If anyone getting paid and doesn't get the job done then $1 is too much. If production is being done and goals are being met(revenue production), pay should fit results. ----head knows this as do ceos of other biotechs. Investors are mostly aware of the risks, so too are the mgt team. Mgt knows the biotech dance all too well. My criticism is aimed at preserving cash to avoid shutting the doors before something can be found. Do you think ----head will tell us ENMD is closing before the cash is drained? Big block on Friday market makers crossing stock at the end of the month. If you tried to do this ENMD would be a $1 or more. Nothing unusual.
I don't know about Entremed salaries, awards, bonuses. But scientists are by far paid less than investment banksters (which maybe you are), MDs and lawyers. I would guess $100,000 is a very welcome salary for a top PhD in the drug development world. I think they are a pretty selfless group on average considering they always work long hours under pressure and have to devote their whole concentration to this one field.
And you are getting huge odds on your investment in case this company comes up with a viable product.
So at $20 million current market cap and low annual expenditures on anything other than drug development, I can't see why you are complaining. You knew that you were taking a chance with a company that had no product. So are its employees! Forget about Burns, how much do you think anyone else there can make or spend with the annual outlays as presented in the Annual Reports? I doubt there are any company extravaganzas at some island location. Maybe a few exotic business trips to make presentations, but that's it.
Otherwise, I am also disappointed at losing money and wish they would come up with a partnership to stay afloat. I hate even posting here, because it reminds me how foolish an investment I made, win or lose.
Pessimist, pessimist..Lets see 100 mil+. Backed into royalty payments, discoveries zip zero nada. Has any member of enmd ever missed a paycheck? Award? Bonus? never ever. Reality is the stock is hovering a few cents above the alltime low with nothing concrete in its future. You need a dose of reality or you don't understand the biotech dance. Get real!!!
Again, the cost of buying a company is not the same as its Market Capitalization, which for Entremed is $20 million right now.
The company must have spent $100's of millions on drug development over the eons. This amounts to over $1 per share IMHO (not counting cash on hand and royalty income). Unless of course their drugs are worthless, which I don't subscribe to, but that's why I am still holding the stock. Actually, someday I might take a look at the Annual Reports and add up what they have spent, it would be interesting to see how much money has gone into the company.
Even a pessimist like you must admit that there is some chance of a clinical trial yielding a good result.
The only things these dingdongs have found is the co safe. They have done an a+ at raiding it without regard or anything to show for their tenure,except this endless bs about a partner. Big pharmas are loaded with cash and running out of patents yet not one of them has offered anything. Also why would they give money, why not just buy the co. Cost of co probably equal any partnering money(controlling interest). Face it, we are in for endless frustration...just like now!!
supermba sez: "... Burns is making over $600,000..."
Salary $414,000.00 Bonus $— Total Cash Compensation $414,000.00 Other Annual Compensation $— Total Annual Compensation $414,000.00 Long Term Incentive Plan $0.00 All Others $— Total Compensation: $414,000.00"