Misiu,
I truly admire your unwavering support for the company, and for the prospects for its eventual success.
I share your belief in the science, and think the company will become a success because of the science, and in spite of poor management.
Thus, I cannot share your unwavering loyalty for Pourhassan.
My criticism of Pourhassan is based on three factors:
First, he has repeatedly made statements about financing, timing of approvals, and other matters related to the company and PRO 140 that turned out to be false. Thus, he has no credibility.
Second, he has taken a huge salary for many years without investing even one dime of that back into the company. I am invested in many clinical stage biopharmaceutical companies, and know of few if any CEO's who take such a large salary (most take compensation in the form of a modest salary plus stock and/or warrants). Moreover, most such CEO"s buy company stock on the open market which sends a strong message to investors that management believes in the company. and has skin in the game.
Third, Pourhassan is dismissive of existing investors, and does not present well to prospective investors. This has nothing to do with Pourhassan's accent, and everything to do with the substance of what he says.
I enjoy your posts, and believe you contribute much to the board.
However I respectfully disagree with your blind loyalty to Pourhassan, and believe the company and its investors would be better served by a more competent and proficient CEO.
The Lawman
Market Data 
Markets 
AI
