Absolutely agree. FDA was amateur hour. It was a foreign place that they hadn’t played in and assumed it would be easy. Should have paid for professionals to do it for them. Having said that, if they weren’t pursuing FDA and they would have been very profitable, given past performance and growth in revenue. I still expect that they will get FDA (I actually get the feeling that the FDA is feeling sorry for them and is providing guidance to help them). If they don’t they will have burnt a lot of shareholder money. CEO is at least incentivised for success, with a large holding that I think he had a loan from the company to purchase.
CYC Price at posting:
96.0¢ Sentiment: Buy Disclosure: Held
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