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Ciz has much less to do with CDT than VELA. There put option may on the surface have been less good a deal than ours but it was still overvalued when offered as was recorded as a loss by CDT in the quarterly report....as was VELA's if( and when) it is exercised.
By the way CDT up to $2.7 as I write.
I don’t think that is the case.
Also CIZ had a set price of $10 so there was no value in waiting …and they could have sold at say $8 and bought back in at $1!
We could have exercised at $5 and seen the price drop to $1 which wouldn’t have helped sentiment.
Exercise for $5 when market price hits $3 and sell at $10 would be a good plan 👍
I agree, but maybe they have a target price to exercise, say when the CDT price is back around $3.5 . Then we would be all square on paper with our original investment in SGSC plus the cost of the option.
It's interesting the CDT price has increased since they attended the big Pharma conference in London. Maybe there is anticipation of some news around the corner.
I tried to view the QBT Twitter account and got this?
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Yes…at time of writing up 35% on good volume.
Worth noting that VELA got a good deal
on the put option ( as did CIZ) in that a subsequent valuation by CDT has shown it was overvalued by near $1m at the time it was first agreed .
This presumably because the chance of a commercial deal for the COVID aspect of the az drug has receded.
So the share price might be below par at the moment but upon exercise VELA will have many more shares than they may have had otherwise .
Good time to exercise on the turn upwards?
CDT quarterly report out .
No mention on VELA exercising ( although it’s historical ( up to end sept) but dies reiterate that the agreement was heavily in Vela’s favour ( financially) compared to what the option would be valued at now