"WE have experienced on PPHM board what Smith says, in the form of the daily presence of negative naysayers."
Could this have anything to do with a 90% decline in share price with millions paid to those in charge who own very little stock and a court of law finding that they stole money from the company?
You are invested in hundreds of companies like this? Yikes!
Yes and anyone running one of these biotechs should understand you need to partner early to position the company for the long haul. Especially, if none of your founders are wealthy enough to hold a large equity stake. You certainly can't have a BOD sucking huge pay from the company while you are selling at the ATM to fund a go it alone strategy.