A whole bunch of biotech IPOs both on the ASX and NASDAQ were withdrawn during 2014, so this is not such a bad thing but rather a reflection of the market at the time.
A lot of shares issued, yes, but hopefully that reflects the value of the transaction. Now it's a biotech with 1.3bn shares on issue, cash to see them through the short term, with phase ii trials starting + other various programs, plus the original SBN projects.
Entering the phase ii study will easily justify a much larger market cap, but now they need to do the "marketing thing".
A whole bunch of biotech IPOs both on the ASX and NASDAQ were...
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