I am a little perturbed at the offering price ? I thought the CEO was smarter than that!
But it appears the company wants to lock in the cash/capital when they can. Who knows if a recession is coming which may have made the capital raising environment more difficult.
One thing is for sure now with all this cash, this company will be around for a long time to come (unless a larger pharma snaps them up!) Ultimately, I think they get sold for $300m-ish. Some more positive data over next few months & a partnership should help us get on our way!
Little perturbed ?? What price would you have paid for 12,500,000 shares ? Do you understand what microcap stocks that need $$ have to go through to raise capital ??? ACRX is hardly a household name with access to $$.
Its a shareholder friendly offer. It shouldnt have been any suprise that thete would be a share offering at some point given the time to market vs cash on hand. The $10 million dollar question is what valuation is warranted at this point. As far as Im concerned any company isnt worth a dime untill it has a proven sustainable growing revenue stream. Until then its all a guessing game.