RE:Within the monthRoughly two years ago we lost a sizable client who owned a lot of shares because he passed away and his heirs moved their money to their own managers. We no longer have to report our holdings (I think because we now own less than 5% of the shares - that was true last year too but I think you need to file for the first year after dropping below 5%). In any event, our holdings did not change in a substantial manner last year but are slightly lower. We are still one of the larger shareholders of THTX. If THTX can pull off a decent NASH partnership, that would be helpful. If it turns out cancer is not dead, that too would be helpful and clearly there is a chance it could be resusitated. The legacy drug business is not exciting but the current valuation of the stock likely is just too low relative to what it is worth, particulalrly if THTX manages the business well. So, I am hoping THTX catches a break with NASH and/or cancer and the stock bounces nicely on such news and gives long term shareholders like ourselves a reason to continue to be long term shareholders! We should know before too many more months have passed about the chances for NASH and cancer and if management and the board have a decent plan to manage the legacy drug operations and the company's finances in a way that makes sense.
SABBOBCAT wrote: We know there will be some information flowing within the next month as Feb 15 is the deadline for a couple things:
- FY Earnings:.Top line guidance has been narrowed so there shouldnt be many surprises there, what will be interesting to see is the R&D expenses. If they were struggling to enrol, will there be savings, or did they ramp up on other efforts? Management will finally have to speak and answer questions about the pause. I would like to think they pre-announce the plan ahead of earnings to have two more purposeful discussions. One for the future of the oncology program with data to support where possible, and the other on the financials and strategic path forward for the company.
- 13F Forms: I am interested to see where the 7.5M shares ended up in those Nov/Dec after hours crosses. Was it internal suffling? or was it someone wanting to take a position? We may never know. The other theory I had was that it is someone wanting to start building a position, they initially took the shares in Nov in anticipation for good news, but then when the trial was paused they didnt want them on the books over year end. If the shares are sitting with a bank, perhaps they will cross back to the client once the path forward is clearer? who knows, but I am really curious.
- 13G Form: SPCEO by the sounds of it you had some generational churn in your book which is unfortunate. I am curious to see the 13G this year