biOasis Technologies Ord Shs V.BTI.H

RE:RE:RE:RE:RE:New Questions

[prophetoffactz]

"A small question, poof. With all of those wonderful things in your list, why did Dr. Deborah Rathjen try to sell the company for almost nothing?"
 

BTI had no money when she became President & CEO in March 2019, it went into debt(a risky no no for preclinical biotech), COVID stalled the company, and the worst biotech market in history hit due to multi-decade high inflation. It's been a perfect storm. 25% of US biotech was trading below cash at one point last year; and BTI was an indebted microcap onthe TSX-V. xB3 was also years from a clinical trial and the market lost interest in preclinical assets given the burn rate in biotech and time to revenue given ~ double digit inflation.  

With the markets focus on clinical stage assets Rathjen acquired the Phase II ready assets of Crescence in attempt to get to NASDAQ. When that wasn't enough she tried adding Biodexa and increasing the scale of the company. Trying to survive is still the issue for many in biotech. A 1-in-100 year flood has hit biotech due to a 1-in-100 year pandemic, the largest war in Europe in 70 years, and the highest inflation in 40 years. The market is more worried about putting food on the table than speculating on preclinical science potentially many, many years from market. People have to eat now before they worry about speculative science that may never pan out in 5-10 years.