I would say our friend David Hastings, even though he doesn't start until 23rd Feb, might have been looking over everything with Alan with regards to company equity and they probably agreed that now is a good time to lock in much needed funds. Much needed as we could contemplate the need for Auto Injector line/s (AbbVie) and Wearables line/s (SNY, REGN?, Medimmune) to be installed at Flextronics soon enough to get ahead of the anticipated volumes they will need. The AbbVie announcement seemed like they were very keen to make sure they lock in exclusivity so they handed over $5m just to keep talking to Unilife and bed down the final details on the agreement.
So with so many lines being needed in the year/s to come (Hikma unifills, Sanofi finesse, AbbVie Finesse + Depot-ject + wearables + Auto Injectors) it makes sense to do this now.
UNS Price at posting:
93.5¢ Sentiment: Buy Disclosure: Held