Oncternal Therapeutics Inc (ONCT)

[dinogreeves]

So I read, this could run very, very hard to the appropriate valuation, they just need to layoff direct or public offering. To reach only Velosbios 25% valuation, this stock will hit $35.00. Show us the data on the 11th, then a massive a run to the teens is very highly likely.

Sat down and re-read the 10k and basically VelosBios was founded by the same people as ONCT. ONCT creates an LLC called Velos Biopharm Holdings in Delaware and then licenses the ADC product to the holding company. Meanwhile, they have Dave Johnson "found" VelosBio becoming its CEO. Subsequently, the holding company (comprised of Breitmeyer, Garner, Hale, Cooper, LaRue, and Glenn) becomes the only shareholder of VelosBio. Conveniently, they now have their holding company sublicense the ADC to VelosBio corporation. This allows Breitmeyer and his buddies to have their fingers in both ONCT and Velosbio. Supposedly, when the holding company was formed, ONCT shareholders received an in-kind distribution at that time in 2017 -- not sure what it was, but probably very small given that they state that the chance of success was low. Don't know what the status of the holding company is anymore -- maybe they sold out to early investors or maybe they still hold shares in Velosbio?