I understand the benefits of s110 but remember 5+ years of management hype to get it into the clinics. Another 5 years and the 130 mil is gone, the 75 mil yearly Dacogen revenues will be gone but management bonuses and stock options continue.
I think like think and the share price reflects the reality of the situation. Think I agree with you. If management stops its shareholder abuse, the share price will move up. Until then we continue the downwatd spiral.
Stock only ended down 1.08 % with market up over 1%. Down on low volume, no buyers. This happens every time we have an investor day. My advice is we stop these useless and costly presentations. How about giving shareholders more information about progress so we don't have to complain about bonuses. Save the money so you have more money for bonuses.
A yahoo user
We all understand it takes time to move drugs forward. The problem is the excessive pay for no results. Look at other biotechs. CEO's are not being paid 10's of millions. In fact GNW, an insurance company today hired a CEO paying him 1 million a year. GNW has a market cap of 3.4 billion and thousands of employees and billions in investments. How do you justify man uso's compensation?
Kyjellie, you sound like your last name is Enns or Man uso! Why can't you or Astex promote all the Astex phase 2 products? We have been hearing about s110 for five years now. Supergen/Astex has been spending 60 to 80 million per year and results are?
I don't have a problem paying bonuses when earned. How many pharmas have promising new drugs and yet their CEO's are not or were not paid 10's of millions on salary, bonuses and stock options while share price moves from $24+ to $1.50 plus.
Look at GNW today with a market cap of ..3.4 billion, a multicontinent insurance company with billions invested announced a new CEO paying him 1 million a year. Infinitely more complex a position than Man uso's whose major accomplishment is presenting to analysts at conferences.
TIM Enns justifies these bonuses by saying management met the objectives set out in the proxy statement. Anyone know what those objectives were?
How do you justify bonuses when you expect to lose money next year? Lose money with almost 76 plus million in Dacogen revenues. I guess getting two drugs into phase 1, one after 5 years deserves bonuses. What about the 35 million Montigen screw up? Oh well its easy come easy go.
Too too you better go back to 3rd grade and start your math program again. SRPT is over $26 dollars and holding after a significant run up. Astex is down 100% after JNJ and Eiasi made Dacogen news. What did man uso do. He sold an asset he purchased under suspicious reasons, and as someone on this board wrote it off the books and then sells it at what price? Astex can only dream of a $26 dollar price.
I don't might management options if they ate earned but at $1.71 when share price is down 100% from 3-4 years ago and 100% from several months ago is ripping off share holders in my opinion. We have ago 110 in pharmas 1 after 5 years of development? Bonuses come next.
I see the strategy with options. Man uso is focused on shareholders. We management with options will further steal this company. Then we focus on creating shareholder value. Wonder when they announce man uso's shares!
Next is cash bonuses