5 years post FDA approval

With all that is going on with Clinuvel at the moment I forgot to celebrate the 5 year anniversary of FDA approval. What a 5 years it has been! The share price now is 50% less than prior to approval and 66% down on the euphoria of that day. At least we haven’t suffered any dilution!
We endured 4 years of Blijdorp threatening and bullying the owners of the company and listened to him tell us what a rare entrepreneur his good mate Phil was. He also told us that owning Clinuvel shares was much better than having money in the bank. ( That didn’t work out to be so true). He told us that the topical tanning product was very far along, 3 years ago! He also told us he wished to be reelected as a director to continue to serve only to resign effective immediately 3 months later. My observation that there was next to nil board oversight during this period.

We had promises of acth ( now not mentioned in 12 months), XP trials started but never finished, vitiligo trial started but no consideration given to previous learnings, soirées, CUVIP maestro, Mallorca ( never happened) , lady Gaga brought attention to a product that doesn’t exist, stroke trial with a new formulation and a strike trial with the old formulation. Mr Bull. Paediatric PK trial committed to 10 years ago now begun after EMA rejection. There are so many more highlights but you get the vibe.

Experienced investors will freely tell you that knowing when to sell is the hard bit. Clinuvel is an excellent example. It’s time for a new direction and new CEO. At least we haven’t had any dilution ( did I already mention that?)