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This one is slightly straight ahead, there is no debt, minimal lease obligations, ~$100MM of money and a 49% shareholder in RA Capital.
RA Capital is an institutional participant in life sciences, they make investments throughout the pre-revenue/income spectrum, Andrew Levin from RA Capital is the chairman of the board for ELYM. He seems to be extra of a scientist than an investor, however I am certain straddles each. All that to remain this case most likely leans in the direction of a reverse merger — it has been 4+ months because the strategic alternate options announcement, a scientist as chairman and controlling shareholder (might need one thing they personal privately and wish to carry public), however given the possession alignment, hopefully a properly thought out transaction. The IP may also be value one thing right here to somebody desirous to pursue a Section 2 trial for ETX-155.
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