What I really don't want to hear from Marucci is a script from the "Small Cap Biotech CEO Handbook, in 6 months:
"We wanted to do this financing so we could NEGOTIATE FROM A POINT OF STRENGTH with potential partners.".
Whenever I hear such a thing, the first few things that cross my mind are:
1. I am being lied to;
2. This CEO is likely incompetent;
3. They're not even close to partnering bc they either want too much, or no one wants to take a bite.
They'll probably be close to $65 million in cash (or less) ending September quarter. And around $50 million for the Decmber quarter. And $50 million in cash is when you start getting scummy hedgefunds like Adage Capital et al to play their shorting games because they know a financing is coming.
At least they have SABC in Decmeber, and, it's likely IMO, they finance then. I still do not buy this bit that they are in big talks with multiple partners (they prob ARE speaking with multiple parties, but the other party hold all the cards, especially when theyre dealing with an inexperienced CEO who has never had success in Phase 3 planning, follow-through etc). I have heard that from just about every small cap bio CEO - and, about 20% of the time, it plays out.
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