Yes, they made a number of bad business decisions.
Post# of 72447
(Total Views: 297)
Posted On: 06/14/2017 2:59:11 PM
Re: someconcerns #34860
Yes, they made a number of bad business decisions. But really, the big problem was that initially the FDA's final review panel, which is usually just a rubber stamp for what the actual scientific review panel decides, instead REJECTED DNDN's initial application for approval of its prostate cancer drug Provenge -- entirely because one of the scientists on the final panel was working on a rival drug (and his project FAILED to meet the endpoints). It wasn't until angry potential users of Provenge, including people who were helped by it in the clinical trials, went to their senators that any progress was made. Senators announced that they'd be having a hearing about why it wasn't approved, and magically the FDA decided to take another look and approved it.
In the year that it took to do this, DNDN stock took a massive hit and, of course, people died needlessly. DNDN never really recovered from that year of not having income, and having to fight the rejection of the drug. And then they had trouble getting insurance companies to pay for it.
In other words, they got screwed, and also screwed themselves with bad decisions. Sigh.
And that "scientist" on the review panel who was responsible for rejecting the drug, for his own selfish purposes? Nothing happened to him. No consequences whatsoever.
In the year that it took to do this, DNDN stock took a massive hit and, of course, people died needlessly. DNDN never really recovered from that year of not having income, and having to fight the rejection of the drug. And then they had trouble getting insurance companies to pay for it.
In other words, they got screwed, and also screwed themselves with bad decisions. Sigh.
And that "scientist" on the review panel who was responsible for rejecting the drug, for his own selfish purposes? Nothing happened to him. No consequences whatsoever.
(0)
(0)