time to buy biota for 6 month hold, page-20

I reckon this company has been trashed beyond repair.

Its cashbox value is doubtful as the directors and staff own most of the shares now and can easily block a hostile takeover. Giving themselves these options at the AGM will cement this easily. The buyback was a stroke of shear genius as it emptied out the coffers and bought precious time to prevent a hostile bid by temporarily bouying up the price.

Yes, the share price is below net tangible assets. However no shareholder will ever benefit from that. The money is being systematically looted. And NTA will fall. As will the share price.


Thus the logical course for the incumbents is to plunder whats left without reference to ordinary shareholders as they hold all the aces. Yeh, you can jump up and down at the AGM, but if you don't have the votes.....

Relenza is on a death spiral. Soon it will be out of patent anyway.

If governments don't believe the Relanza story why should they believe LANI, the the long acting version even if it does pass phase 3.

The rest of the pipeline is mostly low profit and orphan drugs with little commercial return but is exciting for the boffins like Prof Gust to occupy their time. Sure beats writing grant applications!

My only surprise is that Prof bought a few token shares for his super fund recently as a brave gesture. The other directors couldn't give a hoot. They value cash.