RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:New Filing today Going into debt in the first place was and is the most stupidest move a small biotech can make!!
The second stupidest move they made was to repay the first debt by debt under the pretense of 'non dilutive financing"" just to please large shareholders believing that the lottery ticket bought 4 years before would be a winning ticket.... Not only did it prove to be very dilutive and a lot more dilutive than it could have been and turned out to be almost 100% destructive..
The focus needs to be on cash generation and getting rid of Marathon...I think that this is their plan but time will tell
THobsv wrote: All of these comments are fair, they have lots of levers, they should hopefully have created reasonable adjusted EBITDA targets, etc. But we must remember this is a management team that raised equity at $1 to give them the cash they would have needed to satisfy the old cash requirements AFTER switching to an EBITDA target. They are not making smart or strategic decisions. We don't know what the targets are, anything is possible.
The most positive development to me, by far, is Soleus adding 9mm shares and tripling down on their investment. This is a tiny investment for them even after that add, but they could have just walked away. They also own a huge chunk of the company and can have more influence if they choose.
At this point we have to assume management will at best do minimal harm to the business, but shouldn't expect them to make any value add decisions and can't take anything for granted.