RE:RE:RE:One thing shareholders wanted ... We'll see by end of year, but that was the Luc/Board mistake, for better or for worse.
You are omitting the fact that the CFO then was Philippe Dubuc
Of course raising 100-150 million in stock issue would have been brilliant but at minimum they should have raised the 55 million by issuing stock rather than a stupid Convert!!!.We would not be in a going concern uncertain situation in the hands of &$.:):.:) Marathon had they simply done a stock issue back then.Fatal mistake number one
This brings me to my second point.
When Paul joined I made the following comments ....New Broom sweeps clean and strongly suggested that Paul s big weakness was in Financials and that he should fire Dubuc and hire a US connected competent CFO to compensate for his lack of expertise in Financial matters
Paul did not make that move and in my opinion this is FATAL mistake number TWO
Indeed leadership means being pro active and it also means recognizing one s weakness and fill the gap...
Unfortunately Paul being forced to be reactive instead of pro active will mean a big indelible black mark for him and as a consequence a lot of angry shareholders and we can only assume that he will continue to rely on Dubuc whom I consider as an ());:@.,;;Thanks Phillipe for the Convert thanks for the near death deal with Marathon and for putting the Company on life Support with the Reverse Split....
As for Paul he did not recognize the stupidity of the Convert and did not see the brickwall before it was almost too late
So Paul you have only yourself to blame for your demise
Wino115 wrote: I'd say they didn't quite have enough start-up/biotech RD types on the Board (they mostly all came and are still from large pharma). This is all hindsight analysis, but clearly not raising $100-$150mil on the Trogarzo sales bump in the share price was a massive mistake for which we and the company are all paying for. When you get a huge surprise jump in your shareprice, almost every biotech and biotech banker will tell you to take advantage of it with equity, not debt. Luc and co did not have the proper marketing study around Trogarzo and mistakenly believed those market share numbers (although, so did the market until it hit the fan). It's all hindsight, so easy to see now, but by way of comparison, a few of those biotechs that got caught up in the Gamestop frenzy immediately raised boatloads of capital that will fund everything they ever wanted to. The difference was they were startups and had venture cap guys on their Boards. THTX should have had that skill plugged in instead of large Montreal pharma types. Anway, water under the bridge -- we're in cost cutting, 9% rev growth territory and hope around a PDC working better. Baring that, maybe they surprise us with a new product add-in and then enough POC to convince someone to partner in the areas they've pushed further in like immuno, anti-metastatic, etc... We'll see by end of year, but that was the Luc/Board mistake, for better or for worse.