I disagree
I do not who you are refering to by "auditor" because we both know 10q' are not audited, but clinical data, specifically, is outside the realm of an accountant. Only if the program was reclassified as dead, as in meat, would GTC be required to adjust how they recognize its revenue. Also, both MM-093 results could have been awful without Merrimack making a decision on the program either way.
Let us express some concern here. Data was anticipated last summer but was not forthcoming. Around that time, GTC sold 12 million shares and had 8 million warrants shoved down their throat by agents who must have been somewhat skeptical.
Data was also anticipated before LFB. They also were not forthcoming and GTC wound up selling another 25 million shares in that deal.
I am not saying those two placements are relevant to the status of MM-093, only that everything which has occured since data was anticipated, including the slope of GTCB, suggests they may be.
GTC simply must resolve this issue asap because, as anyone listening to the CC QA session observed, some analysts are growing concerned, as well they should.
What say you, GTC? Get Merrimack on the phone and give your shareholders an update!
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