RE:Feedback from today's Meeting with Large Shareholders A fluff piece is about where you are vacationing, or home rennovations, etc. Calling out your govenetment and taking a stance on climate change isn't a fluff piece (woke virtue signalling, yes). By using his position as CEO to create friction, Paul is using the company's brand to promote an agenda. The answers today sound more like a CYA response as hopefully our BOD pressed him on this one for being unnessesarily bone headed.
I am still optimistic on several fronts for TH, but that one will stick ith me as a strike for PL.
SPCEO1 wrote: The two large shareholders that met with the CEO, CFO and CMO today are seasoned investment industry veterans who are not easily impressed. I am happy to report they came away from today's meetings very encouraged by what they heard. On a scale of 1 to 10, they put the meeting at a 9+. They are very knowledgeable about TH and therefore, the conversation they had with management was very substantive. I am pretty sure that any of us here would have been pretty happy with the way they conducted the meeting and the questions and issues that arose.
There has been some concern that TH was about to reset expectations on the phase 1a trial. That is not what they did at all. Instead, they acknowledged the trial is running longer than initally expected but stated this is not the result of any big problem in the trial. They expressed that they were very happy with the 1a and left the impression that the results were not as far off as some here may have feared. Naturally, they said nothing about efficacy but were clearly upbeat and confident about how things were going in cancer. The phase 1a trial will be followed very quickly by the phase 1b so there will not apparently be a lot of time, if any, between the two phases of the trial.
On NASH, the impression was that the situation is not as dead in the water as it appears. I imagine we will believe it when we see it when it comes to NASH but they think they have a really good drug for NASH and are determined to run the phase III in a way that does not blow up shareholders while financing it. The impression was the alternate means of financing it are
not just a pipe dream.
There is a decent chance we have a new IR person at THTX soon as final interviews are happening soon.
TH apparently did participate in some way at the virtual JP Morgan conference in early January and had a lot of meetings with institutional investors. It sounded like they were getting closer with JP Morgan as well so perhaps any future offering might be done via JPM??? At the same time, they claim no new financing is contemplated at the moment, but basically all management teams say that.
They confirmed getting Dr. Rothenberg on board was a real coup. I really think this is one of the most important developments at TH recently and it was buried in the last quarter's press release and ignored by the market.
While the company went silent on us for a very long time and the new corporate presentation left the impression nothing much is going on at TH, my friends walked away from the meeting today believing a lot is going on and that it can't be too much longer before all that TH has been working on starts generating actual news.
They even talked about the climate change article and Paul indicated the newspaper has a reporter they want to have on the company's side, so they are willing to do such fluff pieces in order to build a relationship with them.