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Biotech / Medical : Biotech Valuation
BTK 5,254-0.1%Apr 29 4:00 PM EDT

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To: A.J. Mullen who wrote (49675)3/1/2018 10:00:53 AM
From: Art Bechhoefer  Read Replies (1) of 51531
 
"Net loss for the fourth quarter of 2017 was $22.1 million, or $0.27 per share, compared to $34.0 million, or $0.54 per share one year ago."

Exactly. The net loss for the fourth quarter was nearly 30% less than for the same quarter in 2016. But the net loss per share was 50% less than the year before, due partly to share dilution related to issuing more shares last July.

What the company did in issuing shares last July was prudent, inasmuch as the share price had soared on favorable news of pamrevlumab clinical trials. Much better to issue shares when the share price is high than when the company is struggling and looking for any source of new income to keep from going broke.

I have little doubt that FGEN, having declined to around $53, is still an attractive long term buy.

Art
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