@dolcevita
It is very easy to state something without having to provide any kind of evidence to back it up. When debating with someone as emotional as yourself, I will let my data do the arguing.
But MSB didn't need the money right then, and it doesn't need the money right now! It's a contingency measure which may never need to be used.
I don't agree with your statement.
I believe MSB needs
much more money
right now. In its recent history, MSB always had a sizable cash holdings. Let's go through the history of the cash balance for the past 5 years, as per the annual reports:
2011: $263 million
2012: $207 million
2013: $315 million
2014: $196 million
2015: $144 million
27/07/2016: $75 million ($80 million at 01/07/2016 - $5 million outflow in July 2016)
As you can see yourself, compared to its own history of cash holdings, $75 million is far from being adequate for MSB.
This is even more so when you consider the following:
- Back in 2011, MSB didn't have as many trials in phase 3 as now
- Teva, a major fund provider, had walked away
- MSB share price is the lowest in 5 years, making it even harder to raise cash in a capital efficient way
As for Kentgrove ATM being a contingency measure, I am afraid you are being completely delusional here. It's not a contingency measure at all, on the contrary, it is almost a certainty that it will be used.
In fact, it is not beyond the realm of possibility that the first raising via Kentgrove will take place before the end of the year.
It's not as if MSB would ask a company it's currently in negotiations with, to provide more funds.
I guess we will never agree on this one. I respect your belief that MSB is in negotiations with Celgene. Hopefully, you can respect my belief that they are not in negotiations.
If one day there is an announcement confirming your belief, I will try to be the first one to say to you that I was wrong and that you are correct. Similarly, if one day there is an announcement that unequivocally states that Celgene is not in negotiations with MSB, I hope you would be gracious enough to acknowledge that you were wrong and not engage in further facts spinning.
Also the coy use of 'a certain poster' is hilarious. Can't you just step up and speak directly?
In this forum, you are not the only one who genuinely believes that MSB and Celgene are still in deep negotiations.
So, if you feel that 'a certain poster' is referring to you, then maybe it's because you are too emotionally involved in MSB and are no longer able to objectively assess the reality.
(20min delay)