Monday, October 02, 2017 1:46:12 AM
As Medivir advances Remetinostat and Birinapant there is upwards of $238m payable for achieving development, regulatory, and commercialization milestones as well as tiered royalties of 10%. Medivir has actively moved the candidates into new trials and with new data submitted with the FDA, the question therefor is (with such a large sum of money at stake), who is ensuring stockholders rights are throughly enforced with respect to Medivir's original acquisition?
Tetralogic has essentially closed and legally gone dark with the SEC. The shares trade as a vehicle to Medivirs development, so isn't it about time Medivir updates existing shareholders? Best I can tell Tetralogic's former general council is now in Hawaii, so who is looking after shareholders rights? Possibly time to seek outside guidance and request Medivir to provide status updates. In my opinion, the lack of possible full disclosure and transparency only benefits Medivir and the senior debt holders and convertible preferreds.
After all Medivir stated at the closed of the Tetralogic acquisition: "Remetinostat is now under study in a late Phase II program designed to treat early-stage cutaneous T-cell lymphoma (CTCL)—a potential market that Medivir said has been estimated at approximately $900 million a year." That's a substantial market. IMO, TLOG should never have traded this low and the depressed price per share is partially due to lack of information.
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