strategic review - what to be reviewed first?

PAB says the new CEO will lead a strategic review of the Company's operations, exploring opportunities to strengthen the Company's development portfolio and focusing on investor relations.

IMO, the first area to be reviewed is the Company's value. It seems that the management have attached a lot of importance to the value of research and new technology while not valuing the importance of the market where the Company's research work and products are recognised and investors get decent returns on their investment. As a result, the investors' confidence and patience has now almost been exhausted and the Company has nearly lost its ability to raise further capital from the share market, which might be vitally important for the Company's survival and future development.

For a successful biotech company, the critical success factors consist of not only the true value of its technology but also its ability and willingness to leverage all social resources on the market to ensure its commercial success. It is time for the new CEO to transform this research-based company from a "research institute" to a market-oriented business entity, financially and spiritually.