BC, you're right about my lack of knowledge, but Missling's specialty if finance in biotech, he's not a scientist developing new drugs, how can he be telling the scientists how to do their jobs. With four years of funds I've got to guess he's doing that side of the business fairly well, but developing new drugs and designing trials to test them is something requiring a different type of expertise. Others have said he's hired people well qualified to build the regulatory documents properly, if that's truly the case he needs to step back and let them do their jobs.
I believe that what you're saying about Missling is probably true for many CEO's, whether it's in biotech, or elsewhere. In general they're optimists and believe almost everything can be done faster than it is, and if they're called on to do something themselves they find out why. It seems like every job looks easier to the person who doesn't have to do it.
Nearly 4 decades ago IMGN's CEO was named Mitch Sayare. Mitch would often speak to investors, and even got in trouble with the SEC for posting on Silicon Investor, but when he said something would happen, it eventually did. Thing was, he often said it would be happening soon. In some cases soon turned out to be well over a year and posters discussing it all just spelled it backwards as NOOS. I did like Mitch, met him a couple times and spoke with him on the phone. Had he remained with the company I very much doubt that he would have sold the company at the price they obtained by rushing into a sale before sales revenue could build for their newly approved drug.
I think with approval it's possible that Anavex could become a buyout target. I would hope that they don't act to quickly and while profitable for all sell out too soon. I believe approvals of their products have the potential of earning billions annually, a market cap in the mid to high double or even low triple digit billions is very possible.
Gary
Bullish
