Replies to post #139389 on Biotech Values

[dav1234]

i found that strange myself,no dollar amount to be raised or number of shares,and the timing is less than stellar

[hirogen]

It’s odd that the ONTY announcement does not specify the number of shares to be sold, even though it’s an underwritten financing:

This is the 2nd interim financing within the past year. ONTY had $66M in cash at the end of 2011 and mgmt recently said they have no plans for near term financing. It's been reported on message boards that someone found in an analyst report a vague reference from Kirkman about "overwhelming equity" leading to great debate as to whether this is a standard or ultra conservative share allotment boundary.

All the above of course is good natured satire. The PR language for the latest financing is consistent with the one they did last year.

http://ir.oncothyreon.com/releasedetail.cfm?ReleaseID=573006

http://ir.oncothyreon.com/releasedetail.cfm?ReleaseID=573166