SJ, Puma was trading around $25 per share, down from the $180-$200 it had been trading at before their phase II woes were made known, when the announcement of their FDA approval was given and the stock jumped around $75 in just a few days to over $100. I use PBYI as a comparison because their management, at one time, looked very similar to BioPath's and they licensed their drug, Naratinib, from a pharmaceutical company for development. Despite their phase II challenges and the horrific side effects they kept the share price at around $25. They kept their shareholders and the market informed of their challenges and what they were doing to mitigate their problems. The experience of their management in the industry paid off handsomely for them even though they were only granted restricted usage.
We should all understand that none of us knows for sure what BioPath means when they say "...we are on track to have 19 patients completed by the end of the year." What does that mean? Who would know?!! Not even the Shadow knows for sure! The way they have phrased their progress they could mean, (1) 19 patients are enrolled in the study, (2) 19 patients are enrolled and dosed, or (3) 19 patients are enrolled, dosed and the data has been compiled, reviewed and a report has been submitted to the FDA with a request for accelerated review and approval. I think we all hope they mean no. 3, otherwise there could be significant delays ahead.
WE HAVE TO HOLD BIOPATH MANAGEMENT ACCOUNTABLE! I get really uncomfortable when management talks in generalities, especially after they have made it very difficult for the owners of the company, the shareholders, to take action against the management if they miss their committed deliverables.
