From the Globe and Mail article I find this interesting....
Bioniche chairman James Rae and Mr. McRae, Bioniche’s CEO, declined to comment on the shareholder letter. But in a news release the company said it is aware of the issues around the stock’s performance and that the board has been working over several months to “unlock the inherent value in the company’s assets.”
It said Bioniche has received “several strategic partnering and investment related offers” that are currently under review, there have been talks with outside advisers, and a major U.S. investment bank is being hired.
https://www.theglobeandmail.com/report-on-business/investment-group-urges-bioniche-to-narrow-focus/article11451615/