Seelos Therapeutics Inc (SEEL)

[jsbeach23]

Agree, it looks like it. Dorsey was at Somaxon for 6-7 years, a couple of years prior to Pascoe joining as CEO. Dorsey stayed on with Pernix (PTX) when they acquired Somaxon in March 2013, and Pascoe moved to APRI. After destroying Somaxon shareholder value to pennies, Pascoe likely owes Dorsey a favor for his wasted years at Somaxon and so gives him a place to hang out until his next gig.

Note that PTX hit the lows after Somaxon acquisition and has recently recovered this year after acquiring the migrane product from Glaxo in April this year. Their PPS performance has nothing to do with Somaxon's Silenor or other products that Dorsey may be managing at PTX. Not a home run by any means, especially relative to the mega expensive salary, bonus and 300K options package he is being given by APRI. No wonder Pascoe had to get rid of 2 VPs to pay for one C-level Dorsey position. Nothing seems like as it is laid out by the company's PR... else we would not be scraping the bottom of the barrel at record low PPS???