Must be a 50/50 call whether the next announcement is a deal or a further round of cost cuts. Both are badly needed.
They have way too heavy a cost base for what they are delivering. This is steadily eating into the remaining equity in the company.
It's a pity the entire board didn't go a year ago - a new team looking at this afresh after the FDA rejection would have slashed the cost base, at least preserved 20c of value, sold the IP for whatever they could get, and then found another deal.
Instead, current management have continued to live the dream and shareholder's equity is squandered on non productive salaries.
PXS Price at posting:
10.5¢ Sentiment: None Disclosure: Not Held
