Some of the commets from the article from SA yesterday are worth reviewing:
You all seem to be forgetting that the company only did 2.3 million in sales last quarter and lost 60 million. Please explain how this company is a good investment?
Every company Jacob has managed - Pawfect Foods, Callisto Pharmaceuticals, Trovagene, and ContraVir - has been left a flaming wreck on the runway... after he has made millions from them. Synergy will be no different.
From John Crawford:
PS What most fail to realize is that the only analysts who follow Synergy at all are the tiny clique - HC Wainwright, their tiny captive research arm, Rodman & Renshaw, Canaccord, etc. who are their bankers. With the exception of the Citibank analyst, Liav Abraham, they continue to rate this dog a "buy" and promulgate outlandish price targets. So it's no surprise that they don't seem to anticipate the earnings miss. It's not that hard. I projected a loss for the first quater which was only $400,000 shy of the actual loss. For the most recent quarter, I again undershot slightly, projecting a $72.8 million loss compared to an actual loss of $73.9. (I forgot to take into account Jacob's $2.7 million stock gift to himself.) All that's required is an understanding of how expensive it is to launch a mass market drug. The worst thing that happened to this company was FDA approval, which forced them to bring the drug to market. Otherwise, they could have continued the charade much longer.
