RE:RE:RE:RE:RE:RE:Feedback from today's Meeting with Large ShareholdersHey! One positive way to look at it from a pure investment standpoint is that if he feels free enough to speak his mind openly like that, it's because he won't need the government to help the company in the future. All that being said, this is anecdotal. Nobody will remember this in a few months. Again, he just said obvious things. Even Legault knows that building a 5 billions tunnel in Quebec City is foolish. He will find a way to reverse course on that.
SABBOBCAT wrote: Exactly, it is impossible, so senior executive of most public companies do not make these types of statements. They are restricted from, or strongly discouraged from, making political or polarizing statements. The one exception is if the executive is HEAVILY invested in the company. By this I mean paid in capital, not earned options.
The frustrating part is that they haven’t PR'd since early December, yet he takes the time to pen/proofread/submit this letter? Not only that, he is criticizing the government that was instrumental in the turnaround of the company when it was in hard times and still remains a shareholder to this day (albeit at a much smaller scale). Not a great way to make friends and win favor unless you are on the cusp of receiving a material investment from an ESG manager. So for now I will remain frustrated and hopefully I can read between the lines that they are courting some PM that this will curry favor with.
Also, I am Canadian that has lived east & west and I fully understand the circus that our political environment has become. It's not quite the cluster that our southern neighbours have experienced, but a mess all the same.
jfm1330 wrote: It is impossible for him to make such a public statement as a private citizen. He is well known to be CEO of Thera. So it was either silence or his tatement being associated with who he is publicly. That being said, why do you see it as a bad thing if you are not against what he wrote? He simply said pretty obvious things and to me it is a good thing to hear it from a capitalist businessman.
Again, as I said before, Bernie Sanders would be a centrist here in Canada and Quebec. The Canadian Conservative Party is more to the left than Joe Biden is. We have universal healthcare and no political party would dare to change it. That being said, we have a woke prime minister, which is very bad, but his wokeness has nothing to do with fighting climate change or promoting vaccination worldwide. He bought a pipeline and does almost nothing to promote vaccination around the world.
SABBOBCAT wrote: I never said I was against either. But what do you think PL is paid to do? Hold the gov't accountable for their covid response and climate initives? I was unaware that was in his job description lol.
If he wants to do it as a private citizen I am all for it, but not as our CEO
jfm1330 wrote: If you are against fighting climate change and vaccinating the planet you are living in an alternate reality. This has nothing to do with a woke agenda, virtue signalling or extreme left. This is just science based realism. It just proves that our CEO is sane.
SABBOBCAT wrote: 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.