I hope so, but not all stocks do after a secondary, as you know. However, I think the circumstances tied to doing the secondary rather hastily, and for what some people felt was too deep a discount, are outweighed by the positive nature of the CIRM grant and its vote of confidence. I don't quite think we've got a TROV on our hands here, but it's definitely undervalued at sub 100M market cap!
Have you followed NBS for awhile or been in it before? I've followed it for what seems like an eternity now. Been in and I've been out ... back in bigger than I ever was.
NEW YORK, June 2, 2015 (GLOBE NEWSWIRE) -- NeoStem, Inc. (NBS) ("NeoStem" or the "Company", to be renamed Caladrius Biosciences, Inc. as of June 8, 2015), announced today the closing of a previously announced underwritten public offering of 12,500,000 shares of common stock at a public offering price of $2.00 per share. In addition, the underwriter exercised the over-allotment option to purchase an additional 1,875,000 additional shares of its common stock bringing the gross proceeds to NeoStem from this offering to $28,750,000 before deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company. The Company intends to use the net proceeds from this offering for working capital, including research and development of cell therapeutic product candidates, especially its lead immuno-oncology program, NBS20, expansion of business units, strategic transactions and other general corporate purposes.
Aegis Capital Corp. acted as sole book-running manager for the offering.
The offering is being made pursuant to a shelf registration statement that the Company previously filed with the Securities and Exchange Commission (SEC) and which became effective on October 3, 2012.
We've had a large short contingent for what seems like ... forever. And, yes, with the float all tied up except for small %, they are, as we Midwesterners like to say, in a pickle! The most fun we had around here was the day we got news and the pps rocketed in an hour or so from $13 to $27. Of course, it wasn't sustainable, YET, at that point. But, it's comin' ...
Oh NO!!!! Dig a little deeper, it's really not at all surprising! But, thanks, AGAIN, for the concern!
Bashers have overrun this board for months!! I think it's funny how uncharacteristically quiet they've been since the initial shock of the $2 secondary. Of course, our "resident" basher still pops in from time to time just to prove his idiocy! There will be fits and starts, gyrations, but longer term, if you are adding here or buying for the first time and can afford to be patient, I think you will do just fine! Congrats on your starting position ... I was in NBS for quite a while and got out when they botched the way the trial was structured and/or reported. Unfortunately, I started my first re-buy at $2.80 on the CIRM news, but no worries, have quadrupled that buy under $2.12. Tuck these away ...
In a research report issued Friday, H.C. Wainwright analyst Yi Chen reiterated a Buy rating on NeoStem Inc (NASDAQ:NBS) with a $6 price target, after the company announced a $17.7 million grant from the California Institute of Regenerative Medicine to fund the company’s current pivotal melanoma trial. However, the market was not convinced as NeoStem shares are trading nearly 6 percent down.
Chen noted, “We believe this grant is likely to be received by NeoStem over a period of time and help fund a significant portion of the trial, which is estimated to cost $45-50M. The Phase 3 trial has been granted SPA, fast track, and Orphan Drug Designation by the FDA, and has started enrolling patients since April 2015.”
“We view the grant as a notable endorsement of NeoStem’s novel and personalized skin cancer immunotherapy that specifically targets cancer stem cells. In the wake of this update, we reiterate our Buy rating”, the analyst added.
Nothing new, is it Ozark? I learned a long time ago not to put too much "stock" into the trading in OSIR. Like I explained last week ... OSIR is unique, in MANY ways!
Looking forward to our next stair step up!
Not really, I don't think, other than it signifies that it is closed and a done deal! Like I said ... we knew they needed to raise $$ and that's the reason the thieves were able to pressure it down where it had been prior to CIRM news, about $2.35. With that news/grant, this secondary raises the $$ they need and it was done in conjunction with very positive developments, imo.
With the market summer doldrums/Greece, etc., I am very happy taking a larger position down here in the $2 range and letting this play out over time!
Of course, it's not right, bill! That's why anyone who can do the math and have a little longer term vision, is buying this secondary with both hands! GLTY
Do they realize that there's not much blood left in this stone and they might as well go someplace else because $2 is it? Well played, but hogs do get slaughtered!
Frankly, with a market cap this low, it would not surprise me that NBS gets swallowed up!
Well, not so sure about "guaranteed", but it feels like it has had enough of this level! Well, ok, maybe I'm transferring some of MY emotion here! But, volume is good today and, for me, this is still all about the LOW market cap we have. Needs to be more fairly priced for stage of development ... and, of course, our "team" adds value, too!
Perception is reality. People were watching the left hand while the right hand was busy stealing shares!