RE:BANKRUPTCY or may be they considered something else....?Player: Yes, we were rooked with Telesta/Bionice. I sold a few Bioniche/Telesta shares at the runup when those bozos were convinced they would get FDA approval. Not enough to break even, but it did reduce my losses up to that point. The trade for PLI shares, was a bad deal. Previously I sold s some really cheap shares PLI on the runnup to $3.00 but Telesta still cost me.
I remember this though. The sciuentist who developed Bioniche/Telestas cancer treatment had also developed the standard of care for bladder cancer called BCG. He was a great scientist. But Telesta was a one trick pony and when it got under the big tent couldn't do its trick. So you cant put all your faith in the science and pipeling.
The market is NOT looking at PLI's pipeline. They are looking at financials. They are looking at management. If management can't pull off some real equity investment it's tittsup for Barcy and BioTech and all the rest of us. HIghTea has been right all along.
Thomvest doesn't want the patents. They just needed some collateral. Here's the thing, if PLI can't get a deal, then it means big pharma don't want it, and the collateral/patents are worthless.
Thomvest would know that.