RE:LOSERS UNITE.Oh Artsey, you may be correct, but I do believe the good Dr's direction is/was the only route. We can all look back with the good old 20/20, but most of us all stuck with him. Geese when Endo delayed us by several years, we should have all taken a huge second look.
We are now into another 5+ years of trial, if it even happens. Let's face it, this puppy may never fly. I've said it before, Bioniche should never have ventured into Human Health. Our Phase IIIa trial was ill advised and obviously hasn't stood the mustard with the FDA. Endo, in their wisdom, delayed and basically deep sixed Urocidin, in a desperate attempt to sell Valstar. Our Bioniche execs sold their and our souls to Endo, and Endo did a great job at skewering and maybe killing MCNA.
Our present execs are desperate and nearly as inept as the previous regime. Time will tell, but so far, they are equal or less in their accomplishments.
I now believe they have two clear options.
1) Immediately sell everything and feed the value to the shareholders. Remember, us common shareholders get the very bottom of the barrel.
2) Acquiesce to the best offer of a partnership as soon as possible.
Any delay in either of the above two mentioned directions indicates the present regime wants to suckle from the teits of us shareholders for as long as they can get away with it.
As as a long term shareholder, I now see there is very little value in holding on. In the last few years, we have seen top sp's of $2.37, $1.96, and $1.00. Selling at any of these prices would have been smart moves. Notice the continuous depletion of top sp's. This is very usual for a company going extinct in the long run.
The very best scenario for us now is a lucrative buyout at maybe $.50. What is more likely is a 'take it or leave it' buyout at $.20. The FDA is basically saying MCNA is nothing at this point. Like it or not, that is exactly what they are saying. There are far too many yea sayers on this board, skewering many investors into believing in this product. Face it boys and girls, MCNA may never succeed. In 5 years, there are so many new promising cancer therapies on the horizon, that MCNA may be totally eclipsed.
I am a long term investor in TST, but I now believe I am seeing the end of the dark tunnel.