Mar. 12 at 5:10 PM
$BCAB Back buying this. The Context Therapeutic royalty was a Tungsten Advisors deal. BCAB should be able to sell the potential
$100M royalty/license for
$5-10M in distressed case, more if Tungsten generated an auction. Even
$5M would solve the NASDAQ minimum and equity provide adequate runway (with skeleton staff/payroll) to complete Phase 1 of current trial (as stated in latest SEC filing) and for Tungsten to run a proper auction for remaining assets, or provide time to secure funding fo
Jay Short is in a lot of trouble with the SEC if he raised
$150K in a SEPA and in the same filing said the Phase I,. specifically, would continue, if that were not the case.
The company is selling modest amount of shares to cover a few payroll cycles while Tungsten closes royalty sale, is my guess.
If I am right, this is a $.50-75/sh that day, and on its way to
$1+.
Nfa/dyor
