Well, it looks like the BOD finally figured out that CC was not getting the job done, so they put a BOD member in the chair. Pearce has got more years on Collins, and has actually run companies before, but he has no pharma experience. And still no CFO.
I haven't had a chance to dig into the release yet, but this stood out:
"The growth in net revenues was due primarily to sales revenues of branded and generic products that the Company acquired from Hawthorn Pharmaceuticals and Cypress Pharmaceuticals and of Silenor acquired in the merger with Somaxon."
So, there was little to no organic growth from the legacy portfolio. The first quarter for a company that has a significant cough/cold portfolio should be good. That is probably why the market is not happy with the release.