PJ offers up a no win scenario. But how does having a pile of cash, no debt and a non-invasive colon cancer test that saves lives, saves money and has no competition lessen your value to a potential acquirer?
No, they were not part of the financing offering. They were vying for it with Baird, Baird won, so Piper downgraded the stock. This is the way business is done these days. Too many I-Banks chasing too few deals. When these small firms lose, they get ruthless.