RE: TTHlooks like some of you guys are starting to finally clue in a little.
onc may never make it to where most people here would like it to, not because of reolysin, but because of management.
in essence, today's announcement translates to onc doing a financing by issuing the 1.9M shares (that they transfered to two of tth's major shareholders) for $2.5M or about $1.30/share.
compared to onc's opening price of $3.30, how anyone can be surprised that this stock took a major hit on this news is beyond me - it reflects a lack of confidence in management's ability to work in shareholder's best interests - plain & simple.
and to top it all off, at the time of acquiring tth and even moreso now, tth needed cash, yet they never got it from onc - if that deal didn't raise yellow flags at the time, i don't know what will. - heck, thompson even said it was simply a preliminary purchase of tth shares, and that onc would be buying more later. if that wasn't complete BS, i don't know what is.
fast forward to today, and it was obvious to anyone who bothered to take off the rose-colored glasses for even half an hour that onc needed cash - i forget which idiot said they had 19 months cash left - maybe the same one who is expecting 50% royalties (or 40% after deducting the 20% for thompson & co.) but its obvious that they simply chose what they thought was the lesser of two bad choices - sell their bad investment, or dilute onc yet again.
frankly, i dont' trust Thompson - he looks like a nice guy and sounds genuine when he talks, and he has initials behind his name, but i've seen enough instances like when he joked about giving warnings on forward looking statements, or issuing statements to reporters that "there is nothing material going on at the company", that tells me this guy is either in way over his head or he is putting his own agenda for his own benefit ahead of regular shareholders. as the Chairman of the board, i suppose he can get away with it.
for the sake of reolysin development and cancer patients, it may be best for all concerned that if and hopefully when reolysin is shown to be effective, a partner takes them out asap. otherwise, reolysin, cancer patients and this stock may languish much longer because the people running the company are imo risking the validity of trial results by doing things on the cheap, and have put themselves in the position of still obscenely cashing in personally, whether the company or stock succeeds.