Richard's reason for departing is not the most important issue. He was CSO for 5 years and set the wheels in motion for where we stand today. A whirlwind of circumstances meant that he failed to achieve the cut off dates for his options. How much of the delays were due to his direct management? We may never know. The delay in pill production has set everything back by 6 months. Given his relationship with Syngene I think he was seen as the fall guy.
I regard the uninterrupted continuation of work on the current projects as being paramount to a successful outcome. It is now at the stage where a dedicated CSO on a high salary may not be the optimal choice.
Things are at a delicate point where the strategy going forward without Richard is still being determined. We see that when Colin departed Epichem his replacements were announced soon after. But the research is still continuing albeit by outsourced bodies.
I would certainly welcome some input on this forum by a member of the Board to clarify matters for us all. Or at least a Q&A session where they can explain why there are particular items they are not at liberty to disclose.
PAA Price at posting:
8.6¢ Sentiment: Buy Disclosure: Held
(20min delay)