Craig,
I just started following this dog and, so far, think it might have a chance to bark. Evidently, in May, there was some bigtime insider buying, which I take to be the result of the first trance of BIOC's performance-based financing deal. The 2nd trance comes up in July. I haven't rooted around to see whether I can find the performance numbers they have to meet to stay alive but, with only $500,000 in cash and a several million per quarter burn rate, they're deadmeat without the July financing. Deadmeat means delisted. If they do meet the performance numbers, they're probably good until this time next year. BIOC is a total flyer, as in "take a flyer on." I seem to recall the 2nd trance buyin price was $1/shr, but I'll have to check that. That means if they meet their performance numbers, the stock should be $1+, a basehit on today's price.
Best, Steve |
