Chong is not a bona fide CEO she is a drug developer as such the commercial aspects of running a listed company are beyond her capability.
Sure Chong claims to be "frugal with money" and that is just another dose of Leslie speak which SH should be wising up to by now, "frugal with money" should be interpreted in the same sense as a retiree budgeting to live on a pension, she knows the basics, but not what is required by a CEO of a listed company to operate and tap into Capital markets which Hopper is attempting to mentor her on.
Despite the "performance" put on at the recent Webinar, SHs did not get an honest introspection at least from Chong.
"…it was very difficult to raise money we had to go more bridge to bridge investment this created a lack of trust in the market because if you raise just a little bit everybody knows that after three months or four you are there again at the lower price, so its not been easy but we kept working and advancing our molecule and we were able to build some credibility in the market, Lantheus in the pharmaceutical market Lantheus was attracted by this possibility and as a major shareholder has the possibility with their option of becoming the number one shareholder of the company and now we have the funds we will just keep working and executing……"
Some may point to RAD's SP and say it is nothing to envious of. But when you have the backing of a US$7B player in the hottest sector of Pharma paying 150% premium to be your major shareholder and who CEO states "...the whole company does look interesting. They've got a very nice portfolio in development. But our significant investment is really not that big in reality. It's kind of a foot in the door to stay close to them and support them. And we're going to stay close to them. We like the management team. We like what they're trying to do, and we want them to be successful. And if more reasons evolve to partner, we'll continue to do so." Q4 2024 Lantheus Holdings Inc Earnings CallThu 27 February 2025 at 2:35 pm AEDT
Credibility in the market is not the problem, your pipeline is not the problem and your management team are not the problem when a BP player is saying this publicly. The SP can in this case be a refection of geopolitical and market factors.
IMU without the backing of a major pharma player by either a direct investment or an asset deal will continue on this "bridge to bridge cycle" and continue to suffer from a lack of trust and credibility in the market regardless of their achievements, and without funds their potential will wilt on the vine. One must ask has Chong the connections, savvy and charm to bring in such as backer ?
Great management can get average products to patients Average management will fail to deliver great products to patients
IMU Price at posting:
2.4¢ Sentiment: None Disclosure: Held
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