So here we go.... I'm gonna lay out the logic chain and there will be some speculative gaps to fill. Let's start with facts. 1. Tang is based out of San Diego. 2. ODT and ONCT are based out of San Diego. 3. Jim from ONCT does A LOT of San Diego elbow rubbing. He is very proud and clued into the small biotech business scene there, so it's very plausible he has had interactions with Tang. 4. Tang owns a massive chunk of ODT he is stuck with. He couldn't sell with news as he woulda gotten slapped with a lawsuit from the SEC, so now he has the majority share, or close to it, of the company and needs to salvage the asset. 5. Tang is a loose cannon and would do some outlandish things as an activist investor, we've seen his history. 6. Tesetaxel, being in the Taxane family, fits right into the ROR1 expression wheelhouse. They would be extremely complimentary. 7. Tang needs to either lower SAE's OR raise response AND efficacy to probably get the FDA over the hump of approving a P3 / possible combo trial, for Tesetaxel to save the asset. 8. Tang, being a major bio player in San Diego, surely has ties to UCSD as well, and values the relationship that ONCT has with them. 9. Money - ODT has a bunch of loss carryforward that would be really good for a big pharma player. ONCT has much loss carryforward as well. Many investors don't realize that tax writeoffs from years of losses can be used in big pharma to save millions on tax bills. A major reason for buyouts. 10. ODT has about 130M in cash and ONCT has about 110M in cash. Put them together, and I bet you can fund a pivotal P3 for both in combo, with the FDA blessing. 11. We know that ONCT has not one , but TWO in house attorney's now. That's redundant without a doubt. So, Chase was 100% hired with an agenda. He DOES have previous ties to Tang, he also has strategic transaction experience as well as M&A background. 12. Options grants, no CMO hiring, soo many ONCT oddities. 13. Both companies got insane volume Logic Chain with speculation. I think Tang made a move with his broker on April 7th to accumulate enough shares to have a controlling stake in ODT, without question, like over 60%.. Per SEC regulations, an insider has only 10 days to file an ownership filing with the SEC. He is an insider at ODT without a doubt, and what do you know.. 10 days from the 7th puts him right past OPEX and lands him a filing in AH on the 16th. So he can still be cloak and dagger. My thought is, he made his moves with his broker, and by my math, he acquired around 8 to 10M shares of ONCT over the last few days as volume has been crazy high but had massive volume loads to the upside with use of short shares driving it down for more accumulation. It's NOT enough shares to get him control, but it's certainly enough shares to scare the shit outta management at about 20% if this is what's going on. Now, he goes to AACR and approaches ONCT with his plan. I don't think the getting more shares by the company in the bylaws has anything to do with this, that is all coincidence because ONCT needed them regardless, they are pretty much maxed out and can't grow without them. Plus, the filing came long ago to up the shares and vote on them. So I think that point is out. Tang approaches Jim at AACR and says, I wanna forward tesetaxel and low and behold.. who else is there with Jim? Dr. Shatsky. She is very much an advocate of Tesetaxel, has been vocal about it’s benefits for a while, and maybe her, Tang, and Jim sit down and discuss rough trial possibilitiies for a P3 and a way to approach the FDA to pitch it to them. This again, all speculation but VERY possible. Monday, today, to help the costs for ONCT and keep them down, Tang says, I'll pay my guy a salary or bonus, but you give him stock options... get Chase in there and put him to work drawing a deal up for me to make a tender on the rest of your shares this week.... he can work on it with your counsel. He knows how I do things. Hook him up with options and make it sound like you are bringing him in for help. Hell , maybe he's just doing it for the options. They can’t put him into ODT after the drug flopped, there is no smoke screen there, but they could absolutely “hide” him into ONCT and hook him up with less notice and a smoother transition. Why would ODT hire Chase on if they are closing shop. If this is true, they have a number in mind.... the attack this week.. I don't think was coordinated with the article, that's bullshit. BUT , I think the short attack every single day since is Tang buying up as much as he can on the cheap off weak hands before making a tender offer for the rest by EOW. if the BOD accepts the offer on Thursday ish... it comes out Friday, he exercisizes all his options and pulls all those shares away from call sellers on BOTH stocks. they lose for selling calls. He then controls about 25% of the stock... ALL HE NEEDS is enough retail to sell into the bid on his tender to get the rest of the 25% and boom.. he has control, he then takes them both private OR forces a merger between the both promising both companies jobs etc and he owns over 50% of the combined company... that has enough money to get his P3 done. he could also look to sell TK216, which might be why the silence, so fund CIRM and Tesetaxel combo, but he wouldn't do that til after he pulls all his weight around and takes control. And....the cherry on top....Tang literally tried to buy a ROR1 company and failed already...it’s quite possible he knew tesetaxel was going to be shelved, tried to be proactive and failed. He didn’t want to jump on ONCT too quickly before seeing the BC data, but maybe Jim showed him the data in the last month or so and decides to pull the trigger now before another company has a shot after AACR to get it before he could move…. Hence his aggression on April 7th in both stocks.
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