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Stockreport

Check-Cap: This Overlooked Medical Device Company Is Extremely Undervalued [Seeking Alpha]

CHECK-CAP LTD COMMON (CHEK)  More Company Research Source: Seeking Alpha
Last check-cap ltd common earnings: 11/5 06:53 am Check Earnings Report
US:NASDAQ Investor Relations: ir.check-cap.com
PDF Summary Thesis Summary Check-Cap (NASDAQ: CHEK ) is a clinical stage medical devices company engaged in the development of C-Scan. C-Scan is aimed at replacing colonoscopy for colon cancer screening. I believe the company to be extremely undervalued. Check-Cap was founded in 2004 in Israel and was IPO-ed during 2015. It has since been trading at over $30/share but has recently slumped to just over $3/share with a mere market cap of $18.5M. Back in October 2017, the shares traded at over $23 and I believe today's mispricing was caused by a chain of events that included a low sensitivity result in the CE Mark study, a $2.5M Registered Direct Offering that was announced in November 2017 at very dilutive prices ($1.1/share) and then a large $20M offering in May 2018 that was also quite dilutive and included issuance of units at a price of $5.5. Each unit included one share and one warrant to purchase a share at a $5.5 strike. So, the mispricing was the result of bad c [Read more]

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