Mast Therapeutics Inc (fka MSTX)

[ExPatriate57]

Chris,

From Brians Forbes profile:

He received a B.S. in biology from Boston College, an M.S. in biochemistry from the University of California, Santa Barbara and an M.B.A. from The Johnson School of Business at Cornell University with an emphasis on private equity and entrepreneurship.

http://people.forbes.com/profile/brian-m-culley/1758

Unfortunately, because I was using this as a short term trade (based on the FDA 514 meeting and pending 530 NDA filing acceptance), I hadn't done the proper in-depth DD on managements background.

Now that I have... this doesn't surprise me in the least.

Icahn, Kostas, Culley... they're running this like a PE venture that's funded through a public offering with the vast amount of shares in "weak hands"...

... guess what? They're right.

I expect this management team to do nothing organically (look at the three named individuals backgrounds) they'll use every success as a way to raise capital to fund new acquistions/expansion.

I just wish I'd have known this before this past week. My bad.