Ann: Letter of Intent from Pendula for NBIO, page-7

I honestly doubt any improvement.

In my opinion the board have been ineffective. They should have removed Jeromy Wells as CEO many years ago. I believe he has eroded all value in the organisation. There were so many signals leading up to this point, such as the revolving door of executives, the lack of innovation in the product, the go-to-market failure in the US.

I cannot imagine the company looking attractive to any prospective CEO at this point. An acquisition is inevitable.