Friday, July 22, 2011 9:42:15 AM
The author of the article didn't make up the information he wrote about. He was fed the information and briefed on the opportunity. Make no mistake about it, the one drug compound that we have is going into this new company and we will end up with a minority share, not a majority share. I believe, as the article stated, that this is a done deal but will be finalized by the end of the year.
The PR didn't deny the formation of the new company. All they did was discuss the one drug compound they have and mention that the deal hasn't been finalized. The fact that the deal hasn't been finalized is probably true in a technical sense but in concept it is done. You'll see that I am most probably correct by the end of the year. One caveat... if shareholders voice their disapproval of giving away the compound, then they might be able to reformulate the deal before it is inked in a signed agreement.
I think that the reason they issued the press release is because the information from the Israeli press made it to unknowing shareholders like yourself. Your email was the catalyst that let them know that shareholders are aware of their plans.
Setting up the new company isn't the biggest news since the company already declared they are exiting the product development space. Because I am suspicious, I assume they knew they were setting up the new company before they announced they were exiting the space, but I don't have proof of that. Just a hunch. They had to issue the PR about our sole compound because it directly and significantly affects our valuation and is the type of information that would lead to a lawsuit if not announced.
The PR, in what it covers and in what it doesn't cover, tells you that there is a new company being set up. That is 100%. I also think it is currently 100% that our drug will have a new home.
I appreciate all of your other conjectures but we were really only discussing this point, not Teva, David Sidransky and his intelligence, Battery Partners, and everything else. I am long the stock, waiting for their story to be publicized, and waiting very, very patiently for the stock to reflect their value.
We're on the same team.
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