I should note that I don't think that the effort made at VIAP was a failure. Of course, it also wasn't a big success... for investors. It was always a very high risk effort, and it seems that it was one that just didn't pan out.
What happened here was GOOD SCIENCE... which, unfortunately for share holders, generated some seriously good and important learning points about the issues they studied, which ended up showing that the state of the art in the science they had based their concepts on... was significantly incomplete... but didn't seem to generate much immediate potential for big new products and massive revenue.
Early stage drug research and development is a high risk affair. Here, the investors money ended up paying to generate scientific progress... not a blockbuster new drug, which might have resulted were they spot on in their entering assumptions.
It looks to me like they took a good honest swing at it and missed... not for lack of trying or lack of skill... and I don't have any problem with that at all. I didn't make any money here by holding VIAP shares... but, I count it still as one of the more successful failures I've seen and been involved with. This was a really good thing to have allocated and lost a little bit of the high end of the risk pool money on.
I hope they find a way to salvage the remnants that they can and make something of them. I hope they figure it out and solve the new puzzles in a way that lets them hit it out of the park on the next go... and hope those still holding now are able to benefit from that effort in the future...
But, for me, I'm going to wait to see if and how they intend to retool it and refocus it... before deciding that it is worth throwing any more risk $$$ at it. For now, it looks like the primary problem is a disconnect between past expectations and the reality of what they have and where they are... along with the reality of the market we are in. I'm not following the thread in the result from what they learned here in the science project. Until they are ready to talk about that... I don't see what ELSE there is to talk about ?
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