Jason Napodano, CFA
Research analyst, medium-term horizon, biotech, small-cap

Omni Bio Raises Cash, Wastes No Time Getting Back To Work

On April 24, 2014, Omni Bio Pharma (OTCPK:OMBP) entered into a $3 million private financing plan that secured $2 million as needed and $1 million in future funds from yet to be named sources. This is clearly good news for the company, as Omni Bio exited 2013 with only $485K in cash. Burn for the three months ended December 31, 2013 was $295K, and that was because the company was - for all intents and purposes - dark during that time. Burn for the two previous quarters averaged $450K. As such, we believe that cash as of March 31, 2014 was down to less than $200K.

The secured financing took place with Bohemian Investments, LLC, a Fort Collins,...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details