worthless now, page-22

What an outrageous announcement; disingenuous and conniving at the least; misleading and criminal at worst. We are told that they can’t be bothered to look at the clinical data, because the receptor they think is PROBABLY (sic) the one which binds ACV1, doesn’t seem to bind the molecule as previously thought. Now if they knew this all along, then why did the trial proceed at all, and if they didn’t find this out until the recent trial was underway (or indeed complete) then why not reveal the actual data from the trial? I’ll tell you why; because they know they’ve botched the trial, and wastefully poured more money down the drain on poorly thought through, and even more poorly executed drug development. How does their CSO (and erstwhile CEO) Belyea keep his job after this, his third fiasco on the trot?
The “oral peptide delivery platform” is clearly a scam; please be careful of buying into this; where are the publications in refereed journals? Where are the issued (or even submitted) patents? Eighteen months to clinic; astonishing…
Heads must roll here, blood must be spilt, and not from sacrificial lambs; the board must point to those who are responsible for all of this; specifically the lavishly paid and underperforming CEO and CSO. What is worst here is the $18M or so left in the kitty is going to be squandered on rubbish science, by fools who have failed at every turn. In my book, that $18M is probably only worth $9M, discounted for crap management, and incompetence. All this sort of thing gives biotech a bad name.