I can't believe they picked this clown. He ran Epix and Transkaryotic into the dirt. He oversaw the collapse of VVUS. He was pressured to resign from the SSA due to allegations of malfeasance. Is this really the guy you want steering the ship? LMFAO!!
I'm not sure that he ran both companies into the ground. I did a search on Epix and the quote from the article indicated that he successfully engineered the merger of the company with Predix.
"On April 3, 2006, the company announced the signing of a definitive merger agreement with Predix Pharmaceuticals, a pharmaceutical company in Lexington."
Basically, he was brought in for the specific purpose of finding an acquisition to help the company diversify its portfolio.
With Transkaryotic, it flopped initially because the previous CEO was involved in shady behavior. Astrue was widely hailed for the turnaround of the company. On Feb, 2003 he was announced the CEO. The stock price around that time was trading at less than $5. By the time it was sold to Shire in 2005, the price per share was $37.
With his background in M&A, I think Astrue's goal is to set in motion the merger or identify a partner for InVivo.
Why would I believe anything from an admitted high school dropout with no training in the markets who does nothing but fight with Twitter conversations who have seen Scott Matusows bogus predictions fail OVER and OVER? No respectable investor trusts Misinformathrope = Scott Matusow.
Yes, it is. Also search "Michael J Astrue" and click the Social Security Administration link that gives his bio... Very impressive. The fact that NVIV can attract this type of talent and clout is AWESOME.
Astrue is a grad of Yale, worked for at least 3 presidential admins, has been bio tech company executive, comm. of social security, etc. How could one keep Frank when a man of this guys credentials is available? I agree, Frank was a great salesman/PR person, and got a lot of media coverage, but as is often the case in the real world, there comes a time when a change must be made for the good of the company. I will be amazed if the market does not take this in a positive way.