Jun. 25 at 4:45 AM
$CRVO I’ve been in this stock a long time. The drug uptake issue in phase 2 was a major screw-up, but the new formulation was a pretty good save, resulting in a positive outcome for the trial. That error led to the earlier warrants, which would have raised
$100M for phase 3, becoming worthless.
The new dilutive financing gets us through a long enough period to find our strategic partner for phase 3. This process won’t be fast, so the stock price will likely be hit hard until then (unless the other phase 2 trial results come in soon). The process is probably something like: CRVO issues an RFP to likely partners (2 weeks); offers come in (4 weeks); evals downselect to five-ish candidate companies (2 weeks); meetings with candidate companies (3 weeks); CRVO requests best and final offers (1 week); final offers arrive (2 weeks); selection made (1 week); due diligence ensues (6 weeks). The result should be a fantastic stock price, but it will take patience. Buying until then.
