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OncoGenex Pharmaceuticals, Inc. Message Board

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  • tnk.shorting tnk.shorting Feb 6, 2013 11:33 AM Flag

    I shorted OGXI late today on this news:

    It's not about sex. It's about money - a scarce resource at OGXI. Cormack can mess around as much as he wants - on his own dime ... A sweetheart deal for the CEO's sweetheart (so sweetie won't sue the company.)

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    • But there's probably not much money involved. The 8-K says Burris will be transferring her executive duties to others and performing a portion of her duties as a consultant. That suggests, as I posted earlier, that they won't be hiring a replacement CFO, at least until her "consultancy" is over a year from now. When the last CFO resigned in early 2010 they left the position vacant for almost a year. Given the current circumstances, it's even less likely they'll hire a new CFO. And it would appear that Burris wasn't spending that much time working anyhow.

2.23-0.03(-1.33%)11:01 AMEDT