I don't agree. I will agree that the next few quarters are important. If they can get sales up, then they will have nice little vaccine company. Yesterday, they said there is a potential for $500MM/yr in sales. With the expenses under control, that would be a nice EPS.
Of course, I'm a trader, not a LT buyer. So I'd rather see someone buy the company out and we all could just move on.
I noted two interesting things in the past 24 hours. First, they priced the offering ABOVE the price the stock was selling for in the open market. And it looks like people paid it. Plus, they announced $60MM in shares initially, and the final number was $70MM. Add those two together. They have willing buyers at a price above the retail share price and they have more buyers then they anticipated. Humm.
Second, some of those buyers don't want to be identified. The sale of "units to investors in
this offering who prefer not to beneficially own more than 4.99% of our outstanding common stock following the consummation
of this offering" caught my eye. That is interesting. Could it be that someone interested in a BO is taking a position and plans on buying more later, when they convert? We shall see.