Bullish
$SLS Offering speculation is high but I'm not expecting much in that in the near future. Here's why. News delivered on 6/14/19 of a $15M offering sent us down 57%. But this offering was supposed to pay for beginning GPS Phase 3 (so why would we need funding now?). Also, we filed an S-3 on 9/20/19 (subject to completion) for another $50M mixed offering (common/preferred stock, debt, warrants, rights, and units). It will be very telling how this is executed - if all common stock it would be highly dilutive but it depends how it is structured (if sold to Merck would be very positive for example). According to our S-3A we can tap into up to 1/3 of our current MC (which is ~ $7M now) So our $15M offering + $7M = $22M in funding for Phase 3 (before possible partnership funding). The fun will be when we hear news of Phase 3 starting, other catalysts of our progressing pipeline, and limited need for offerings. (pew pew) GLTA
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