Although not a holder of PAB, I have followed the stock for a long time. Just a few observations and points to ponder.........
(1) At the last AGM (end 2014), WHY did the shareholders not make sure that the Chairman was voted off the Board? The voting was close (but then the largest shareholder sits on the Board and was eligible to vote!)..............this Board needs to be spilled. They were useless before even when the Company had a CEO but now without a real CEO, they are even worse and clearly don't have a clue.
(2) The senior management is definately under-qualified. How many Companies out there are running cancer clinical trials without a CMO or a CEO that has some medical background? One thing saying the clinicians in Germany are intending to run the trial but the trial is, ultimately, Patrys' responsibility and they don't have the in-house expertise.
(3) Why is there not someone senior and qualified sitting in Europe running operations and coordinating the German clinical site? There is no way, surely,that this can be done efficiently from Australia. Where are the decisions being made??
(4) Manufacturing of complex antibodies obviously requires a lot of coordination within the Company and communication amongst those in Germany, those in the USA (where SM6 is being made) and those in Australia who think they are in charge. Question is.....................what are relations like between these various parties? With no real CEO on board, who is making the critical decisions about the manufacturing?????
Such a pity on this one...great potential, great science and very promising past clinical data with SM6. Now they have no leadership from either the CEO or the Board. Many of you critisiced the previous CEO but she got SM6 produced on time, she got the MM clinical trial started and finished on time (and the data was good!) and had the other programs moving along well. Not to mention getting Amgen involved with the Company.
If I had shares, I would be selling out fast.
PAB Price at posting:
1.2¢ Sentiment: Sell Disclosure: Not Held
