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OncoGenex Pharmaceuticals, Inc. Message Board

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  • mr_ssssamsa mr_ssssamsa Apr 25, 2012 9:54 AM Flag

    OGXI to present at ASCO in June

    At first I viewed it as 50% dilution also but now I think of it as 33%. If you round a little, they went from 10mm to 15mm shares. Before the offering the pps was a little below $18 so the market cap was about $180mm. To maintain the same market cap with 15mm shares the pps would have to drop to $12, which is a 33% decline. If they had doubled the number of outstanding shares to 20mm, that would have resulted in 50% dilution, not 100%.

    Of course, you could argue that the extra cash the offering brought in should result in a higher market cap.

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