RE:Bioniche shareholders upset at planRead this and weep. Belliville Intelligencer Aug.10 2013
McRae admitted Bioniche's viability hinges on Urocidin.
“That (failure) would be terrible,” McRae said. Bioniche recorded about $30 million in revenue for 2012, while shouldering a $55-million debt load. The value of Bioniche shares have plummeted from $5 to the current trading rate of about 33 cents
McRae anticipate it could take another two years before Urocidin is ready for sale, Gubitz contend it could take up to five years.
“I view it as irresponsible for someone to say it's going to get to market,” Gubitz said.