RE:RE:RE:RE:RE:RE:4 pm PROn the convert, do you think the company could just take the viewpoint that if the stock price has not ascended to $14.80 by June of next year on the back of progress on cancer that the market begins to value, that they would just refinance it with another convert? If so, and it seems reasonable to consider that as an option assuming the worst case scenario plays out of the TH-1902 cancer trials turning up nothing worthwhile, then it pretty much changes the financing question in big way. Also, NASH will likely only proceed with a partner (or via some other form of unusual funding) as the threat to start the trial in early 2022 no matter what was likely just a negotitiating ploy. They likely have enough funding already to start the phase 1b and they would see efficacy results from that pretty quickly, so they could, and probably should, postpone any fundrainsing for future cancer trials until they see if they have something interesting in cancer (and they may already know they have something very interesting in cancer based on what they are seeing in the phase 1a results).
So, from my perspective, the cash situation is far less dire that you think. Let's hope the company sees it the same way! In the end, if cancer looks great, then partnership money will be easily available and the whole issue of raising money will be less of an issue because they can access it via partnership deals if desired or a combination of share sales at higher price points (due to the favorable cancer prospects) and partnership money. If cancer works, everything is easier. We should know some important evidence about that before too much longer as the phase 1a has to be close to its end at this point and it has gone on long enough to show some efficacy in those patients who had sortilin overexpressing tumors and lived long enough to measure an impact.
If TH-1902 bombs out in the trials, there is still a road forward in cancer. If there is promising research still being investigated, there will still be some hope for TH and therefore ways to acquire the needed funds.
It will be interesting to see what the new corporate presentation includes or does not include and we should be getting the new one soon as they will have to post one prior to the meetings with larger shareholders in a little moer than a week.
palinc2000 wrote:
Cash is king but unfortunately all the cash on hand is owed to holders of the convert with a shortfall of over 20 million !!
Nash clinical trial cost is over 100 million and Sort 1 platform in the tens of millions at a minimum.Add to that cash for working capital ...... The best case scenario was a partnering deal for Nash ,,, fantastic results in Phase 1 with a SP north of 10Usd combined to a substantial rise in revenues ftom legacy drugs....None of the above have yet materialized ...I am not throwing the towell as I dont see much downside from here but I see more and more limited options for the company to dig itself out of the hole....At the time of the options grants on Dec 1 I said that the only acceptable ethical reason to grant options in Dec rather than March /April was if a take over was in the cards ..... Of course not many here would be happy with a take over in the short term but in the end this could be the best solution for a company starving for cash
Wino115 wrote: If capital is raised prior to trial news and at a low price, we won't be the only disgusted shareholders. Soleus's two largest holdings have been crushed -- Bioatla is down form $40 to $12 and C3 is down from $50 to 30. They will not want to stump up more money and they will want to see this company maximize the share price, not crush it. They are now on our side of the equation.
The ideal scenario is 1a or 1b interim read gets share closer to $7 -$10. Do the ATM. Finish 1b and plan the various Phase 2's you are going for as registrational, and then get the full offering out with a solid list of good banks with Phase 2 info and hopefully at an even better level. If they do anything at these sub $5/$7 levels, it will be reflected in the board meeting probably.
houbahop wrote: From November 23, 2021 PR:
Theratechnologies Announces Renewal of Shelf Prospectus and Registration Statement; At-The-Market Facility to be Extended
"...provide for the potential offering in Canada and the United States of up to an aggregate of US $150,000,000 of common shares, preferred shares, subscription receipts, warrants, debt securities and units from time to time over a 25-month period after Canadian securities regulatory authorities have issued a receipt for the final short form base shelf prospectus. This shelf prospectus is intended to give the Company the flexibility to take advantage of financing opportunities when market conditions are favourable."...
https://stockhouse.com/news/press-releases/2021/11/23/theratechnologies-announces-renewal-of-shelf-prospectus-and-registration
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I have a feeling the market is preparing itself for another deluge of shares and warrants.
I might be wrong but the $4.00 support level has been broken and there's not much in the way before $2.50