Nastech raises $7.9M in stock sale; s...

Nastech raises $7.9M in stock sale; shares dive

There are 1 comment on the Seattle Business Journal story from Apr 25, 2008, titled Nastech raises $7.9M in stock sale; shares dive. In it, Seattle Business Journal reports that:

Puget Sound Business Journal Nastech Pharmaceutical Company Inc. said it raised $7.9 million by selling 4.6 million shares of its stock at $1.73 per share.

Join the discussion below, or Read more at Seattle Business Journal.

JIMMY T

New York, NY

#1 Apr 25, 2008
4/25 NSTK-RAISES $7.9 MILLION SELLING SHARES TO PAY EXPENSES. THIS IS THE SECOND TIME WITHIN 14 MONTHS WHICH SHOULD SIGNAL A 6 ALARM FIRE BURNING OUT OF CONTROL. THEIR BURN RATE IS TOTALLY OUT OF CONTROL. IN 12 MONTHS THE STOCK HAS GOME FROM $18 DOLLARS TO $1.40 TODAY. THREE DRUG COMPANIES BROKE OFF AGREEMENTS WITH NSTK, AND MANAGEMENT SOLD THE MOST STOCK SHARES IN 2007. WHAT IS MORE SURPRISING ARE THE RESEARCH COMPANIES WHO FOLLOW TOUT IT AND HAVE RIDICULOUS TARGET PRICES THAT ARE NEVER REACHED. THROW JIM CRAMER IN THERE WITH MORE THAN A DOZEN TOUTS AND VIDEO'S AND THE BOTTOM LINE RESULT IS 'TOTAL FINANCIAL DISASTER FOR SHAREHOLDERS'. NOBODY BELIEVED ME 1 YEAR AGO,
9MONTHS AGO, AND EVEN LAST OCTOBER BEFORE THE BIG PLUNGE. BUT AFTER TODAYS CRASH, THERE IS NO REASON NOT TO BELIEVE THAT NSTK ISN'T GOING ANYWHERE. SO THERE IS NO REASON TO ATTEND THE SHAREHOLDERS MEETING OR BUYING AS IT GOES DOWN THE TOILET EITHER. BUT I SAY THE SEC SHOULD INVESTIGATE THESE RESEARCH FIRMS, AND T.V. PERSONALITIES AND MANAGEMENTS SELLING SHARES LIKE CRAZY WHILE THE STOCK IS TOUTED FOR A 9 MONTH PERIOD. THERE IS NO PROTECTION REALLY FOR STOCKHOLDERS. AND SOME BELIEVE ANYTHING, INCLUDING STILL THINKING NSTK WILL BOUNCE BACK.
THERE HAS BEEN MISLEADING INFORMATION FROM MANY SOURCES ON THIS ONE. IT SHOULD BE ON CRIME STORIES!

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