RE:RE:bought deal why? Today has opened a door that was closed since 2018 or so.
Obviously not a buyout, partership agreement.....yet.
The $ amount solidifies operating expenses well into 2024, even 2025.
What it does not do is cover the cost of a phase 3 trial.
Regarding the big trade? Not sure who, why or what price it was at.
related ? Probably.
My recollection of the news flow back when they did the 9.5/1 R.S.
That was done to allow Nasdaq trading.
within days of thst there was a " bought deal", well under the trading price.
lots of yammering etc.
The shorting drove the price down from $10+ to under $2.
That very year was a spike upwards, near year end.
Crazy stuff.
I'm not happy with todays news. Howevr, I'm certain there is more to come.
OK...enough if the history lesson.
What about now?
As I said before, we can speculate until our heads explode.
The clinical data still has not changed ( as far as we know).
leaving timlines about 40 days of the 90 to finalize an answer around the PanCan invite.
Interesting the bought deal are not direct shares, but " units" ...i.e. not tradable.
Meaning the underwriter is taking a position.
That is probably why the SP is trading above the bought deal $$.
Most important takeaway?
The $15million is not even close enough to fund one phase 3 trial, let alone two.
So , why?
That will unfold over the next few days.
I have no idea , just do know we will know soon.
open note. Once deal closed, they will be sitting on near $2ps in cash.
stay tuned.