Monday, March 21, 2011

BioDelivery Announces Financing Deal

From VFC's News, Notes & Weekly Stock Watch at VFC's NEW Stock House.

BDSI:  BioDelivery Sciences, like Titan mentioned earlier, also announced a financing deal last week.

The dilutive financing terms will bring in $15 million and supply the company with enough cash to last into 2012, when added to the year-end 2010 cash number and assuming no additional larger-than-expected expenditures.

The new cash will be used to fund the continuation of the pipeline, with BEMA buprenorphine being the most advanced of the non-approved products, and supply some additional leeway as the company proceeds with partnership negotiations to bring BEMA bup to market.

It was ho-hum trading for BDSI after the news was announced, like it was also for TTNP, as the price didn't dip any lower than the recent trading range, but those with patience may be buying into a company whose mid to long term future looks bright.

BEMA is a sound technology, the pipeline of applications for the technology is growing and once the REMS issues for Onsolis are settled with the FDA, that product could start bringing in some real revenue.

Disclosure:  Long BDSI.

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