Haven't paid attention to This thread since last read and comment over a month (many double percentage point drops in share price ago just post-IPO), this last CEO question,
This for real??!! OMER has the same guy heading all of the fiduciary and business oversight functions in the company, Even I, Magic, (ultimate business control neophyte) know that the guy writing checks should not be reconciling the books to the bank statement. Wife signs checks, Magic reviews B of A statement and cries ... where are Messieurs Sarbanes and Oxley when we bag-holders need them.
What a friggin soap opera! What are all you friends and family IPO bag-holders doing at this point? Color commentary or advise fellow bag-holders before I drop this board forever ? Thanks.
PS: Anyone start writing a book on this soap opera/horror story yet? Could be the only way to recoup losses, Can;t do it as a federal law Whitle blower, th CFO ahead of us in that. The man had inside information, not fair.
Solid fundimentals? Do you know how long they have been doing their phase III trial for a combo product for surgery irrigation? About 5 years. Should have been 2. Failure of execution.
GPCRs do you know where these came from? Nura then Dura. A failed VC company recapped then recapped then rolled into another of the VCs portfolio companies (OMER). If those GPCRs were so great, why have they not been able to monetize them over the past 5 years?
Good luck with this one. I predict a severe haircut coming when they have to do a pipe after running out of cash. Remember, they took in 60M but had to pay out 30M on their debt.
Ever wonder why the only credible financial people on this inside have been booted or resigned.
Swansta, May I suggest you contact the various fiduciary parties that get involved in IPO's and are familiar with required rules / regs / ridk factor disclosures / filings and are responsible for ensuring ALL RISK items are spelled out clearly in simple English for Yahoo chatters to understand. The prospectus / S-1 filing should identify the Arthur Andersen type firms who fulfill that fiduciary role to John Q Public, or are complicit like in Houston with AA / Enron
Of course swansta you are assuming there is an issue with all that concentration of power in one postition? hee hee. At least there won't be a long process of getting various higher ups finking on each other to get the story if all offices are held by the same person. Look at the bright side less money spent in SEC enforcement = less income taxes for us bag holders to pay. PC
Could be only ONE employee at Omeros?? All that "concentration of power", as you say, seems incongruent with basic corporate governance and the more risk-focused Sarbanes rules and regs...but not my area of expertise. Any lawyers out there who can weigh in?