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Synageva BioPharma Corp. (GEVA) Message Board

  • lumpsumtrader lumpsumtrader Dec 8, 2011 2:28 PM Flag

    Handing out the Trimeris Cash!

    Well, they sure are handing out the cash they got from Trimeris.

    Has this management team done anything to increase shareholder value?

    Synageva BioPharma Corp., which recently completed a reverse merger with Trimeris Inc. (Nasdaq: TRMS), has handed CEO Sanj Patel an annual base salary of $485,000 and an annual cash bonus with a target level of up to 60 percent with a minimum payout of 25 percent.

    The Lexington-based drug developer said it also may grant Patel shares, as it announced compensation packages for four other top executives.

    CFO Carsten Boess will receive a salary of $310,000 per year and Eric Grinstead, senior vice president for commercial operations, will get $281,004 per year. Both will be eligible for a cash bonus of up to 35 percent.

    Chief Medical Officer Anthony Quinn​ will receive $351,390 per year and Mark Goldberg, senior vice president for product development, will get an annual salary of $320,000. Both will be eligible for a cash bonus of up to 40 percent.

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    • Someone seems to like the drugs they are developing based on the stock's recent performance. The story is a reasonable one - they are a mini Biomarin (or a micro Genzyme). But data is pretty limited and their lead drug isn't far advanced in the clinic, so I don't take the stock movement too seriously. Also odd that they chose to do a reverse merger to go public - sure they get the Trimeris royalties, but those are declining pretty rapidly - often that's not a good sign.

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