Sanjay Valvani, a hedge fund manager at Visium Asset Management who was arrested last week on insider trading charges, has been found dead in an apparent suicide, the police said on Tuesday.
Valvani, 44, was discovered by his wife on Monday evening at his Brooklyn residence with a wound to his neck, a New York Police Department spokeswoman said. A suicide note has been recovered, as well as a knife, she added.
Valvani was arrested last Wednesday and accused of having fraudulently made $25 million by gaining advance word about U.S. Food and Drug Administration approvals of generic drug applications.
Two years ago, while visiting Cleveland, we drove downtown the day after LeBron James said he was coming back home to play for the Cavs. The impromptu signs in the center of town said just one word - "FORGIVEN." He was welcomed back home and took the pressure on himself to make tonight happen.
Years ago, when we lived in Cleveland, I remember climbing up to our seats to watch the Cav's games even when I was 8 months pregnant. This win is huge, historic. Now lets watch SRPT do the same!!
Interesting article. Mentions Woodcock, ADCOM, meeting with parents, etc.
Vantage Point - Patient-Reported Data Gain Traction In FDA Decisions
Jun. 9, 2016 10:56 AM ET| About: Sarepta Therapeutics, Inc. (SRPT)
"No matter how the US FDA deals with Sarepta Therapeutics' (NASDAQ:SRPT) Duchenne muscular dystrophy project eteplirsen, one potential solace is that because of fierce activism surrounding the project regulators might now be more attuned than ever to incorporating patient advocates' views into agency action."
Well, I'm glad that I am not alone in my reasons for having remained in this stock. You and Thig get it. I may or may not eventually make a lot of money with this company, but I know one thing: I will be richer for having owned it. Profiles in courage.
You could not be more wrong. Quite a few of us on the board have held this stock for over a decade and have come to empathize with the parents and children affected by DMD.
Several of those parents actually read our posts, including yours. If you are a parent, I sincerely hope that you never even approach the level of stress that the parents of DMD boys experience. They live with hope and have worked tirelessly to get this medication to their children.
If you are not able to empathize with suffering people, you are a sociopath. If you are able to empathize but are still shorting this stock, well...you have to live with yourself. In either case, I am glad I do not know you.
Speed, thank you for serving. All four of my grandparents came to the U.S. From Holland. Our family definitely knew about the situation there during WWII. My dad and his two brothers enlisted early and each picked a different branch of the service. They were trying to up the odds of one of them making it home alive; they knew it would probably kill their mother if they all died.
Dad and his brothers were acutely aware that they were putting their lives on the line when they enlisted. Dad was in the navy in the South Pacific and saw a lot of action. It all came back to him right before he died a few years ago at age 97; he had terrible PTSD and thought he was back in a sea battle with his friends dying around him. He never talked about his service in WWII.
Thank you for sharing the lovely story.
Ha! Cute. I think I understand why you wrote that. Not to worry, I don't watch the political stuff at night...just check out the crawl at the bottom in the morning and evening.
The crawl ran across the screen citing news events: national news, politics, foreign news...then - I was surprised to see the following. "FDA to take more time to evaluate muscular dystrophy drug from Sarepta Therapeutics."
After being long for about 12 years, it was a bit of a surprise to see "our" situation on a non-CNBC crawl. I may have underestimated how many eyes are actually watching as SRPT's story unfolds. We, the families and stockholders, are certainly not the only ones watching and waiting.
...vs the spirit of the law may apply somewhat in this situation, but one thing is clear: Farkas and others have relied on the letter of the law that preceded the current law, under which Etep should have been judged.
There was no rational excuse for not using the current wording in FDASIA. The ADCOM was a series of missteps on the part of the committee and will be overturned.
This stock is about trying to build an investment while helping to prevent children from losing the ability to walk and helping older children to stay alive. I am putting you on ignore.
I thought the article was very well written; it covered all the main bases. Loved the expression that the FDA had gone rogue!
Thanks for the heads up. Best article on the ADCOM that I have read so far: factual and emotional (at least for me). I've been with AVII and SRPT for about 12 years and have earned the right to be emotional. Really earned it. ;)
Only time this has ever happened to me. All 20 posts on the first screen are hidden. Sigh of relief.
Thanks again to all the serious posters on this msg board...we have a lot of them compared to other biotech boards I have followed through the years. You are much appreciated and it brightens my day to read the insights you so generously share. Kudos to you!
We all know the old saying about the letter of the law vs the intent of the law. In this case, FDASIA had a clear intent which somehow became lost in translation and the committee got bogged down in the letter of the law and did not attempt to carry out its intent.
It might be helpful if someone in Congress would reach out to Janet Woodcock and reinforce the intent of the law that congress passed so that she may feel confident in choosing to rely on it rather than the ADCOM's narrow interpretation.
A tremendous burden has been placed on JW. She is in a very hard place. Let's give her the support and ammo she needs to make the right choice.
Exactly. I heard Ed Kaye cut off twice when he wanted to go to slides to help illustrate his answer to two questions. There may have been more instances that I missed. The entire day was so bizarre that I felt beaten up after the event. One day is not remotely enough to cover the agenda they were faced with. But to cut off the interim CEO of the applicant company multiple times was inexcusable. Bad planning added to all the other missteps by the FDA yesterday.
Agree with you. I was able to see and listen to most of today's proceedings (about 10 hours worth!) Via WebCam. Awfully interesting how precise her wording was and how positive toward Sarepta without directly saying so. I'm wondering if there may possibly be a little wiggle room left.