Friday, February 15, 2008 9:22:58 AM
Re Cox, specifics.
The finance deal, obviously.
It may well be the best that could be negotiated at this time, but that is irrelavent. They should have got the cash earlier.
As far as I can see, there has been no great surprise in the burn rate and the commercialisation schedule over the last couple years. So the cash issue was easily predictable.
You could argue that Cox and co. expected the partnership deal to take care of that, but if so he was taken a significant risk, delays happen in biotech.
When you need financing, do it ASAP. The longer you wait, the worse the deal is (as we now see).
As to remmidies, the deal is history. Going forward, I would hope that they have learned the lesson.
Due process? This is a message board, we perform verbal lynchings based on no evidence
BTW, I am not anti-Cox here. Clearly a failure at the senior level has occured, but I know nothing as to who was the culprit (but Cox gets the default blaim as captain of the ship).
The finance deal, obviously.
It may well be the best that could be negotiated at this time, but that is irrelavent. They should have got the cash earlier.
As far as I can see, there has been no great surprise in the burn rate and the commercialisation schedule over the last couple years. So the cash issue was easily predictable.
You could argue that Cox and co. expected the partnership deal to take care of that, but if so he was taken a significant risk, delays happen in biotech.
When you need financing, do it ASAP. The longer you wait, the worse the deal is (as we now see).
As to remmidies, the deal is history. Going forward, I would hope that they have learned the lesson.
Due process? This is a message board, we perform verbal lynchings based on no evidence
BTW, I am not anti-Cox here. Clearly a failure at the senior level has occured, but I know nothing as to who was the culprit (but Cox gets the default blaim as captain of the ship).
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
