Gern:
I only had a speculative position and sold half of that today for a 15% loss. I'll keep a few shares around as part of my collection of lottery tickets (right beside my leftover PYMX). It was always a speculation based on phase I results, and I don't think the CC clouded the data to date. Rather, it just seems that there will be better opportunities to buy more in the future, if or when the time comes.
I get why the company is not jumping into trials ahead of accruing some more data. But the spend rate in the meantime is bothersome. The CC was amusing, and I guess it's nice to hear a caller call out management. But really you can pose those questions regarding compensation versus achievement to 90% of biotech CEOs. That, in and of itself, didn't drive my decision.
