Friday, January 10, 2020 1:39:17 PM
https://finance.yahoo.com/news/open-letter-organovo-shareholders-organovo-130000809.html
This is nothing short of crapping on your investors.
This is how a court or a judge would look at it:
I thought ONVO was a bit early for its time, but a highly innovative idea. The FDA would have never approved this until at least 10+ years passed. That held me back in 2014 from investing.
Nevertheless, Mr. Murphy, you have harmed your own reputation for any future investors to trust you. Any VC firm will think, "If he did that to ONVO, what will he do to us if the investment doesn't work out?"
As an investor, I always review board members and senior management. I will steer well clear of any company you are involved with, regardless of the financials.
How dumb was that press release? Any investor can now sue the pants off of Murphy for that press release. Organovo itself can sue Murphy. Murphy now ends up taking now the blame for what he accuses others of. Murphy's hubris makes him his own worst enemy.
And the PR Agency, Little Dog Communications Inc., WHAT WERE THEY THINKING WHEN THEY SIGNED OFF ON THAT? Did Jessica Yingling read what they published? Do they have any sense of both the fiscal and reputational impact such a press release has? Not only does it harm ONVO, but it shows Murphy's ignorance, incompetence, and lack of ethical judgement. I also reflects the same to Little Dog Communications, Inc.. Little Dog seriously hurt their own reputation as a PR Firm. Any biotech firm with a brain would stay well clear from Little Dog going forward.
A real P.R. agency worth its salt would call the client and say:
That's what a real PR firm would do. Little Dog Communications and Ken Murphy are highly incompetent.
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