Don’t know about that GM, in my experience Bio companies raise capital when they can, not when they need to. Sure they’ve got plenty of capital currently and therefore are not in a desperate need but I’m pretty confident that the door is always open to a serious cash injection.
And just keep in mind the the bulk of the short position is well in the money similar to where longs were when the SP was 9 bucks. So it’s the 93% of the registry that the past 5 months hasn’t gone well for.
DXB has shown that BIO stocks can get a second wind, let’s hope CU6 gets another go.
Cheers.
CU6 Price at posting:
$2.60 Sentiment: None Disclosure: Not Held
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