I agree. Also re management. I will say, though, that my many years in this company has taught me that PW generally does very good deals. He has been excellent at raising money at a premium, he has kept a very low burn rate and dilution has been minimal.
The delay in Europe right now might be due to regulatory red tape in the various counties: Ethics approval, data collection approval etc. I do think Clinuvel might regret by now that they decided to go it alone without a partner. Simply, they are too inexperienced to do a roll out by themselves. But it's learning by doing and eventually they will get it right and, as you say, perhaps use that experience to roll out Scenesse in the US for EPP while partnering for Vitiligo.
As for communication: It's a total disaster.
News 
Market Data 
Discover 
