Danforth just provides business management services to smaller life sciences companies. HR services, finance & accounting services, general business operation services, etc. Nothing inherently wrong with what they do and since MRKR was trying to keep their costs down and basically went to a bare bones staff and management team the move made enough sense although I am with you in that I would have liked to read the agreement even though I figured it would never be made public.
The part that seems off is why they would cancel it so soon. It hasn't even been a full 6 months. As of Nov 17th Lurier is no longer serving as CFO but the agreement is set to cancel in January. Why not now? It just seems like there was no real reason to use Danforth's services if the contract was going to be for such a limited period of time. I guess they weren't happy with those services but regardless it's not a great look to entering a contract only to cancel it so soon. Waste of money.
I'm also not sure how Vera is going to handle all of this. He is obviously very smart and I have plenty of faith in him to run the company and handle all the science related business but I feel that now adding all the financial related business to his plate might be stretching him a bit thin.
I guess time will tell.
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