Exactly Angelo...this entire market punishment since the recent adcom rejection is a huge but expected typical market over-reaction.
And right now with this company priced for total and complete failure it just shows how far off the tracks things can temporarily go on the market side until sanity begins to return.
My only hope is that Dr. Odidi has been humbled enough by the recent adcom rejection to finally recognize that he can't continue trying to wear all the hats.
This company needs a seasoned pro CEO who knows how to properly convey IPCI's still evolving/emerging story to market. A CEO who knows how to get analysts onboard. A CEO who's already seasoned with all aspects of the FDA's approval process. A CEO who's got a well established track record with the institutions who will eventually accumulate this stock. And most of all a CEO who knows how to unlock the value of Dr. Odidi's brilliant science!
Let's hope that Della Penna's resignation was just the 1st step of several changes in IPCI's executive management roster hierarchy!
The time has come for Dr. Odidi to recognize that no man does it alone and scientists make great scientists not great CEO's.
Dr. Odidi definitely won't be the 1st scientist CEO that finally recognizes that it's time to step aside at a key juncture in a company's history!
I recently posted a perfect example of that exact situation occurring at Cempra which also took a beating by the AdCom panel to force the change from Cempra's CEO founder to chief scientific officer!