Tuesday, April 18, 2017 5:56:15 PM
The most important part of the call to me was learning that Tony C. is now firmly in charge, and Pourhassan has been relegated to a subservient position.
I have confidence in Tony C. being able to lead this company, whereas I had (and have) no confidence in Pourhassan.
Tony C. was well-spoken, and gave investors the straight facts. While some of the facts were less than what was hoped for, such as the need for $60M+ in financing, denial of BTD, and a delay in filling the Phase III combo trial, other information provided was encouraging.
For one thing, Dr. Burger said he was confident in getting BTD for PRO-140. I have spoken to Dr. Burger in the past, and found him to be both highly knowledgeable, and a straight shooter.
In addition, Tony C. intimated (as much as he was able to do so) that he was confident in approval of PRO-140, both in combination with other HAART drugs, and as monotherapy.
Although that too was Pourhassan's party line, coming from someone with Tony C.'s background and experience makes it more credible.
The bottom line for me is that this company is now being led by a pro, instead of an amateur, and this pro knows how to get clinical stage drugs such as PRO-140 approved by the FDA.
Yes, Tony will have to clean up Pourhassan's mess. And yes, Pourhassan left investors with a bad taste in their mouths from his past missed projections, and other bad decisions.
However, in the end, PRO-140 either works, or it doesn't. And I am confident we now have the right person in charge who gives us the best chance of getting this monoclonal antibody across the finish line.
LM
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