@winsol are you concerned about the management in the development stage or the commercialization stage?
I think the main faults of the management at this stage are the ridiculous delays in trials and reputation/marketing of the company which are valid concerns. Capital management has been decent as they have managed to stretch out what they have so far. The delays to the trials can be blamed on management but there have been other issues such as regulatory timeframes, finding monkeys etc. which all small biotech companies face. Reputation/marketing has been the biggest issue IMO as we have spent money on salaries, events etc. which have made no difference. Realistically though, if they were successful at these things the SP wouldn't be much better (probably around the 10 cents mark) as it is a speculative long term stock that won't see immediate results.
So that leaves us with management in the commercialization stage. Let's say that the science is correct, they sell the drug overseas and have an annual turnover of $2b+. What would you say is a reasonable valuation of the company? Add on a premium to buy the company out and what type of SP would we be looking at? If the trials come back positive than we go straight to commercialization, the management will become irrelevant.This is all my opinion so you should DYOR. Maybe I am a naive idiot but I like to think I am realist when it comes to these things.
