Very comforting how uniformed and basically unintelligent the bashers on this board are. A-7 CMV Herpes.Thers are many reasons to be bullish. Whats multiplies my enthusiasm is the Short cast of characters.I have no Advanced Degree we all know that from my grammar. Who cares. The reasoning the shorts use to "cast doubt" here are so disjointed and baseless its comforting. They have nothing. The resignation was standard protocol.Unless your caught in a 4.5mm share trap 60 days before the :"data" is "unlocked".Not a good spot to be in. One last thing to realize. Bio techs are THE MOST Capital intensive companies on the planet. Because of this fact they pay their employees 30-40% LESS is CASH and GIVE(yes GIVE) them alot of stock and options.Educate yourself and become a better investor..Or make 100$ a week ripping apart a company who's sole purpose is to prolong life for Moms, Dads, daughters
dying of Cancer. What a wasted life..
You make a good point about the compensation practices of early stage (that is, before or just after commercialized products are rolled out) companies. Despite the passage of years, VICL is definitely in this category. Silicon Valley companies, for example, have created more millionaires, and quite few billionaires, via their distribution of very low-priced options, equity shares and gifts of stock instead of cash. Quite simply, the tech sector operates on a different set of assumptions and incentives than do others - and they assume that employees, including executives, are mobile and always have employment alternatives . It is not a huge deal when CEOs, or even the founders of a technology development firm depart, so why get so worked-up about the departure of a CFO, who has no role in product development, science, regulatory approvals or marketing?
BTW, it would not be an altogether bad idea if some of the less-informed members of this MB took the time to understand what a CFO does, and does not do, within a corporation, especially one such as VICL that does not yet have major revenue streams.
You provide a general description of compensation packages for ceo/cfo's. Although general, there is nothing uniform across the board. Almost all companies have compensation committees which address this issue and provide benchmarks and incentives if certain results which are obtained. I have read Vical's in depth and watch adjustments to it for years. I can assure all here that there are substantial rewards for certain results.
You mention the the CFO has no role in" product development, science, regulatory approvals or marketing".
This is entirely false. They absolutely have a role. Who determines how to finance product development, trials of various FDA trials, scientific endeavors, and such ? The CFO is very much involved.
Your suggestion that people take time to understand is excellent. I would recommend that people start with the filing at SEC.gov and search the Vical filings. They will see compensation, board members coming up for renewal or retirement, and infinite trivial information that is bantered here on a daily basis.
Finally, when so much is at stake with "results oriented compensation policies" there is a trail of tears where CEO'S, CFO's, and others have been taken down by temptation. My biggest loss in life was an investment is Sequenom. All the logic and intelligence suggested that their technology and science was a home run. We waited and waited for test results. And then.........(read about sqnm events littered across the internet) And then...........the CFO was ousted (Harry Styllii) and the person at the head of testing and results was being charged by the SEC (Elizabeth Dragon) who died before serving. (This is only an example. I in no way suggest any correlation and would not make been a shareholder for so long if I thought otherwise.)
All of this wild speculation is just that. Speculation. If someone here knows it would be through information that is and has not been released.