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Apricus Biosciences, Inc. Message Board

  • court.fool2000 court.fool2000 Apr 1, 2013 5:08 PM Flag

    APRI look out NEW SEEKING ALPHA SAYS DILUTION COMING!!!!!!

    On March 18th, Apricus released its 2012 10-K and corporate update. As of December 31st, the company had cash and equivalents of approximately $15.1 million. Hidden in the filing was a bit of information that had not been announced in 2013. In March Apricus closed the sale of its New Jersey manufacturing facility, resulting in proceeds of $3.6 million. This cash infusion gives the company a bit more breathing room financially, but it still expects to need external financing to complete its long-term goals. According to the filing, Apricus now has cash sufficient to fund its operations for another 12 months, so I would expect some type of dilutive offering in late 2013 or early 2014, depending on the amount of money received from its oncology support unit sales. With two S-3's currently filed through the SEC, and one of them being an "at the market" (ATM) for $17 million, the possiblity of this vehicle being used on any significant share price spikes in the interim is certainly real and should even be expected.

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