|Damn, someone has decided that ITEK's new drug pipeline is a good one. $1.94 now......|
Do you understand the acquisition by the new company Rocket Pharmaceuticals? I think ITEK shareholders get to keep 20% of the new company, and Rocket shareholders get 80% + basically ITEKS cash (and debt position). So....if ITEK at $1.94 has a $52m market cap, it means the new company (when it acquires ITEK via reverse merger) will have a market cap of $260m? Is that correct?
If so, it doesn't seem like a good bet at $1.94. But the biopharma area is beyond my limited skill set.
Meanwhile, I've still got GRVY, so Q3 may be interesting. I wonder why it has jumped from $19 to $33? Hopefully someone paying more attention than me is monitoring GRVY's rankings in the various online stores that sell the GRVY apps.