JDS is brainwashed and a biotech newbie. I once thought the CEO of GNTA Ray Warrell was a genius. Genasense was going to work with (enhance) every cancer drug in nearly all forms of cancer. He told a great story (at least he could communicate and persuade). GNTA's drug did not work, company folded, lesson learned. I am not expecting that here, my point is Jack is not a strong CEO, not even a good CEO because he's not shareholder value focused, not a strong business professional and can't communicate. He also does not hire strong business professionals. Other than that, he's great.
The CFO has a BBA in accounting, no advanced degree, no MBA or Finance degree. Who is the strong business professional making business/financial/shareholder value focused decisions here?
actually, I think it went to about $2. Their reckless CEO spent too much money on plant, land, bulidings...I would take $14 all day long, maybe even $8-10 to get out of this.
If his retirement came with a statement that they have hired an investment banking firm to consider "all options" to max shareholder value, price would be up 50%. If not, maybe 20-25%. ARNA must hire a better business leader. They can take the current bean counter along with Jack; he adds little, or no value and his also highly over-compensated.
Story on FierceBiotech about their cutting some R&D programs. Don't be surprised if ACAD has some products returned soon. If they keep the ACAD collaboration programs, that would be a major + for their outlook.
Jack and the bean counter are clearly not market, or business savvy- example the Deerfield fleecing. Shareholders need to apply pressure for Jack to retire the CEO position.
Hi Sharon. What makes you think Jack is giving up his role as CEO? I doubt he will give up the chairman role, that takes less time, has less responsibility and still makes him some money. If he is to stay involved, this is the better role, they need a business exec to take over as CEO. It might be difficult to find someone strong with Jack as Chairman unless he allows the new CEO the authority to make positive change. If they wait much longer, they might need a turnaround pro.
love the idea, this board needs to be shaken up. They are bought and paid for yes men and women, we need someone to fight for the shareholders. You have much more stock than me, but I would pledge my share vote if the person is intelligent, savvy and focused on shareholders. I would not vote for Jim, I would vote for S9.
Thanks Jack, keep up the good work!
why is he excited another stock option grant coming for the execs and BOD members? Jack is probably responsible for 10 of the 15%, the market and sector the other 5%. More to come is the problem, but I think the market and investors sent a loud and clear message to Jack that his actions matter and he better start focusing on actions to improve shareholder value.
Good to see Jack is not going to make much more on his remaining options unless he gets the price up. He has a few cheap ones remaining from the stupid DF financing days, but many more at $6.99+ and $6.16 for the next batch, or they become worthless. Let's hope he doesn't go crazy, panic and start execrising and selling more of the low-priced options. he has stolen from the shareholders (an opinion).
Unless sales ramp up soon, they are going to need some cost cutting, or financing, they can't keep burning $20MM+ per quarter forever. It seems like they have a lot of dead wood starting right at the top.
check on YTD, 12 months, 5 years, 10 years, 20 years and get back to us on what you find. Hint: it's not so good except against LJPC, a terrible company.
sure, he sold because the company is being acquired. Unless they are being acquired for $4, that would be a stupid sale. Well, he is not so bright, so maybe you are on to something.