Shared by
beno
Fundamentals
As of: Sep 30 2019 Q (Share outstanding is latest)
Shares Outstanding (latest from broker): 42.6m
Cash: 71.167m (+$250m from recent offerings)
Current liabilities: 21.575m
Current ratio: 4.2
NWC (total current assets - total current liabilities): 67.5m
Accumulated deficit: 1.4b (WOW THIS IS HUGE)
Book value per share (Stock holder equity / Shares outstanding): -6.08
Monthly Burn rate (net cash used in operating activities / months): 12.54m
Estimated current cash: 258.467m (with cash from offerings)
Catalysts / News / Painting the picture
Sympathy play on China Corona Virus outbreak
Begins animal testing for COVID-19 vaccine
$250m shelf on Dec 31 2019 (All used from below prospectuses)
Jan 21 2020: $100m ATM
Mar 02 2020: $150m ATM
Enough cash for 20 months if counting cash from above offerings
April 08 2020: Identifies COVID-19 Vaccine Candidate, Human Testing To Begin In Mid-May
Technical Analysis
-Intraday pattern: Mountain
-Levels: 16.30, 17.50, 18.30
Original Plan / Strategy
First test short of 17.50 death line with half dollar and VWAP confluence
Review
A+ setup called out by my TAB, should have gotten bigger in this setup!!!
Lessons learned: If the setup is A or A+, I NEED TO GET TO FULL SIZE!
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-04-08 13:33:03 | NVAX | sell | $17.440 | short |
| 2020-04-08 13:33:20 | NVAX | sell | $17.410 | short |
| 2020-04-08 13:34:48 | NVAX | buy | $17.337 | short |
| 2020-04-08 13:36:49 | NVAX | buy | $17.320 | short |
| 2020-04-08 13:38:34 | NVAX | buy | $17.210 | short |
| 2020-04-08 13:38:41 | NVAX | buy | $17.210 | 0 |
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