Dec. 23 at 7:47 PM
$BCTX Fair warning to anyone trying to remain bullish... This was just the S-1 getting filed. Go back to July and they filed the S-1 for that offering on July 8 in the after hours. Look at what happened to the price the next trading day (July 9)... Down 27%. But that meant the worst was surely behind, right? Nah, they priced the offering at a huge discount intra-day on July 15, which sent the price plummeting an additional 62%.
I still love the science here, but the market is quite possibly giving anyone still in a gift right now, only being down 21% today. The prospectus calls for a massive dilution more than doubling the outstanding share count. If it goes through as written, it's likely going to result in a repeat of what happened in July.
Preserve your capital and come back after the dust settles, if you still like the science, like me.
