"Dear fellow shareholders. It looks like my call was herd by G&W.
I'm satisfied with their response, I think it's clear, factual and reasonable."
I'm delusional? You actually think the ex CEO of Biovail (formerly Canada's largest Biotech company) and their corporate lawyer were waiting for "thePlayer" to demand answers before they decided to respond to shareholders? You abused them for filing incorrectly and now they are "clear, factual and reasonable"? I wish I could say the same for you. Do you think it's possible they were waiting for the quarterly numbers before they responded?
The reason why I said the MD & A was the greatest document they have ever put out, was because for the first time in Bioniche's history, they were forthcoming and offered some guidance. Yes it was only after GW openly called them out for the third time, but it was still forthcoming.
It was bullish in that they have been approached by 30 companies wanting to partner with them on Urocidin. They have 3 written offers to partner in the Animal division. Most exciting, they have a meeting with Health Canada in June about NOC for Urocidin. By publishing it (yes in Australia only), they may have actually expedited some of the fence sitters.
I also said it was probably too little, too late for shareholders. I think most have already jumped ship.
Let me ask you this player. In the unlikely scenario that Graeme signed a North American deal with Glaxo with say $50mm up front and all production, trial costs and milestones, then the EU with Sanofi for another $50mm plus milestones, would you not want to see what else was up his sleeve? I'm pretty sure he has lost Bay street and all but a handful of brokers with the disdain he has displayed towards shareholders. I'm as peaved as the next guy, but it might make the decision a little tougher with $80mm on the balance sheet, no RCP and a $1.50 SP.
Don't forget thePlayer, it is a community bulletin board. All are entitled to opinions. Not just you.
beech