This is not a whine post. I want to point out some facts and ask a question. My premise is that the biggest problem with PTX is a lack of leadership.
Looking at last year's proxy statement, there were four named executives: Cooper Collins, CEO; Tracy Clifford, former CFO; David Becker, sitting CFO; Charles Hrushka, VP of Sales & Marketing. Clifford was gone as of the date of the proxy. Becker and Hrushka resigned earlier this year. Why did these execs jump ship? Has Coop replaced his CFO or VP of Sales? I've seen no press releases to that effect. Who is running the sales force that is supposed to be marketing all of these products -- including Silenor, a drug that addresses a space that this sales force has never sold into.
Now, to the BOD: Again, from last year's proxy, five members: Of course, Coop is on the BOD. Of the other four, only one has any life sciences background at all -- a PE guy with Aisling capital.
A 33 -year-old CEO and the above. Is this the leadership that is going to build a successful pharma business?
Make no mistake, Cooper is out to make money for himself. He will pump the stock price and sell into it whenever he can. In the mean time, he will collect big salary and free options. Retail investors are nothing but stepping stones to him. Did I make it more clear?