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Posted On: 10/04/2021 1:12:26 PM
Post# of 148901
Posted byu/jumpinthewatersdeep
just now
Np - Hero or Villain?
Waxing Poetic
There has been months and months of posts claiming NP to be either a villain, stealing company funds and mismanaging everything from staffing, to trials, to financing, to his compensation and on and on and on. Having only been long this stock a little over 18 months, I do not have deep knowledge of things going back five to seven years or more.
It does appear a case can be made that NP was able to negotiate an outsized TOTAL compensation package by virtue of a compliant BOD. As has also been intoned, it is the bonus structure that made his package questionable. An independent BOD would solve that issue quite easily.
NP has made significant changes in staffing and in consulting agreements over the years. Most of what I have been able to gather is that for the most part, he moved people out that advocated for direction changes he disagreed with and when people were not able to deliver when he counted on them to do so. Yes, he makes pronouncements based on what he is led to believe will happen. This is great if expectations are met, not so much when they are not. Trials have been late, results muddled, filings made with errors and more. He shakes it off and finds a revised path. one that looks as more promising. Some of us appreciate that passion, others not so much.
Lately it is the drum beat about the Fife loans. Over this past weekend, it was declaratory statements about the Ziff IB offer of financing. I cannot find confirming details either way, but it is standard practice to secure this type of financing with the assets of the company, in our case it would have necessarily been our molecule. NP rejected that offer and the Fife financing is now coming under serious scrutiny.
Rejecting the Ziff IB financing is equally responsible for us even being here today as shareholders as is the rescue of our molecule from what very well could have been its place of permanent slumber on a dusty old shelf labeled "Abandoned Bio Tech" IMHO.
just now
Np - Hero or Villain?
Waxing Poetic
There has been months and months of posts claiming NP to be either a villain, stealing company funds and mismanaging everything from staffing, to trials, to financing, to his compensation and on and on and on. Having only been long this stock a little over 18 months, I do not have deep knowledge of things going back five to seven years or more.
It does appear a case can be made that NP was able to negotiate an outsized TOTAL compensation package by virtue of a compliant BOD. As has also been intoned, it is the bonus structure that made his package questionable. An independent BOD would solve that issue quite easily.
NP has made significant changes in staffing and in consulting agreements over the years. Most of what I have been able to gather is that for the most part, he moved people out that advocated for direction changes he disagreed with and when people were not able to deliver when he counted on them to do so. Yes, he makes pronouncements based on what he is led to believe will happen. This is great if expectations are met, not so much when they are not. Trials have been late, results muddled, filings made with errors and more. He shakes it off and finds a revised path. one that looks as more promising. Some of us appreciate that passion, others not so much.
Lately it is the drum beat about the Fife loans. Over this past weekend, it was declaratory statements about the Ziff IB offer of financing. I cannot find confirming details either way, but it is standard practice to secure this type of financing with the assets of the company, in our case it would have necessarily been our molecule. NP rejected that offer and the Fife financing is now coming under serious scrutiny.
Rejecting the Ziff IB financing is equally responsible for us even being here today as shareholders as is the rescue of our molecule from what very well could have been its place of permanent slumber on a dusty old shelf labeled "Abandoned Bio Tech" IMHO.
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