April 1, 2017 8:23am
CAPR closed up +$0.16 to $3.38, expect depreciation and dilution
CAPR entered into a common sales agreement with H.C. Wainwright & Co., LLC as sales agent, to create an "at the market offering" under which CAPR from time to time may offer and sell shares having an aggregate offering price of up to $5 M.
The Bottom Line: $3.38 is the highest CAPR has been since the 1/3/17 as compared to its low of $2.18 (1/30/17). However, does CAPR have an exosomes issue – filed but, NO issued patents for their newest development program as compared to the others and the heralded one that was dropped? CAPR returned rights to natriuretic peptides licensed from the Mayo Clinic following a portfolio review – a $1.5 M impairment.
... CAPR had reported a Q4/16 loss of $4.5 million or -$0.21 per share Losses, adjusted for asset impairment costs, were $0.14 per share. For FY16, CAPR reported that its loss widened to $18.8 million, or $1.01 per share.
Well, they are spending 3.8 M minus collaborator and grant revenue of $906.9 K for an operating loss of $2.913 M.
... The offering is better done with cash in the bank and a Q4/17 runway.
CAPR ended FY16 with $16.2 M and the weighted average of shares, basic and diluted was 21.399 M