Urocidin value as Mr. Wells Gubitz sees it"....Shareholders are also being misled about the risks and timing associated with Urocidin. No one can predict the outcome of a drug development program or whether the FDA will ultimately grant approval. The facts are that until the FDA provides guidance, no one can say what the timeline or costs will be for Urocidin to access the US market.
The Concerned Shareholders’ belief, based on years of experience in human health drug development, is that Urocidin is a high-risk program and it’s reasonable to assume it will take years, possibly five years or longer, for it to get to the market in the U.S., which assumes a successful Phase III trial, something no one can predict. The cost before that time could easily be in the tens of millions of dollars. By the Company’s own admission that number could be $40 million......."
(TORONTO, August 8, 2013 – The Concerned Shareholders of Bioniche Life Sciences Inc. (“Bioniche”), William (Bill) M. Wells, former Chief Executive Officer of Biovail Corporation, and Greg Gubitz, former General Counsel and Senior Vice President of Corporate Development at Biovail Corporation (the “Concerned Shareholders”), today commented on Bioniche’s plans to undertake an expensive and highly dilutive equity financing, days after telling the Ontario Superior Court that it would carry on only in the normal course of business prior to the Special Meeting of Shareholders, scheduled to take place on November 5, 2013.)
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.... and now respectable Mr.'s Wells and Gubitz fleeped around and suggest us to risk 100% of our money on this one pony, without having anything (AH) to secure our backs.
They were fundamentally against it during all their compaign after all, did they?
They clearly stated that Urocidin thing doesn't fit Bioniche profile and financial position, in other words too big a piece to swallow for such a PO S as our company.
Here is another thought. In my previous eMail I stated 3 possible reasons for this 180 flip / flop.
Considering fact that G&W credibility is damaged, to say the very least, I guess another theoretical option #4 can be projected:
G&W, having nothing to do with Animal Health business (is it correct?) and having all their
expertize in Human Health (is it correct?) may be were not in fact interested in AH????
Was it all smoke and mirrors and just honest and highly ethical game???
even Santa mentioned in one of his open letters to shareholders that he was surprised how
HH people were interested in AH business and what the heckk did they actually know about it.
They did want in the first place to put their hands on Urocidin all along???? so if this is the case, then how can you deal with such a people???? So I honestly have no idea what's going on, as apparently a lot of other shareholders who downloaded tons of stock last a few days after this bloody announcement. Going from .38-.41 to .31 on a few million shares speak volumes Mr. G&W, doesn't it?!
TIME TO GIVE US EXPLANATION W TF IS GOING ON.