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06/09/16
10:46
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Originally posted by wcamp32000
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I know that many of the people who are calling for the heads of management are merely paid bashers who've been hired to keep nailing boards on the villa of diminished expectations. But since a few COULD be sincere, it might be worth mentioning
1) Decisions made by management concerning previous trials were made under the advice of the BEST minds in the field based on the BEST information available at the time. The fact that it does not seem so now is a testament to the progress in the field.
2) If you invest in biotech you come to realize that trying to get things to follow rigid timelines is like trying to nail jello to a tree. It ain't easy.
What we are seeing here is NOT that unusual. Am I happy? NO. Do I think that taking the extra time will be worth it? Yes. That's why I'm still here.
3) If you are angry about delays, the focus of your anger should be the FDA. Sometimes they err on the side of caution, but sometimes caution can be a smokescreen for corruption. I don't know that this is the case here, but when Harry Markopolos testified before Congress concerning the Madoff scandal, he was asked if he had seen corruption and incompetence in any department of the federal government to match that which he had seen at the SEC. He said, "Yes, at the FDA."
4) My spirits are still buoyed by the good people who are working tirelessly to help improve the lives of patients suffering from these terrible diseases. Patience.
JMHO, of course.
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Wcamp. I am not a paid basher but a concerned shareholder. I
Originally posted by wcamp32000
↑
I know that many of the people who are calling for the heads of management are merely paid bashers who've been hired to keep nailing boards on the villa of diminished expectations. But since a few COULD be sincere, it might be worth mentioning
1) Decisions made by management concerning previous trials were made under the advice of the BEST minds in the field based on the BEST information available at the time. The fact that it does not seem so now is a testament to the progress in the field.
2) If you invest in biotech you come to realize that trying to get things to follow rigid timelines is like trying to nail jello to a tree. It ain't easy.
What we are seeing here is NOT that unusual. Am I happy? NO. Do I think that taking the extra time will be worth it? Yes. That's why I'm still here.
3) If you are angry about delays, the focus of your anger should be the FDA. Sometimes they err on the side of caution, but sometimes caution can be a smokescreen for corruption. I don't know that this is the case here, but when Harry Markopolos testified before Congress concerning the Madoff scandal, he was asked if he had seen corruption and incompetence in any department of the federal government to match that which he had seen at the SEC. He said, "Yes, at the FDA."
4) My spirits are still buoyed by the good people who are working tirelessly to help improve the lives of patients suffering from these terrible diseases. Patience.
JMHO, of course.
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Wcamp. I am not a paid basher. I believe my concerns are justified. Not having different people in the roles of Chair and MD is an investment risk. Communication to shareholders has been abysmal. Timelines have been missed with no explanation. You seem to imply that Prana is full of good people and the FDA is corrupt. I tend to take things at face value - that the FDA has some concerns which have not been addressed by Prana. I think its the job of Prana to communicate what the problem is and the cause of the delays, how long they will persevere with the current approach and what are the options going forward. They are the entity that is publicly listed with a responsibility to its owners. Unless Kempler and the Board has complete control I would have thought that some major shareholders would be starting to ask these same questions.