Replies to post #159309 on Biotech Values

[ilpapa]

Seems to me it's also legally dangerous.

[ariadndndough]

I'd like to end by making a few personal comments regarding the 10b5 plan that I put in place in late December 2012, representing about 10% of my holdings. I had never sold any shares of ARIAD stock and, in fact, have invested well over $7 million in acquiring ARIAD shares over the 21 years since I founded the company. Given my active involvement with our leadership team not only in R&D activities but also, as of January, in our ongoing commercial launch of Iclusig, the only window for me to put a 10b5 plan into effect was prior to having any commercial Iclusig sales, thus the choice of late December. I also felt that the company had achieved a major event: the transformation from an R&D-focused, science-driven company to a fully integrated, still science-driven, oncology company. I have absolute and complete confidence in the company and its extraordinary prospects going forward. No one should misinterpret my sales as any lack of confidence. I expect the stock price of ARIAD to recover and continue to rise as we deliver on our objectives through continued flawless execution by all of our employees


dew after 22 years come on i think he deserves it and gives a dang good reason on why he did it.

[JJM760]

I wasn't a fan of his final statement either. It struck me as a little too loose lipped. Don pointed out that legal was prob not too thrilled about that one. As far as the rest of the conference call is concerned, I think it was fine. Burger was defending his first born and the share price for his shareholders and the analysts that have high egg on their face and price tags on the stock.

As far as those who feel that he should let the numbers speak for themselves, it's a long way to the May conference call. I believe he felt he had to step up and try to stop the bleeding. The stock was in a tailspin and who knows where it would've landed or still might

[ghmm]

ARIA:

I thought it was an amusing answer it almost seemed like the analyst asked him to say something bullish for the stock.

In Berger's defense he managed to create a lot of shareholder value and get a drug approved when things seemed extremely dark. I never followed the company close but I was one of those who saw his board resign and figured to stay away without giving the company much of a look. In hindsight that would have been a great time to buy. Perhaps the board was justified (I don't know what the issues were) and perhaps someone else could have gotten the company to where they are but Berger was successful. I don't have a position but I wouldn't dismiss him as just blowing hot air despite some rather winded comments on the call :-).

[poorgradstudent]

ARIA:

This is a ludicrous and unprofessional thing for a CEO to say when he just established a 10b5-1 selling plan.

He also said something stupid about thrombosis and said there has been none. And then later said AEs are consistent with the label. It's just dumb to attach the word none or any similar word when talking about AEs, no matter how benign.

Undisciplined and loose lipped. Weaksauce.

[DewDiligence]

ARIA’s Harvey Berger sold another $1.9M worth of stock under his 10b5-1 plan on 4/17/13 at $18/sh, which makes his comments on the recent CC (#msg-86467812) even more preposterous:

http://www.sec.gov/Archives/edgar/data/884731/000112760213014294/xslF345X03/form4.xml

If Berger wanted so much to buy shares rather than sell them, as he asserted on the CC, he could start by canceling the 10b5-1 plan.