This is all good and fine except that he himself s
Post# of 148187
"any day now" = imminent
"any day now" then again becomes "soon" or "very soon".
Give out the time-line: "We want to have a partnership closed by end of December", not "We signed a termsheet. They have six more weeks". Then: nothing happens: couple days later: "I thought it was clear that the expiration was a good thing, since OBVIOUSLY (sic!!!!!) that meant the DD period was succesful" - no, that was not what was implicated before...
GvHD beginning of September, then hopefully by end of September, then October, any day now, end of October. Still - nothing.
Was it April or June: we are done with dilutive financing, we have six opportunities for non-dilutive financing.
Nader is the one who mis-manages expectations and communicates erratically and who has done no risk-management along the way, e.g. by doing regional licensing agreements to negotiate bigger deals from a position of strength. Printing shares plus warrants is what all, even mediocre biotechs do until they can't. Good biotechs with a great product mix dilutive with non-dilutive financing along the way, e g. by getting anchor investors on board with a premium, selling tax-loss credits, outlicensing territories and so on. The BOD has no ties to the biotech world and they didn't even bother to get persons with such a backgroubd on board
But rather, we give Michael "The Share Printer who tanks the SP by begging retail investors for money via email and tank the SP 20%" Mulholland a comfy and well-paid Senior Vice whatever seat, since we have so much cash right now.
Excuse my rant... Well, Happy Thanksgiving tomorrow, everyone! There are better times to come, hopefully. Still very long, but depressed and shaking my head at some of their decisions and statements....