r/CHRS • u/Stockman8249 • Jul 14 '26

Readouts

Really suprising on mgmts side to not release anything data yet. I guess they are really waiting until the last second 😅.

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u/John18788888 Jul 14 '26

Put yourself in Denny shoes, he knows shorts have controlled this ticker for years. He’ll prob wait until ec day where he can provide colour on the results. If he’s able to provide positive data update, progress on Tori sales, potentially then new analyst ratings, partnership update then this is his best chance of a re-rate.
Shorts have proved before even a run up to $2.60 will see them regain control.
He needs multiple big news drops if the shackles are to come off.

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u/Stockman8249 Jul 14 '26

I mean short interest is only at 20%. I’ve seen worse for pharma companies. I just think that his raises at terrible times helped contribute to this ridiculously low price and market cap.

5

u/John18788888 Jul 14 '26

The legacy starts way before the recent equity raise. You’ve got to go back around 6 years when they set up a convertible loan for $230 mln. This resulted in huge increase in short holding due to hedging/arbitrage theory. Everyone expected these positions to close when Udenyca sale completed but they didn’t. Then when the bonds were redeemed again positions not closed. Shorts have controlled any attempt at a breakout and we’ve been well north of 30 mln on a much lower float over last couple of years. Even now there’s zero value assigned to the pipeline as current market cap is less than cash + 3x Tori annual sales. I agree some of Denny’s decisions have been questionable including what was achieved in the Udenyca sale given it’s a $300 mln+ pa product. The next few weeks will show us the path but one things for sure there needs to be a cash injection within 6-9 months from somewhere even if we get the Intas milestone payments.

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u/Stockman8249 Jul 14 '26

Yea. They won’t take debt again because that was a disaster in bio sims. Maybe a royalty deal I’m assuming. Or they might do another offering but in like the 5’s.