Thoughts on announced offering? I was just shown this deal, anyone with any thoughts on it? Is it tied to Algernon pharma, that’s been huge loss and mess and loss of investment. Marvel appears to be running the same “repurposing” story that Algernon ran and now looks close to being dead.
This offering is to pay $1M of debt, $360k deposit on a safety clinical trial and fund salaries. Phase 1 safety studies don’t move the share price needle. They’ll still have $700k in debt. I don’t get it, if they hit the $1.9M min offering size there wont be any science completed. They are likely $5M+ away from any efficacy data in patients with disease. Why would anyone invest in this, maybe i'm just missing something important? Would be great to get a discussion going