Just two months ago, the company was trading at $2 and was highlighted on the ****** show. Many raised concerns about the need for funding. This is just one of many capital raises (CR), with the first one coming at half the price. The company has safeguarded itself with a CR for at least six months, as they are running low on funds. Those familiar with the biotech/pharma industry understand that it requires hundreds of millions in capital and many years of waiting for regulatory approval. Over 90% of biotech startups fail, and less than 10% survive, with only a few ultimately commercializing their products and achieving sales success. If you are new to pharma company, check ACR, MGX,CAN, IBX history.
LTP Price at posting:
98.5¢ Sentiment: None Disclosure: Not Held
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