Here is the explaination on the $7.4M impairment charge in Q3. This does not sound like MP-470. Looks to me like one of the partners ceased one of the development programs. Wonder who?
During the quarter ended September 30, 2012, one of our collaboration partners ceased development of three research and development projects, which resulted in the recording of an impairment charge of $7.4 million.
Here is what I got back from Tim today.
The partnership collaboration are Multi-targeted. Each potential product has a valuation, but the targets are confidential and can not be detailed.
MP470 has activity, but did not produce enough clinical benefit for us to take it forward. It is current being marketed to other companies.
SGI-110 has an oral presentation at ASH. Data will be disclosed at the time of the presentation.
Sentiment: Strong Buy
Thanks. What does the first one mean? Are you asking about the impairment charge on the partnership collaboration question or did you ask a different question? Interesting note on SGI-110. They put a teaser out there with the abstract but hold the "good stuff" till ASH. Better be some good data.
Once again. The company with the current management has NEVER EVER brought a product to market. This is a development company which has never developed a product under the current leadership in over a decade.
As far as the power point slides and the “pretty graphs” are concerned; they are just that “pretty graphs” and power point slides. We have no clue how accurately they reflect the progress of the compounds, if at all. Should we get an approval on anything at all in the pipeline all the other issues will go away, this is something which has us longs worried about.
Unless and until we get an approved compound NADA.
All else are nonsense side issues.
Could be. Why not spell it out in the 10-Q? When did that deal end? Late Q1 or Q2? Would have thought they book it in that quarter. You can't shut that thing down and not have a pretty good idea what the impairment charge would be. Hope to hell it is that.
Good luck asking. I have asked twice already. Maybe we get a clue this Wed at the presentation. I am getting beyond frustrated with this stock. Love how they bury this crap in a 10-Q hoping people do not notice. Where is the PR on this? I would say that $7.4M is a material amount.
Please not comments from the peanut gallery unless you have something of substance to add. We know the story of high bonuses, Man@#$# is an idiot blah blah blah....