RE:RE:RE:RE:RE:RE:RE:RE:Dumping 20M shares and keeping 10M warrants @$3.18Sorry guys. This board is now verging on the crazy. It is hard for me to write this here because I respect many contributors. To highly dislike this deal is one thing, and I don't like the deal myself, but all the conspiracy stuff to explain it is pure BS.
You can have the best science, promising clinical programs aiming at big markets, but if you don't have the money to do the work that needs to be done to get approval, the science is worth nothing.
I am a science guy here and me tell you that none of the two programs are slam dunks. They are very promising, but both lack data at this point to be highly confident in positive outcomes. For sure, your opinion can be very positive because YOU think that the holes in the story will be filled down the line, but it is only YOUR opinion. Clinical trials exist for a reason, to prove that drugs are safe and effective before being approved.
The idea that Thera is an unknown company with unknown extrordinary clinical programs is false. It would not be the first time that this board would take its dream for the reality. Remember all the Ibalizumab/Trogarzo saga. A deal too good to be true and all that, an unreactive market to such a great deal, then approval and a sharp rise in the SP, only to fall like a broken rocket when the sales were not there. The blame game was there too. The problem was not the drug, it was the management.
And now this board is at it once again with its lack of realism. We all knew a financing was coming, and we were overoptimistic about the possible terms of that financing. The SP was not going to triple without good early results in cancer and without knowing the protocol for the phase III in NASH. We are 6 to 9 months away from that. With the company burn rate, no way the company would have waited that long and being that low in cash before doing a financing.
You were all happy when they announced that they would go for general NASH. Yes, a huge market!!! But you thought it would be cheap, that it would not lead to significant dilution? Come on! Learn to deal with your disappointment, or should I say your lack of realism.
Again. I am fed up to read conspiracy stuff that management would be in cahoots with National Bank. Tanguay came from National Bank and former chairman of the board, Paul Pommier, still on the board an the biggest shareholder by far on the board, is also a former National Bank guy. So if their plan was to rob Thera's shareholders, it would have been done a long time ago. The IPO of Thera was done with National Bank.
To think that Svoronos and Levesque would have allowed a bad deal to favor National Bank is just crazy. Also, to think they only talked to Canadian brokers to do this financing deal is also crazy. They pay to be on NASDAQ, they pay a US based IR person, and they would not try to find a financing deal in the US???!!! Stop it!!!
I said it before and I will say it again. This deal is the best they were able to find. They did it as way to mitigate financial risks for the company. Bill Belichik said a few years ago about carrying three QBs on his active roster: "Nobdy needs insurance until you need insurance". This deal for Thera is insurance. The premium is high, but it is the best they were able to find and it insures that now they will be able to bring meaningful data to the markets. Again, yes huge dilution, but the company is now in an other league. General NASH and multiple cancers are huge markets.