Vion (formerly Oncorx) interesting play on Gene Therapy Message Board

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Biotech / Medical : Vion (formerly Oncorx) interesting play on Gene Therapy

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To: Jim Oravetz who wrote (239)	4/4/2001 2:16:35 PM
From: Dave	Read Replies (1) of 370

[VION filed] "to offer 5 million shares of common stock ... estimated at $21.6 million" They'd better re-estimate that to account for VION's sinking share price... VION would have to go up 17% for 5 million shares to be worth that much. And with an average volume of 69,000 shares, VION is going to have to sell their 5 million new shares over the course of several months to prevent a sudden share-price plummet. I predict a long, slow, downward, grinding selling pressure on the stock. Consequently, VION will be lucky to get, say, $15M from this offering. On the other hand, a cash influx, whether $15M or $21.6M, is just what VION needs in order to stay afloat long enough to get some more trials under its belt and start selling some TAPET. I plan to buy more when I think they've bottomed after this secondary offering. Dave

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