We are very lucky we have the products we have and we are lucky we have good scientists. Looking backwards, business management has been a failure in terms of track record of what has commercialised - that is really the only substance we can go on.
Looking forward, I believe most of us are all here because of the science before than the management. Now we have hopes that management are doing the right thing about mapping out the future and there are tidbits of info that give us this hope. I am quite upbeat on what I have heard from Jim Fox - I believe he has something to do with the change in thought/direction over the last 18 months or so.
I am personally looking forward to a US move and honestly am keen to see the change in CEO that will go along with that - PC completely frustrates me...
...a question about Directors buying shares as a demonstration of support was put to him and his response was that Directors can't simply just keep buying - like all of us, there comes a time when they also need to trade. I had no problem with that comment, but here is the kicker - his rationale for not buying was that when the time comes to sell, this would presumably be at a higher price, but Directors are bound by all sorts of rules as to when they can and cannot buy and sell and that the majority of the time when they might want to sell (at a higher price), they would not be allowed to do this (he used trading halts as examples). I hope this makes sense, but this was what I understood was his rationale for not buying.
The above question was put to PC on the way out of the room and I was totally flawed/flabbergasted with his response. I should have taken him to task at the time, but I was left speechless.
Now I am staying with Biota because I know that my patience will be rewarded in the long term and there are a few interesting changes expected in the next year, but I tell you what, my patience at the moment is being sorely tested by the attitude of the current CEO and his deputy.
BTA Price at posting:
83.5¢ Sentiment: Buy Disclosure: Held
