Viropro, Inc. (VPRO)

[TrueStory]

My nickname is TrueStory because I'm near enough of the former and new mangement of this company to give you the real situation of this company i.e. the true story.
First fact: Claude and Rajiv have left the company because of some "misunderstandings" with Cynthia. The main disappointment of Cynthia was that Claude never could bring the company fully reported and that the president let this situation happen for all this time. Whether you're for one side (Claude and Rajiv) or the other (Cynthia), you have to admit that Cynthia is right on this one.
Second fact: Claude, as the CFO, since he's not an accountant, never could do what was needed to make the company current. Is it because of him, the accountants, other people, we will never know, but one thing is sure, the company have never been current while he was in charge of this. Whether you're for one side or the other, this is a fact. Cynthia is right again.
Third fact: Rajiv, as the president, let this happened and also didn't achieve too much since the last 2 years. The company is full of debt, almost no revenue and he didn't execute a minimal part of his own business plan. Not too many success on his side, neither. His main achievment was the Spectrum deal and look where it is now. Cynthia is right again.
Now, Cynthia...for those who say that she's no good because her job was to raise capital and she's done nothing up to now are maybe a little bit too fast in their judgment. She had a real good reason and I agree with her. Would you invest money in a company that can't even file its financial statements for so long? Guess what was the answer that she has got from all her potential investors. Also, would you raise capital for a company in which you have lost confidence in the management? But be careful, she has a lot of contacts all over the world. Give her the time to show what she can do. Now, she runs the show, she won't have any reasons.
Fourth fact: I spoke many times with Cynthia, I even met her and I can guarantee you that she speaks exactly the language that I want to hear as a major investor of this company. I was quite discouraged with the company not too long ago; since I spoke with her, I'm a lot more positive. She wants to bring the company to the level we want it to be. I'm a business man and she's the kind of person I want at the top of a company I've put tons of money in.
Fifth fact: She knows exactly what to do and she knows what the priorities are. The Q3 was her first priority, it's delivered. The Year End is on its way, that her priority. Her other priority, building a new team (since she knows pretty well that she's not the right person to take care of operations, she's not hanging to her job) and, on top of all those, raise some capital.
Sixth fact: She already started working hard. Chuck15 was right, there are some big guys around the company already. She already met some big guys (both candians and americans) and everyone showed a lot of interest. She has met lots of people; some for the job of President, some for the board and some other for financing and he good news is that NONE of them has shown NO interest, thay all have a certain level of interest.
Seventh fact: Yes, the Spectrum deal is dead, not a rumor, but not because of any failure in the work that has been done but because Spectrum changed his mind and lost confidence in the future of the Rituximab sales over the next 5 years. On the other hand, Intas is doing pretty well with the cellular lines for the same Rituximab that Viropro delivered to them a few years ago. They are preparing to go to Phase III trials. That shows that Viropro works are very efficient; there is not only Spectrum in this world. Also, Viropro have other products, don't forget.
So let's give the time to the company to rebuild itself and over the next few months, our patience could be rewarded big time. This company has huge assets, it's got to be a winner. There's no guarantee that Cynthia will succeed, but I'm very confident that she will. At least, the last facts are: she's doing everything she can to succeed and she has the same interest than us.
Any questions, come back to me...if I know the answer, that will be the TrueStory...I never post something I'm not 100% sure that it's true.


For the Intas trials, take a look at:
http://www3.bio.org/bioindia-profiles/pdfs/164996.pdf