“In biotech land you really need to trust management or you don’t. It’s risky territory but I think cb will bring home the bacon.”
Oh, and on this I agree completely. Management needs to be trusted implicitly. With these biotechs if you don’t have great management then it’s virtually game over.
Up until recently I think they’ve done an extraordinary job in taking a generic product and delivering it to the world and in doing so delivering tremendous revenues for the company. Massive tick! More recently though my high opinion has become somewhat tempered. I think both founders selling at the same time, albeit for different reasons, was ill advised. Would have been far more digestible if CB had sold, siting divorce for the sale and then for the other founder to have waited a reasonable period of time before selling down himself. Bad, bad, bad!
My confidence was further diminished after the FDA rejected Pixclara, and subsequent to that was the TLX591 trial coding changes which I still don’t fully comprehend.
So now I still believe CB can turn things around if certain outcomes go our way but I definitely do not hold the same level of confidence that I once did to “bring home the bacon” any time soon.
TLX Price at posting:
$26.05 Sentiment: Sell Disclosure: Held
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