Replies to post #15254 on GTC Biotherapeutics (fka GTCB)

[DewDiligence]

What is the alternative?

Instead of borrowing $15M from LFB in a toxic, warrant-laden deal, GTC could sell its share of the GTC-LFB joint venture to LFB for a lump sum. The joint venture consists of the FVIIa, AAT, FIX, and CD20 programs, all of which are in preclinical development (#msg-33482901).

With the proceeds from such a transaction, GTC could redirect its R&D focus to FoB’s and it would have the financial staying power to wait until prospective FoB partners are ready to act. GTC would retain its rights to milestones and royalties under the existing ATryn licenses.

p.s. I previously posted that GTC should hire an investment banker to sell the company, but I now concede that, absent a change in the executive suite, this has zero chance of happening.

[gym gravity]

I am #43 on the survey and voting against with my "way-too-many-shares":

"Results for the Dec 10, 2008 Shareholder Vote (11/7/08) Survey

43 people took the Survey.

Question Answer Num Votes % Votes

How will you vote your shares?

AGAINST management’s proposals 23 53%
I haven’t decided yet 11 25%
In FAVOR of management’s proposals 8 18%"

[osofun]

I'am with you . Sorry JL ,it seems a yes vote is a vote of confidence which I just don't have.

[Lewis R Goudy]

I took the survey and indicated that I would vote against
all three proposals, but as it happened my exit settled
the day before the record date for the vote so I suppose
you should strike my entry from the tally.

[read_this_n0w]

its blatant regardless, i would let BoD know they are close to being liable for value destruction if they continue to support management choices as proposed

dont see them doing a proper job at all

and Newberry fussing away the MAXI deal is as i would expect from current management: total disregard for shareholders

[croumagnon]

"I’ve decided to vote against all three proposals"

Although I sold the bulk of my shares already prior to Novemeber 7, I am still holding about 50,000 shares and I also plan to vote against the proposals. The number of shares I still hold will not make much of a difference but I think Cox has taken us all for a ride and voting against is a matter of principle at this point. Moreover, I am not convinced that GTCB is better off with the deal than without it...