Huge news, yet so few comments...
Clearly the board and management of NTRP have a fiduciary responsibility to maximize shareholder value, and with a stock that has been trading below tangible (cash) book value. I presume that they've done it here and that this is a good deal for shareholders, but that is not clear, and thus fed up shareholders have been dumping their shares and getting out...
I've always loved the science, the potential, and the risk/reward investment aspect of NTRP, but I've hated the piss poor external communication, and the negative share price reaction today is yet another example...
Among the many possible scenarios that the board should have been reviewing, I've suspected a reasonable possibility of some form of reverse merger to flip the Nasdaq listed entity and some cash to a private company that wanted in... In theory, the value to NTRP shareholders should be more than the cash as the shell has some level of value.
Secondarily, the Bryostatin patents and licenses could be sold to a big pharma company, among other possibilities. This release suggests the company to continue as an ongoing publicly traded concern, but with much less cash. That doesn't make a lot of sense to me... My guess is that these assets will be sold as I can't see the point in trying to run another Alzheimer's trial or other indications with a chosen strategy of much less cash...
NTRP management and board owe the shareholders a clear rationalization for why this is a good deal!
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