"NEU was one company who really raised the bar on cash management....... Really disciplined... And very good at raising non-diluting capital...."
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I assume you mean the US Army funding... & and technically speaking its not fully non-dilutive because the army gets access to NNZ for free or at cost if NNZ is a success. If you want the benchmark for SUPER DUPER NON-DILUTIVE funding, you cant go past Biota Pharma:
* To receive $231 million from US government PLUS * 7% management fee on that $231 million PLUS * Not giving up one cent in ownership of drug PLUS * The US Govt will buy the drug when its marketed.
A company with a drug that has a 80% chance of success (given its already marketed in Japan) with a current market cap of $130M, less $75 million cash, less receivable of $231 million gives it like a super ridiculous negative EV.
Its been a crap investment but like cockroaches, it will end up surviving in a nuke winter unlike most other speccy biotechs with higher market caps.
