John,
After some reflection, this is my take- purely conjectiure. Dr. Katz's decision to surrender the management of Lidak to Healthmed did not come as a reaction to the breakup of the BMS deal. Dr. Katz appears to be a measured individual and must have known the principals in Healthmed for some time to attempt to transfer management control. Trust lawyers don't turn these complicated documents around and file in 7 days. This deal was coming down the pike, and may not be a reaction to BMS's decision, as it might appear.
Rather,there is a possibility that Squib became aware of this new affiliation and, if this is the same organization as reported in the Time magazine article, may have become uncomfortable with their background, methods,and practices. Squib may not have wanted the complications and bowed out.
Bottom line- The drug works, Healthmed wants all the action for a small entry fee. No one has explained what Healthmed wants, besides control, for lending Lidak some money. Dr. Katz has annointed Healthmed. WHY? We need to know what the terms are?. I fear the toll that Healthmed would exact in management fees would be fiercesome! The Board and shareholders need more answers. There are too many unanswered questions. |
