GTC Biotherapeutics (fka GTCB)

[croumagnon]

Excellent post and analysis MTB and I think you essentially covered all the basis and the reasons why some of us are still long GTCB...

"I think the advantages of GTCB's technology and pipeline will be seen by some BP with deep pockets as too damned easy a way to make lots of money in 4-5 years, not to simply snap it up before the French have closed their trap."

I suspect however that Cox is already in bed with LFB, and they probably have guaranteed his future with them. I think this is the only thing that makes sense in view of the latest horrible terms of the financing deal and his current behavior. Perhaps I am wrong but, left to Cox's choice, I am reasonably certain that GTCB will become a wholy owned subsidiary of LFB and managed by Cox...

On the other hand, I agree with you that GTCB is too attractive a candidate for takeover by Big Pharma at this stage, so maybe in spite of Cox such a takeover will occur very soon...