RE:RE:$2 Million Cash On Hand Makes This A $1.20 Stock @ BestSubjectively the Mona Lisa is said to be worth $850 Million USD.
A piece of art I personally wouldn't buy at a garage sell.
Objectively, we know AGN stock traded at $2.50 USD.
Hence, with massive dilution in the offing a $1.20 USD is not far a fetched valuation.
They plan to raise $9 Million USD.
At $5 USD per share that's 1,800,000 Million newly issued shares.
Add 1.8 million shares to the current outstanding shares of 1,675,000 Million shares.
Total outstanding shares will soon EZ top 3,500,000 Million outstanding shares.
The book runner will also get its pound of flesh and don't let the warrants ever come into play.
The 52 week low of $2.50 USD held a $4 Million USD market cap.
A stock price of $1.20 with 3.5 Million outstanding shares is a market cap of $4.2 Million USD.
Do you believe history can repeat itself in Biotech Stock Penny World?
I Do.