Ultimately it always comes down to ourselves for believing in a stock/company/CEO and seeing what we want to see...so sadly I've come to the realization recently that wimusky's recent thoughts on Dr. Odidi are spot on.
IMO only Dr. Odidi never had any real game plan for unlocking the "potential" inherent value in his proprietary hyper-matrix delivery technologies.
CFO Shameze used to tell us that IPCI would be immediately seeking a partner on Rexista when the ANDA revenues began flowing.
Then when the PAR revenues began flowing CFO Domenic started telling us that they were in fact seeking a Rexista partner but they needed to negotiate from a position of strength not weakness...and therefore more ANDA revenues needed to begin flowing b4 we could realistically expect a partner.
Then along came the FocalinXR FDA roadblock and subsequent lack of more FDA ANDA approvals to the point where in the months leading into Rexista AdCom Domenic's story suddenly abruptly changed. Now Dr. Odidi was supposedly no longer seeking a partner on Rexista because he foolishly believed the time to seek a partner would be after IPCI themselves got Rexista FDA approved.
And during the entire past 4+ years of waiting for any relevant catalysts to begin here...all we've really seen Dr. Odidi do is file an endless sequence of patents none of which have added any value to IPCI's top or bottom lines because he's never had any real plan or contingency plans on how to move IPCI into the growth era.
He's been on the job for 8 full years now and has 2 commercialized ANDA's to show for his ongoing efforts both of which may generate IPCI $10M in revenues next year. To me that is as close to a total and complete generics division failure as I ever could've imagined when I first stumbled upon this stock almost 6 years ago.
And what's worse is that due to ALL of Dr. Odidi's pathetic decisions over the past 3 and half years that have led us to the current set up circumstances...there's nothing coming on the horizon that would give any of us any real reasons for optimism.
So although logic would suggest that Pristiq or Lamictal FDA approvals should arrive sometime over the course of the next year...for all we know neither will ever get FDA approved. All we know for sure is that both have been stuck for several years in the FDA approval pipeline and 2 other IPCI ANDA's that did finally get approved turned out to be total and complete failures because bonuses got paid out on those 2 ANDA's that Dr. Odidi has sitting on the shelf in the basement of IPCI's HQ's. So in my honest opinion we can't even look forward and expect any positive outcomes on the 2 ANDA's already partnered with MNK because for all any of us really know...the FDA has a problem with them and aren't planning on approving either b4 the clock runs out on the contract terms laid out in the IPCI/MNK licensing agreement.
Furthermore I have next to zero remaining faith that Dr. Odidi succeeds at the Rexista CAT 3 HAP studies and even gets Rexista invited back to another adcom committee. My reason for taking this stance stems from the fact that several core IPCI shareholders already made IPCI well aware that weezuhl was planning on attending the last Rexista adcom and would be raising several issues pertaining to the blue dye...yet we all saw what a train wreck the Rexista adcom became when it quickly became apparent that not only was Dr. Odidi and IPCI not prepared to address the blue dye concerns...the entire lot of them had no friggin' idea how to even address the panels concerns when it became apparent that IPCI hadn't even properly nor adequately prepared themselves for the panels concerns.
Furthermore we've already seen IPCI claiming that they anticipated attaining cash flow positive status 2 times...and on both occasions not only did they miss those 2 projections they're now not even projecting attaining CFP status until the halfway point of next year. And with all the drain on their resources required doing all the additional Rexista studies and dealing with the Purdue lawsuit and civil lawsuit expenses...I don't even believe that they will be in a position to claim CFP status at any point next year.
Basically I now feel that Dr. Odidi is so hung up on himself and his supposed potential game changing delivery tech platforms...that he's already missed IPCI's window of opportunity. And the fact that both Rexista and Regabatin don't have partners after all this time has passed speaks volumes about what the big boys in the bio space really think of Dr. Odidi's proprietary delivery tech platforms.
In a nutshell I will be shocked if IPCI ever succeeds at anything further moving forward all the while the scientist Dr. Odidi thinks he's a good and adequate CEO.
If Dr. Odidi stepped aside and focused on the science only, I would still have some faith remaining that this company still stood a chance...but sadly I don't see that ever happening...so my only focus now is hoping for some miracle positives to arrive that allow me to exit my position somewhere above $2 per share and never looking back.
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