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  • cytomotw cytomotw May 20, 2013 5:20 PM Flag

    8K out - potential bad news???

    The VP of R&D resigned effective May 10th. Wonder why it too a week to tell us. Also wonder if this means that FDA has said NO again.

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    • Don't you think your assumption is a bit naive? If he would have left the company in bad terms and wouldn't believe FDA will approve LuViva the word would have spread much earlier and you would have seen downwards pressure on the PPS...many days earlier....

    • Ya'll need to look at this guy's LinkedIn profile and you will see that he never left LumaMed. He has been with both companies for the duration. I would not look any futher into this than a technicality. IMO

    • The VP in question Shabbir Bambot, was also involved in 2011/2012 in another Atlanta based company called LunaMed.. I think that company is inactive from the looks of their website.. So is he getting out because there's going to be a sale .. not sure.. But this guy has been involved with the co for many years.

      • 1 Reply to dy2dx
      • akbarney May 20, 2013 8:20 PM Flag

        Well, instead of speculating about this I took the time to call. Fact of the matter is that the company is no longer running a R and D department. They have moved past that point of development and he really didn't have much to do. This was agreed to by both parties. Everyone left on great terms. He will benefit greatly from the upcoming news as we all will. The company is now on to the next stage of growth. All things are good. They are focused on the two products they are making and marketing.

        Sentiment: Strong Buy

    • I don't think this is indicative of an FDA decision. He resigned prior to the conference call last week, and they did not know of the FDA decision at that point. Maybe he just isn't the right guy for the job and they pushed him to leave. Who knows?

      • 1 Reply to seanoise
      • Well, he is a co-founder of the company and has been there for about 20 years so it would seem odd that he just decided to resign right before an unknown binary event occured that could cause the stock to shoot to the moon. I would think if he had a problem with work ethic we would have know about it 20 years ago.

        I haven't seen a Form 4 filed by him yet and he owns about 600,000 shares. Something certainly does stink here.

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