There are two perspectives. One being the tragedy of the demise of an innovative R&D company. The other the extraction of any remaining commercial value for the benefit for shareholders.
I did vote for the move to the US. The rationale being that an American company would have greater chance of success with the US government. I had given up hope of the realisation any further value of early stage pipeline developments and simply wanted the value of LANI exposed.
Well it has all been a failure. The merger and subsequent raisings were a failure. The lack of interest of management in buying shares a failure. And, to my way of thinking, selling a garbage product for a lot of money was not a great recommendation for a new CEO.
So, whilst closing down the R&D is very sad, the priority must be to try to extract remaining value.
The last thing we shareholders want now is a purchase of an early stage product. Whatever money is left must be reserved for running the phase II and selling out to the highest bidder.
BTA Price at posting:
0.0¢ Sentiment: None Disclosure: Held
