today's cuts extend the runway before they will need to raise capital. Now they have time to partner. This should have been done by the BOD, but they are just money-sucking, do nothing...good for nothing.
selling shares would not be good for their stock options and that's why they should be aligned with the shareholders IMO.
what is really sad is people like you who have no job, no moral compass, and just sit around trying to scare people. Get a job man, do something positive with your life. Posting garbage is not a real job.
I was told weeks ago that they had indications of interest in partnering. Now they need to negotiate the best deal, select the best partner and avoid low-priced dilution.
Maybe I should have written cuts and then deals. Cuts were long overdue and necessary because cash burn was unsustainable, the revenue is taking far longer than management planned. BOD fiddled while cash burned. Now we need deals, partners to move the compounds forward in clinical trials while hopefully providing some up front cash and milestone payments and revenues from eventual sales.
The final step (1-2 years) is a complete sale to the partner/company that has success in moving one of the 3 product candidates forward.
It would be helpful if Belviq would provide more revenue, but that does not seem likely to happen until after the CVOT, if ever.
Sad it took them co long to do something I've been harping on with them for 2 years. What is my reward, owning this #$%$ stock another 1-2 years and hoping (praying) for success.
Munshi and friends have their incentives, stock options. If they can get the price back to $5+ they will make a bundle and everyone will be relatively happy, win-win. Please, no low-priced dilution. The first step was taken yesterday!
just a cruel trick shorts play to crush the spirits of the shareholders, as if we need any help. Management and the BOD have done just fine and does not need any help in this area.
Read her Linked-in bio, it's not impressive. She was a chef and a temp office manager and bounced around a lot. Sounds like a Cindy-like hire to me. We shareholders can't afford this BS.
Amit is hiring some of his former employees. This one is the most curious. At Arena it does not take much experience to be an assistant VP apparently. She worked 3 months with Epirus, 1 months with Invesco, 1 months with Heidrick & Struggles and had a smattering of other jobs not related to biotech. Nice hire and use of the shareholder money Amit.
how cute, it can read and write/type. Take a look at the FierceBiotech article from today. It states that all biotech CEO's want to talk about is deals. It's Let's make a deal in biotech land. Even if Hep C is a failure, Factor D could make ACHN worth $BB's in 1-2 years and of course they have $400MM in cash in the bank to fund development all the way.
See the article, it's let's make a deal time in biotech land. It would be nice if the long overdue data was available. Let's get something done for the shareholders ARNA BOD and execs.
Immunogen was working on a similar target FOLR1 I think they called it. In fact, I alerted them to the ECYT folate test. I understand the target and how ADC's like Kadcyla work. So far, no one has developed a SMDC and ECYT's failed. Good luck with ECYT, I just don't think SMDC's are going to deliver enough payload to the target.
XNCR looks like a much more interesting Oncology clinical dev stage co to me, but I'm just getting started researching them.