Q: Your updated thoughts on IGX. Would you consider it a Buy, Sell, or Hold? Thanks
5i Research Answer:
With market cap of only $37M, we would excercise caution. IGX has minimal revenue and $12M in obligations. It is losing money and cash flow is negative ($6.5M in the last 12 months). It has an interesting pipeline, but is early stage. Its auditor put in a 'going concern' note with its last financial statements and it is going to need more capital. This is too risky for us to recommend, and we would lean to selling.