Biotech Values

[poorgradstudent]

We need more semi- militant conference calls..mgmt..bios and otherwise are vastly overcompensated for their actual performance...sad but the title commands a salary and not the person or achievements.

I wouldn't disagree. But it does highlight some additional flaws in the system

1) The caller took Gern to task likely because he knew there would be no meaningful repercussions and/or didn't have the guts to do this to other larger companies. I'm not excusing Gern's conduct, but in my list of abusive biotech CEOs, this example doesn't rank highly.

2) We could also argue that the company was taken to task in part because they were honest about what they will and won't do this year (granted the reasons are opaque). For all the complaints about dishonest executives, would we have rather preferred these guys make stuff up to falsely assuage investors to think all is progressing smoothly? They easily could have said things like "the PV / ET trial is still open, we're encouraged and planning our best line of attack for MM..." and other bs lines.

3) Another example of dysfunction in the system: this caller likely won't be allowed to get a question in the future.