We've seen a lot of creative financing deals by health-care companies in recent months. From Exelixis
Call me old-fashioned, but I'm fond of a nice traditional secondary offering, like the one Sequenom
It wasn't a small offering, either. Sequenom sold an additional 5.5 million shares, with another 825,000 available if the underwriters need them. That'll increase the total shares outstanding by about 14% if the overallotment is used, but it'll also add nearly $100 million to Sequenom's balance sheet. Considering that it had just $36 million in cash and short-term investments at the end of the first quarter, and an expected burn rate of $26 million to $28 million for the year, the jump in stock price couldn't have come at a better time.
Sequenom currently sells tools for genomic researchers, but like competitors Affymetrix