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Liminal BioSciences Inc. PFSCF


Primary Symbol: LMNL

Liminal BioSciences is a biopharmaceutical company focused on the discovery and development of novel, small molecule drug candidates for the treatment of patients suffering from fibrotic or inflammatory diseases that have a high unmet medical need. Liminal BioSciences operates on an integrated basis from our talent hubs in Laval, Quebec, Canada, and Cambridge, UK. Our common shares are listed for trading on the Nasdaq Global Market.


NDAQ:LMNL - Post by User

Post by Tar005on Oct 15, 2020 1:15pm
221 Views
Post# 31721872

Wowser !

Wowser !At current prices, LMNL is more than 50% lower than the price it was at when it delisted from TSX and only listed on Nasdaq.  Price then was around USD 16.  Current share price is also one third lower than the rights issue list price of CAD 15.21 (around USD11.50).

This drop in LMNL share price is happening AFTER the company filed the BLA with the FDA meaning some (retail) shareholders still believe that that LMNL shares are worth less now than during the above mentioned events and after the FDA filing.   

Targeted Timing for the various milestones are still well within the company expectation :

Ryplazim® BLA filed on September 4, 2020, PDUFA date to be confirmed
Expected PDUFA date, pending FDA confirmation
Potential monetization of PRV, if granted by FDA on successful BLA approval
Launch in USA, if approved
Anticipated initiation of additional clinical studies
Potential marketing collaborations and patient access for Ryplazim® in selected ex-US markets
Q3-2020

Q1-2021

2021

2021

H2-2021

2021-2022
 
Above is from LMNL presentation and is the targeted timing for Ryplazim. 

Other product candidates targeted timing are for H2-2020 and H2-2021.

The Financial Position of LMNL was disclosed as follows :

As of Sept 15th, 2020 (in Canadian $, unaudited):
Drew down LOC $29.1M from Thomvest, 10% interest, payable quarterly, matures Apr 2024, repayable early without penalty

As of Aug 31st, 2020 (in Canadian $, unaudited):
Cash balance of $13.6M
$10M of long-term debt from Thomvest, 15% interest payable quarterly, matures Apr 2024, repayable early without penalty
Potential proceeds from sale of Priority Review Voucher (PRV) if Ryplazim® is approved and PRV is granted Potential collaborations being explored for both Ryplazim®, if approved, and fezagepras
Common shares of 23.4M with additional 2.4M options and warrants outstanding
   Thomvest currently owns 71% (65.5% fully-diluted) of common shares

Above shows that LMNL is not expecting to raise any financing short term and (am assuming) will review what needs to be done after the FDA approval and review, which according to LMNL targeted timing should be Q1-2021 (or earlier).

Do what you will with the above mentioned information.  GTLA



p.s  Disclosure :  I am still buying and averaging down. My next bids swaiting to be filled are now at USD 7.50.

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