Money in the bank.....Insmed raising capital. $9.77 Congrats to Lewis and Company
The offering was done now because money is cheap and interest rates are rising fast.(witness the recent bond market activity),and was priced to ensure the offering would sell quickly.......
You raise capital when its available to you,not after the FDA requires Phase3 trials or the stock market takes a serious hit this fall ...Small bios with no revenues get killed in strong downturns no matter how encouraging you think arikace may be..............The offering price of $10 dollars reflected the reduction in possible revenues in the United States.According to Wedbush,(lol) -Arikace for CF,the US would have accounted for 2/3rds of revenues in 4 years.......It's a mute point, I assume being discussed by the ignorant.
Exactly\\ too much hot money piled into the bond market over the past four and a half years, encouraged by Fed policy. And now the same investors who piled into bonds are getting crushed. So they're yanking money out by the truckload. It's as simple as that. It was now or never for Insmed. Mr.Lewis had no choice.The price was lowered because the results were lowered.