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Palatin Technologies Inc. Message Board

  • c78596998785 c78596998785 Jan 25, 2013 7:49 AM Flag

    raising cash - cont of the prep thread

    I would expect that PTN would repeat past behavior if it were to return to the well for more funding. Last time they went to the well and the stock price was below a dollar they executed a 1 for 10 reverse split. They stated that raising funds was more difficult whan the shares price was below a dollar. Item 4 was added to the 14a filing 3-22-10 paving the way for the R/S.

    I'd be surprised to see the shares drop below 50 cents...

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    • I think it would be a bad blow to the present shareholders to do a reverse split unless they needed to do a reverse split to maintain their AMEX listing.
      Stocks that do reverse splits are usually looked at as having a poor business model and their stock prices usually go down significantly around the time of a reverse split.
      Doing a reverse split to raise funds is a bad policy.

    • The only reason I see them raising cash in the short or medium term is because they are proceeding with more bremelanotide. Their current cash position(~$30M) covers their current burn rate(~$5m/yr) for over 5 years. They may have a couple million uptick in expenses for preclinical or P1 work on PL3994. But still, nothing to cause massive spending.

 
PTN
0.85-0.02(-2.13%)9:34 AMEDT

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