That (the financing) caught my eye too. In the old days (Internet) one would think a good business strategy would be to use their high priced currency and go on a buying spree. I have no position but would think given their valuation it may make sense (and reduce some risk) to go on a bit of a buying spree in the HCV arena.
If you could expand on those rumor reports it would be appreciated. I've heard nothing to that nature. Most likely VRUS is just taking this opportunity to raise money again because the stock has appreciated so much over the last couple of months along with the uncertain macro economic picture going forward.
Just to play the Devil's Advocate perhaps they are in licensing talks with Roche for PSI-7797 which is quite possible. VRUS obviously wants top dollar for their 2ND generation nuke but the danger is if they ask too much Roche may choose to go hostile. The RG7128 partnership enhances my theory. It would be a quick gain for most VRUS shareholders but a potentially huge loss in long term value from this small company going forward.
A caption in VRUS' PR about seeking an acquisition is something I personally feel is of no interest to them. Some may say they are trying do diversify out of nucleoside analogs but I think not. It may be more of a subtle threat to a potentially hostile suitor. And the money raised is to bulk up so they are not as easy to swallow. A poison pill without taking the poison? If the company came into play anyone want to venture a guess who the white knight would be? My guess is GILD.
VRUS is now loaded with cash: about $150M less what has been burned to date during the current quarter. As previously noted, assuming the underwriter’s option is exercised, the offering of 3.7M shares will increase the number of shares outstanding by about 12%.
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