<<The final consideration is what if G does sign a deal before the shareholder meeting? What is the rationale for Venbio at that point? Their interest in IMMU is totally about 132, and if 132 is now controlled by a big pharma, what does it matter who is on the board?>>
They didn't initially buy into IMMU to take it over, they liked 132 and felt the stock would respond to more data and its progress towards a deal. Then they got caught in the fIASCO and then the financing. Like me, they had had multiple communications with the company leading up to those events and if anyone here was blindsided by them, anyone with access to management was even more blindsided.
Their rationale isn't likely to change, it's to make money with the investment. Little doubt to me they feel they can make more with a business minded BOD, but they likely also feel they can make money if 132 continues to generate good data and marches towards AA.
Let's not forget, the phase lll was supposed to start last July (meaning the contract manufacturing would have been up and running with the FDA's blessings), then it was in the fall, then in December, then after the first of the year. I'll be surprised if it happens in the first quarter. To get the best return out of this stock, the street needs to believe the company can deliver. It does not believe that now and even if 132 finally gets off and running and AA looks likely, the stock won't go anywhere near what it would if the street believed in management. Without a change of the BOD, there will continue to be a steep discount in the PPS.
THAT is why it matters who is on the board, to them and to ME. |
