"They have to do something in the next 6 weeks though."
Hence the 37 cent share price.
Not sure where the 15 million came from????? I had it less than that, assuming they could get 1/2 way through Nov on current cash. I think I was thinking 10 million, but to be honest I don't know where I got that from and would have to go back and look. You are a much better digger than I.
Were you using figures from the 70 some employees they now have, after laying off 24? Plus they have had several payments put off, with creditors agreeing to delayed payments. I thought the burn rate had come down to roughly 40-45/yr?????? I guess the difference from 10 to 15 is really not that important at this point as they still need to do something soon. I also expected their Nasdaq meeting news by now.
Total agreement on the possible FDA delays, that would put them in real bind...... but there is not a company in these sectors out there without fda risk.
Then even with approval, they need cash to get the sales force out there and up to speed.
I am buying with an unquantified dilution in my mind already priced in. I mean even if they got to the date, and were approved, then I would expect them to raise cash immediately. For me, it is not an exact science. My initial thinking was it pops before pdufa date, then ride free shares through for better or worse. Realizing that with each passing day that becomes less likely, then an interesting ride lies ahead for sure. Even with substantial dilution at these levels, with approval it is still a big winner, imo.
I like the risk/reward, and certainly understand it is not for everyone. I mean think of Cor, when R and R blasted it with a .30 target, investors were fleeing, things looked bad and I couldn't stop buying it. Sometimes I just have to go with my gut and trust management to steer the ship. Just not with the bread money:-)
I am still adding down in here.
Take Care.
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