Everyone makes bad investments. Despite VVUS having the best treatment for obesity, it really was not a real market as most results were complemented by diet and exercise. In addition, Qnexa was a combo drug of phen and topamax at low doses and could easily be replicated or compounded so no pricing power what so ever...
The drug works but add in some minor cardio issues and competition and the market could never take off as most docs tell you to shut your mouth and get on a treadmill..
That being said, a $27m loss is not great but basically can be made back for Denner if ARIA ticks up $2.25.... I think he is managing something like $600m.
In terms of his activeness, he appears in active but I can assume he has been battling with the entrenched team for over a year and only recently (last 6 months) has made any real progress..
I just wish he came out and said we are for sale (which I think they are but want a higher price) OR come out and say we rejected offers near $11 because we see the true value of our business, science, and drug development significantly higher than what the markets has put on us...
All you have to do is compare some M&A multiples and ours and say we can't justify selling at current levels given recent transactions in the space. Despite all the BS that happened with the BXLT bid, the stock should be at $9-$10.
Xalkori (Criz) just approved for 1st line in Europe....Hopefully, Brig data will be better.
I still say $14 gets is done today in a all stock or cash/stock offer...As I said, "THE SILENCE IS DEAFENING"
AI
