Re: AGM attendance
in response to
by
posted on
May 24, 2022 01:06PM
Great list chicagoest. It is always very helpful to me to be reminded of the potential for apabetalone and RVX. AND also important to be reminded of the downsides/issues to overcome.
I can't ignore the elephant in the room, and that is management incompetence. Incompetence in the failure to develop a strategy, failure to provide adequate financing, poor decision making regarding futility analysis and the decision not to partner with that BP on BoM2, the Saudi and African expeditions, failure to build a competent BoD, the failed Covid attempt while bringing in Eversana before they had an approved drug, and on the list of bad decisions goes.
Now we have an AGM with restricted attendance under the guise of Covid risk. Plus we have the vetting of questions in order control the agenda. Only an insecure and dishonest CEO would create such a senario. GUTLESS, as has been stated by another poster.
We've all spent the last 3 years tolerating complete abuse of forward looking statements. Has this man no shame?!
The employees must know full well about this situation. The only way I can make any sense of this is that Don was one of the founding club members, that the scientists and employees are happy and well compensated and that the club members get together for beers from time to time and toast themselves because they are determined to take apabetalone to market on their own, no matter how long and how much more dilution will occur. Hence the continued support of Don. Just a guess.
I see that Zymeworks replaced it's CEO and founder, Ali Tehrani with Kenneth Galbraith, an industry veteran. The stock is still trading at US$5.98 in spite of dropping 90% in value due to issue with it's two key cancer drugs. They have problems to work out but at least they have honest and competent leadership.
They raised US$107.5 million in a dilutive share offering. This sort of makes the Cdn$20 million that RVX needs to raise for BoM2 look paultry.
I'd love to see RVX trading at US$5.98 but that is not going to happen with the current management.
Long, strong and foolish.
Toinv