GTC Biotherapeutics (fka GTCB)

[oldberkeley]

"... a response from GTCB about why they haven't instituted any real measures to cut costs?"

Vin-

It's getting harder to keep track of who said what in this debacle, but I thought it was you who got this response from Tom Newberry about the cost-cutting question?

... we are a commercial production operation under
regulatory review. Cost cutting that would be meaningful would lead to
gutting the very infrastructure which is required for product approval
and support for the partnered programs that are bringing in revenue.
Your thoughts on symbolic reductions of senior management base salaries
has not been considered since it may lead to a loss of the talent and
capabilities that we are depending on to reach our strategic goals.

I believe that you had in mind management reductions way past the merely "symbolic", but truthfully, the "gutting the infrastructure" stuff does ring true.

Unfortunately, at this point in things, it's not the infrastructure that I'd like to gut!