Brutal CC = easy decision.
That CC was close to the worst CC in history. General Custer's last CC might have even been better.
Econiche subsidy in the fall might be our best near term catalyst? If we didn't get one this spring, with Growing forward funds available to us, and the largest beef recall in Canadian history fresh on people minds,(one of the biggest ever) then we are not getting one in the fall. That is very telling as to where Graeme's head is at regarding his precious VMC. And to wait a year to just be able to manufacture a dilutant for Folltropin is a complete joke.
Japan and Australia are near term possbilities? No they are not. They are clearly (even if approved) at least a year away from the VMC being able to produce it. So realistically they are probably 2 to 3 years away from selling Econiche anywhere. Graeme is great at making things sound like they are right around the corner, when in fact they are miles away.
Health Canada submission is an 8 out of 10. If it was an 8 out of ten, why did he say they submitted the way a Urologist would want to see it. Then states that essentially they f'd up and had to change the submission to the way an HC panel would want to see it. Shouldn't someone have known that is how they wanted it presented? Couldn't one person at Bioniche have called or emailed HC to see how they wanted the submission presented?
It is really quite simple, Graeme has no plan except to sell Animal Health "because Evercore told us it's the best route". Hmmm... the broker that stands to gain $10+mm on a sale of AH thinks it is the best plan?? Conflict of interests anyone??
They need to scale Animal health, which everyone here knows can be a short term turn around with anyone with a vision running the show. Even the slightest marketing and on line presence and real focused sales force, would vault our sales upward in the near term. Begin selling Sin Susto in bulk and start Human trials for Oncocidin and Sin Susto asap.
Sell Urocidin, keep MCC human and Animal and off-load all the trial costs to whoever buys it. Retain a royalty only and leave the risk to someone with deep pockets. Sell the VMC for pocket change if you have to. The 700k burn a month must go. Graeme will never give up on Econiche and his dream to manufacture in the VMC. He will also never give up on hte notion that he can become the king of Canadian Biotechs, if he get Urocidin to market without blowing up the company in the process.
The decision to vote for a new managment team is becoming easier and easier.
beech