Replies to post #9116 on GTC Biotherapeutics (fka GTCB)

[jessellivermore]

Hi Keitern.....................

This is an excellent post. Your point about not letting the market digest good news before ramming another stock offering down everyones throat is right on. This goes back to the EMEA reversal when they came with the Harris deal practically on the back of the announcement. There was every reason to believe the PPS would have climbed above two if they had not of torpedoed it. This has become the personna of the company and its managers,,,, every single speck of good news is saddled with a dilution....no wonder people stay away from the stock.

If T. Newberry is a representive of management then they clearly feel contempt for the shareholders. Mr N. was unambiguous in his opinion of this chatboard (shareholders) He told me neither he nor management care two hoots what we think. He stated they (management) were in "biotech" and had the thick skins needed to deal with our senseless criticisms which he labeled the unavoidable result of the decline of the stock price. Of course their management could not possibly be responsible for the decline. In the meantime they are awarding themselves our money. Apparently not understanding the idea of running a business is to make money. They will argue salaries are a trivial portion of the burn (over ten percent). This lawyer is salaried at over 250,000/year. It is a smarmy reversal of the old Robin Hood legend that he takes from the shareholders, most who make less than he does.

[nivasvs]

If GTC's survival depends on equity financing, then the team has an explicit obligation to defend the stock price with vigor

We, shareholders are naive to believe that this incompetent management will protect shareholders value. If you want to see what a management should do is to look at the events at what Amyln Board members did when AMLN was going through similar situation.

With just six weeks of cash left and the stock trading at 31 cents a share, down from more than $15 a year earlier, board members got together and pledged millions of their own cash to save the company. Ultimately Amylin scraped together $33.5 million in private investments, enough to press on with pramlintide and a second diabetes drug it was developing. Still, to stay afloat, the biotech had to lay off more than 260 employees, leaving just 37. "We were letting people go who weren't just colleagues, but friends," Bradbury says. "It was by far the hardest thing I've ever been involved in."

http://www.businessweek.com/magazine/content/08_11/b4075040441642_page_2.htm