TROMMY'S MISLEAD
WOW! May 17th Liminal disclose the financial statement and the MD&A of Q1 2021.
They werte proud to annonce their R&D with PBI 4050 in IPF and Hypertriglycemia. 11 days later they annonce that everything werfe put on hold because of bad PK data results.
Read that !
LAVAL, CANADA, and CAMBRIDGE, ENGLAND –May 28, 2021 – Liminal BioSciences Inc. (Nasdaq: LMNL) (“Liminal BioSciences” or the “Company”), a clinical-stage biopharmaceutical company, announced today that based on interim pharmacokinetic (“PK”) results from the ongoing fezagepras multiple ascending dose (MAD) study, the Company has decided to stop its plans to move fezagepras into a Phase II clinical study in Idiopathic Pulmonary Fibrosis and a phase Ia/IIb study in Hypertriglyceridemia, as it evaluates the impact of the PK data profile observed in the on-going study.
We have to conclude that Liminal has nothing in the oven to generate cash flow in short term.
May be in the next 6 months they will have $70 millions from voucher but they still have $45 millions of debt, heavy burn rate and nothing to generate short term incomes.
Tommy... explain to me the deal with buying these shares?
A company with $30 milliuons net value ( cash minus debt) without any short term project, never worth X10 ($300 millions market cap)
This company still has $5 millions a month burn rate and generate no cash flow !!!???
IT'S PURE MIASLEADING !!!!