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Thursday, October 18, 2012
$UNIS - Leerink Swann Re-iterates Support for Company
The other day Leerink Swann hosted an investor meeting on behalf of Unilife ($UNIS). The company has seen its stock drop significantly since it released an 8K outlining an alternative capital raising method called an ATM (At The Market). This facility would allow the company to raise $45 Million at various times at price that was at the current market. No discount. No pre-announcing. This would help mitigate some of the rampant shorting that has been going on in the stock prior to and subsequently following the company's recent capital raises (current short interest 9MM, down 1MM in last month).

The analyst reiterated his support for a $5-6 price within 12 months. This is based on the feeling that an additional deals or two may be signed very soon. The analyst noted that until other deals are signed that the stock would trade in a tight range. One thing to note is that the company is in negotiations with 50 different companies at present and of those 75% are for commercial drugs and 25% would fit into the generic category.

Since I posted about the errors by Reuters and the misunderstanding of the 8K the stock has started to recover rather well. I see the trend continuing upwards until they get back to the $3 range.


One thing to note is that the company is in negotiations with 50 different companies at present and of those 75% are for commercial drugs and 25% would fit into the generic category.