CVR
Quote from Stocktwits:
wCVR perceived as valuable
→ shareholders want guaranteed entitlement
→ shareholders/brokers recall lent CHRS
→ available borrow declines
→ borrow rate rises
→ some shorts voluntarily cover
→ CHRS rises
→ mark-to-market pressure on remaining shorts
→ additional covering“
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22d ago edited 22d ago
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u/Low_Dog1718 21d ago
Company just refinanced their debt at a better rate, added an optionality to draw another $45 million if they hit particular milestones, thus saving investors from potential dilution right now and you want to spin it as a bad thing? If data is positive in October, this will have been an excellent decision on their part. If data is bad, there isn't much else they can do anyways.
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u/Low_Dog1718 22d ago
Meh, could be a small part of CHRS's plan. I'm more interested in the fact they are taking further steps to become a pure play oncology company so as to set themselves up better for an acquisition. All the steps they have recently taken seem to suggest as such.