Yep as fabius has been laying out beautifully lately, Odidi missed his timeline window to begin executing and he missed it very badly.
He alone knew how many CRL's he was receiving on IPCI's ANDA's and he knew going into last years Rexista AdCom that regardless of what the FDA was telling him was on the agenda it was an incomplete submission and therefore the panel was likely to crucify him which is exactly what happened.
This company had so much potential 5 years ago it was amazing...but the moment the FDA dragged IPCI into its fight with the manufacturers of Concerta was the moment everything changed here forever and it's been all downhill ever since.
Dr. Odidi is a scientist and a poor PubCo CEO. A savvy/experienced CEO could've made a plethora of necessary and timely adjustments over these past 4 and a half years resulting in a much different outcome. Whereas Odidi just kept the blinders on doing the exact same things over and over again expecting a different result. No PubCo CEO can treat their public market with the amount of disdain this CEO has and not expect to get punished for it. And Odidi was warned by dozens of shareholders about how dangerous it was becoming for him to not totally revamp how his storyline was being conveyed to market after last summers colossal adcom disaster and we were told that dramatic changes were afoot. But all we ever got was 1 earnings CC and 1 PR in January that laid out what they were gonna try to accomplish in 2018...then they immediately reverted back to treating their shareholders like mushrooms again.
And now that Odidi's had to flip the reverse split switch and hasn't had any positive news to deliver...the market's simply waiting for the financing news everyone knows is coming by the end of this month.
I very much doubt that this company survives long enough to avoid another round of Nasdaq delisting notifications after they get around to announcing their next offerings because I think the market's already telling us that Odidi's gonna be forced to do a public offering by the end of this month. And we all know he has to raise monies to keep paying his 50+ employees and his executive mgmt. team even though he never puts out any news even informing the market what they're even working on each month that passes.
The pending Purdue litigation battle this fall needs to be paid for too...so it's only a matter of time until more negative dilution news arrives and I wont be surprised in the least to see Boyd/Armistice selling out their position by/b4 the end of this year glta
News 
Market Data 
Discover 
