APPENDIX 2 – Jack Lief’s Promises About 2015 vs. Reality
Stock has tanked since 14 Jan 2014 when Jack said “This year is shaping up to be a especially interesting year for Arena”. Investors are fed up with receiving lip service from this management team, and year after year of erosion in share price while management rakes hefty salaries, bonuses and options.
Ø “This year is shaping up to be a especially interesting year for Arena -- this presentation will illustrate our clear focus on building shareholder value.” January 14th, 2015 at J.P. Morgan Healthcare Conference [$6.13]
Ø ”As investors and people will see this year we're basically with our pipeline advancing into phase 2 programs we're basically a completely different company than we were viewed as last year… The demand for exciting new drugs is SUBSTANTIAL (with emphasis) in the market. We've seen that since we announced 334 data - we have interest in all of our pipeline products with other companies.“ February 24, 2015, RBC Capital Markets [$4.74]
Ø ”We are optimistic about opportunities to create additional value, both through continued growth in BELVIQ sales and through our development programs. We believe the intrinsic value of our development program assets will increase significantly in 2015, as we advance our candidates in multiple late-stage clinical trials, file an NDA for our QD lorcaserin formulation and report additional clinical data...” Mar. 2, 2015, Earnings Call [$4.50]
But Jack won't quit until he's forced out because Arena's got a severe case of Founders' Syndrome and he doesn't see that he IS the problem and people around him don't tell him because they want to keep their jobs and the Board is attached to their fat salaries and free stock options and none of these people give a damn about shareholders, IMO, except when it comes to raising money. Jack's is a big failure when it comes to shareholder value. A miserable CEO who's got to go for many reasons that will be enumerated soon in a big publication.
Typical answer is that he's very excited. He should be. At over $5000 a day salary PLUS PLUS who wouldn't be excited. The bad news for them is that this can and will not continue. Arena has a great technology and it needs to get the valuation it deserves.
While I don't agree with the "scam" accusation it's true that that getting themselves more options REGARDLESS of shareholder value SUCKS BIGTIME. They apparently have said, well if things don't change we may have to add shareholder value as a frikin criteria -- what the hell? this should have happened years ago but they don't give a sugar about shareholders.
Scamming is a serious charge. I would not say that. But their mode of operation has been to raise money and not care for shareholders, IMO. And that MUST change, one way or another.
firing is a long process that could take at the latest another approximately a year but if an institutional activist leads, it can take a lot shorter. Retail can also lead and bring tutes on board the effort if Arena doesn't change some of its ways and mode of operation and attitude towards certain things quickly and fundamentally.
so shove your marginal efficacy shortie
See the new section of before after pictures on
more coming as consents are gathered.
you're not qualified to comment on that because you're dumb as a rock as evidenced by your numerous posts which prove you can only think in bumper stickers and unable to comprehend any phrase beyond a few words. Typical of the stupidity epidemic. Then again, if you weren't stupid you wouldn't be a coward hiding behind an ID and posting falsehoods as facts or be a troll on an anonymous message board in order to spice up your pathetic boring shallow life of a stupid man that you are.
You're too dumb for debate. Have fun with your imaginary #$%$ match. I bet it gives your pathetic life meaning.
Burden of proof against what charge? What law is broken in posting a rumor you hear as long as it's not defamatory, you're not trading around it, and it's clearly stated as a rumor! DUHHHHHH! If you know the answer you wouldn't be an "anonymous" troll.
you're too dumb -- get some help from a lawyer to explain this to you -- you're going to need it.
Exactly Jim - don't worry about fools like him who hear a buzz word and immediately think bumper sticker lines. They're unable to analyze things, think for themselves most importantly -- or he's no fool and is one of those, or in the camp of those, who absolutely dread a buyout.
I think he might be feeling some pressure. I hope people voice their opinions directly to the company than just venting on message boards. Arena's been sitting i fluffy chair of status quo for too long and simply NOT delivering shareholder value. Time's almost up. I too hope he sells the company in the next 5 months or resign. Both events will make shares rally.
Please don't rely on Jack reading this board. I don't even know if he reads all his emails. But you have a much better chance of making a difference by contacting the company directly. If all the people who are unhappy about things contact the people in charge directly things would have a much better chance of improving. Instead people vent on message board and stop real action. Arena can be contacted in several ways:
by post (their address is on their website)
by email (usually first initial plus last name at arenapharm
via website (there's a contact us page - click on contact IR and SEND FEEDBACK option)
ideally do all three if you want to get your voice across
Don't harass them, don't lie, don't cuss and if you really have to because you're so upset try to find politer words. You have the right to voice your opinion to them.
You won't go to prison don't worry but the trouble ain't worth it. The rule of thumb is very simple: if you're going to post statements about people whose identity are known (even if you don't mention their name as long as community knows who they are -- but in this case you've been mentioning real names), make sure what you're posting about specific persons is true because if you lie about this, which you did in this case, this is against the law. As for posting a rumor, have the character to admit you were wrong or at least shut up instead of trying to cover up your misinformation with BS.
I figured that's all you could come up with since your BS was refuted. You had NOTHING to show for the false accusation you made. You were shown to be WRONG about your assessment of legality of what I posted. You proved to be legally ignorant when you abused your right to anonymous speech by just tagging a falsehood with I BELIEVE, and you probably also don't know that if you abuse your rights you lose it. Have a nice day!
Another coward who's hiding behind an ID and too dumb to know using "I believe" doesn't get him off the hook on defamation (what lies dumbshit? you can't even post a single lie I've ever said and you're calling me that. your very action there is illegal).
As for the person telling me that -- he didn't -- his friend told me -- and I relayed it and clearly marked it as a rumor. THat is absolutely NOT illegal -- even if the source was right it was his problem for telling my friend and not my problem but i think this analysis is too tough for a dumbshit like you to grasp.