This was a shameful performance by Rose and his CFO. NEVER have I seen a management team with so little respect for its shareholders. They thank everyone for the "vigorous" questioning, yet answered virtually none of them! They refuse talk about anything! They OWE their investors and analysts at least a roadmap to the NDA filing, especially if they are not going to recognize any revenue until approval. Their arrogance is downright appalling. They would not even answer whether PIP would be paid during the deferred revenue period! I will never invest another dime in this company.
I wanted an explanation as well. But maybe there's a reason for delaying the pivotal studies, a reason they dont want to tell us. If they encounter SAE's in the clinical trial or poor/inconclusive results with the animal studies, either of which may prevent approval, then it makes sense to wait until the 1.7 mill doses are in the SNS and the money has been received. It sounded like they would not have to repay BARDA if approval is not achieved. I suspect the trial and pivotal animal studies will be finished within days/weeks of providing the last batch of drug to the SNS. This is the only reason I can think of for not starting this trial immediately. Same with the IV formula - IND has been filed but they're not recruiting volunteers. I have never heard of a drug company doing this unless regulatory or supply issues are involved, neither of which seem to be in play here. GLTAL
As I predicted in an earlier post last week, he said nothing. Jayand777 you're wrong about not caring about their shareholders. They care a great deal about one shareholder, Ron Perelman. The rest of us are at best an annoyance to the arrogant incompetent.
I agree with you on the NDA filing. I see nothing confidential in terms of when they will file that. Have a large position in AMRN and they were very clear on thheir timetable for filing their NDA and sNDA which they said woudl be filed in February and was.
Right on. I've been saying that for a long time. His arrogant patronistic attitude is absurd for a public company. WHY can't they give an ESTIMATE or road map of time for an NDA file when this was supposed to be done YEARS ago. It's pathetic. And, now they are CHOOSING to defer ALL revenue until the end of the contract, TWO YEARS from now, thus not making the stock look valuable until then. A small biotech with a non existing P/E will always be overlooked. They can change that this year, however, they are choosing not to. Morons.
lesson learned "he who makes the rules, holds the power" If PIP wins but a box of donuts, SIGA will see to it that revenues are deferred till the remaining 8 yrs is up. Never #$%$ off the boss. I wonder how many courses have been distributed amoungst close neighbors in the Hamptons, NYC and Tel Aviv? I'd probably do likewise.