Re: Finance
in response to
by
posted on
Feb 06, 2021 03:30PM
I fully agree with your final point CCD and mentioned it in a post a few months ago. No reputable analyst would risk their reputation on covering RVX because management is a joke and the way they manage, using the term very loosely, their finances is an even bigger joke. I still believe the science is remarkable, FDA BTD and the continued involvement of all the heavy hitters on the science advisory side as well accomplished in house scientists attests to this. It has however literally been years since management has been able to give any solid guidance as to how the company is going to pay for where they want it to go. How is a reputable analyst supposed to give any credible opinion on the prospects of the company? How are investors currently supposed to form any basis as to why they should risk any new money on the corporate fiasco that is Resverlogix. To me the latest presentation did absolutely nothing to improve this situation, just more excited talk but absolutely nothing concrete. It would almost seem as if they delayed a week just to give the impression they are really close to giving us something concrete.
When you look at the profile of other biotech CEO's vs Don's you see PhD's, MBA's and MD's along with deep big pharma/biotech and financial experience vs Don's profile which doesn't mention any biotech industry (or any other corporate) experience/track or educational record. An analyst can't even give a bit of credibility to RVX due to a reputable CEO being in charge so there must be something to this. When I asked Don a few years ago about analyst coverage he said he was meeting the next month with Doug Loe. In usual RVX form, all talk no result.
I agree with Cityslicker when he said that the quickest way to see some immediate share price appreciation would be to remove Don as CEO. I would add and replace him with a very credible, reputable biotech professional. This would be great both from an administrative perspective as well as from a corporate reputation perspective. Now would be a great time to do this as the sp, as we all know, is crap so you could probably get someone very good for less money than Don along with a few million options. For me as a shareholder I would feel much better about my investment in RVX if a professional with other biotech options stepped in and said RVX is where I'm going to stake my reputation/financial future right now.
Just as an example, someone here mentioned Trillium a while back. Jan Skvarka joined Trillium as CEO in late 2019 and his base pay is less than Don's. He arrived with a PhD an MBA and years of senior biotech/finance experience. He has done a great job of administering the company, the science has been very positive and the company caught a nice break when Gilead stepped in and paid big bucks for similar science at 47Science. I'm very happy that Jan Skvarka's options are now in the money to the tune of about $16 million. I'm happy because my shares have appreciated roughly 30 fold. I still hold roughly 80% of my shares because I think there is still is financial upside in the science and I think management is great. Back to RVX, it would be great if RVX could attract someone like Jan Skvarka because it would signal to the market that a credible biotech executive believes RVX is a big opportunity. Right now the only people who are telling investors RVX is an opportunity are the same people who have delivered investors lots of hot air and absolutely no financial rewards for many many years.