If this is true,,it's actually a positve since it does signal to potential suitors that INSM has
the will, and capacity to move this indication on it's own. Just because they've filed a shelf
registration doesn't mean they will do it....I have seen many shelfs placed in perpetuity.
we can chill.
just read the statement in red text at the very top of the "prospectus", here pasted FYI:
"The information in this prospectus is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.
Subject to completion, dated May 24, 2013"
Yep...as much as I don't like a shelf, they have a place. And, for Insmed right now, it makes sense. I also think it sends something of a signal that they have every intention of becoming a bona fide pharmaceutical company. Perhaps it is early posturing to anyone looking at them. Either way, the shelf does not have to be accessed.
Not to be pessimistic, but there does not seem to be any other source of significant revenue near term to fund ongoing operations until Arikace can bring money in. Licensing Iplex would be insufficient for for their current cash burn, no? I assumed they would dilute.
Still at about 25% of the current market cap, $100 million will hurt. Surely, that's why it came out Friday afternoon on a long weekend. Tuesday morning should be interesting. I hope they have a real sweet announcement to make in the mean time.