Post by
SPCEO1 on Jul 24, 2021 5:31pm
Additional thoughts on the ATM
If the meetings with US institutions went verry well last week (and I could see how that might be the case) those institutions might be pressing THTX to sell them shares. But if THTX was going to do that, why would they set up an ATM? Why not just do a regular offering under the current $150 million shelf offering that I am pretty sure is still in place? Since this is apparently not the case, it seems to me they intend to sit on this ATM option until a more optimal time to sell shares, just like they have sat on the shelf offering for nearly two years.
In the last conference call, the words "shareholder value" made an appearance. Those words have not been uttered a lot by THTX management over the years and I was heartened to see them make an appearance. Hopefully, we will see them back up those words with action and continue to process of rebuilding their credibility with investors. Everything will be easier for Paul and the board in the years to come if they are able to rebuild that credibility and everything will be harder if they blow it up once more.
There is a classic proverb in the Bible; "As a dog returns to its vomit, so a fool returns to its folly". Let's hope THTX management and board do not return to their previous folly.
I have asked Leah Gibson to priovide any context she can regarding the deal and will pass along anything she might offer in that regard.
Comment by
SPCEO1 on Jul 24, 2021 9:40pm
I asked those questions and she got back but didn't answer them. So I asked them again.
Comment by
palinc2000 on Jul 25, 2021 4:27pm
spceo You just posted this because our CEO flat out told us he would not sell until the share price was much higher, because the warrant was unnecessary When did he say that? I dont recall
Comment by
palinc2000 on Jul 25, 2021 9:26am
Just based on what is currently available in terms of info I would be elated if the weighted average issue price under the ATM reached 5 US $,,,,I just dont have any idea of what THTX red line stands ,,,,I suspect it is lower
Comment by
jeffm34 on Jul 25, 2021 12:18pm
If TH does find a partner for NASH they will still likely have to fund a portion of the phase 3 trial with the partner funding some as well. I'm guessing $50M would be sufficient to fund TH's portion of development.
Comment by
jeffm34 on Jul 25, 2021 12:44pm
the ATM may be an indication of what type of partnership deal they are looking for in NASH and possibly how far along they may be in discussions with potential partners.
Comment by
scarlet1967 on Jul 25, 2021 12:58pm
How about to try convince future investors to get involved in a company who raises funds based on insecurity or no clear reason at all?
Comment by
jeffm34 on Jul 25, 2021 4:24pm
if the ATM is to fund the NASH program, they came out with a specific number. $50M, which would mean they would have to know how much of the trial they are funding. They needed 2 critical elements to move NASH forward. Acceptance of a suitable trial design from the FDA and and EMA and a way to fund it.
Comment by
Scioto1 on Jul 25, 2021 4:54pm
I agree scarlet. Not 5 months after a financial move without sound communication to shareholders, and all the turmoil that created, we get this release, end of the week with with no meaningful communication.
Comment by
SPCEO1 on Jul 25, 2021 5:06pm
Now, we may want to consider that another shoe will drop realtively quickly that will help make sense of the late Friday PR with no explanation. Also, did anyone else recieve the PR in their e-mail? Unlike other PR's, I did not get an e-mail for this one. Do they only e-mail out certain PR's? If so, that is a policy that needs to change.
Comment by
palinc2000 on Jul 25, 2021 5:12pm
The PR is not even on the website
Comment by
jfm1330 on Jul 25, 2021 5:21pm
Always this communication cr*p over and over. I think one reason I would want really great news in oncology is that it will show how fast the news will spread without anything different made by the management.
Comment by
palinc2000 on Jul 25, 2021 5:10pm
Apart from them pulling a rabbit how do you feel about the timing of the announcement i,e, low price and low volume environment ,appearance of precipitous decision ,impossibility to get access to the Prospectus Supplememt which may or may not reveal any new info ,not even a broad outline of thre intended use of the proceeds etc
Comment by
SPCEO1 on Jul 25, 2021 5:40pm
It is not the best look. Hopefully, they will get it cleaned up. I do not have a contact at Cantor, unfortunately.
Comment by
palinc2000 on Jul 25, 2021 5:45pm
No offense spceo my question was meant to be directed to Wino,,,,,
Comment by
SPCEO1 on Jul 25, 2021 5:57pm
Oops - sorry! Wino will give you a better answer too.
Comment by
qwerty22 on Jul 25, 2021 12:20pm
Yeah, insatiable need. Maybe the lack of interest in NASH was a lesson, it has them looking to open every avenue to cash.
Comment by
qwerty22 on Jul 24, 2021 8:41pm
Can the ATM be something to do with the lack of liquidity in the stock. Is there not enough sellors? The obvious answer is to let the stock go up but can this be a tool to deal with short term illiquidity? I don't know the processes of the market, stab in the dark.