Something to readLike i said before reason for insiders selling is to buy that expensive hand cream ...for the xmas break?
Another email i got from TTH office
Mr. xxxxx
I have been away on business in Europe last week so was unable to
respond.
Firstly, please note that the underlying business fundamentals of the
company have not changed so I do not have an explanation for the decline
in share value. Also, note that we do not simply issue press releases
unless there is material news to release. Below is an update:
The AZD 103 program is on track per the timelines provided in our recent
Phase I press release. The Elan payment is due one year after the
agreement was signed but the payment terms are 30 days so we will likely
receive the payment by the end of this month. Your assumption that we
have received the payment and not press released is incorrect.
With respect to the diabetes program, we have publicly stated in our
MD&A that Novo is in receipt of the final data and subsequent to their
review will make a determination on exercising their option. We are in
partnership discussions with Novo and other groups on the diabetes
program and we are hoping that the issue will be resolved before the end
of calendar 2007. Essentially, by that time we will likely either have
clarity on a partnership or Transition will move the program forward on
its own.
The reasons for the stock split were clearly articulated and allowed the
Company to meet the NASDAQ requirements as well as to be in line with
the capital structure of peer companies on the NASDAQ.
Your other email expressed concerns about "insiders selling off the
stock". Please note that all insider trading is passed by our securities
lawyer to ensure compliance with all applicable laws and if you wish to
view insider sales they are all reported on WWW.SEDI.CA. With respect to
your comment regarding contacting the TSX with your grievances, please
feel free to contact them as the company is in good standing.
Regards,
Elie Farah
CFO & VP Corporate Development
Tel: 416-263-1203
Fax: 416-260-2886
Transition Therapeutics Inc.
101 College Street, Suite 220
Toronto, Ontario, M5G 1L7
Statement of Confidentiality
The information contained in this electronic message and any attachments
to this message are intended for the exclusive use of the addressee(s)
and may contain confidential or privileged information. Any unauthorized
use, review, dissemination, or copying of this message and/or any
attachments is prohibited. If you are not the intended recipient, please
notify Transition Therapeutics immediately at either (416) 260 7770, or
by return email, and destroy all copies of this message and any
attachments. We thank you in advance for your cooperation.