Jun. 13 at 8:40 AM
$VRXA $VRXAW the mispricing here is astounding, in both actually. Warrants should technically be at eight bucks right now, with shares at
$20 and strike at
$11.50.
However, the stock is now way too high. At roughly 140m fully diluted share count, we get a marketcap of just under 3bn. Thats simply too much for an early stage biotech with no/little clinical proof. Xlife, a VC firm with a 19% stake had this last valued at 600m.