I invested a couple years ago before their phase 3 readout, which wasn’t successful. I lost 30% on my cost basis. Now the price is trading as a net net.
Since then, they’ve given loans to other biotechs for equity stake + interest and just announced a big special dividend payment.
Ben Shapiro, the political talk show host, is on their board of directors and he holds a quarter to half of his net worth in the stock.
They’re trying to do another phase 3 study on a specific subset of population, and they made some licensing deals in China if it passes their regulatory body.
I’m not inclined to invest in pre-revenue biotechs, but the special dividend shows that they’re serious about returning capital to shareholders.
I’m curious to hear if anyone has experience with similar asset play setups.