Bullish
$CTXR $2.8M in cash as of 12/31/19. Burn about $4.5M per quarter, but this is decreasing dramatically due to $10M trial savings announced early last Fall (700 to 150 patients FDA ok'ed). 7.8M warrants from 9/2019 financing w/ .77 strike starting to be exercised, as you can see above. Management owns most of these warrants. They are giving themselves cheap shares and pumping cash into company. 7.8M at .77 fully exercised gives company 6M cash. There are another 7.8M warrants from 8/2018 financing w/ $1.15 strike they can exercise, which would give company another $9M cash. So that's $2.8M+$6M+$9M = $17.8M in cash before they have to raise. That's a year's worth of cash for 2020. All systems go. Looking at a company w/ at most 45M outstanding shares and $1.5B global CRBSI salvage market to themselves. No competition. Read up, $CRMD. $30M MC now with $700M MC potential in two years.
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