Cato,
I'm not sure about Antares own rules or more importantly the Incorporation rules of the State of New Jersey. But typically, there has to be a shareholder vote and the best time for a shareholder vote is once a year when other issues need shareholder votes and approval. I say votes and approval because the Board of Directors has already 'unanimously recommended' for approval the 6 items. In this case, the BOD weighs in with their recommendation then the shareholder vote occurs. If they did not do this now, the next 'convenient' time would be one year from now OR if something came up between now and then, then there would need to be a special call for a shareholder vote.
Again and as I noted prior, I believe this is the company acting in a manner of prudence. When I think of what they are doing and what I think they will do and where they are headed, I'm reminded of the famous Chicago Architect Daniel Burnham who is quoted to say, "make no small plans". And I don't think CEO Wotton has plans for mediocrity. I see Otrexup (its particular injection platform) as the tip of the iceberg in the delivery of drugs and the delivery of methotrexate, then testosterone, then the Neurologic drug as Antares just getting warmed up and ramping up. After all they have identified between 40-60 drugs. Here's a wild thought when thinking of the quote, 'make no small plans', what if they decide to pursue a biologic for delivery with their existing platform? That will take $$$ to execute that business plan - alternatively, what if they go upfront 50/50 with TEVA on a biologic for 50/50 back end deal? Or and as previously noted, what if and in connection with the existing TEVA partnership, TEVA wants Antares to not only provide the injectors but to have them do the manufacturing in house - TEVA provides the drug in a prefilled syringe (just as in the new agreement with TEVA and sumatriptan)and Antares does the rest in house. Big bucks upfront with big bucks back end profit.
To me, they are making big plans and are preparing upfront for those big plans and that does not scare me, I applaud it.
"Atlas Snuggled" great id - of course I immediately thought of "Ayn Rands, Atlas Shrugged"
