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Lpath Inc. Message Board

  • hugeman99 hugeman99 Jan 9, 2013 3:42 AM Flag

    Pancoast got his arss reamed on Conf Call, IT WAS DESERVED!

    Last year CEO Pancoast blew smoke up everybody's sphinctor about how the company had plenty of cash to get through 2013, then BAMM, we get hit with a secondary offering at a 20% discount.

    It was great to see one of the conf call participants call him out about this OUTRIGHT LIE!

    It was fun to see Pancoast squirm for a few minutes before he was able to babble out a b.s. answer.

    Now Pancoast AGAIN saying they have cash to get to 2015. Yeah, right!

    I want to believe the hype here, but CEO makes me nervous.

    Sentiment: Hold

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    • i agree that was the first time i ever heard a caller hit a ceo with a tuff question and put him on the spot. most callers are hand picked

      • 1 Reply to charles_lacy2003
      • Scott tried to hedge this question but he did say that unless they have a new drug they will have enough money until end of 2014. I don't know if I buy that it,but the caller really pinned him and did not let go until he answered. At first he tried to bobble and weave but it did not work because the caller had him on the hook. I know that I mentioned this in a prior post,but Scott does not impress me as the biggest go getter, I hope I am wrong got a lot of money riding on the company and science.

    • I think Jim Kennedy seemed satisfied with the answer at the end.
      They had enough money for nexxus, but would be dead on empty if Pfizer didn't opt in, but they didn't have enough money to finish Lpathomab pre-clinical work, and get it to phase 1.
      Now they are loaded enough that even if Pfizer doesn't opt in, and even if they don't get a lot of DOD or NIH help, Lpathomab can get to phase 1.
      They are playing it ultra safe. If things go as planned they should be able to get to 2015 (unless they start a new drug program). If Pfizer doesn't opt in they will raise money in 2014 no doubt, they won't wait for the last minute.

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