Biotech Values

[DewDiligence]

Re: RHEO

They don’t even have the decency to hold a CC today. From the day that TLCV announced their intention to spin-off RHEO into a separate company, I had serious doubts that their AMD procedure would work.

Dry AMD is a very large unmet medical need. If TLCV had really thought they had something to address this need, why would they have sold off half their equity stake in RHEO for a song in the IPO?

TLCV certainly didn’t need the capital for development purposes. The spin-off and IPO made sense only when viewed as a vehicle for insiders to pump and dump.