GTC Biotherapeutics (fka GTCB)

[croumagnon]

I did attend part of the ASM today...

My thoughts have not changed much regarding GTCB except that I now feel investors have to have a long view of things going forward in order to do very well...

Here are my thoughts and recollections:

(1) Cox is impressive in person, which I expected, and is a good communicator.
(2) Newburry is a nice guy.
(3) there were about 35 people in attendance, mostly investors.
(4) The atmosphere was cordial and pleasant. I looked to see if DewDiligence was there but was unable to discern him since I have not met him in person before. I suspected he would ask a question but he did not so I assume he was not there.
(5) As expected, the RS authorization passed.
(6) Everyone felt that the stock is too beaten down for no real reason. GTCB is executing on all fronts except when it comes to finances and stock price.
(7) FOBs are the next big partnerships to look for and there is a possibility of some happening in 2008 but Cox would not promise anything in that regard. However, in responce to a question, Cox indicated negotiations with the likes of TEVA and Watson, namely generic companies. I was quite surprised that he actually named names but he did! Perhaps he did not mean those specific names but rather those kind of names...
(8) The last question made Cox stumble a bit, mainly how come other players have not recognized our potential and taken us over at this point, such as GENZ. He did not think that GENZ was planning such a move but could not adequately give an argument as to why our value has not been recognized through M&A. The only thing he was certain of is that it would be best for investors if GTCB stayed independent as the shareholder value in time would be much more valuable that way..

Final impression:
If you plan on flipping your shares soon, then you might as well get out now because the Russel rebalancing will be putting pressure on the stock for the next 3 days and then the RS split may add more pressure in July. On the other hand, if you plan to stay in through the US ATryn approval in early 2009, I think your investment will pay off handsomely in a few short months... Personally, I am staying in...