RE: New Thallion - Precursor to takeover
I've been ask the three following questions:
1) Is Thallion still talking to 3rd buyer?
Answer : yes.
I asked IR to confirmed that Strategic Review is over. They told me it was still open.
Current documents permits TLN to continue such talks see 3.4
2) Desjardin had access to GBM preliminary internal
data?
Answer:I think they did. Fairness opinion talks about internal andconfidential data. I can't see them making a fairness opinion withoutthe rational for management bullisness on 4601.
3) How tax losses is a precursor to takeover?
Like I said it before, buyer could not have used those losses anyway.
So,conversion into cash is the only for them to generate some value out ofit. Otherwise, on Acquisition day, those losses would not have beenused anyway.
4) No partnership - just a takeover.
For the buyers, partnership makes no sense. It's cheaper to buy TLN at this point.
Partnering will cost them at least 200 Million...
For that price might as well buy the company.
5) looking ahead...
Thallion is at a cross closed to those pivotal results.
4601 and 232 are closed to get FDA approval (accelerated approval).
After arbitration, 232 will get full valuation.
After GBM results, 4601 will get full valuation.
Those milestones are now possible with the new cash, generated from tax loss convesion.
6) Current SP performance
I think the market is begging for clarity from management.
Also, all small caps biotechs have pulled back -25% since late May.
So, we are trading accordingly to the rest of the pack.
7) RBC seems to be using the same dirty tactic they did back in Feb-March
Cap the Ask-Bid level II picture with a large sell order 48000 at 0,15$
And waiting for the weak hands to show up or fall.
Buy small lots from 7500 to 10000 shares per day at the lowest ask price possible.