Can you say GOLDEN PARACHUTE?
From the 10Q:
"Jean-Pierre Sommadossi, Ph.D., resigned from his positions as chairman of the board of directors, president and chief executive officer on October 28, 2010. In connection with Dr. Sommadossi's resignation, he will receive severance payments of approximately $2.3 million, an option grant of approximately 330,000 shares and acceleration of all unvested options. The payment of the severance benefits, the option grant and acceleration of all unvested options are subject to Dr. Sommadossi executing a release on behalf of Idenix."
As we so often see, Sommadossi was paid off(that is putting it lightly) to get him out of the way. The big question now is who's way and who is really running the ship? Novartis? The new placement money? The CFO and the BOD and their ideas?
The saga continues......
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