Argos Therapeutics (NASDAQ:ARGS) recently completed its IPO, raising $45 million in an offering at $8/share. This is far below the estimated range of $13-15 for which the company had initially hoped. The stock opened for trading on 02/07/14 at $8.90, and quickly dropped to the offering price of $8/share, with 19,048,958 shares outstanding, for a total market capitalization of $152m.
This company initially filed for an IPO in early 2012, then subsequently withdrew its application, citing market conditions. It would appear that the market was not any kinder to them this time around. Here, I detail my investment thesis on ARGS. As positive as I am on the technology, I would recommend avoiding this stock, as the cash...
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