GTC Biotherapeutics (fka GTCB)

[DewDiligence]

>Pharming has negative cash balance<

What you meant to say is that Pharming’s financial liabilities exceed its financial assets. You seem to be missing the point that timing matters. Pharming’s unrestricted cash is available for spending now, while the debt does not have to be repaid until 31-Oct-2010.

As I noted in #msg-30659059, a GTC-Pharming merger would be tantamount to a bet-the-company gamble on developments during the next two years. That does not necessarily make it the wrong thing to do.