Yes, at face value, amarex looks great. However
Post# of 154977
(Total Views: 662)
Posted On: 04/16/2022 9:47:25 AM
Yes, at face value, amarex looks great.
However, as I wrote about before, my due diligence on ax was my biggest failing in this investment. I assumed that they were experienced and competent in BLA submissions. After this thing blew up, I took a deeper dive. They are not experienced in BLA submissions for drugs.
What they are good at is the early stages of IND submissions and early stage trials. What they were trying to get into was later stage trials. NP was essentially helping them get into later stage work. In other words, we were the guinea pigs.
That does not excuse their incompetence, as they have proven to be utterly incompetent in this area. But there is also blame for management choosing and expedient route versus a proven and prudent route. I do think that NPs relationship with KK was a significant driving factor. The other factor was that amerex was relatively friendly in their payment terms. We regularly paid them late and they were okay with that.
Unfortunately, the confluence of those two streams of inexperience have cost us shareholders dearly, not to mention all of the patients that could have been treated.
However, as I wrote about before, my due diligence on ax was my biggest failing in this investment. I assumed that they were experienced and competent in BLA submissions. After this thing blew up, I took a deeper dive. They are not experienced in BLA submissions for drugs.
What they are good at is the early stages of IND submissions and early stage trials. What they were trying to get into was later stage trials. NP was essentially helping them get into later stage work. In other words, we were the guinea pigs.
That does not excuse their incompetence, as they have proven to be utterly incompetent in this area. But there is also blame for management choosing and expedient route versus a proven and prudent route. I do think that NPs relationship with KK was a significant driving factor. The other factor was that amerex was relatively friendly in their payment terms. We regularly paid them late and they were okay with that.
Unfortunately, the confluence of those two streams of inexperience have cost us shareholders dearly, not to mention all of the patients that could have been treated.
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