A few months ago, I was sitting in my office and watching CNBC.
I had no idea that this company was making such a big splash in my industry.
The network had just launched a new round of financing for Milestone, a Boston-based biotech company that makes insulin and injectables for diabetics.
It was a smart move by the network, which is usually one of the best places to be on the phone with companies looking to raise money.
I wanted to buy a share, and was in talks with the company to get in on the action.
But when I called up Milestone’s founder, Jonathan Gruber, I got a rather surprising call from a different person.
“What are you talking about?”
Gruber told me.
“I’m talking about Milestone.
The drug company,” I told him.
Gruber was referring to the company’s $15 billion investment in a clinical trial for a drug called rTMS for the treatment of epilepsy, which it hopes will be used to treat a range of diseases, including epilepsy.
He then told me that, for the time being, he was not interested in buying shares.
It had been months since the first round of funding, he said, and it would be hard to get investors to pay nearly $20 a share.
The network has been making a lot of money off the rTMR trial, and Gruber said he was looking to take advantage of the momentum to get into the more speculative business of funding more drugs.
But as I talked to him, I noticed that the other side of the conversation was even more disturbing: Gruber was asking me to buy the stock without giving me any indication as to what he was thinking.
It seemed as if he was trying to buy my stock without me knowing it.
I asked why he was asking.
Gugans response was that the rCNT was not a drug and that there was nothing that I could do about it.
I have been using my own stock portfolio for almost a decade, and I have never heard someone ask me for a percentage of the portfolio, or even ask me to share the risk, according to research by David Pimentel, an analyst at Citi.
The rTM is one of several medications being developed to treat some of the most serious and debilitating diseases in the world.
It has been used for years to treat epilepsy and other disorders, but the drug is just beginning to show clinical promise.
The rTMM has a list price of about $10,000 per share, but Gruber’s offer to buy me out was not for the same amount.
It came from a hedge fund, and its value has risen as the company has raised more money and as the drug has gained traction in other markets.
Guban’s offer, however, would be nearly three times more than the price that I had already paid for my own shares.
I was not buying the rTM without asking for a discount.
I just needed to be able to say, “I want to get a discount on my stock,” Gruber explained.
Grunber and Milestone are no strangers to the stock market.
After the rTCOM trial, they sold their entire portfolio, including $10 million in cash, to private equity firm TPG Capital, which had been investing in biotech companies.
In 2013, Gruber also sold his entire portfolio to private investors, and he has since started his own investment company.
But this latest round of venture capital financing appears to be something different.
The company, which does not have a market value, is worth about $6 billion.
It is owned by two other companies, Milestone Biotech and Manna Pharmaceuticals.
These companies are also working on new drugs for epilepsy, and they have also been making some big acquisitions, including a $4.5 billion deal to acquire EpiPen, a life-saving insulin that is being used by some people with diabetes to treat seizures.
It is important to note that Gruber is not the only one to make a bid on my shares.
A hedge fund called Sacks Investment Group has been buying up about 2.5% of the stock.
Its bid has not yet been publicly disclosed, but it is likely to be a lot higher than Gruber and his company’s offer.
Granber’s company is the second-largest pharmaceutical company in the U.S. with revenues of more than $70 billion.
But the price of its stock has soared to more than three times the value of the rest of its portfolio, according the Sacks research.
I could have bought shares of the company without knowing it, and then I could potentially be taking a significant risk if it did go public.