Dane, welcome to the club. I’ve been accused of
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Posted On: 01/02/2019 9:24:47 PM
Dane, welcome to the club. I’ve been accused of being ‘swampy’ for having the audacity to question Leo/IPIX. For example, some will never criticize Leo for the Prurisol trial here. Heck, someone even defended the failure by saying the trial was probably sabotaged.
The interim analysis was delayed from Q1 2017 to Q2 to Q3 to canceled. But the cancellation wasn’t explained publicly. One only found out why if you read the private reply from Leo to Cabel over there. Then the topline result was delayed from Q1 2018 to Q2 to Q3 to Q4. Leo listed it as a potential millestone in Q3 knowing he didn’t have the money to pay for it. We never knew money was an issue until we read it in the 10-K. Finally Leo waited to announce the trial failed in the same day as the B-OM EOP meeting news. But the announcement was in an 8-K, not in a PR like more companies would do. I think shareholders deserve to know more stats such as how the 300mg and 400mg arm did.
I was extremely disappointed not because P failed (I understanding biotech is very risky and trials are more likely to fail than succeed), but because the way Leo handled it. I felt like I was always in the dark about the trial status. It was as opaque as one can be when it comes to being transparent to shareholders.
The interim analysis was delayed from Q1 2017 to Q2 to Q3 to canceled. But the cancellation wasn’t explained publicly. One only found out why if you read the private reply from Leo to Cabel over there. Then the topline result was delayed from Q1 2018 to Q2 to Q3 to Q4. Leo listed it as a potential millestone in Q3 knowing he didn’t have the money to pay for it. We never knew money was an issue until we read it in the 10-K. Finally Leo waited to announce the trial failed in the same day as the B-OM EOP meeting news. But the announcement was in an 8-K, not in a PR like more companies would do. I think shareholders deserve to know more stats such as how the 300mg and 400mg arm did.
I was extremely disappointed not because P failed (I understanding biotech is very risky and trials are more likely to fail than succeed), but because the way Leo handled it. I felt like I was always in the dark about the trial status. It was as opaque as one can be when it comes to being transparent to shareholders.
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