Thank you, sokol, for this very thoughtful and well researched post.
It is strong support for approvals of our drug more quickly in Spain and Australia.
Also, it shows that our company took deliberate, decisive, action in choosing to set up trials in these sites with sound logic and reason behind those decisions. The very anti-thesis of what some would have us think - there must be something wrong going on here. Hey, there could be something RIGHT going on here:)!
When a biotech company puts as much intelligent effort into the job as ours has done, to work “smarter not harder” (to gain approval for our drug), it requires a front end load of time and can often look as though nothing is being done. (You can’t actually see thought...just the results of it). But the pay off in the end should be the litmus test on determining if Missling was wise to use his head, instead of an endless reserve of cash - which we don’t have - to solve this problem.
By enlisting the KEM and Illumina technology to leverage the data from our small but very promising early trial to lift us to an advantageous position of enriching our trials for successful outcomes as well as establishing the appropriate biomarkers, is unlike anything BP has done for this field.
Additionally, to find the correct pathway to have all of this effort convert to successful approvals (I believe we are approaching the doorstep) is akin to spending the requisite time to slowly, tightly, coil the spring in order for the uncoiling to convert a massive amount of stored potential energy into the vast kinetic energy which can generate power - of the visible kind.
Our process was slow, and even if leadership was not always visible, it was a different kind of leadership. Missling is a man of actions not words, I believe. His actions are getting nearer the time they will speak for us and to us...and everyone will hear them. Why do you think Biogen keeps blinking? I think his leadership will be viewed properly in the context that he was not just leading our company, he was leading and pioneering and entire revolution in the CNS area of medicine. I feel this is a noble endeavor and requires noble leadership (my observation. I am not a blind follower - I would say this of any CEO who undertook what he is executing.)
One of the best lessons that will come out of this experience, our company’s transformation from a caterpillar into a butterfly, will be that others will learn that CEO’s don’t always have to be busy looking “Captain-y”; they can be busy steering. Other investors may point to our company as an example of what solid DD coupled with patience can do even in the face of a non-delegating, more hands on, behind the scene, low key, intelligent, CEO, and a sinking share price.
To the other investors who will come after us into biotech stocks: you have to discover if your science makes sense, then you must see if the steps your company is taking make sense (ignoring what is said - only what is done matters. Note: BIIB SAID their AD drug is a hit... their price dropped over $40/sh. Even they don’t believe it - only a fool drinks his own bath water.).
Then, you have to be patient and have faith in the things you know. And don’t let anyone tell you differently. It takes a long time to learn the last lesson...all the world over people have agendas - not all good. Some will separate you from your money and your own beliefs. You have to be fooled a couple times, and live a certain number of years, before you trust yourself first and have the faith to stick with your convictions which pass the sensible test.
Very commendable post, sokol. Your research into our ongoing steps is meticulous. Thank you.
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