Your snap, one sentence, pure unsupported opinions are great.
Now try googling every line of the original message and see about "Telik ethics" and Icahn worst and the people who were laid off etc. Be careful whom you call a liar, Bucko!
How many stockholders out there think $514k/year plus bonus' is perfectly fair compensation for the CEO of a 17 employee company with no products ever produced? Show by Thumbs up (fair) or thumbs down for (unfair)
Here is direct copy and paste from FDA-Hopefully you can read:
Result Number: 1
Generic Name: ezatiostat hydrochloride
Trade Name: Telintra
Date Designated: 01-09-2013
Orphan Designation: Treatment of myelodysplastic syndrome
Orphan Designation Status: Designated
FDA Orphan Approval Status: Not FDA Approved for Orphan Indication
Sponsor: Telik, Inc.
700 Hansen Way
Palo Alto, CA 94304-1016
The rest of post contains absolutely no opinion at all. Why don't you look up each and every point, starting with Telik fails ethics test, then Icahn's worst..etc etc.
Orphan Status applied for...NOT yet approved.
Personnel have gone from 140+ to about 20.
Amongst the people who left were the CFO and the Product Development Guy.
Many of their best scientists and employees have gone elsewhere.
Before I relocated out-of-state, Telik's facilty/parking was a wasteland.
No insiders buying...Institutions selling
Telik has history of "selective disclosure" to investors and FDA so you can't trust their "announcements" to be truthful.
Upper management pays themselves like they are managing a company with 2000+ employees.
Telik had failed Diabetes program in 1997.
Telik had failed TLK 296 (Telcyta) program in 2006
Telik's TLK 199 (Telintra) was a secondary, not too important program until Telcyta bombed.
Telik is not a biotech startup-they have been trying since 1986 to develop something. No success yet.
Google Icahn's worst stock picks and see Telik there. He sold all his holdings.
Chief Medical Officer is wife of CEO--normally not a very good idea.
In the early days, Telik (AKA Terrapin) had a Molecular Recognition Library (TRAP) that looked like it had a lot of potental. It was not sought after and did not make any money.
Ask yourself, why would the VP of Product Development be laid off if they were on the cusp of success? Less