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Senior management are NOT to blame for recent biotech meltdownONLY -failure to capitalise in anyway whatsoever on the biggest biotech boom market in 20 years. -the failure to take anything into the clinic in spite of their vast and wholly undeserved pay and options packages. -talking up of a whole host of therapies amongst desperate patient groups in town hall meetings year after year without any achievements (this one is the real shame and makes their actions all the more shameless) -the backing of several 'wow' projects to show off the technology they have been squatting on, to the detriment of more deserving programmes. -rewarding themselves with 'biotech' CEO salaries and options schemes when their performance suggests they were nothing of the sort. IMO CEO looks like a chancer with a passable ability for marketing/bluster who stumbled upon some first class IP? -stuffing of the board full of yes men, and seriously low calibre board members (even lower than the CEO) eg self styled 'biotech consultants' for a potentially curative suite of products???? Is that really the best we can get? -freezing the company out of capital markets by selling a secondary to institutonal investors with LONG memories 4x above current levels whilst continuing to sell insider shares. - failure to step up to the plate and buy A SINGLE share in the company while management all the while express such profound confidence in the technology to patient groups and investors. -failure to keep to any time frames regarding regulatory filings and clinical activity -failure to write any decent partnerships during the largest biotech boom and deal making frenzy in history. -failure to partner BPs like Shire in an effective way. -failure to keep hold of the real brains behind the company. - oh yes and presumably, junking of yet another headline programme (thats what we should expect in the next few weeks IMO inspite of ELs glib response on the outlook for 728 at the ASM). That for me was the moment I saw the man running the business with some candour. (And I was a Long :) . Money matters less to me though than the squandering of the technology- that is the terrible failure IMO. All in MHO of course but when written up it looks like an old fashioned tale of grossly puffed up ego, completely mismatched with ability...(with some unpleasant greed and not especially honourable behaviour thrown in for good measure). Question is after the car crash, can we PLEASE have a proper, adult driver to get us back on course. Where this one settles, no one knows but "management" have made the crash a whole lot worse than it needed to be. |
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Msg # | Subject | Author | Recs | Date Posted |
76789 | Re: Senior management are NOT to blame for recent biotech meltdown | Deadeyegame | 0 | 10/8/2015 1:41:18 PM |
76792 | Re: Senior management are NOT to blame for recent biotech meltdown | windmutt | 0 | 10/8/2015 2:11:27 PM |