RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Dumping 20M shares and keeping 10M warrants @$3.18Begging your pardon, but we already got an enormous value enhancer when the FDA said that TH could be one of the relatively few companies that has the privilege of chasing the giant NASH market. The stock started to react to that and then the company squashed it with the offering. There is no legitiate reason why TH gets zero value for NASH at this point. We really should not have to wait for any new trial success when other NASH stock apparently do not need to to in order for the market to give them some value for their NASH programs. I agree that TH should not get full value for their NASH program given the odd way in which they got here but assuming the market does not need to give it some value is just not a viable argument at this point.
Wino115 wrote: I am also totally in the camp you are in, that evidence of success on both trials is the only proof that will work to turn around the markets ignorance (and it is more ignorance than ambivalence). It's these value-enhancing actual facts that create complete support for a higher valuation.
Biotechs are also hard because there's just so many of them. It's very easy to find the 5-10 you are interested in that are much closer to value-enhancment or have much more actual factual science proving the drug is on it's way to commercialization. We'll get there, but we clearly are not. It should be this year -- 2021.
jfm1330 wrote: Sorry SPCEO,
This a dialogue of the deafs or to put it another way that is line with the times we are in, we do not agree on facts, so it is very hard to have a healthy discussion. I don't agree that board and management at Thera are a bunch of fools or incompetents on the financial side of the business. They did not make a better deal because there was no better deals on the table anywhere. Also, Thera's SP is not close to other NASH players because clearly the market does not see the actual situation of the company as you, me and others here see it. If Thera would obviously look like such a bargain, investors would drive the SP much higher, but it is not the case. Why??? Many here put the blame on the management, but if the bargain was so obvious the management would have nothing to do. Do you think we are the only ones able to make comparisons of market caps between Thera and other NASH players??? Seriously. Come on! Many are aware of this situation but for some reasons are not convinced. Analysts are giving no value at this point to NASH and oncology programs? Why? Don't tell me it's because of management. Is it so hard to acknowledge that at this point in the development of these two programs the market is not convinced they have very high chance of success? Cry as much as you want about the financing, one thing is sure, a lot of financial risks are now out of the equation and given the size of the markets they are aiming at, even a 120 M shares outstanding, Thera should be a bargain in your view, in my view, and in the view of many here. So why with less risks and still very high potential return is it still a bit above 2$ US? Why. Before financing, after financing, the market has not changed its view. It still give zero value to the two clinical programs.
Think about it. Thera bought Katana two years ago for around 15 M$ CAN. Why were they able to buy it at such a cheap price if it's the next blockbuster in cancer? Two possibilities, potential buyers were not convinced by the science behind it, or they were wrong in their analysis, the science is in fact great. Here we think the science is great and that odds of success are good. Great! But two years ago, all Katana was able to get for that great science was 15 M$ from Thera, a very small pharma from the same city. Is it possible that most US investors won't believe in Canadian science until clearly proven wrong. I say MOST US investors, not all. I am just asking the question and it is not aimed at you because you clearly believed in Thera since a long while. When I read some here about the Canadian management of Thera, or the fact that Thera is a Canadian company, it is not hard to believe there is some kind of bias against Canadian stuff in general. The little neighbour that do not belong in the big leagues. This prejudice seems to be there, at least from my point of view. I know there are many Americans here that are shareholders, so clearly this not true for everybody, but to make a stock rise you need more than a few people.
I think the actual undervaluation of Thera is due to many reasons. But it is real. It is not the result of poor promotion. Again, analysts are well aware of everything the company is doing. They know the whole story and the give zero value to both clinical programs. What we see as convincing is not convincing them. That's the reality. Only new clear positive data in cancer and a clear protocol and timeline in NASH will change that.