May. 27 at 3:10 PM
$RANI I have made a summary based on the published SEC filings. Current potential full diluted shares are 384 M (including 12,73 M stock options).
The potential SUM cash (in case of full dilution) is ~
$169M. Chugai milestone payments are not included. However, it is “only”
$118 M, if stock options (12,730,325) are not exercised at
$4.01.
With recent cash burn, 118M should be sufficient for 3-4 years, including 2-3 phase1 trials (or RT-114 phase2 + 1-2 phase1). If Chugai release payments, the situation improves.
The question, how far it can go in 2-2,5 years (still in good cash position). If market cap reaches 2 billions, the share price will go to 5, etc.
Of course, with an excellent RT-114 phase1 result and smooth Chugai progress, the surge might come even sooner, however dilution overhang will be part of the play.
