RE:Hi sah1 Well TV's greed is on full display again. Under their management and inability to meet milestones, retail has had to suffer another massive dilution.
The simplest and fairest thing for TV to do was to just increase the LoC in September given their poor management of the company since the restructuring.
Alternatively, a loan could have been offered complete with warrants at $5.50. But no, TV does a private equity offering with warrants which no doubt will be exercised following Ryplazim approval. So close to a 50% dilution when the dust has settled.
Interesting that the cash burn was only $6M in September. With $36M in the bank as of September 30th or cash runway to the end of March 2021, why did the company have to do the financing at this juncture? This will look particularly bad if FDA grants early approval of Ryplazim, which is always a possibility.
I would like to know if Consonance is still in the picture? I wouldn't be surprised if it was behind the big sell off over the last couple of weeks. It will be interesting to see the SEC disclosure next week.
I am not a happy camper.