A few weeks ago I mentioned another Biotech Company that traded in the $3.00 range and with one press release has traded over $15.00/share. The event that moved the stock was positive trial results on a drug that is currently in phase III trials. Several reputable analyst downgraded the stock one day before the press release. What I recently learned was through a secondary offering at $14/share the company was able to raise $360 million for the company.
The offering helps the company in several ways:
It provides additional funding for research and development
It helps bolster the company's balance sheet
It effectively put in a floor for the stock's price at $14
So here's a company with revenue streams that no doubt capitilized on a major news event to the tune of $360 million, so does that make them a crook or smart business men. IMO, smart business men. The share holders benefitted also when the stock price increased over 4 fold.
Dr. Moro in the past has tried to keep from diluting the outstanding shares now I applaud him for taking this long over due step to raise much needed capital so he can 1.) get rid of the smithline loan, 2.) have funds to pay his employees and 3.) money to move forward with all the many projects Biocurex is currently engaged in. Remember there are people out there that have attacked Dr. Moro and Biocurex relentlessly for the five years I've followed this company. They would love to see Dr. Moro fail even though the technology could benefit many cancer patients. It's all about money to them. Some suspect they might be trying to get control of the technology. Let's all work together to put a stop to their scheme and silence these naysayers once and for all.
JMHO
