To take a phrase from good ol' Bill Clinton, "it depends on how you define the word partnership."

Amarantus did get a partnership with ICON. But in classic GC fashion, our interpretation of partnership vastly differed from what GC meant. It could also be that Gerald actually thought we'd get that elusive BP pharma with upfront money until that BP balked and said, "you know what, we aren't interested any longer."

No one knows for sure why the PPS tanked today but I bet it might be due to the new timeline for when the ELTO trial will start. I understand things change but when you have a lot of different expectations put forth by the CEO that never seem to actually take place in the manner that the CEO originally made it seem, things like today happen. But maybe someone else has a better interpretation of what happened today.

I will reiterate that the prudent thing is that GC takes a new role with the company and that they company brings in a more mature and experience CEO who has actually cut his or her teeth in building a biotech.