Algernon Neuro - Why would anyone invest in it?Algernon Neuro has a $20M pre-money valuation and the almost $2M in debt and trying to raise $10M since beginning of year. Meanwhile Algernon Phamra has $2.4M valuation today and would control 75% of Algernon Neuro. Now the disconnect is that does anyone believe either company will raise the capital? Is it time for new management to step in and save this or do the 2 companies have too much debt (Algernon Pharma with millions now in debt? keep in mind they have an ATM in place and soon as there's a bid they'll likely sell shares to cap any upsize here, desperate times requires desperate measures. And dont bring back Dr. Williams, looks like his new company Marvel Bio also has issues raising capital. They announced plans to riase $1.5M and could only bring in $1M with half from the ex-broker and now CEO Rod Matheson.
Thoughts?