Oncolytics Biotech Inc T.ONC

The number of Board Members

[inthno]

I am hoping that this will help to clear up some confusion.
I emailed Jon last year when onc exceeded the number of directors (6 at the time) and added Rigby and asked how this was possible.
I was told that there was a provision in their bylaws, agenda or whatever you would like to call to allow for the additional board members with out the consultation of shareholders.
That is why it is fixed at 7 this year as that is the number of members that we have AT THIS MOMENT IN TIME as they at this time have no intention of adding more but if needed could add up to an additonal 4 board members.
I have seen this in the past with other companies where they have either a partnership or equity investment which allows a person from the other company to have a seat on the board to help with accountability and oversight.
It is obvious or hopefully so that the additon of Rigby was necessary in the operations of ONC as all on this board are in general agreement that he was added to facilitate either a partnership or BO of the company or so we are hoping.

[westcoast1000]

Thanks inthno. Makes sense. 

[westcoast1000]

We retail shareholder "mushrooms" (in the dark) can only hope that these two "strategic" moves of providing a larger pool (three more percent) of treasury shares for insiders, along with increasing the potential number of board members, both point to the  immiment major investment or buyout we all have been hoping for. What did Matt say? Expect one or two ph 3 to start in

[YegJeeber]

I'm thinking the initial share price boost will come with the announcement that one or two phase 3 trials have been approved - the primary operational goal of biotechs. If that can get the price to $10 a share or better, then the business development side of a significant buyout will be much easier to promote. In my opinion, the ball is not I. ONCY's court nor is it in big pharma's

[westcoast1000]

Good points, Yeg.

[Hand2Hand]

No the ball is in BP's court. Without BP.s approval to use their Check Point there will be no Phase 3. And it can only be Merck or Roche. If another pharma wants to use their check point then the whole testing has to start from scratch. And yes Pfizer is definitely out since they back all the rights of Bavencio back to Merck.

[Noteable]

inthno wrote - "I have seen this in the past with other companies where they have either a partnership or equity investment which allows a person from the other company to have a seat on the board to help with accountability and oversight." While this is common - usually there is some insight before something of this sort of thing happens. Perhaps we will learn soon enough if others are

[Noteable]

One of issues that ONCY has is that fails to communicate properly to its shareholders, and instead has been selective to whom it communicates with, at the exclusion of all others.