We've all heard stories about both people and companies that became overnight successes. In reality, if you dig just a little deeper you generally find they struggled for many years, even decades, but they struggled at times when few, if anyone was watching.
AEZS has certainly struggled, even though it's developed one approved product and has a second that should be approved by next year. Many struggling biotech's have spent as much or more time and have nothing whatsoever approved, yet may have larger market caps.
While the new CEO may be the answer, I certainly hope he doesn't throw out the baby with the bathwater. I'm referring to the breadth of the pipeline. It's one thing to trim expenses and concentrate on what's closer to fruition, but it's another thing entirely to stop all long term efforts and abandon all research on products beyond those already in the clinic. I would hope the new CEO takes a balanced approach that permits development of the pipeline, albeit slower, in addition to culminating partnerships on drugs in the clinic with worthy trial results. If the company gets sufficient partnerships, it can fund research on preclinical pipeline products until such time as approvals come for products that will generate the success investors are really looking for.
If I'm right, a few years from now investors will be looking at AEZS as an overnight success, not because it happened overnight, but because perhaps 90% of those invested in it had not heard of it prior to 2014. If you're lucky enough to be part of the 10% that did, you'll have been well rewarded.