I believe this was a chicken and egg issue. Investors wanted to make sure issue would stay listed and NYSE wanted to make sure the money was going to be there. I believe it is settled.
Things to look forward to:
1) Sales Guidance
2) Partnering outside of EU
3) Development of protocol for US Trials
4) Partnering on U.S. trials
5) Initiation of Tauropharm lawsuit
6) Label expansion into oncology
I many of these events will occur by year's end. Do the math. This one is unloved and underfollowed. If they fail to execute over the next 6 months, I strongly believe Elliot will push for an enterprise sale. I also believe the company is likely worth at least 3x current market cap if sold.
Risk of delisting is gone. The $3mm should give them enough breathing room to get Neutrolin produced and get the product selling.
We have the continued support of existing investors. I only see upside from here and we are still under the radar. I think when they give some guidance on sales and give an update on the path forward for Neutrolin in the U.S. we will really start to move. Until then keep buying on the dips.
I assume the existing investors who took out their check books have more insight as to the near and mod term future then we do. I think given Tauropharms inferior formulation, they should have an easier time getting market share in the dialysis space. Oncology sales may occur ("off label") even without approval but CRMD cannot market to that indication.