Jun. 2 at 6:29 PM
$BTAI Your math assumes every liability becomes an immediate cash outflow, which is not how biotech balance sheets work. Accounts payable are not the same as near term cash burn, and you’re also ignoring potential revenue, partnerships...
You also forgot to mention that a significant portion of the outstanding warrants are exercisable at much higher prices, including warrants with a
$4.20 exercise price. For those warrants to become relevant, the stock would first need to trade substantially above current levels.
You also left out that the company previously disclosed that the legal settlement is expected to be covered by insurance proceeds, meaning the cash impact on BTAI is expected to be minimal or zero.
Presenting every liability as an immediate cash requirement while ignoring potential sources of capital is simply a completely biased and misleading analysis.
So the question is… when will you be back on the forum with your next dilution countdown?
