2 small biopharma CEOs that should be sacked

Check this out from Seeking Alpha:

https://www.google.com/amp/s/seekingalpha.com/amp/article/4133495-2-small-biopharma-ceos-sacked

"I refer, of course, to Egalet (EGLT). It is hard to imagine a company that has done a better job of destroying shareholder value here in 2017 as the chart below shows.




The company's primary drug candidate ARYMO ER was approved earlier this year. Egalet has had some success in ramping sales. ARYMO ER went from 1,124 prescriptions in the second quarter of 2017 to 2,630 prescriptions in the third quarter. The company also garnered market access with a large payer as it added ARYMO ER to its Medicare Part D formulary during the quarter.


Last week the company announced that the FDA has tentatively approved new labeling for ARYMO ER. In recent months, the company has also delivered several positive trial results (I, II,). The company enjoys positive if sparse analyst coverage with Cantor Fitzgerald reiterating the shares as a Buy with a $7 price target last week.

Despite this the stock has lost some 85% of its value this year and now has a market capitalization of just ~$45 million. Part of this is the continuing disappointment that ARYMO ER will have a smaller potential market in pain management than was believed a year ago and the compound did not get initially the labeling the company was hoping for. Management has done a poor job communicating that this niche could still be lucrative (especially against the current valuation of the company) and with its success ramping up scripts.

In addition, I don't think investors have full confidence in the company's ability to manage its balance sheet. Yesterday, Egalet announced a deal that will reduce its total principal amount of debt outstanding will be reduced to from $61 million to $48.5 million. However, the company is issuing a significant amount of warrants within the transaction and will also issue some $23.5 million of new debt with a slightly higher coupon. This transaction is a bit perplexing given the stock is trading near all-time lows and the company reported it had cash on hand just in excess of $100 million during its third quarter earnings report. Egalet did another dilutive capital raise in the second quarter as well.

I continue to hold (but I am not adding to) both stocks as I think both are significantly undervalued given their underlying assets and prospects. That being said, I would feel much better about my stakes if both CEOs were given their 'walking papers' and new, more credible leadership was brought into both companies."

 

Dr. Dayno quit, so finally the rats are leaving this sinking ship. We're all wondering how Radie has lasted so long. The Board is asleep at the wheel. They should fire this POS and appoint a real leader. Morale and respect would improve immediately.

 

Tx for posting. Good and well written article. Like many people here I can't understand how senior management have kept their jobs. There's no hint of success anywhere and the dive in the stock price proves it. Any TM like me would lose their job if we crashed value by 85%. Why hasn't anyone, like the Board, handed Bob his "walking papers" yet?

 

We're ending the year at a buck a share. Outstanding performance Bob, Mark, Pat, Barb and Stan. Happy f...ing New Year, you bunch of losers. Hopefully good riddance to the lot of you in 2018.

 

Hahaha, love coming to this board once in a while. Just read that this ace management team has screwed over it's long suffering stock holders yet again on the last day of the trading year. Trying to issue another 200 million worthless shares and hint at a possible reverse split. Guess what? Shares plummet to 83 cents. Nasdaq delisting in the wind. Then shuttered. Why would anybody remain at this trash company?

 

Once you have Egalet on your resume, you're screwed. Who'd employ such a wothless piece of trash?

 

Where did DR dayno go? Why must we call him Doctor

 

people who have their MDs believe they deserve a salutation different fro mm everyone else ( even this who have their PhDs who refer to themselves as 'Doctor Smith')

Give me a break ... I have an MBA and have worked my ass of and make more than 80% (maybe 90%) of the physicians in the US.

But do I refer to myself as 'Master Xyz' ? No, that'd be ridiculous.

I think if lot of those who require themselves to be called Doctor are males, with small penisis.

 

I hear Dr.Dayno took a job as a consultant for Doctor Oz, apparently he told them
that he spent the last 4 years managing in one train reck, and that managing train reck guest like Corey Feldman and Charlie Sheen would be a piece a cake!
I also heard Bob is selling all his shares at the beginning of the year and taking all the profits and buying him and his family a dinner at TGI fridays, 2 for $20.
#Bob4PresidentofUS
#OxaydoMostSuccessfulDrugLaunchEver
#PillPusher
#Sprix=BugarSugar

 

I hear Dr.Dayno took a job as a consultant for Doctor Oz, apparently he told them
that he spent the last 4 years managing in one train reck, and that managing train reck guest like Corey Feldman and Charlie Sheen would be a piece a cake!
I also heard Bob is selling all his shares at the beginning of the year and taking all the profits and buying him and his family a dinner at TGI fridays, 2 for $20.
#Bob4PresidentofUS
#OxaydoMostSuccessfulDrugLaunchEver
#PillPusher
#Sprix=BugarSugar

 

What's the connection between Thanksgiving, the Holidays and Bob Radie?

Stuffed Turkey!!

 

Dayno was an arrogant dick that treated people like shit. He is the one who fucked up the label negotiations and should bear all the blame here

 

Thats not true at all.

 

Jeff Dayno is a stand up guy. I knew him in his Labropharm days. Good, ethical researcher with high energy and integrity. He made a major mistake coming here which is why he quit without another position to go to, he'd had enough of Bob and his fellow clowns. The appalling corporate strategy and company failure is entirely due to Bob and Mark plus Pat more recently. If we could clear out these overpaid losers we may have a chance of success. I miss Jeff.

 

Market cap sinks to $40 million again. Down from a high of $300 million. Shares below a buck. Stock market delisting on the horizon. Our stock options are worthless. How does Radie and his team of Executive Stooges keep their jobs?

 

Morale is on the shitter. I hate working here. We all think Radie sucks.

 

Wow, this company looks like a train wreck.

 

How can anyone but a clown screw this up? Only #Bullshit Bob and his merry crew of r*****s could take an opportunity, including opioid abuse states of emergency declared in States such as NJ and PA, from over $10 a share to a penny stock in a year. Now we only have a market cap of ~ $40 million. Sales suck. PATHETIC, TRULY PATHETIC.

 

As we finish another depressing and hopeless week at Egalet, I have to ask myself "Why has turd Bob, still got a job?"

 

Good news Dr Dayno landed at Harmony Biosciences. Interesting to see that Egalet hardly gets a mention in his bio. Just too embarrassing....
www.harmonybiosciences.com/jeff-dayno/