I would call it coming to grips with the reality of the situation. He is well past frustration, anger and denial.
But he as many longs on here I am sure are just waiting for the day that they can cut their loses in half. Waiting day in and day out hoping for some good news that will spike the stock up so they can take their lumps and get out.
Talk is cheap, actions speak louder then words. Arena management does not seem to get this easy concept. They listen wide eyed hoping that Eisai will pull off the miracle and make Belviq a block buster. The have failed Arena shareholders allowing Eisai to control the entire world.
I do still doubt their commitment and ability, you can want it all but if you don't have the cash or the know how it ain't going to happen. They have Belviq for over 95% of the world and have done nothing with that product. As of Craigs last meeting they are planning to complete their plan and meet with the EU to see if that plan is ok with them. This far into the game and they have not met with the EU to discuss moving forward. Still trying to determine a path forward, ARE YOU KIDDING ME? Maybe they don't want to move forward because they don't have the cash or the experience to successfully launch it. Maybe they just don't know what to do and so they do nothing hoping for something to change and happen.
Definition of insanity doing the same thing over and over and expecting different results.... That could be said for me as well, my continuing to give Arena and Eisai chances at destroying even more of my capital.
Message from Top Management
Alliances for BELVIQ, the weight management treatment launched in the United States in June 2013, have expanded worldwide. We are working toward development, filing, and expansion of indications in each country.
We ask all of our shareholders for their continued support going forward.
Signature: Haruo Naito
Did I miss something? What alliances for Belviq worldwide do we have?
Laying off 50 salesmen and their support staff is probably a good thing since they were not getting the job done. Never understood why so many in the first place when only 300 or so hospitals were potential targets.
Blow up Arena phones and email as shareholders. Question their sanity and logic and voice you would vote against them if the opportunity came up. They need to hear from shareholders, they don't come here and ready message boards...
Eisai IR has been blown up by Arena investors, I talked with DL and he said they were very unhappy and understood why.
who is buying all of these shares being sold?
tho Eisai is clearly pulling back and cutting their efforts on marketing Belviq? I mean it sound insane and clearly is a very unwise decision, however, if you look at their past performances that is a very realistic outcome. Craig stated they are happy with Eisai and that Eisai is still committed to marketing Belviq but when asked details he had nothing. It feels like the are passing the buck to Eisai and are no longer responsible for the drug.
I can't believe they did not get in there and do something to assist in getting the drug partnered off or sold off completely. Just because DSCO is in crisis mode and trying to reserve capital does not mean they can't still try and move it to someone that knows what they are doing..
to a couple weeks later stopping the commercialization of Surfaxin. Wonder who they were talking to, the little voices in their heads? They made about as much effort to sell of Surfaxin as they did marketing it.
If you dont lose 5% of your BMI in the first 90 days you are not a responder and should stop the drug. If your bio markers improve your doctor may keep you on it. If you are a responder you can expect 8% lose in first 90 days.
Why can't Arena see that? Or at least publicly admit that they see their partner struggling or are concerned but have been reassured by Eisai.
233 commercials since last report averaging 29 a day for 8 days, an uptick of 5 a day from a week ago.
National Airings 12,048
Spot Spend Rank 492
Spend Rank: 717
Airing Rank: 724
I don't buy it at least they have not been spending more for the last 2 months. Will they spend more next month or the months after? Only time will tell. I think Eisai is out of their league and lacks the expertise to get this job handled.
We have a great product licensed to a partner that is facing financial crisis, does not have the money to expand world wide. Has cut it marketing staff in half and has cut advertising evidenced by facts. After guiding they were going to focus and aggressively go after the consumer instead of the doctors market, basically admitting their educate the doctors yielded little results. They clearly don't have the capital to try and get back into EU right now, they have been "planning their strategy to move forward Belviq forward in the EU" for almost 2 years now.
Belviq is going to be successful on its own given enough time. The word of mouth and social media has more to do with its success then Eisai as we sit here today.
Supporting Eisai when it is clear they are over their heads and don't have the horsepower to get this handled is reckless and a violation of their fiduciary to Arena shareholders. We have had to dilute because of Eisai and if they don't get their act in gear we may have to again. Eroding even more value from existing shareholders.
It was a joke because I am tired of hearing all of the plans to plan to move forward. At some point tomorrow has to come and the plan has to be executed..
Answer. We are planning a CC to address those concerns and will do so after we have meet to plan when that CC will be and what we plan to address in that meeting.
How much do we pay this person?
I think Craig Audit should be fired as the Global Regulatory guy he was a total failure. He has lied to shareholders and mis lead them on many occasions. No need to have the expense and we need someone there that can actually get something accomplished... not just talk about getting things accomplished.