GTC Biotherapeutics (fka GTCB)

[DewDiligence]

What is the alternative?

Instead of borrowing $15M from LFB in a toxic, warrant-laden deal, GTC could sell its share of the GTC-LFB joint venture to LFB for a lump sum. The joint venture consists of the FVIIa, AAT, FIX, and CD20 programs, all of which are in preclinical development (#msg-33482901).

With the proceeds from such a transaction, GTC could redirect its R&D focus to FoB’s and it would have the financial staying power to wait until prospective FoB partners are ready to act. GTC would retain its rights to milestones and royalties under the existing ATryn licenses.

p.s. I previously posted that GTC should hire an investment banker to sell the company, but I now concede that, absent a change in the executive suite, this has zero chance of happening.