Aug. 26 at 4:06 PM
$FBIOP Arrears keep growing at 0.1953 per share per month. Sept balance will be
$5.27... Which means we are currently trading at 40% discount to liquidation preference.
DERM is almost breakeven.
Royalties for UNLOXCYT and ZYCUBO will continue to grow.
Some people in whom I highly trust think 2028 for reinstatement.
I am personally in the 2027 camp, which means I believe they will clear the arrears by the end of this fiscal year in order to access the baby shelf and continued equity financing via S-3 for FY2027.
Going into November this year, FBIOP arrears will be about
$8 per share. This will cost the company just over 27m to clear the arrears and access S-3 financing.
If they decide to go into November of NEXT year, FBIOP arrears will be around 35m going into FY2028. And FBIO commons will trade sideways due to this overhang.
Like many have said, this is not a matter of "if", but a matter of "when"