Now I am starting to get pretty pissed off about Cox and GTCB management. Obviously, the financial state is what troubling GTCB. They talked as if a a partnership would materialize at the end of 2007 or early January but nothing happened. I understand that negotiation can be tough, but they put themselves on the line by making the announcement and it didn't come through. GTCB did raise a small amout of money, but clearly that will be insufficient. They are now talking about a partnership in weeks, which really puts management credibility on the line, and if it fails, Cox should be fired.
I also don't understand GTCB didn't mention any cost cutting moves at the time they raised the small amuont of money from the recent placement. They need to cut cash burn, or raise revenues or really both. Even if they do get the partnership, they need to be thinking about cost cutting until more data comes in for acquired rATIII deficiencies, unless the partnership brings in enough cash to run GTCB for at a least another full year.
