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Compugen Ltd. (CGEN) Message Board

  • acowoman acowoman Apr 22, 2013 9:15 AM Flag

    Baize

    It seems baize gave us the $5 million. I read the 6-K that was released this morning and am having a bit of trouble understanding the new rules. Can't tell whether it is good or bad for us. Though someone kicking in 5 mill without getting it at a lower stock price is relatively good.
    If CGEN does not publish in news release look on Edgar.

    Peace

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    • I have no major concerns re: the amended agreement. The important thing is that Baize came through with the agreed upon capital, and Murray Goldman, Baize’s chairman, is obviously optimistic about Compugen’s future.

      sbh

      • 2 Replies to sbh3117
      • Steve/Den, thanks for the technical side. SInce the stock is up on the news this was a good deal for us.
        SBH of course you are right, the fact that Mr. Goldman has put in $13 million of his money into the stock shows his faith in the company's progress and as Bonds pointed out the warrant price was raised to $7.50 from the original $6, though it should be pointed out that the warrant was coming due in June and the stock was under the warrant price so for him $7.50 later is better than nothing now.
        If I am reading this correctly we have cut the number of proteins that Mr. Goldman can ride for gain and we have changed the formula for shares again, but it still is based on the share price, which I think is positive for existing shareholders.
        Should one of the items Mr. Goldman selects be a homer run, he stands to make a lot of money on his investment as well he should.
        The last presentation had a cash budget component. Well cgen has already met its cash goals before we have even commercialized anything. With Baize and the small number of shares sold in the beginning of the year we should be fine. I would expect Dikla will point this out during the quarterly call.Again I think they have done a marvelous job of manageing cash. Hopefully over the next couple of years our spending will increase as we take at least one protein into human trials and we expand our pipeline based on the new runs disclosed the last few weeks. We will need the upfronts we receive as we begin commercialization.
        I think we are moving into position to have some excellent years, but I have felt that for awhile so let's see what happens.
        Peace

      • new 500 k of warrants Now struck at 7.5 bucks... better for all of us, not 5.5 ....

 
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