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Oncolytics Biotech, Inc. Message Board

  • bridgeconstructor bridgeconstructor Jan 3, 2013 10:19 AM Flag

    Rambling thoughts on Financing

    I put our burn at 1.5 Million/Month... The 7 Million or so we have been paying Sigma-Aldrich for Reolysin formulation should by now be greatly reduced. The "Extra" 87 patients enrolled stage one cost us an unbudgeted 7 Million. We have cash thru end of year so we will be financing soon. I am ok with anything over 4 bucks. This thing doesn't need to be huge now...just enough to put us out another year. So 4 to 6 million shares at 4 to 6 bucks will do fine. I expect this any day/week now. Much can and will happen in the next 18 months.

    Sentiment: Strong Buy

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    • This is the first time in more than a decade that BT has had less than one year's cash, and I'm quite sure it is not the result of any lack of opportunity.

    • Although some of the recent share price dynamics may have you speculating at a possible financing, other things do not. Brad spoke to the cash issue during his conf call, and stated that the burn was now drastically reduced, and that they had plenty of cash for the entire year's anticipated requirements. The PR firm was not recently "enlisted", and has been used by ONCY for a long time. Why finance now?

      Sentiment: Strong Buy

      • 1 Reply to my_1st_post_in_13yrs
      • If you've been following ONC for over a decade you should remember that at least twice before Brad made the remark that they had plenty of cash going forward shortly before they did a financing. You may be correct that Griesel has been our PRfirm for a long time but I never heard it mentioned before. Equicom yes, investor group yes but don't remember Greisel. (It's not a major concern.)

    • Any of the bridges care to comment on the timing of the financing relative to trial results? It would seem the current share price is being managed (again) Does that suggest financing prior to results? And if so, does it reflect on ONC's confidence?

      I understand the role of a financial PR firm laying groundwork for financing. But wonder why we would need it if (as we expect) imminent results are outstanding. Maybe it's Look's MO. but I 'm not sure why we need it.

      • 4 Replies to d2foxes
      • Fox,
        It might make since to enlist a PR firm whether they choose to finance before or after the next news release. If a PR firm has a proven track record of adding a buck or two to the price, let them do it. If they choose to release data before a financing, the price will go up from a higher point, netting more money with less dilution. Its all good.

        I think that next data release from the H&N will have significantly more impact than the six week data we saw in January. The six week data clearly demonstrated that reo is active, but it is hard to extrapolate from this data how good the effect will be. If the separation of the met curves goes from 14% to say 30%, most of the remaining risk goes away. March 15th will mark the point where they can do a 6 month survival determination. I would like to see this before they do a finacing. This is how the real value will be revealed.

        Sentiment: Strong Buy

      • I'm thinking financing after some sort of results. The distribution of stock has been going quite smoothly. Why stop in the middle to do a stops raid if your trying to unload shares in preperation for picking up a near term offering unless you still want more as you work the pps up.

      • Brad is not a "Speculator/Gambler"...Thats our job. He has never come close to killing our "Dream" by running this out of cash. An offer comes in for 20 Million bucks...He is going to take it.

        Sentiment: Strong Buy

      • I would agree. Results from a number of trials are imminent. Why do a financing at $4 when it could be done at $10. In my view there is nothing thus far to suggest the results will be anything but the same as we have had.

        Sentiment: Strong Buy

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