Good post Tony.
Couple of things I gleaned from it.
In my limited experience the words “excess funds” and Bio companies never seem to fit in the same sentence.
One of the limiting factors in investing in bios is their continual need for funds and therefore subsequent dilution.
The CR funds were stated for use to advance their programs. Now Bio spending across the globe hasn’t gone down anywhere, in fact there’s a bit of a boom going on therefore spending is going through the roof.
Therefore it’s a shocking look for a developing Bio to announce that they’ll be buying back (trading) shares that they received double the amount for 6 months ago.
Im staggered you guys don’t feel like burning their office down.
Cheers.
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