did you read the announcement?
TSRX "announced that it intends to offer and sell shares of its common stock in an underwritten public offering. Citigroup and Leerink Swann are acting as joint bookie-running managers and Baird is acting as a co-thug manager. The offering is subject to market conditions,(yeah like down 16% bfr Brandon spilled his beans) and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering"(100 shares or 2 million?).....HOW MUCH MORE VAGUE CAN ONE GET?
Brutal... so you are left to wonder.. is it a small offering of $20M or a BIG offering of $50- $100M.... look what happened to THRX today when they announced a $250M Note offering last night after hours.. They have 2 major respiratory drugs in the FDA hands for approval this Spring, GSK is a major partner and owner of the stock. The offering represented a 10% dilution and the stock sunk today almost 8%.. like for like... with TSRX market cap being so damn small, a meaningful offering of say $50M would represent a dilution of 25%... which would shove this puppy down in the 3's IMHO. Until they provide more details re amount and or timing this will hang over this stock like a dark cloud.