not to forget: - they fucked up SP trials - they failed 1st IPO try - they rejected 100 mio oustanding milestones from ENDO (what habe been enogh to avoid any dilution)
Here another of Jack "ehm ahh loser" Talley fairy tales: http://phx.corporate-ir.net/phoenix.zhtml?c=123046&p=irol-newsArticle&ID=479366&highlight= Jack Talley, Chief Executive Officer of EpiCept commented, "EpiCept is exceptionally pleased to work with Endo as a recognized leader in the field of pain management to address this widespread medical problem. We look forward to the successful clinical development of the Lidoderm(R) patch to treat chronic back pain and LidoPAIN BP(R) to treat acute back pain with lidocaine-based topical patches."
That was 2003
Now he is coninueing with misleading information on Ceplene partnership.
Thats what he promised 2008: - Mr. Talley continued: "Several potential commercial partners with established sales infrastructures in hematology and oncology in Europe have expressed interest in marketing Ceplene and are in various stages of due diligence. We expect to share further details on our commercialization strategy later this year."
- Having secured European approval of Ceplene, the next key item has been advancing partnership dialogues for Ceplene marketing rights and preparing for a commercial launch as soon as possible in 2009.
He also promised a partner for Q4 2008, then for Q1 2009 and so on.
Did you get it ?
Other companies market their product (latest!) within 3 months after approval. Why ? Because they are prepared and they know hwat they are doing !
Again and again: A great pipeline and an approved product is NOTHING with a omplete loser management !
- Do you know that they failed the first CHMP submission in early 2008? And the CHMP had told them it was NOT going to pass; yet they still failed to address the issues within the 30 days they had been given! If they had done that right the approval would have been done 6 month earlier (before the economy collapse)!
- And no matter how you slice it, they failed to show enough value to the first tentative partner, who then walked away. And that was a lot of time wasted!
- First they said FDA application in the second half of 2009, later q4 2009, and somewhere I heard from Epicept that it might be 2010 now. Considering how important it is can’t they get it done?
Epicept has a very good portfolio and a lot of promise. But this management just doesn’t seem to be able to bring that promise into value. I believe eventually they will, just like a kid that keeps failing kindergarten will eventually make it to first grade. But just because it eventually happens does NOT mean the management is good.