Apr. 21 at 10:32 AM
$PRLD Share structure:
• 80,971,642 shares
• 2,252,252 new pre-funded warrants
• 19,532,188 outstanding pre-funded warrants
• 14,727,692 options with a weighted-average exercise price of
$7.68 per share
• 3,575,750 options with a weighted-average exercise price of
$2.30
• 9,757,734 shares of common stock reserved for future issuance
• around 500K unissued restricted stock units
Accounting for common shares + prefunded warrants diluted share count is around 102,756,082. which ar
$4.5 corresponds to
$462M MC, vs estimated cash of around
$170M (year-end cash +
$85,949,756.80 proceeds from offering - estimated 1st quarter operating expenses).
Guided runway into the second quarter of 2028
Seems expensive given stage of clinical development. But given assets with best-in-class potential in large TAMs + the ready-to-partner DAC platform + RA funding +
$INCY partnership I am too stubborn to sell any).
