, and layoffs.
They are trying to get through the estimated pdufa date for Imagify of 2/09.
In my mind, and this is jmo, they seem to be setting the stage about as well as it can be done, given their funding needs.
1. They keep trying to do a deal, but won't settle for scraps, that Sherri knows so well from her Venture Capital days.
2. Worst case imo; They run their funds down, increase shares, do a r/s, maybe in Oct/Nov/Dec, raise Funds, and then the shorters are left with, "Do we REALLY want to short acus with only a couple months to go before the pdufa date on a 2 BILLION dollar drug?"
It's not like they are in the habit of doing a r/s. But my guess, and I am putting my money behind it, is that the downside of the worst case, is not nearly what it is for the vast, VAST, majority of small, crappy, companies out there.
Imagify is real, it has had its NDA approved by the FDA.
It has 70+ employees, with their hopes and dreams tied to Imagify, working hard in Mass.
It has a real estimated pdufa date for Imagify of 2/09.
It has data on 1000 patients.
Zach's Investment Research, a powerhouse, has put out positive reports on Imagify, and it gives it a 60/40 FDA approval chance.
Reports are that Imagify may give more accurate readings, and LOWER the need for folks to be sent in for angioplasty surgery. The FDA will LOVE that, imo. Imagine a drug that could lower the need to have surgery. That should weigh in heavily with the FDA. A Clear benefit over radioactive methods in use today.
If approved, it will compete in what is currently a 2 BILLION dollar a year market.
I like the risk/reward possibilities.
Take Care.
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