This Canadian biotech stock is undervalued, analyst saysLoe said recent capital structure adjustments have minimal bearing on our investment thesis for the firms lead drug SAT-3247, while materially strengthening the balance sheet and reducing financial risk. Satellos recently completed a 12-for-1 share consolidation, followed by a US$50-million equity offering, which Loe said meaningfully improves the companys ability to fund ongoing Phase II and future Phase III clinical development.