$100 M of total assets per BUSINESS WIRE (see news headlines for link) Took hit of $1M for Mesoblast stock sale this qtr also. I'm not defending OSIR Mgt. I'm just hoping that the market reaction to their ineptness could and hopefully will be a wakeup call. Cash probably closer to your number but burn rate is low.
I believe that OSIR Management is learning what it takes to play in the big leagues. Company has great products, they have revenue and $100M in the bank(enough to preclude any dilution for a number of years). A big hit was increased Mktg and G&A expense as they pay for a larger sales force. These expense increases should pay off in the future.
Management has some major lessons to learn as they move into the big leagues. I believe that the management team needs to be strengthened in several areas. Today will be a wakeup call to the OSIR team. If they take heed and learn we will recover from this setback in short order and be much better equipped play in the future.
You hit the nail on the head. With the price of gold where it is and the low cash on hand this company is toast. Story was good originally and I bought in at a much higher price. Sold today rather than wait for BK to happen. RBY will need a lot more cash to implement any plan they come up with. Restart costs will be high. Lost more than I care to admit on this one.
Sentiment: Strong Sell
Horrible day for all bios. Only way to beat days like this is to be very patient and wait out the manipulators. Every bio I own is down today. No negative news on any of them.
I really believe that Hillary caused a lot of selling across the biotech sector. All the biotech funds and ETFs are selling today so a lot of babies are going out with the bathwater. Sellers are in control for now.
Market doesn't seem to like the special dividend idea. OSIR would have been better to invest these funds or do a share buyback We have already lost more in market value than the dividend is worth.
OSIR is a great opportunity but just a little early to pay out dividends.
Another Interesting end of day trade in SGMO shares. An 88544 share lot traded right at the market close at a price of $6.57. Yesterday a lot of about 50000 shares traded again right at the market close. Volume today was over 2 million shares. VERY INTERESTING! Anyone out there have any clues???
I believe that EL has finally gotten the message that some solid actions and near term results are urgently needed. The time for words has long since passed. The plans announced today finally sort out priorities and put everything on the line. SGMO has no excuse for not pushing forward on their part of the plan. With the PPS where it is, EL has to know that he sits under a high power microscope and must to deliver. It is all about execution now and there is no room left for excuses, delays or missed promises.
I believe that SGMO's technology has high potential. I also believe that one solid success will open the door to some amazing future opportunities. With success will come major PPS appreciation.