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Celsion Corp. Message Board

  • ejaleo ejaleo Apr 26, 2013 4:16 PM Flag

    Griffin securities has excellent report on CLSN dated 4/23/13

    Griffin surmises Thermodox was successful and could get FDA approval after some futher testing and analysis of results

    Sentiment: Strong Buy

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    • The Company has ample flexibility to set a new strategic direction. Celsion closed 2012 with $23 million of
      cash on hand, and subsequently received $5 million from Hisun and raised $19 million from common and
      convertible preferred stock issuances. As a result, we figure the balance sheet had about $46 million of cash at
      the end of the

      The Company raised $19 million via sales of convertible preferred shares and common stock after
      announcing the top-line data from the HEAT Study. (Those financings increased the number of common
      shares outstanding to 54.9 million, after conversion of the preferred stock, but without taking into
      consideration exercise of warrants granted. The 5-year warrants, which have an exercise price of $1.18,
      could add another 6 million common shares to the total common outstanding.) The $46 million of cash on
      hand as of March 31st should provide management with sufficient flexibility to consider various strategic
      alternatives including development of ThermoDox and the acquisition of other drugs/technologies

      We believe Celsion is in a position to consider an acquisition that would diversify the R&D pipeline and
      thereby reduce the risk associated with any one drug under development. Given the Company’s current
      market capitalization and the cash on hand, management should have an attractive group of acquisition
      candidates from which to select.

    • I read it!!! Easy to find on Google.

1.57+0.08(+5.37%)May 25 4:00 PMEDT