TELESTA THERAPEUTICS INC T.TST

Latest News Release...

[pennylane101]

I thought I read it in  the MD&A but it was actually in the news release: 

Telesta's management team and Board of Directors are actively evaluating opportunities to create shareholder value, both through the monetization of Telesta's key assets, including its MCNA franchise, and through the execution of one or more strategic options including, but not limited to, the sale of the Company, the acquisition of development-stage or commercial assets, or the merger of the Company with another public or private biotechnology company.  As previously reported, the Company is considering the engagement of an investment bank if the Board of Directors determines that such an engagement would accelerate the successful conclusion of this strategic review process.

Since Telesta has determined that it will seek a partner to develop MCNA for the U.S. market, following the recent decision by the U.S. Food and Drug Administration (FDA) to require an additional Phase 3 study prior to considering commercial approval of MCNA, Telesta is in discussions with its existing development partners and is actively approaching other potential partners.  As these discussions are held under confidentiality agreements, Telesta will only be announcing developments on these fronts when they are finalized.

The Company continues to identify and implement opportunities to reduce ongoing operating expenditures and estimates that average cash expenditures for the last quarter of the fiscal year will be less than $0.8 million per month. Almost half of these ongoing expenditures are related to the Company's Montreal MCNA manufacturing facility, and the Company expects that responsibility for these costs will be taken up by its MCNA development partners.

Dr. Michael Berendt, Telesta's Chief Executive Officer and Chief Scientist noted: "This is a difficult time for our shareholders as we work on multiple operational and strategic fronts simultaneously, while our ability to communicate our progress on these fronts is constrained by our confidentiality obligations and the need to negotiate in parallel with multiple parties.  I would like to assure our shareholders that our Board of Directors and management team are extremely aware of the need to move quickly, and that all of us are working diligently to successfully deliver on our mission to preserve and create value for all of our stakeholders."

[cheetio]

better one..........special resolution amending the articles of the Corporation to consolidate the issued and outstanding Common Shares at a ratio of up to fifteen (15) pre-consolidation for every one (1) post-consolidation Common Share if, as and when determined by the Board of Directors 

[pennylane101]

They made that announcement back in November 2015 when everyone thought the FDA would approve MCNA.  Why would they have a share consolidation just prior to selling the company?  What purpose would that serve?  I'm curious Nocashio  ;0) , you're bringing this up now because....you really care ?!

[pennylane101]

Personally, I don't think management would infuriate investors even more by announcing a 15 to 1 rollback within the next few weeks.  It woldn't be a popular move.   I could just see investors armed with pitchforks camping outside Telesta offices  if that were to happen. Telesta's management team and Board of Directors are actively evaluating opportunities to create

[cheetio]

now ..now  .. shareholders have spoken

[cheetio]

Marriage

[DryBones]

Back in November, Management suggested a share roll back and investment in another oncology firm as a possibility.  Had they gone ahead, and bought say, Oncologic it would have been a smart move and affordable.  But they must have believed their own hype and decided to wait for an approval from the FDA.  I had actually suggested purchase of ONC.to back then.  It would have a

[BrendanC]

highly unlikely. They have 2x more cash on hand than their market cap. Not to mention that they are cutting employees to save on money, indicating that they are in saving mode and not activily persuing more cash flow. Also, not only would investors be outraged at this decision, they have many many employees who have been purchasing shares through option plans who own in at .30-.40/share. They

[cheetio]

cutting employees to save on money   ...yeah right.....saving mode.......haaaahhaahhaaa U.S. based Chief Commercial Officer........ two U.S. based Senior Directors. Total current staffing is 59. ............. lease term extends for a duration of 147 months..........$10 thousand per month over the term of the lease.