greggs, No doubt HB is determined to go it alone. I do think that he also knows how much trouble the company is in cash wise. While he won't even hint at the issue, and he also seemingly continues operations as close to normal by hiring and spending as if cash is not a problem, there is no doubt that it is. HB's obvious spending amounts to just a week or two of operational spending, i.e. near meaningless. And it is my believe that those hires were mandated by the dosing trial. He had to hire them.
But HB still smarts when he recalls that he had to release 1/2 the company, find a tenant to help out with the new space, cut way back on trials, and in the most high profile adjustment, cut out all new drug development save mN. Despite the endless touting here by some, and at the AGM by TC, of Bellicum as such a great future asset for Ariad, HB sold it for peanuts barely 3 months after the AGM. HB knows that convertible probably signals the limit of Ariad to raise money with a sub $10 pps. These events all scream "Cash Problems".
HB gambled on trial data being good to get the convertible done. It worked...at a cost. Now it's up to Pona sales recovery and mN to puff us back up. No one knows how these will go, but judging by our pps now, it's not a slam dunk. If HB determines that not enough stars have aligned to raise cash, he will sell. HB's make mistakes rooted in his greed, but he's not totally stupid.
