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Cyclacel Pharmaceuticals, Inc. Message Board

  • celticsruleunlessurafool celticsruleunlessurafool Dec 9, 2012 10:21 AM Flag

    The actual market cap

    We have 40 mill and change in preferred , cyccp, and mid 50s for the regular stock. Am I wrong or does this mean cycc is more like 100 mill market cap?

    Sentiment: Hold

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    • OMG, read the 10-q. The actual market cap is the actual market cap of 50M or so. What you are afraid of is the fully diluted market cap - after exercise of options, warrants and conversion of preferred stock - and you have to read the 10q sec filing to figure that out.

      There is nothing to worry about here. There is not much there - just max 3M more common stock shares. But very little that can be converted at current prices, the rest are converted at much higher prices, so there is no dilution worry.

      By the way, compare that for example with MEIP. It also has $50M market cap or so, but it has tons of stock issued at 0.50 and tons of warrants at 0.52 and with stock price near 2.00 all of that is in the money and so has to be taken into account NOW and fully diluted market cap is 200M+.
      And this crap is only in Phase 1. Just another example how cheap CYCC is and how prudent that had been with dilution.

      • 1 Reply to vd6rt
      • Page 14 has the table of everything that can be converted to common stock

        Stock options 480,415
        Unvested restricted stock and restricted stock units 40,121
        Convertible preferred stock 73,747
        Contingently issuable common stock and common stock warrants associated with Economic
        Rights 435,187
        Common stock warrants 1,973,431
        Total shares excluded from calculation 3,002,901

        Page 21 - vested options have average exercise price of $29 !!!

        page 24 preferred stock has conversion price of 164.50 !!!
        The Preferred Stock is convertible at the option of the holder at any time into the Company’s shares of common stock at a conversion rate of
        approximately 0.06079 shares of common stock for each share of Preferred Stock based on a price of $164.50. The Company has reserved
        73,747 shares of common stock for issuance upon conversion of the remaining shares of Preferred Stock outstanding at September 30, 2012

        And then page 26 has warrants

        2013 367,347 $ 49.00
        2014 151,773 $ 59.08
        2013 14,286 $ 9.80
        2014 98,894 $ 7.00
        2015 101,786 $ 22.82
        2015 100,714 $ 19.95
        2015 594,514 $ 13.44
        2015 544,118 $ 9.52

        Total 1,973,432 $ 22.96

    • you are wrong... common stock is in the 50's million... if drug is a great one... cap should be 500 million or over 50 a share.... something doesnt add up here... 50 million with there pipeline and promise... why isnt wall street believing in cycc... we shall find the answer one way or the other tomorrow... hope its positive..

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