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Compugen Ltd. (CGEN) Message Board

  • suejenseth suejenseth Mar 22, 2013 12:24 PM Flag

    20-f

    The equivalent of our 10k was issued by our company. It is worth spending time reading it especially when you get to around page 26 where you go through the history of the company. Occasionally you might get a little nugget. For example under commercialization it is mentioned that one of the peptides we gave to bioline in 2011 is still being developed.
    It is well worth reading about our platforms leads, meds etc..
    if you do not receive in hard copy you can find in Edgar.

    Peace

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    • May just be my suspicious mind but does anyone think that Cantor Fitzgerald are responsible for some of the "shorting" we have witnessed in the last six weeks...just a thought!!

    • Hi sue...haven't had time to read and only skimmed but agreed sales to Cantor Fitzgerald caught my eye!!!Between 01/10/2012 and 03/15/2013 they sold under this agreement 2.4million shares to yield Gross proceeds of $13.4million. Have I missed something here and what does it all mean!!?

      • 1 Reply to gilliesman2002
      • Gilli, in the first quarter 2012 report the following was disclosed.

        "The March 31, 2012 cash and cash related balance includes net proceeds of $3.1 million from the at-the-market sale during the quarter by the Company of 551,000 Compugen ordinary shares at an average price of $5.93 per share. These were the first sales made by the Company under its Shelf Registration Statement filed in January, 2011, and since March 31, 2012, an additional 100,000 shares were sold at an average price of $6.12 per share, with all sales made pursuant to a sales agreement entered into with Cantor Fitzgerald & Co. in August 2011. "

        Looks like we are getting some under the table dilution of about 500K shares a quarter. I am not bent out of shape on this since I think it minimizes the number of shares needed to be sold and makes sure we stay liquid. Personally I am more comfortable with this approach then a formal stock sale. I think all around it is better for us. However, it should be remembered that it does have a dampening of our stock price. As you read the 20F it becomes obvious that the company will need more money if we are going to take our drugs into clincal trials. I am hoping that for the most part this will be funded by our preclinical deals but till we get one it is hard to say. Also when we do get a deal would not be surprised if we took the advantage of selling some more stock into the market just to insure our liquidity. Again i have no problem to drop a a couple of million shares if the price is over 10. I am not anxious to see small time dilution continue.

        Again i recommend reading the 20F as i read it I had some concerns but then as I read what has been accomplished my concerns disapated.

        Peace

 
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