With the stock market showing unpredictable periods of strength and weakness, it has become increasingly difficult for small firms to secure public financing for drug development and operations. While several options exist, such as corporate partners, PIPE financing, accessing income-producing assets, convertible bridge loans, venture debt, reverse mergers, etc., what are the pros and cons of each, and is there a preferred strategy on when to tap into these sources to meet capital needs?



Objectives:

Identify nontraditional or overlooked sources of funds and their tradeoffs.

Understand the typical terms, conditions and costs imposed by various investors and lenders and their effect on a small company's flexibility, income, risk and control.

Develop a framework for making financing decisions.