Great question . one scam to another perhaps ? I thought this had potential looking forward
yesterdays report was pretty weak .... I will go postal if this turns out to be another scam :)
I recommend all somx bagholders that lost cash to rise up and do the same ..
PTX went public a couple of years ago through a reverse-merger with a shell company (that used to be a golf course developer, I think). If you know anything about reverse-mergers, it is basically a method to get a publicly-listed stock without having to sell the company on its own merits to investors. The idea was to make some of the long-time owners and management team at PTX some bucks, along with the management team and shareholders of the shell company. From that perspective: mission accomplished.
Meanwhile, anyone who has since bought into PTX post-merger, good luck to ya. Collins is a savvy cat, but he is a total deal junky - not an operational bone in his body. Note the rapid succession of acquisitions of Great Southern, Cypress/Hawthorn and Somaxon. He needs deals to simulate momentum, because the company's product portfolio and operations won't produce that momentum. The sales force is a mess, with no leadership. The VP of Sales/Marketing just quit, so it is probably total chaos right now. The brand portfolio is made up of GI, pediatric, and now insomnia products. How do you keep a sales force of under 100 reps focused on that mixed bag of tricks?
My guess is that this stock saw its high-water mark a long time ago and probably won't come close to that again.