Jan. 7 at 7:59 PM
$ARWR
The good ol' Anzalone rug pull. Guess the company needs the capital and this is the time to raise cash. Unfortunately, our analysis points that this company has a bloated payroll &out of control opex - for several years. Doesn't really look like they're financial disciplinarians ...
Consider the following, 1) treasury stock from returned equity from SRPT, ~
$80 m @ current levels - would not be surprised if this is sold by the next sec filing ; 2) milestones coming from sanofi
$SNI, plozasiran approval in china ; 3) latest SRPT milestones (well lets see if they pay up - they need the scientific asset for survival).
Hopefully with the notes, they retire more expensive debt.
Though happy about the good return, never have placed high concentration confidence on the anzalone's... this could be the next
$ALNY but it seems like this is not the last equity raise ...
