Hi, Eric,
The same lame lines year in and year out. That doesn't get old for you?
No, actually it doesn't, because I see steady progress being made. Also, since I've averaged down for the past few years, I have a healthy profit, so far, on my investment.
Also, I respect your brother's opinion of this company, which is different from yours.
Finally, in regards to your dilution argument, I see dilution as a fact of life for all start-up biotech companies. And your conclusion about the evil (to the investor) that dilution causes doesn't necessarily come true. The fallacy in your argument is that while the company is experiencing dilution developing its product, it's growing it's value. Many times the rate of dilution is linear, while the rate of value creation is exponential. That's why people have invested, and continue to invest, in risky biotech companies such as this one.
So, despite your many cautionary declarations, I remain happy with my investment in Peregrine.
Best regards and good luck!
Bob |
