I Was Wrong | PTLA Message Board Posts


Portola Pharmaceuticals, Inc.

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Msg  6941 of 6945  at  10/15/2020 3:30:27 PM  by

businessman168


 In response to msg 6938 by  MarkD
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Re: I Was Wrong

Hi Everyone,

Most of us were wrong about PTLA, but don't be so hard on yourself. This company had its moment of glory(trading in the 60's) but we were too greedy and fantasizing its two drugs will becoming blockbuster status; shame on us.

However, look at the CEO and its BOD and the management team. They should know better! They were once the Wall Street darling, and they raised significant resources to do industry studies especially on the cost factor in replacing existing standard, hiring the best talents, adding pipelines, but they didn't do none of that. I have said many times, the Chairman of the board, Hollings Renton is not a good businessman. He looked for "Yes Sir" people to fill the company positions. The 2 CEO he help appointed, Bill Lis and Scott Garland were really not the CEO materials (No partnership, no pipelines, no strategy and direction) except raising and burning capital. Actually, Bill Lis is better than Scott Garland; at least Bill raised capital in the 30;s and 50's. Scott Garland raised capital at $28 and sold the company at $18.

Yes, we learned our lesson from PTLA, but there are many more PTLA on Wall Street. Be aware!


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