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Posted On: 06/25/2020 12:04:22 PM
Post# of 149234
I thought that when we announced we were applying for BTD. Even to a novice like me, it was an extremely premature move.
Regarding the performance shares. They clearly won't have BTD by July 28. We are enrolling new patients now, but I think we know we need some numbers before going back to the FDA. The question is whether part of the new 100m share authorization is earmarked to renew performance shares with a later expiration date. I strongly suspect it is, and I won't be happy about it. You can argue the current progress means they earned it, but I never thought they should have had those incentives in the first place. Their incentive should be to raise the share price on the millions of shares they already have. I also believe that Nader's/Kelly's sale/reinvestment last month came with some sort of handshake deal with the board that they could recoup those shares in the future in exchange for the sale to pay Samsung, and I would be somewhat ok with that..
Regarding the performance shares. They clearly won't have BTD by July 28. We are enrolling new patients now, but I think we know we need some numbers before going back to the FDA. The question is whether part of the new 100m share authorization is earmarked to renew performance shares with a later expiration date. I strongly suspect it is, and I won't be happy about it. You can argue the current progress means they earned it, but I never thought they should have had those incentives in the first place. Their incentive should be to raise the share price on the millions of shares they already have. I also believe that Nader's/Kelly's sale/reinvestment last month came with some sort of handshake deal with the board that they could recoup those shares in the future in exchange for the sale to pay Samsung, and I would be somewhat ok with that..
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