GTC Biotherapeutics (fka GTCB)

[wjlknew]

>Newberry made the statement to me that they didn't want to let a potential partner feel that it was to their advantage to delay any deals. If a potential partner felt that the delay would drive GTCB's cash position into one of desperation, they'd delay as long as possible hoping to put themselves into a better negotiating position.<

If Newberry is being candid, which I doubt, they accomplished their purpose. I am sure a potential partner no longer FEELS it is to their advantage to delay any deal. Now a potential partner KNOWS it is to their advantage. If GTCB had easily pulled in a $30 million line of credit, that strategy might have worked. Instead GTCB could only raise a relatively small amount by giving away the farm ... again. Any potential partner worth having will just wait this one out.