This is not the cherry I wanted to put on the top of my sundae.
After surging more than 200% from Friday’s to today’s close, Provention Bio. (PRVB) just announced plans to raise additional capital.
My immediate take? Management are idiots for not letting the momentum and groundswell of media interest crescendo before printing a deal, say north of $20 per share. But there’s no use wasting my breath on things that can’t happen now.
Here’s what really matters and why it will all be ok after this offering is behind us…
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