RE:RE:ShortersPersonal,
Below I've attached a couple paragraphs from Beacon securities report following analyst day. Might be of some comfort for you? Seems to be widely know that PLI is being shorted heavily and the shorters are currently driving the share price where they want it!
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Perhaps the major concern of investors and the cause of the recent share weakness is the balance sheet. With ~12 months of cash at the current burn rate, the market is pricing in the risk of another equity financing. We believe such concern is premature as the upside risk of a partnership (both on Pg and PBI-4050) is real. Such an announcement would quickly reverse the current malaise and could also result in a significant short-covering rally.
During the analyst day in New York City last week, the stock started to drop (from $2.83 to $2.63) as soon as the company posted a slide about its proposed UK manufacturing expansion, which could add 600,000 – 1 million litres of capacity. Such a facility would almost double ProMetic’s current capacity. Clearly there was/is concern about how the company would pay for such a UK facility on top of all of its other R&D commitments.
Garth