So sort of like when I call IR, nobody there to answer ...
At least it isn't signifcantly lower, which is where it's headed with this executive team.
What I want from tomorrow's call is simple - accountability, integrity, and resignations. Management needs to step up, be accountable for their repeated failings, and have the ethical integrity to resign. That will save shareholders and the company from a very ugly, and inevitable, proxy fight to throw them out and have them fired.
They will try to pretend "we did nothing wrong" but they just don't get it. We hired them to do a job, get Eteplirsen approved by the FDA in a reasonable amount of time. They have not done that. Instead they have come up with really good excuses on why they couldn't do it.
I believe them. They can't do it.
Time to move to people who CAN.
I need to correct you. BUYing this stock was dumb. I wish I never had been misled by the company. I fell for it.
Now, holding through earnings... If I sell all my shares I can't vote the incompetents out, so I'll have to hold long enough to force out this management team. Contacting the major fund holders to push for a proxy vote to toss out mgt.
I respectfully disagree, and here is why. I believe there is some fundamental problem that the FDA has with the current management team. To force a bad situation, or sugar coat the problems that are there will only lead to more frustration. By replacing an inept management team that cannot get the job done with a more effective team, it will open the doors with the FDA to expedite approval of Eteplirsen to the benefit of all.
I believe I understand your argument, but it is based on an invalid presupposition (that Management is not the problem). I believe management at SRPT is precisely the problem, and taking corrective action by replacing them opens up opportunities that will otherwise be closed.
We believed the CEO last time and we have absolutely no reason to believe him this time.
Fool me once, shame on you.
Fool me twice, shame on me.
I will concede the point, though I don't think it was seriously considered dead money back then. Now we have REPEATED delays combined with REPEATED missteps/misreads by management, and that is what makes it dead money.
What would be your rationale for the arbitrary delay?
I would argue that if they miss yet another target filing date, that no NDA will EVER be filed.
I'm calling for the resignation of the CEO & CFO/CAO/IR as they clearly lack the ability to lead this company to a successful submission with the FDA. Use whatever excuse you want, they haven't gotten it done and we are faced with yet another 6-month delay. We need to leadership and need it now.
Who do you hold accountable then? The FDA or Management or both?
No whining at all. Simply stating hat very few shareholders would give management yet another free pass after so many missteps. Only the most naive investor would not hold management accountable.
For that matter, any ethical management team would have already realized that they were the problem and would have stepped down by now.
I agree the drug appears to be effective, which means it is managements fault for the delays. You can't really spin it any other way. Management is inept and can't get the job done. Time for a change.
When you get right down to it, this is yet ANOTHER delay in even trying to start with the FDA. There is no end point established, no final goal confirmed on what the FDA needs to have. This can go on FOREVER. 6-months from now the FDA could easily ask for more data, or want to wait even longer for the supplemental trials. It is a guess at best because management hasn't nailed down the acceptable criteria with the FDA.
This is negotiating 101 that management missed. They haven't established and validated the end game criteria. SRPT needs new management.
You recognized it before I did. I am definitely done giving them 2nd, 3rd, and 4th chances to blow it. This was the last one.
Wrong. I was long, and yes I got burned because I didn't recognize the limitations of management. Now, as an owner of the company, I'm holding them accountable. I am not short, nor ever have been. All longs should be just as angry with the mis-management as I am - otherwise they deserve to get whatever management gives them. This management team can NOT get it done. Period.
While you may accept that, I do not. I want to change out management.