GTC Biotherapeutics (fka GTCB)

[DewDiligence]

>Can't quite get my arms around the LFB conversion of preferred to common stock. Why would they do that and what just it mean and what does it auger?<

The most plausible reason, IMO, is to allow GTC to reissue preferred stock to a new collaborator. GTC couldn’t do this without LFB’s conversion because the preferred stock outstanding was nearly at the authorized limit of 15,000 shares (15M common-share equivalents).

If the above rationale is correct, it still doesn’t tell us what kind of deal is in the works. However, it does suggest that LFB is cooperating with GTC’s plans, whatever they may be.