RE:and so we waitI would lean more to Explanation 2 than Explanation 1. I'm not sure if Roger has a problem getting big players involved, but he may be particular about the kind of deal he is willing to accept.
There was some indication of this in 2020 when he may have passed on a deal with Roswell Park to use TLD1433 in a NSCLC trial that could have brought a lot more attention to TLD1433 PDT.
In 2020 McFarland Labs and Roswell Park researchers collaborated on a project to investigate the use of TLD1433 PDT for NSCLC immediately after surgery. The procedure would have involved:
1. administration of TLD1433 into the thoracic cavity,
2. surgery to remove all "macroscopic resectable cancer cells"
3. light activation of the TLD1433 with an optical surface applicator (designed specifically for intra-operative PDT in the thoracic cavity by Gal Shafirstein of Roswell Park) to eliminate any remaining viable cancer cells
4. closing of the surgical wound
But I don't think the in vivo studies were ever done and Roswell Park ended up doing two phase 1 NSCLC IO-PDT clinical trials using photofrin rather than TLD1433.
We never found out why photofrin was preferred over TLD1433 for the trials but there was speculation that Theralase may have been unable or unwilling to come to terms with Roswell Park because they had plans for a quite different kind of NSCLC trial.
DJDawg wrote: Something of an undewhelming PP.
I really don't know what to make of the state of affairs with TLT. I disagree with any bashing back and forth. I continue to believe in the science. I don't think that the share price reflects the science, but sadly, the confidence in the management team.
Clearly, RDW wanted to raise more money but does not seem to have the connections to make it happen.
Explanation 1
He is an engineer/CEO with a bit of a history with OSC whose company is on the venture exchange in Toronto. I worry that he simply doesn't know enough people to call to invest. Boston based biotech companies can raise 500 million on animal data alone. Roger, not so much.
Explanation 2
He is working hard to avoid any deals that would cause him to lose any autonomy over the company. As such he is not working hard to get any big players involved. This company is his legacy and he has worked too hard to share it. As such, he is calling around and getting cash from people he knows in Toronto and that is the best he is willing to do.
Obviously Ruvidar should get BTD but nothing is certain in this world.
Since he didn't raise that much cash, there will be a repeat fear that another PP is around corner.
Therefore the price will stagnate at this 0.23-0.25 range for the next few months.
What I cannot make sense about is the 2nd level bid ask today. There are very large chunks parked at 0.24 and 0.255. Why park? If you need the cash you strategically sell in small amounts to get it out without signalling to the market that you are getting out. Parking a big ask doesn't really sell it for you, just stalls the price. I really wish I knew the thinking behind those big asks. I thought it was people getting cash to buy in to the PP but now I don't know what it would be. Serious ideas anyone?