Other than (an in my opinion thoroughly justified) displeasure at him taking on the Chairmanship of another company, while we're in arguably one of the most important phases of our company's development ... I don't feel like Paul individually has been attacked at all since the fire-side slipups last December.
That said, I believe (and from interpreting the HC sentiment, some others are leaning a similar way) the broad leadership group as a whole (board & executives) could be doing a better job at communicating our operational performance and addressing expectations they've set themselves.
As an individual I'm happy with my 0.011% ownership of the company despite being down ~30%. Although I'd obviously prefer being up 30%, in the short term it doesn't worry me at all. I'm invested in Paradigm because I believe in 10yrs time the potential*likelihood of substantial upside is greater than the potential*likelihood of moderate downside. This is largely based upon what I understand of the science behind iPPS, the historical safety profile and the potential market (even if conservatively revised down) to name a few. The tremendous work that Mozz and many others in this community do to help collate, document their personal thoughts and prompt discussion/challenges is invaluable for anyone looking to understand the opportunity Paradigm is playing with.
However, there is a substantial amount of execution required between now and 10yrs time, and I don't believe it's unreasonable for shareholders wanting to be kept well informed of how we're executing against plan.
When we're achieving plan, we'll obviously be kept informed since everybody likes to share good news. But when we're missing plan, I want to know even more. Not because I as an individual can do anything about it, but because I want to see that our leadership team understand the problems well enough to articulate them to the market and have developed a strategy to overcome the challenges.
I can easily deal with 008's timeline being delayed (I've been having a 50yr old Datsun professionally restored for ~7yrs to date ... I have patience). But I want to understand why 008 has been sitting at 22 registrants for months.
Is it due to Covid, we're paused because it's too hard to keep tabs on our patients? ... If so, how does this impact the trial, do those 22 need to start again, are they still valid?
Is it due to supply? ... If so, how does this impact our other trials?
Did Dr. Bloom take 4mths leave to sail a yacht around Tasmania? ... If so, do we have another trial partner?
Is it due to something else? ... If so, how does this impact our plans?
I'd like the company to communicate this, speculation and guesses aren't particularly useful.
With my 0.011% ownership I have no expectation that the company panders to my wishes. But, from the last annual report >55% of the company is owned by holders with less than 500,000 shares. I'd be willing to take a stab that's predominantly retail. ... And I feel there is a growing frustration that could be easily mitigated with some more open communication about our current position.
PAR Price at posting:
$1.90 Sentiment: Buy Disclosure: Held
(20min delay)