Friday, October 12, 2007 12:05:29 PM
In hindsight I do believe that the pipe was an indication of yesterday's outcome. I know our gamble was not with CX-717 but with the FDA. I just feel that Dr. Stoll had to know there was a much greater chance of rejection than this board did. Jim Haynes cetainly felt that way as well and was driven from this board. If all indications were good and a green light at the FDA and BP deal were eminent than there was no need for the cash. It is obvious now that this was not a "slam dunk" scenario. Certainly, the pipe safeguards COR from an unpredictable FDA but why was there so much unbelievable optimism by Dr. Stoll, Neuro and others here. The workings of the FDA need to be part of this CEO's repertoire. I doubt he was/is as surprised as we all were/are here. My hope is that he does have a conference call very soon and gets us up to speed on time tables and progress of future compounds and developments. My fears have to do with the burn rate and the possiblity of future pipes which will certainly deteriorate the SP. A lot of time and money has been wasted to get us to this point and Dr. Stoll certainly needs to answer to that. If this was somewhat expected then what have they been working on and what is our 12 month plan going forward?
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