GTC Biotherapeutics (fka GTCB)

[jessellivermore]

Re: The trauma of moving

Please understand the following is simply MHO.

First of all, want to tell johnbits I appreciate his use of an analogy. I always think people who use analogies are at least trying to use higher thinking processes rather than the all to common knee jerk reponses all to common on these sites.

I do think GTC is somewhat like a "goldmine" but there are important differences. GTC is a very unique and somewhat exotic outfit. A very high percentage of GTC's value lies in intangibles. At present transgenic technique is still in the era where there is at least as much art involved as science. Over the years GTC has accumulated "people" including scientists and technicians who have become adept at transgenic technique. These skills have no doubt been honed over years of trial and error. It is not clear how easy it would be to replace these individuals or where their loyalties might take them or what other companies might offer them in terms of employment in the case of a takeover or breakup. Any buyer would have to consider his position similar to someone purchasing an inter stellar space ship and not understanding the technology or having the personal to operate it. For example, as a plastic surgeon I have a professional cooporation
___________, MDPC. Someone might purchase my cooporation, but since the greatest item of value is me, and I am free do what I please, and I will of course quit and open my own practice, so no one in their right mind will purchase my PC.

I do not with all dew respect view GTC's lack of "panic" as indicative that the end is near. I do not think the management of GTC is dumber than Dew and thought they would be able to float a PIPE (they can remember back to Feb). Although a possible merger with NABI who has the cash they need is possible, I still think by far the most likely scenario is the partners pitching in to help them.

PS. I did play golf this weekend with major stock market player. He did confirm there is a lot of concern over whats coming today in the market.