Oct. 30 at 9:55 PM
$SYBX Synlogic ref=
$1.46 — no pstn — 👍 the last of 4 (four) busted biotech shells that have hired LUCID CAPITAL MARKERS — a less than 1 yr old IB boutique — to advise them on strategic alternatives.
So far 3 finished with fireworks:
👍
$ABIO Arca ➔
$ORKA Oruka up 90% on deal PR
👍
$KTRA Kintara ➔
$HURA TuHura up 68% on deal PR (🚩Kintara Nachtrab involved of SAVA infamy)
👍
$GLYC GlycoMimetics ➔ Crescent up 230% on deal PR.
Of these, ABIO was at neg EV (MCap<net cash) while others where valued at +EV and used the pumps to raise into deal closings.
Thus, current SYBX valuation at premium to net cash (cash ~
$20M at 2Q end less
$4M liabs w 12.4m shs outst=
$1.30 cash per sh pre 3Q) stops us from betting as I don’t see a compelling r:r 🚩but past history (‘Lindy’!) of the 3 deals is evidence for bulls 👍
$JAGX Jaguar was mentioned as Lucid Capital Markets joined Ladenburg there recently to co-run the ATM but as posted below 👇 we see risks and avoid.
