Replies to post #1708 on GTC Biotherapeutics (fka GTCB)

[y3maxx]

“… net cash utilization of $21-25 million for 2006…includes projected fourth quarter 2006 cash receipts from our ongoing product supply commitments for Merrimack Pharmaceuticals…”

Question is Dew, will Merrimack make full disclosure of their two ph 2 results?

Haven't they already had two or three public presentations the last month or so, searching for new investors?
They could have had a positive response from new investors had they made public those results.


(IDIX seems more compelling at the moment.
Assured revenue by 2010, ample cash on hand w/a bazzilion shorts on record.)

tia

[walterenergy]

External auditors review 10-Qs

I have worked at 3 public companies.

The external auditors go through this charade of saying that they do not audit the quarterly reports. While it is true that they are not as thorough as at year-end, but at each company, the auditors would carefully review all statements in the 10-Q, tick and flick report numbers, etc.

Regards,
Symboltech

[Spice is nice]

The first rule in biotech is don't get scammed.

One way to adhere to that rule is by discounting language such as "we expect", "we are preparing for", "next quarter", and last but not least, "we project", in company statements.

And not to pick on GTC because I have not picked up any obfuscation on their part, but they also projected substantially less burn this year, and, per your conversation with them, also projected they had no need for additional financing 2 months ago.

When I look at a filing, or statement in this case, I look at numbers, dates and other specifics. I leave the fluff to others.