Biota is now to raising U$27m at its recent low prices at a cost of higher than the cost (The independent expert's report: average IPO cost by US Biotech companies is from 15-20%, already including the discount to the share price) of an IPO.
At the time of the merger deal announced first time, Biota was trading at around 94cents. So, Biota management has done (busted or ruined shareholders wealth) it again.
My personal views only.
BTA Price at posting:
69.0¢ Sentiment: Hold Disclosure: Held
