The RBC Conference presentation was actually a QA session with a well prepared, aggressive analyst who knows Ariad quite well. While probing strongly on what bits of the upcoming strategy Paris might reveal early, Paris wouldn't take the bait and added little to what we heard yesterday.
Paris said 'things are really moving ' at Ariad regarding his plan and his plan to get to the strategy,
- Max Iclusig revs
- Launch Brig in US
Plan to the plan - analyze
- Max near term revs
- Geographic reach
- Portfolio prioritization
- Cost efficiency – “lean biotech”
- Business development
Paris mentioned he might soon reveal a 'strategic deal that impacts costs' to get to a 'lean biotech' state. The interviewer took this to mean some sort of deal in Europe (presumeably to minimize Europe costs which are very high). The interviewer added that Wall street would not want to see any major partnership deal over Brig. The strategic plan will be revealed before ASCO.
On Portfolio prioritization, Paris appeared to say that Ariad has no other projects in the pipeline apart from Pona, Brig and '788, i.e. no new non-clinical development. Paris said he would prioritize aspects/programs within those 3 cost centers to focus on the best value drivers.
He also said he was working closely with the board and is in line with their thinking.
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My thought there was for the whole year last year, none of this thinking was shown by the board. We wasted the entire year with HB as a lame duck, check collecting, no-op. The waste of that time and money is disgusting....
The BoD overpaid themselves and the CEO, they breached their fiduciary responsibilities, they doctored their records and coerced and bought off their accuser...I want THE TRUTH!!!
