Biotech Values

[ghmm]

I voted for names on the list but my vote would have been for Altus's former CEO Sheldon Berkle. While most of his damage was prior to 2008 and the company was small enough that his destruction of Shareholder Value was not as high as large companies listed. He basically ruined Altus ever becoming a real biotech. There are numerous things to fault him for I'm probably forgetting several but going by memory:
1) Having not 1 but 2 partnerships terminate under his regimin.
2) Having numerous staff lead including the found of the technology the company is based. Who left (my sense in disgust) and started another company (Alexey Margolin, Alnara which is currently private).
3) Having numerous manufacturing issues with both lead programs. Delays 2+ years in 1, 1+ in other.
4) Probably designing the Tryztek trial faulty. While we can't say for sure I highly suspect the drug works but somehow they managed to botch the Phase 3.
5) Wasting money to excess, such as hiring a head of sales a couple years before product approved (I believe she has since resigned).
6) Promising and failing to deliver on time lines. In addition to the above mfg delays. The preclinical candidates where supposed to be out of the clinic end of '07 I believe (perhaps even earlier).
7) Stock peaked in the 20's was in the 5 range after Genetech bailed and now is in the .50's while he left before the latest drop the Tryztek failure is basically due to mistakes under his reign. so he had about a 95% drop in stock value.