Replies to post #88285 on Biotech Values

[MTdinanM3]

Agreed, CGEN will likely dilute shares very soon

Cantor Fitzgerald's pump job today set the stage for their "client". There was a 424B5 filing on 10-30-09 designating Cantor as their placement agent, to offer and sell an aggregate of up to 6,000,000 shares (not to exceed $20 mil). They have 28.6m shares outstanding, so assuming they dilute the full amount that represents over 20% of the S/O.


http://sec.gov/Archives/edgar/data/1119774/000117891309002587/zk97422.htm

[DewDiligence]

CGEN raise done:

http://finance.yahoo.com/news/Compugen-Raises-Gross-bw-1397804173.html?x=0&.v=1

[wallstarb]

Actually CGEN seems to have just sold shares right on the marekt - interesting - havent seen that from a crap bio. CGEN traded average 20,000 shares a day for the last year or so - and their PLAN to raise cash was to try to sell 4m shares directly into the market? They annoucned this "controlled equity offering facility" on Oct 30 2009. Interesting price action and timing of their sales and manipulation of the stock as they dumped 4m shares into it. Seems very sketchy and a very contrived move for non news (silly deal with PFE with little/no upfront cash)