Something not right here.Why would the largest shareholder, who...

Something not right here.
Why would the largest shareholder, who must have access to a lot more technical information than the ordinary shareholder, want complete control of the company if they weren't confident they could get it approved by the FDA?

If they are confident in getting approval and continue to achieve that this could open a Pandor's Box.

Were they involved in the application to the FDA?
If so that application needs a close look at as to why exactly it failed.
Were they also involved in the decision to not continue with the next stage of trials/application for the FDA?

This needs further investigation.
Better not be any missing paperwork.