Good God Gary. the annual report and 4th quarter report won’t happen until mid March at best. Just like they have every year before. Why would you tell people that you expect it at any time now? Are you being intentionally misleading? Or are you just that clueless? This company has dropped countless negative catalysts into the laps of their shareholders for years and through all of it you have been calling out ludicrous price targets ($50 dollars a share. PRE SPLIT!!! if I remember correctly, which would be $300 a share now!!!) and wild projections that have yet to be even close to what ends up ultimately happening. There is nothing that would indicate that this company will perform any differently then they have over the last 10 previous years. They build up investor’s hope so they can dilute before sealing the fate of any new investors with perpetual failures to deliver. Failure to deliver either on time lines and/or clinical results. They have done nothing but proven they are inept and incapable over so many painful years for investors, that their future action have become as predictable as clockwork!!! So enough with the “they can pull a rabbit out of their deep pipeline of a hat” BS. The only thing they have pulled out of their hat to date is absurd salaries, performance bonuses, and endless compensation at ever lower strike prices. And shareholders have paid a very painful price for believing they will ever act differently or actually accomplish anything that would add a dimes worth of value to this company as an investment.
First up will be Peri’s next big disappointment. KERX was too quick and willing to hand back all of their US rights to the drug. They could have easily afforded the 3 million to continue on with the MM clinical trials, which they started, and which would have had no effect on their Zerenex trial, knowing that a mid term peek would not have happened until AFTER they released results on Zerenex. They knew that Peri was headed for another dead end (after all they were running the trial and had already had more than enough experience with Peri) and happily handed it back over to the AEZS dream team who still haven’t figured out how to submit an NDA after years of threating to do so.
And as for the NDA for 130. Don’t count on it happening anytime soon. I’ve already explained that Engel, through his failed attempt at obtaining Fast Track designation, was not counting on having a competed NDA until sometime in the second quarter of 2013. In Engel speak that could mean sometime before 2015!!! There is obviously something wrong, or Engel hasn’t a clue how to even file an NDA. I’m inclined to believe that it’s both. Jerky Engel will be as emptied handed as he has always been when it comes to accomplishing anything that his investors expect. Especially you Gary.
And Phase III for 108??? They are months away from any trial design and 10’s of million’s ............ AT LEAST .............. short on cash they will need. They either partner or they die! Or should I say their shareholders die? It’s that simple. And who at this point wants to partner with Jerky Engel and his more than 1 million a year salary? The only chance that shareholders have is an outright sale of the company, and insiders don’t hold enough shares in a buyout to come close to the money they could make simply stringing along naive shareholders, with the help of your always wrong projections Gary, and continued being paid more than CEO’s and CFO’s of large successful biotech companies with positive cash flow who have developed working products that they’ve actually been able to bring to market.
The only thing this company is working on right now is the next highly dilutive financing. They have all but burned through the last PIPE. Most investors know this by now and only expect Engel to do what he has always done in the past, which is disappoint his investors. He doesn't really care either, and is likely only thinking about how to spend this years bonus the BOD will hand him for delivering an 80% loss on shareholder value. It’s all just the way the Jerky Boys like to fly.
The catalysts will be what they’ve always been before, dilution followed by delays, followed by failure, followed by more dilution. It’s all they know how to do.