Biotech Values

[DewDiligence]

HEB’s insiders are looting the company:

While pumpers are mindlessly pumping HEB on various message boards, officers and directors have been engaged in a game of their own: systematically looting the company to the greatest extent possible. Last week, without even waiting for FDA action on the Ampligen BLA, HEB paid the CEO a $300K bonus and the CMO a $150K bonus (#msg-38179694).

The BoD had the audacity to grant these bonuses despite the fact that HEB cut the salaries of its non-executive employees in Jan 2009. Despite the fact that the CEO received more than $1M in compensation in 2008. Despite the fact that the CEO received almost $3M in compensation in 2007.

Want more? HEB pays each non-employee director $150K per annum merely to attend board meetings! You can find these and other details in the recent DEF14A filing: http://sec.gov/Archives/edgar/data/946644/000114420409029059/v150612_def14a.htm .

I shudder to think how much insiders will pay themselves if by some miracle the FDA actually approves Ampligen.