Why would this stock just sit here at this level?
First there is a total lack of trust in the current management and this company seens to have a "one trick" pony mental state.
Find a way to generate some additional cash.
If the current team can't run the company (we are talking years and years folks) then find a buyer or partner.
One word...Management. Yes I bash these guys every chance I get for good reason. They are not creating revenues! We have a great pipeline but apparently can not get any pharma interested. What's wrong...a lack of confidence in themselves. I think that they are comfortable sitting in the club car of this gravy train going to conference after conference. without results. To make matters worse they received bonuses last year. Dead money until some business development or a complete management change. JMO
i sold some at $2.70 and made some money. i worked 6 years for 3M Medical and I can say large companies have nothing over small companies.
What I am saying, it was common knowledge even by stock analysts, EROTC might fail. We start a trial in 2002 and learning during the trial the dosage is not optimal.
Pharmion learned somehow what optimal is!
What is Supergen's, Eiasi, MGI;s and JNJ's risk mitigation plan?
i believe Dacogne is the better drug. Look at the lives that could of been improved! Management is to blame and should be ashamed of themselves. We give mangement bonuses for what?
You can tell what good management can do for shareholders. Look at Pharmion!
Management is getting the big bucks to do what? Pass the buck
Ok I understand that you believe supg's management team should be responsible for this goof up regardless of the drug being passed to mgi which then gave it to J&J. But dacogen is heading into a higher level of people with more money and hopefully higher level of skilled worker to follow this through.
How can they be accountable?
As to date J&J have shown accountability by not dropping there original agreement w/mgi-supg. The situation was somewhat known until June 30 which came to realization. Given a month timeframe and issuing regards to dacogen dispositional findings is not an adequate timeframe. We should be lucky this is given to a larger company which can spend the time and money to properly access the situation going forward.
Mero, your fustration has been noted however you are lucky enough to had made solid profits from MGI and lucky that you haven't been buying at the $5 to 7's levels in supg.
Doesn't matter when or who started EROTC. What matters is if you run a company you plan and do risk management.
Where is the risk management???
Management is getting the big bucks to do what? Pass the buck!!!!!
<<Why would this stock just sit here at this level?>>
Could it be because there is no catalyst?
There is only one drug in clinical trials, and that is MP470 which is in Phase 1. There is nothing in Phase 2 or Phase 3.
Dacogen has just had a phase 3 result of "not statistically significant." This caused the stock to drop below $1.50. It is now up over 20% from that level. There is a lot of selling pressure from folks who bought above 2, so that number is very likely to be a ceiling for this stock until a catalyst occurs.
<<Find a way to generate some additional cash.>>
Well, batzem suggested that Tim Enns could lead a liquor store robbery. Outside of that option, you have to remember this is a biotech stock. The way to generate additional cash is to get a drug approved and into the pharmacy stores. Yet, to do that, we need to undergo years and years of clinical trials.
Get used to it. There is no instant gratification with this stock.
I think the point being made is there has been very poor management performance to get Supergen in this situation.
For some time everyone knew EROTC was flawed but did nothing.
After talking with Tim Enns, they do have a backup for EU approval. Why not mention it? Why not give an update? Why not update the market and investors that they know whwat they are doing and have a strategy?
Good leadership sets a vision but needs to communicate that vision. I do not see that with this board or management.