Agree on the binary thinking, not enough experience and too much self interest at play within RAC right now.
Re: T leaving due to strategy, i think the truth is somewhere in the middle.
DCB starts, Tillet gives his australian scientist view that AML is a difficult competitive space & FTO is the big winner here, a new way of targeted therapy with the potential to disrupt cancer treatment as we know it today. BP will be tripping over themselves to buy us! This is why we are holding our cards close and not speaking to BP, we don't want to be taken over for peanuts. Ive been pushing for RC220 years ago and the board has just been wanting a quick flip since i joined. Did you hear JC sold $1m worth after we tapped shareholders?
DCB heads to the USA, meets with JC, speaking with BP along the way. JC = i've given Phil and Daniel a couple of years to get things going their way, and look, still nothing, a failed EMD trial that i was told would validate FTO. i'm getting on and sick of waiting, let's get this thing sold as daddy wants a boat.
DCB arrives back in sydney for a full day meeting. We have have multiple interested parties, 2 northstars, lets pursue a transaction and get this drug to patients in the quickest path possible. Mary = Also, Daniel, stay off twitter. We need better compliance. Tillet = Like *** your partnering this early and giving up all my upside, im the largest shareholder. if your going this early and taking JC's side i will vote with my shares when im off the board.
DCB = BP dont want pipedreams and complexity, you might want to be the one to bring FTO to market, they want a ready to sell or close to revenue drug, that they can finish off and give to the massive sales and marketing teams to scale. Lets build the strategy FOR BP as they are the ones buying it. (Know your buyer)
Strategy release. Tillet shares his 27 pages with MOF and a couple of other large shareholders, "Guys, were about to get diluted to Heaven here" Threaten to pull your share's if they don't clear out the old guard, 20-30% of the register walking should get something done. MOF & co recommend JC goes along with Damian as the scape goat for the SP, peacefully without complaint otherwise things get messy. Also Mary, bring T back on board in some capacity to better protect our investment. (Cause that's what we do with heaps of other companies, build a stake, influence management, and place people in it)
Mary = Welcome back Daniel (Stay off twitter and HC)
All IMO
RAC Price at posting:
87.5¢ Sentiment: Hold Disclosure: Held
(20min delay)