RE:Big Picture..Chry200030 ... Agree.
Different time, different level now. Maturing to a higher level (50% into a pivotal phase 2, higher efficacy %s than competition, higher efficacy %s as we dilute the first 12 undertreated, applying for a FDA designation, entering into discussions with big pharmas in 2023-2024, booth at AUA, etc ...).
Next round of financing will be with a different audience as plans for NASDAQ uplisting will be more than legitimate, given where we're at now with this NMIBC treatment and with the efficacy %s that we have now, FDA designation at reach and discussions with big pharmas.
Viking Pharma went from 2.30$ to 21$ (9x) in 1y, raised 250M$US capital @14.50$US. Now trading at 21$, for a market valuation of 2B$US.
You don't go discuss with big pharmas in advanced discussions with nothing in the kitty. And to upgrade to the NASDAQ, you have to prove you can raise capital and you have to have liquidity for the market for big players to step in. Key players (brokage firms) can bring us there, just like they did it with many others, when you have the technology that is perceived to be disruptive.
19,828,300 shares of its common stock at a public offering price of $14.50 per share, which includes the exercise in full by the underwriters of their option to purchase up to 2,586,300 additional shares of common stock. The gross proceeds to Viking from this offering are approximately $287.5 million, before deducting underwriting discounts and commissions and other estimated offering expenses.
William Blair & Company, L.L.C. is acting as lead book-running manager for the offering and Raymond James & Associates, Inc. is acting as joint book-running manager for the offering. BTIG, LLC, Oppenheimer & Co. Inc. and H.C. Wainwright & Co., LLC are also acting as bookrunners for the offering. Maxim Group LLC, Roth Capital Partners, LLC and Laidlaw & Company (UK) Ltd. are acting as co-managers for the offering.