RE:RE:RE:Consider this Adversity is the Mother of Invention.Thtx 'x surely did not invent much in this adverse environment...
The CEO should have realized when he joined that the reimbursement of the Convert would take a winning lottery ticket (purchase of Katana) from tand he therefore gambled the survival of the Company on winning the Lottery.He should have known ffom the start that contrary to a normal Lottery Ticket the purchase of Katana would also require millions and millions $ to reach Proof of Concept ....Of course the CEO had no knowledge in Oncology nor did his team except for very limited experience by the CMO
He should also have known that the fact that no oncology companies were willing to partner in the Sort1 platforn that the tens of millions spent in the development were too risky for a Company with a large Debt Repayment and no means to repay unless the Phase 1 triial proved to be successful.
He played Russian Roulette and long time shareholders lost a bundle!!
Nobody in the Company was held accountable during the past 3 years and unfortunately Shareholders decided to vote in favor of the BOD including the Chairwoman which obviously dont have what it takes.
I have been posting over and over again about the importance of bringing the Commercial Activities to a level sufficient to fund R$D....
We are now back to the future!!! THTX will survive and I feel confident that I will be able to recuperate my investment within a short time as long as sales keep growing at least mid single digit
A bonus would be a partner in Nash !
scarlet1967 wrote: "The main issue, as noted by so many on this board, are the continued missteps and poor communication and decision making of the management team. Cheap stock but with falling confidence in a management team with little regard for investors and poor capital markets expertise." well said.
THobsv wrote: The market cap is $50mm, the share count just isn't updated yet. The EV is ~70mm, still a depressed price relative just to sales, but 1) we have less confidence in those sales given recent actions, 2) we should have a lot less confidence in management given this panicked and highly dilutive offering at the lows and 3) the upside to equity with a more normal valuation will be lower, because equity is a much larger % of the EV. Still 100% equity upside to a 1.5x EV/Sales multiple, but it does feel like any more material gains require options (1902, Nash) to pay off, and we have no new information there. The company still may not be stable enough to warrant a much higher multiple of sales.
I'd take more confidence in the "smart institutional investors funding at $1" if this weren't a government entity that perhaps has some kind of ESG/Impact angle and isn't a specialist in this space. Less confidence in their valuation work and their governance/oversight.
The main issue, as noted by so many on this board, are the continued missteps and poor communication and decision making of the management team. Cheap stock but with falling confidence in a management team with little regard for investors and poor capital markets expertise.
If tax loss trading - a reminder to do so on days where there is real volume - today is one. Could do a portion from earlier purchase lots to have maximum impact while not impacting your position too much.