So pgr, I’ll share a brief story.
Several years ago at an ASM an older women who had been a Vice President in the M&A group at Marsh McLennan stood up during the Q&A session to excoriated LP about letters she sent to the company offering advice on their financing that were ignore — I was like, “You go girl!!!” because I had the same exact experience with the company, albeit mail service from my park bench can be a bit slow. And maybe LP and LG ignores letters written on old shopping bags that I drank my Old Crow from.
The truth of the matter is the company could of went about its financing much more efficiently, even just by using an At-the-Market arrangement to handle some of its working capital needs. Not saying the company didn’t need to sell shares to fund itself, like any development stage biotech, but their efforts and the reasons behind their efforts were in my view egregious and self serving.
There are probably 10 or so examples of unnecessary dilutive behavior exhibited by this company. Not going to go down that road right now, and hope I never have to.
But we’ll see what the ASM and proxy have in store for shareholders.
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