As I stated, I had about a 45 minute conversation and basically discussed much of that which I have been posting on this board. I don't want to provide any specific names, but this individual did give me some good ideas and points to consider.
1. He said that it would be valuable to make a case that the platform is viable. This is the biggest questions mark from the investor’s viewpoint. They don't fully understand this technology.
Catch 22, Atryn is the Proof of Concept.
2. He asked, if the platform is viable, then why has no other suitors stepped up to buy the technology? Where is Genzyme? They have members on the BOD.
I had no good answer to this question, other than I believe it is / was a failure of the management not the technology.
3. He said that I should then try to contact other Biopharma companies who would understand this technology and tell them about the great opportunity to buy this technology for $15 million. See if this gets any traction and if does, then tell the other shareholders that this opportunity exists and should be looked at.
I said that is a good idea maybe I will try.
4. From this institutional investor’s viewpoint, at this point they consider the GTCB investment as a loss. If they recover anything, then they will be happy.
But, what this tells me is that they are indifferent to either a "Yes" or "No' vote. They will vote whatever way that they believe will bring them the highest recovery on investment.
I have voice mail message with several other portfolio managers and hope to be able to engage them in conversation on the topic to see where they stand.
I would encourage other shareholder to contact some of these portfolio managers. They are friendly people and willing to talk. I start the conversation by asking them what their views are on GTCB?
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