Ariad Pharmaceuticals Inc fka ARIA

[iandy]

I agree the worst thing would be for them to do something in haste. They have to work their way through this.
Setbacks are the norm in biotech. Setbacks like this are extreme. The immediate problem is cashflow. They can not continue this burn rate and expect to get financing in a year. There is always the catch 22 aspect to downsizing. Deciding where to cut is tough.
I'm able to be a bit more objective now. I still have some animosity. I think they really screwed up.
Hindsight is 20-20 and I was thrilled when they announced they were going to go it alone. My biggest beef is I think they knew when Iclusig was approved the black box was warranted and let their ambitions get the best of them.
I have very little objectivity about Harvey. I hated it when he said he would buy if he could while he was in the midst of selling. It was an insult to my intelligence. I don't know if he should stay or go. I do think he has very little credibility with the investing public now. I think if he resigned and they got a respected turn around guy to take his place the stock might go up a point or two.

BTW: I'm a small businessman also. I own my inventory and have never taken out a loan. Of course this is a different animal.