GTC Biotherapeutics (fka GTCB)

[vinmantoo]

Oldberkeley,

I will try and post when I can. My comment about financial companies refusing to lower executive salaries because they feared losing the best employees was meant to reflect Tom's answer and GTCB's position. It is essentially why GTCB won't consider reducing executive salaries, even symbolic ones. I am not sure if I am allowed to post verbatim what I was told, but I will contact Tom again to ask him as well as to follow up. Tom also feels GTCB has covered the issue of cost cutting in previous conference calls. I don't recall it being mentioned as being a priority or as having some urgency, but maybe I am wrong. My feeling from his message is that GTCB doesn't think they can or doesn't feel the need to cut costs because it would be at the expense of future long term goals. I am kind of stunned and disappointed that GTCB hasn't realized that this is financial crisis means every dollar saved translates into less dilution at time when new cash extracts a very high price, and also gives GTCB more time before another dilution to raise cash. I didn't get any feel for a sense of urgeny to prioritize efforts. I understand not cutting rATIII since that is our most advanced product, and that is why I have been pissed about how little has happened in Europe with rATIII regarding sales and the slow movement of the DIC trials. But how can stopping some, most or even all projects until rATIII is approved not be on the agenda?

As far as rATIII sales in Europe, I am unaware of any real information being given to GTCB shareholders. Tom says they have stated rATIII sales in Europe have been small. Unless I am mistaken, there hasn't been much else regarding this topic. I would like some reasons why slaes remain so low, what GTCB is planning to do to increase sales, what sales are in each country right now, how many countries there are where can rATIII be sold and timetables for when they expect most or all countries to have rATIII available for sales. l will ask these questions in my next email to Tom.