Voting against the 14c acquisitionI'm going to vote against this 14c "deal" unless the BOD convince me that everything else has been done to maximize the shareholder value. I'd rather risk having a somewhat lower bid later on than surrender to such an unbelievable offer. I mean, has every pharmas, biotechs, edge funds and younamethem contacted offered less than $8M for two plants, IP, MCNA and $50M in tax attributes? Serious? Those are worth well north of $100M in my opinion. Why not send an invitation for an auction to some players like Roche, MRK, ENDO, LLY, BMY, GSK, NVS, PFE and AZN to name a few, or place an ad on eBay with a starting bid at $10M? Remember that MCNA performed much better than the alternative chemo in the pivotal clinical trial according to the links below. Adverse events were 1.5% versus 30.0% and the efficacy 100%-250% higher. I think that MCNA is not worthless and is not dead. The FDA is just requesting another P3 trial, a more robust one. I figure that any major pharma or biotech daring to invest roughly $50M and wait another 5 years could see earnings reaching hundreds of millions of dollars in return.
https://seekingalpha.com/instablog/592211-john-h-ford/4491146-telesta-therapeutics-near-term-catalyst-provide-multi-bagger-returns https://en.wikipedia.org/wiki/Telesta_Therapeutics