Biotech Values

[biomaven0]

>>The CFO gave 6 months notice... hardly a "get me the hell out of this company and get me out quick"...

As I posted on SI, I wouldn't be surprised if he got freaked out by having to deal with the last earnings report under what I could well imagine to be time pressure. He's not a CPA, this seems to be his first real public company CFO job, and for the recent earnings report he had to deal with a very complex accounting issue - the company reported (correctly, I now believe) a large gain in basic EPS and a large loss in diluted EPS - that's the first time I've ever seen something like that.

(This weird discrepancy in EPS resulted from a clashing interaction between liability accounting for their warrants and the somewhat ambiguous diluted stock rules. Basically the warrants ended up with liability accounting for basic share reporting and equity accounting for diluted share reporting. I can explain further if anyone cares.)

Peter