Oct. 1 at 1:14 PM
$BRNS I re-crunched the numbers last night and believe this could be a long term hold, perhaps will drift into
$2 -
$2.20 range before closing ....specifically based on two factors. VTP-1000 Phase 1 still hasn't been released, but also this statement from the PR that most people are glossing over
"Prior to the closing of the transaction, the combined company may commence a partial tender offer to acquire shares of the combined company then issued and outstanding and held by Barinthus Bio shareholders for an aggregate offer price of up to
$27 million."
This is a stock buyback of 27M. Current price is ~1.3/share w/ 40m shares outstanding, giving a total market cap of 52M. If they do a 27M stock buyback, they are essentially buying back half the company's market cap, which means they will have to purchase anywhere from 10M - 20M shares at varying prices between our current price, 1.3, and 2.6/share. Driving the stock up to ~2+/share. This plus VTP-1000 data readout = bullish.
