Wednesday, May 29, 2024

Ikena Oncology: 50% RIF, Trading Below Cash, Strategic Alternatives

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The broken biotech basket has been emptying out lately, but the latest addition is Ikena Oncology (IKNA) (~$75MM market cap), a clinical sta...
58 comments:
Tuesday, May 28, 2024

Seaport Entertainment: Initial Form 10 Thoughts, Spinoff, Rights Offering

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The first public draft of the Seaport Form 10-12 came out on Friday, I took a quick read of it, here are some initial thoughts that I'l...
15 comments:
Wednesday, May 15, 2024

Inhibrx Inc: Cash Buyout + SpinCo (Inhibrx Biosciences) and CVR

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Inhibrx Inc (INBX) (~$1.8B market cap) is a clinical stage biotech that announced the sale of their most advanced therapy , INBRX-101 (a tre...
47 comments:
Friday, May 10, 2024

Enhabit: Failed Strategic Alternatives Process, Proxy Fight

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Enhabit (EHAB) ($413MM market cap) is a July 2022 spinoff of Encompass Health (EHC) that provides home health and hospice care.  Similar to ...
8 comments:

Target Hospitality: Majority Shareholder Low Ball Bid, Now Considering Strategic Alternatives

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Andrew Walker recently had  Matt Turk on his podcast where they discussed this idea .  I generally agree, but for my own process, I wanted t...
21 comments:
Monday, April 8, 2024

Asensus Surgical: LOI with Buyer, Highly Speculative

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Similar to MRDB, this is pretty speculative.  Asensus Surgical (ASXC) (~$73MM market cap) is a cash burning medical device company that make...
29 comments:
Monday, April 1, 2024

MariaDB plc: In Default, Highly Speculative, 3 Bidders

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This is highly speculative, but I wanted to bring the discussion out of the comment sections of my BFIN post as I found the situation inter...
24 comments: