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OncoGenex Pharmaceuticals, Inc. Message Board

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  • dr.kuvasz dr.kuvasz Feb 4, 2013 8:09 PM Flag

    CEO AND CFO RESIGN ON THE SAME DAY?

    Cormack isn't leaving.

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    • I'm sure you're right, Dr. K. It would be highly unusual for a CEO to resign over this unless sexual harassment was involved. Given that he and Burris have "a developing personal relationship" that doesn't seem to be the case. All kidding aside, Cormack's personal life is his own business, and any impact on OGXI is likely to blow over fairly soon.

      • 1 Reply to mr_ssssamsa
      • Optics suggest: (1) CEO couldn't keep his p-nis in his pants; (2) CEO gets shaken down; (3) shareholders pay for CEO's personal life choices. This is how they spend the money they raised from the last secondary (from which the stock price still hasn't recovered?)

        Long-term, this doesn't change the investment thesis. Short-term, on a low-volume stock like this, shortsellers will give the price a pounding, and innocent investors will likely be receiving margin calls.

        I'm not short (shorting TNK, long OGXI), but won't be adding on this dip (crash?) because the jury is still out about the CEO's judgment over this office romance and whether management can be trusted in the future not to waste corporate assets on their personal lives.

        Not looking forward to tomorrow's bloodbath.

        Sentiment: Hold

 
OGXI
0.975-0.0250(-2.50%)Apr 29 3:59 PMEDT