You could berate the majority of small cap biotech management in the same manner as the GERN management was today.
The system is a complete joke: at some point, probably in the go go 90s genomics era, salaries got inflated by a few companies. Then these ahole "salary consultants" got involved and started grouping peer companies together and comparing salries within those peer groups. So, you had everyone essentially basing their comp salaries off of everyone elses inflated comp salaries...like a giant circle jerk.
So, in this respect, you now have Mike Morrisey at EXEL and Skip at Geron making well in excess of $1 million in salary a year, for companies that produce little if anything at all, except massive cash burn and shareholder destruction. It truly is criminal the way these companies are allowed to fleece and rip off public shareholders. Even a company like Curis...a company that has failed abysmally across the board....their execs are paid between $500-$1million a year (cash option bonus), and for the most part, the CEO over there cannot possibly have more than 10 hours of real work to do during the week.
