Buying opportunity
posted on
Jun 16, 2017 04:02PM
I just checked the share price. It's down to $1.42 Cdn. How great is this. What an incredible buying opportunity and I hope it continues to sink.
So if I understood the overnight share marketing there were roughly 5,550,000 shares sold or about 5% of the current float and there were equivalent warrants. This action seemed to result in a drop in the share price to below $1.50. So $.70/share or about $77,000,000 was taken out of the market cap.
This decline happened even though, IMHO, the financing was a minor dilution and provides, at least a bridge to new financing. I believe we expect a 4th DSMB soon and then we have the futility analysis so I certainly understand why some investors might want to get out at this stage. It's a bit like pre ASSURE results. We have no idea what will happen at futility. Add to that the complete lack of communicatiions from RVX and there is huge anxiety. Not for me. I'm long and will take my chances on the science even with 3 pt MACE uncertainty. My belief remains that this is breakthrough science but who knows???
Now that I am thinking about it the pre-ASSURE share price was about $3.30 CDN and the Zenith split reduced this somewhat and then we got hit with failure which took the share down to $.20.
So it certainly leaves me scratching my head but I sure hope the share decline continues, as a retail buyer. However, if it impacts the capital being raised in a negative manner then obviously I don't want to see a decline.
I am sure that Don does not care about these issues. I started to realize a year ago that the stock market is irrelevant to him. I'm sure he just needed a financial bridge and now will complete a deal after futility. If it fails then it is all dead except for the science and IP which will be bought for 10 cents on the dollar.
The good news is that Zenith is protected.
Also, as per SF's post, I too am curious about the stop trade in April at Hepalink?
Cheers abd GLTA
Toinv