Enthusiasm over Viropro (VPRO) stock died down after a huge jump in share price earlier this month. We’ll tell you why it rallied 1500% then — and why it will rally again today.
Viropro signed an agreement with NASDAQ-listed Spectrum Pharmaceuticals to license their technology on a multi-million dollar drug. Viropro (VPRO) will receive royalty payments on sales and milestone payments for licensing the technology. Greater Profits = Greater Shareholders Value, right?
The only problem was that insiders began selling stock and diluting shareholder value.
But today, the reverse happened.
In after hours, VPRO released a statement saying the company cancelled a Convertible Debenture (CD) equivalent to 108M common shares. That means these shares will not hit the market. Less Common Shares = Greater Value Per Existing Share.
So VPRO’s stock price should increase based on this good bit of news.