RE:Poison PillWe don't need a poison pill as big pharmas have no expertise in PDT/PDC and in the hardware that comes with it. So they will need the team and the UHN expertise. TLT is also structured in a way now that would make it more difficult for a big pharma to force a takeover as the drug division depends on the device division.
So expect more of a collaboration, just like we usually see in the industry.
Anyways, big pharmas all have their niche markets. That's why it's not rare to see a biotech collaborate with many big pharmas. A urology focused big pharma might not necessarly have an established network in neurology (brain cancer). So that would be easy for TLT's BOD to turn down some offers.
Forced takeovers have never worked anyways and it won't for something big pharmas don't have the expertise.
So TLT will have time to grow revenues before a global takeover happens.