I'm just tired of Dr. Odidi not recognizing the folly of his ways. The man is a beyond brilliant scientist and I honestly thought ran IPCI impeccably over the 1st 4 years of his growth endeavors.
4 years ago right now I honestly thought we were in a colossal game changer of enormous proportions.
Then came the FDA Focalin fiasco which IPCI got dragged into all due to the FDA's fight with the manufacturers of Concerta.
From that time forward it's been a never ending sequence of one disaster after another as you know.
Even today I've come to the realization that the FDA isn't going to approve any further IPCI ANDA's anytime soon...which makes their entire past several years of generics endeavors a total and complete waste of time.
And because their generics pipeline has been such a disaster over the past 8 years they haven't been able to unlock a shred of measurable value in Dr. Odidi's proprietary hyper-matrix delivery tech platform.
nPODDS and PODRAS both remain completely stalled...and due to the pathetic generics platform progress...IPCI's market value is at historic lows. Which makes any potential deals on Regabatin, Rexista or PODRAS a total and complete lost cause.
A seasoned bio pro CEO would've been far better equipped to survey the FDA's generics landscape and shifted the focus into securing deals on Rexista or Regabatin in early 2014 when everyone thought IPCI was on the road to success even if those deals wouldn't have been very lucrative at that time. Doing so would've at least got IPCI back on the road to success instead of failure for relying on their generics to somehow save the day!
But the moment the Focalin screw job arose in spring 2014 this stock lost all institutional support and has done nothing but engage in a never ending array of one disappointment after another and become weaker and weaker with each passing year.
To the point that right now at this precise juncture the only thing coming next year is maybe Focalin and Seroquel revenues that equate to $12.5M which isn't going to do anything but result in IPCI maybe attaining cash flow positive status by next July. But without institutions accumulating IPCI we're doomed plain and simple!
In a nutshell the negatives far outweigh any potential positives right now...so my personal decision after being invested here for 5 and a half years is deciding whether or not to take the loss by year end this year to offset capital gains or endure another 1 to 2 year of IPCI pain...because right now I have zero rose colored glasses on that anything positive is going to occur over the course of the next calendar year that would cause institutions to begin accumulating a position.
The only reason I was ever high on this stock to begin with was due to the potential of IPCI implementing Dr. Odidi's proprietary delivery tech platform into several opioid based NDA's!
IPCI themselves have been telling us for years that they're sitting on another 20 opioid based NDA's but they have no money to file any of them.
I'm beyond disappointed and my confidence in Dr. Odidi's abilities as CEO have been completely shattered.
Had he been able to secure deals on Rexista and Regabatin in early 2014 we definitely wouldn't be sitting here collectively waiting for the next short attack to commence.
It's not entirely Dr. Odidi's fault for the FDA's generics screw job...but it is entirely his fault for not recognizing the chitstorm that had commenced the moment the FDA came along and screwed IPCI on Focalin in the spring of 2014. PAR didn't have anywhere near as much to lose as IPCI had back then...and in retrospect that was the 1st obstacle that to this day this company has never really been able to overcome. Sure PAR is now selling 6 strengths of Focalin...but as we can see by Q3 earnings it's not generating IPCI enough revenue to even waste our time pretending is a positive.
And with MNK going to be needing another 9 months to eventually hit their stride on Seroquel sales...that's going to end up being another disappointment just as Focalin has been.
Is there valid YOY revenue growth underway yes...but the institutions could care less about IPCI's tiny generics revenue underway.
And for all any of us know all that's gonna occur over the course of the next year is IPCI spending a few million dollars on the CAT 3 HAP studies only to get slammed by the adcom panel again because lord knows IPCI won't bother presenting their ongoing Rexista approval pursuit to market so that any of us will even have a chance to gauge if they've truly addressed the blue dye concerns raised at the last adcom.
The doubters and naysayers over the past 3.5 years running now ever since the original Focalin FDA disaster have been 100% right...and every single IPCI long that still remains is hoping for some miracle change at IPCI's HQ's taking place that will maybe someday result in actual value being unleashed from Rexista, Regabatin, PODRAS or the other 20 NDA's waiting in their empty vacuum NDA pipeline.
And I just don't know at this point if I want to endure another year of watching Dr. Odidi fumble along knowing full well that he's proven over the past 4 years now that he has zero clue how to make timely and necessary adjustments that would cause institutions to begin accumulating this train wreck stock.
I blame myself for being in the position I'm currently in of course. I completely ignored and tuned out the detractors who said Dr. Odidi wasn't the right CEO for the job.
So whichever way I decide to go I will go in peace and wish any of you who remain nothing but the best cheers!
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