I disagree.
1) there happens to be a pandemic, destroying the global economy and munching all healthcare resources, if you haven’t noticed;
2) this criticism is made of virtually every under resourced and small biotechs. Very few escape this and part of the reason is, if they were realistically pessimistic, they’d all die, very fast, ignominious deaths. It’s the nature of the beast to a large degree in this highly regulated field;
3) this is an entirely new product category having been through a multi country trial, with a very challenging trial. This was not fish oil. Coordination in the context of point 1 above also tends to be seriously slowed in that context;
4) they have to be very careful because, unlike an existing company with resources and other revenue sources, not only can acting quickly create problems, they tend to have many unknown frenemies, and when I say frenemies, I mean people who want what they have, will do absolutely anything to undermine them and destroy them, so that their own interested friends and allies can get rich on the freed asset. Most people call these interests shorts, but they are more like the people who wish you would fail miserably, so they can take your place.
In fact, I’d argue that a) big companies do not generally advance technologies that cannibalizes their industry, other than Apple, but especially not in pharma; b) big companies have resources to address most of those issues; c) when big companies do have similar delays, and they do, most of the time, there are no bulletin board critics sitting around all day with nothing else to talk about, about that large company, because they usually have a lot going on; d) it takes vision to launch a new product like this despite the attacks, keep it on track and invest your own resources when the naysayers refuse to acknowledge the accomplishments purely to advance their own interests, whether as mouthpieces for rivals, for purposes of trades, or just because they think they sound “smarter” by always being the most judgmental and insisting that no one is doing anything “right”.
Getting this done and published will by itself be a huge accomplishment, even if it were not a clear cut win. If it is a huge win, it will be despite incredible headwinds that persisted every moment for many years, to this day.
I’d actually say I’m quite impressed. Once they have resources they can decide what they want to do. But selling it just to get it off their hands is not the proper motivation for maximizing value, and management expertise is a commodity that can be easily hired upon success.
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