OKY, just posted this at Yahoo and will repeat it here.
As I have indicated on iHUB, I am not happy (either) with the way the CFO has taken money out of the market during the last 3-4 years. First of all, because he should have done that when the stock still did $20+ in 2001. However we all know, that 98% of the biotech companies missed that opportunity. Secondly, I am not happy because while some companies have been able to prop up the share price first and then take money out of the market (take Genzyme spin- off Dyax as an example), GTCB has allowed the stock to be shorted and piped down to where it is today.
However, the deals GTCB has made with LEO on Atryn (HD and DIC applications) and now with LBF on rhFactor VIIa are strategically excellent (IMO). Through these deals they have been able to make themselves financially sustainable for the next years, create a future revenue stream from Atryn indications (and rhFactor VII a few years later) in Europe, while having an excellent negotiating position for partner agreements for these same products and applications (HD,DIC, Hemophilia) in the US market, which is totally theirs.
What has worked against the company has been the tremendous delay in the approval process of Atryn by the EMEA. This 2 year process has taken out the momentum of the stock. However, the fact that they have convinced a major producer of bloodplasma products to go recombinant with their technology, means they have accomplished a revolution in that industry. The great advantage of milk from transgenic animals is that it is not only relatively low-cost to produce, but also does not have the supply constraints, bloodplasma derived products have. So GTCB can significantly expand markets that so far couldn't grow due to supply problems.
In short, I am very positive about the future from here on.
As to the question regarding management. It would be nice, if GTCB would look for the incorporation of an experienced marketing heavyweight in their management team right now, because they will most probably have to conclude a number of important parnership deals in the near future.
AI
