Rainy day where I live so I decided to spend it poking around on the detail of the acquisition. On Slide 5 of the presentation, which was the lead off slide for the acquisition, Leo listed what was acquired. First noted were 10 compounds. The second item was a "proprietary computational drug design technology." Hard to divine what this means exactly but the indications are that the proprietary technology is extremely valuable and efficacious (we all like that word) as evidenced by the sheer number of promising molecules. And what an impressive list of targets for these molecules - anthrax, malaria, fungal infections, TB, food borne pathogens, anti-coagulant reversing agents and of course the bacterial infections that Brilacidin targets(staph aureus, blood stream infections, lung infections and oral mucositis).
Some posters make the case that B is a play to partner and get money for the company. That may be....or not. My point is I do not think this is an acquisition that was done just to facilitate up listing or to bring P and K home. I think it will help with all that and that is a great thing. But it also appears to be an incredible technology and library of molecules that stands on its own science and opportunities. Remember this company was more embraced by the market and had a value exceeding that of CTIX which, subsequently was squandered by inept financial acumen.
We are in a period where the company must digest its new makeup and so must we. It may require some patience and shifts in our expectations as evidenced by the new plan for Prurisol. There may be resource constraints (capital, employees) that need to be worked out. But L and M have more to lose than anyone and felt this was the way to go.
I think it was revealing that Leo started his presentation with the anecdote about the father wanting his son to pick him up at the airport. Why was that the leadoff? Maybe it is as simple as the ending to that little story. Leo said his job wasn't to tell us he loved us, it was his job to move the company forward. If that means Prurisol has a shift to a new approach, so be it. If that means people think management has been distracted or lost focus, so be it. He and M have more at stake, more info, more expertise and a proven record of improving shareholder value. Seems to me they are moving the company forward in a dynamic way. Maybe PolyMedix told their shareholders they loved them all the way to bankruptcy. I'll take this approach.
I have worked closely with 4 CEO's of a billion dollar enterprise and observed a little of what makes them tick. What they do is not always liked or their actions popular. But all 4 of them were successful and kept the enterprise moving forward. When all the hoopla dies down it is my belief that will be the case here. GLTA!
AI
