I'm a new investor here, but in biotech's for decades, I'd like to ask how many here have actually participated in preparing a submission to the regulators for approval. I certainly haven't, but I've seen it happen in a few other companies and if there is one thing they all have in common, it takes a lot of time.
I doubt if Missling is doing much himself, other than administering his staff, and contractors he's hired, to get it done. A new CEO could do very little that's different. NWBO recently submitted to the UK, they made the mistake of saying it would be done by a date specific, then twice had to delay, largely because contractors, who they couldn't completely control, just needed more time, and on review some changes were recommended. It's far more important to make such a submission right than making it quickly.
The CEO essentially always gets the blame, or the credit, for what a company does, but in reality they have little they can do beyond establishing a capable staff and funding them to do their job. Change CEO's and you still have the same staff and the same funding needs. I'm not saying Missling's perfect, he's not, but replacing him would probably create more delays than it would accelerate developments. Every biotech but one I've owned complained about not getting enough information from the company. The one that didn't, CVM, I now consider a scam as when I invested decades ago they had one drug that they claimed would be the answer to AIDS and they even made the company symbol HIV until they failed there. Since that time decades ago they've promoted Phase 3 Trials against all sorts of different diseases, all with the very same drug. In short, they have a cure in search of it's disease. You really don't want a company that operates as they do.
The MAA submitted to the UK by NWBO was 1.7 million pages, and they already had approval for manual commercial production of their vaccine. I don't know that our filing would be nearly that big, but regardless, it's massive and it needs to be done right. Don't make it sound like all they need to do is change CEO's and it can be finished in days, weeks, or even months. The only way that could be true is if it was already at the point that it would be finished at essentially the same time.
Gary
Bullish
