DFRAI,
I used to own ONCY several years ago, and grew disgusted at the incompetence, ignorance and or less than honest comments by the CEO at the time Brad Thompson. After I had bought ONCY, it came to my attention that Brad Thompson had given a public (print) interview about Reovirus where he stated that he expected Reolysin to be approved in about 18 months. I believe the interview was in 2001, but the key point is that Reolysin had just begun or was about to being its first phase I testing. It is the height of dishonesty, and or ignorance for a CEO to claim any oncology drug, let alone a live virus, just entering phase I trials would be approved less than 2 years later. I almost sold on the spot, but held on because I liked the viral approach. Over the next few years, I watched as Brad Thompson made comments on Reolysin time lines that were always way too optimistic, so the ONCY never came close to realizing them. He also made comments that were very overly optimistic to the point of misrepresenting some results. After watching this for several years, I sold off at a minor loss.
Is Brad Thompson still the ONCY CEO? I don't know if the Reovirus approach will ultimately be successful, but if it is it will be in spite of having Thompson as the CEO. In any event, I have no desire to invest in any company in which I don't trust the CEO.
AI
