You get what you get in biotech
especially when the board doesn't own much and senior management don't own much. More so just caretakers and when the cancer drug flopped they must have wanted out.They did a nice job raising the cash from the US and French pharma but by the looks of it they are folding up the tent and going home. That is a whole lot of free real estate and cancer trial data to give away to get another biotech to take the cash of your hands for what amounts to nothing. you could argue that going this route saves 4 or 5 mil in severances for management but still you got nothing for R/E and patents. good for PLI shareholders. They cleaned up on this. doen't look like there was too much spunk left in TST management. very weak deal. lets see if shareholders have more fight in them than management