Simple, that cash is going to be long gone by the time they get halfway to approval. And the matket isn't buying their early stage results story again. Investors have been burned twice with secondaries issued early on the heels of preliminary data, only to have them announce a whiff shortly thereafter.
They'll have to give 90% of the equity away in order to raise another dime.
For car engineering. Can the news get worse? Talk about your money pits.
Maybe they can build them out of recycled watches and TV prototypes.
Their main line products are failing so they want to build cars? Why not buy out McDonalds and put watches in the happy meals, maybe an ipad or 2 as well.
It's going into overdrive in the race to zero. The "team" is just running out the clock and the bank balance.
No one is buying the story any longer. Remember, these guys have a history of issuing stock on releases like this and raising money when there's no apparent need. People will no doubt sell into these releases and they'll never raise another dime in the market. All it is now is a race to zero
The only thing cldx may have laid claim to world leadership in is carefully crafting early testing and raising money based on those "results". Sadly for them, that party is over. They seem to simply be running out the clock now with the bundles of cash they've raised.Suspect they'll go into radio silence mode.
What difference does it make. A whiff is a whiff. They ran with early and sketchy test results, raised a ton of cash and struck out when the rubber hit the road.
Only issue at this point is if they'll try to run the same scheme with the rest of the "pipeline".
The rule is once they start selling, get out quick. Better to be a little late than a lot. Works 90% of the time. These guys were bailing big at $20
Based on today's trading it looks like they can skip the formal announcement. The early announcement for the "special" people has rather clearly been made. Just follow the money!
When virtually all the insiders were selling hand over fist in the $20's there should have been a clear message there for you. Just follow the management.
Truer words were never spoken. From day one there has never been any serious management skin in the cldx game and for the past year what there was has been sold. Marucci and co are in it strictly for the fat salaries and perks. Albeit they have done a wonderful job of selling snake oil to underwriters and their clients
Good luck with that. They're burning over $100 mil a year with no prospects for anything in that pipeline seeing the light of day for 3 years. With the Rintega whiff they don't have a prayer of raising more money and on the off chance they do, the terms will virtually wipe out the current longs. Tack on a few law suits for good measure.
The only things at issue here is when they shut off the lights. My bet is they'll keep the paychecks flowing for another year or so, but no longer. Maybe console the management for the bungle with some big bonus money. The race to zero is on.
I don't think shorts are worried. In case you haven't noticed they're 4 or 5 years from a product to sell assuming everything goes well.
And watch how fast that $200 mil disappears.
When are these morons going to learn that all these reverses do is put more air under the stock price and attract even more shorts.
Shorting a 10 cent stock can be a problem. Inflate it to $2.50 and it's 25 times better and easier.
This one will be below a $1 again with a week, a month at the latest.
I meant to thank you for OPK. Bought some in the $7's a couple of weeks ago based on the insider commitment if nothing else.
On the flip side, I don't think I've ever seen a company with less management investment as this cdlx. And as simple as that sounds, if management won't put their money where their mouths are neither should you. This one is the poster child for that theory taht at least works more often than not.
You have a better chance of the Easter Bunny leaving you an egg containing the money you lost on this one.
Any firm touting this company and putting stupid prices on it like these guys are is simply looking for suckers to sell into. Wait for the $1 level and tuck some away if you must.
Can you never get enough of embarrassing yourself? The only buyers here are shorts covering to move on to greener pastures rather than playing for the last couple of dollars.
Once the shorts are gone there'll be no buyers until it goes sub $1. Look at it's twin CLDN