There are plenty of similiar examples. It is almost beyond comprehension that TH's stock price was not higher prior to the deal, given the opportunity set they have and the backgrgound of an enormous bull market, and that the terms of the deal aas well as who they did the deal with could not have been much better. If the clinical programs in NASH and cancer turn out to be winners, these failures will cost legacy shareholders hundreds of millions that did not have to be lost. I have not yet heard an adequate explanation from anyone which would explain why this deal was not one of the greatest failures in the company's history. The only adequate explanation I can come up with is the board is very concerned that cancer and NASH will be flops and they needed money to help keep the company alive and move onto the next project. Why else give shares away while valuing the company's two huge opportunities for nothing? Now, that must be incorrect explanation - at least I hope so. But it sure would be nice for the company to explain their thinking on the deal because it sure looks like they were not thinking very hard about it. It would be nice to hear a rational explanation, assuming one exists.
scarlet1967 wrote: This company based in the US went public recently, they don’t have any commercialized drug and seems to be targeting only NASH with their drugs, they are a Phase2 NASH company with some phase1 and preclinical NASH programs. They managed to upsized the initial public offering with the help of big guys in the US. They also have a section in their website (which is better than THTX’s website) re partnership.
They are currently valued at US $417 million, a phase 2 NASH Company with no income, no Oncology programs is valued almost %75 higher than THTX?
“More content below
Terns Pharmaceuticals, Inc.
Thu, February 4, 2021, 6:54 PM
More content below
TERN
+8.18%
FOSTER CITY, Calif., Feb. 04, 2021 (GLOBE NEWSWIRE) -- Terns Pharmaceuticals, Inc. (“Terns” or the “Company”) (Nasdaq: TERN), a clinical-stage biopharmaceutical company developing a portfolio of small-molecule single-agent and combination therapy candidates for the treatment of non-alcoholic steatohepatitis, or NASH, and other chronic liver diseases, today announced the pricing of its upsized initial public offering of 7,500,000 shares of common stock at a public offering price of $17.00 per share, for gross proceeds of $127.5 million, before the underwriting discounts and commissions. All of the shares of common stock are being offered by Terns. The Company has also granted the underwriters a 30-day option to purchase from the Company an additional 1,125,000 shares of common stock at the initial public offering price, less the underwriting discounts and commissions. Terns’ common stock has been approved for listing on the Nasdaq Global Select Market and is expected to begin trading under the ticker symbol “TERN” on February 5, 2021. The offering is expected to close on February 9, 2021, subject to customary closing conditions.
J.P. Morgan, Goldman Sachs & Co. LLC and Cowen are acting as joint book-running managers for the offering.
“PARTNERSHIPS
Terns is committed to expanding its transformative approach to providing patients with access to novel medicines worldwide.
We are interested in collaborators who share our vision and goals, and whose capabilities complement our best-in-class drug discovery and development team.”
https://www.ternspharma.com/our-programs