Exactly.
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I don't think anything is "going on".
PKTX just passed the 3rd qtr and there was no PR, just a quietly released Fall 2021 Newsletter that had nothing new or goals declared.
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Not a peep about progress on anything (cept Dr Shapiro).
At least Smith was savvy enuff to not post a 3rd qrt PR with old hat stuff.
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The 3rd qtr 10Q.
Nothing new and still broke.
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So it seems to me the Fall 2021 Newsletter could have said:
"We're broke and cannot move forward on any modalities on our own.
We're dead in the water until Dr Shapiro completes Phase 1 and the molecule is finally declared safe for hew-mons somewhere.
We then expect the molecule will get approval for Phase 2 and get underway.
The company will be poised for that wisp of smoke and hype it to create some interest from Big Pharma, hedge fund, a KP, etc - who can then either finance clinical studies in modalities or they'll buy it outright.
In the meantime, the CEO is feverishly trolling Linkd In and making cyber connections in an effort that at least one of the afore mentioned parties will catch a flash (like a shiny thing) of PKTX and become mesmerized and finance a modality."
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At this point I don't think Smith was (is) a bad guy.
I DO think he believed his own BS and his guile angle was better than the previous owners/mgt and bet everything on that angle.
I still think the molecule can be a miracle, but it MUST prove itself / do the HEAVY lifting. IE: Phase II in hewmon trials in some modality, peer reviewed publications, and existing revenue. At least 2 out of 3 of those otherwise, it isn't attractive.
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My 2cents, as always do your own DD.
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