"I still don't like the idea of a secondary when OPTR has not got FDA approval yet."
Well, I'm not particularly thrilled that they did this secondary after suggesting in the conference call they they might have enough funds due to the Acellas deal to go forward without needing to raise more through equity or debt. But of course they were not definite about that as they clearly would have known of the plan to do this secondary at the time.
But before or after approval means little to me. As always, it is all about fidaxomicin. Approval in the US means very good things for all of us regardless of the secondary which will allow them to launch the product with vigor. They said that each sales rep costs about $250k/year and they want to start with sixty, so that's $15 million right there for sales reps alone.
And if fidaxomicin does not get approval in the US then it's mediocre city for the company and probably bye-bye for me.