RE:Is it unheard of to do an offering......🤔Yes. That's what a Board is supposed to protect shareholders from. There was enough grief from shareholders on this last deal that I would assume the Board is sensitive to any issues around dilution. This company uses small amounts of mid term share options for incentives. From what I have seen and heard so far, I do not think the CEO is of the mind to "sell-out". He is on the younger side and has a very solid runway to move his pipeline into commercialization over the next 5-10 years. I find it far more likely they will find partners for both regions they don't wish to build sales or manuf operations in and for indications they deem to be smaller or mid-size markets, or in areas where they may need another firms expertise in either the science or manuf to get a product over the line into commercialization.
Similarly, if they suceed in one area, they may be willing to "de-risk" another area by partnering up on it. Those all make sense to me for a 25 year old company only now possibly breaking through (we hope!). By doing all that, he can be assured of realizing the most value for himself and shareholders and be in a situation like SeaGen or Immunomedics where if someone wants to buy you, they need to pay top price for your science and products.
An alternative view may be they wish to become a true Canadian/Quebec success story and will look to raise money on their success to seed other ventures coming out of the Universities there that others may not look at -- like what they did with Katana. There is room for more Canadian biotech successes for sure. If they're astute, they may find or become a go-to biotech for researchers there. Lot's of good science happening in those universities.
Dcutter101 wrote: In order to provide shares for your employees and bankers, before you sell out to say, PFE, as was my prediction, when the new CEO was hired from PFE. Stocks price action and insider buying suggests news is coming