The equivalent of yelling fire in a theatre...
Submitting baseless SEC complaints can affect all (long) shareholders in a direct and immediate way. Why should CP, or anyone with financial commitment on the line on this board, not be concerned about it?
One of the previous posters captured it well - wasted bandwidth, negative attention due to immediate association with guilt via lemming mentality of the typical investor and media, cost to address, AF having fodder to take down Twitter faster than Ellen, etc.
Perhaps those with means on the board, upon verifying such filing was made, can collectively launch a suit against the filer on the basis that frivolous complaints are being made to drive gains by a player on the short side?
I have 25 years equally split on the manufacturing and commecialization side of major pharma and been through integrations, mergers, successful and failed product launches and more...
With all the conspiracy theories and imaginative reach that is being flung around on this board - there are several anchors to reality, of which I will mention two:
1. The FDA is not in the business of doing favors, cutting breaks, or pushing product approval. They are in the business of stopping any and all flow of pharmaceutical or biologic products into the commercial market unless a very stringent set of criteria have been met. I am not an FDA fan or detractor, and no - they do not have anywhere near perfect record. But that is what they try to balance. Getting a Fast Track designation can not be faked. The FDA is obligated to perform its own DD and weed out anything that it deems remotely unfit for such a designation. Getting it after a tainted Phase II trial should be THE ANCHOR. It does not indicate likelihood of definitive approval, by any means... It indicates that Peregrine was able to get a very skeptic audience to do a 180 switch and designate a rare status to a previously left-for-dead product after the public data debacle. That sends a message of tremendous significance about what may be the Bavi foundation
2. What board of directors would ever go through these steps, including correction of data and negotiations with the FDA for Fast Track, as a part of a scam or alterior motive driven game? If they were not fighting for what they thought was 100% defendable - surely they understand that any such scam would become fully transparent at some point, not too far down the line, and carry with it a vacation in a beutiful white collar crime facility for the rest of their lives. This is not some crack cooking operation running in a basement in Queens... Its a public company that has patients' lives and peoples money, and a highly visible track of activities. Does anyone really think that this team (Garnick included) would try to get away with something no one can in the context of this scale? How far would this conspiracy go to make this plausible???
Back to quiet time for me.
CP - you're a gem! As are many others with tremendous knowledge and genuine intent on this board. Lots of clowns though. And as we all know about clowns, some are funny, and some are scary...
MH
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