May. 15 at 8:13 PM
$FBIOP my strategy was buying before the PRV cash hit the 10Q financial statements. Even amongst biotech people the common stock of
$FBIO is unknown and difficult to understand given the structure and being sub
$100M makes it non institutional. Therefore retail and small funds will find it with their screeners AFTER the financial release data shows negative EV and the balance sheet cash dwarfing mcap.
THEN will some of those folks discover FBIOP and see the no brainer of having a company with sizeable cash that can easily repay the prefs, that will in 1-2Qs have positive earnings, and increasing royalties that have no real cost. What made Fbiop a no brainer to us long timers will now be discovered by others as an incredibly lucrative investment. I think we’ll see it at
$18 very quickly and I would expect activists (hopefully not Tang Capital) come in to push for better cash utilization at FBIO including restarting dividends.
