Intarcia Therapeutics

Heard the same thing from a VP who had 1 to many drinks utter same words at the weekend party.

Came here just to see and what an interesting place. He said unless they fix the device company is sunk and most upper management is in deep denial unable to accept the reality. Said that it's not feasible to create something that control what comes out consistently anytime soon and without it no FDA approval.

 

The issues with device have been corrected. FDA giving green light now.

 

Nope, not even close - drunk in broad daylight?

 

Device fix is just a desperate trick to appease KG and investors. If anything FDA, already aware of Intarcia antics, will reject it. Team did what they can by year end but one can't put lipstick on a pig and pretend all is well.

 

Is it true that severance is capped at 4 weeks if you are fired after New Years ?

 

Who knows but with these assholes sounds about right. What's your source? Hayward and Boston HR are on different planets and be glad even with a puny 2-week severance. You should be more worried about having worked at Intarcia. Expect round of layoffs when FDA rejects re-submission.

 

SUCKS!!!!! What an effing joke this place is. Case study in how not to build a company.

 

How can KG justify sales people and high paid consultants who are looting the company with no sales for at least 18 months?

The board is in his pocket and the 8nvestors are being fooled.

 

Long time lurker consultant here.

It has been great gigs for lot of the consultants. They seem not care for our expertise but dictate us to do menial work for good rates ($150/hr independent to $500/hr firms like McKinsey). Consulting firms like BTL (made it out like bandits), Deloitte and McKinsey made tens of millions of dollars and about half of their consultants are lower level people with little to no industry experiences charging company $300-$350/hr. We all do basically what the clueless management tell us to do often to cover their behind and incompetencies. Many of us gave up giving objective unbiased inputs as they are not welcome and will get you fired unless you tow the line for the manager who signs your invoice. Case in point - Despite tens of millions of dollars paid to consultants they still received CRL.

Intarcia is unable to attract FTEs due to bad reputation as graveyard for people who were on verge of getting fired and/or terrible reputation not to mention tight job market in the Bay area. Never seen so many ADs under 1 roof as AD title is given to unqualified people who used to be lower level managers at their previous employment. We chuckle when we are told what to do by many of these ADs in our open bullpen rooms. Our fears are that we may be 1st to get fired but it's OK as it has been a great gig for me and made over $300k this year and have so many stories to tell to future clients on what not to do.

 

Long time lurker consultant - where does the sh*t show end ?

Jail time for CEO ?

Fraud for CFO ?

Merger with Theranos ?

 

Sorry don't know as experienced consultants stay out of the internal politics and gossips. Not another Theranos as the diabetes drug pump supposedly passed the clinical trials end points according to Intarcia. Who knows how they will fare and compete against the established branded and soon generic version of same drug.

What I know are related to the Hayward CRL and it looks impossible to complete by Q1 2018 and more like end of Q3. They need complete makeover and validate the new manufacturing processes. They always faced issues with aseptic processing mostly due to the poor facility layout and bogged down by various contaminations. They cut too many corners everywhere and reality along with FDA caught up with them. Device people are stressed out and just perplexed. Junk in and junk out and sorry to say there were lot of dumb and rosy assumptions and used questionable risk assessments to justify moving forward. Anyway job security for the consultants as new hire quality really went down this year.

 

The merry go round will be disrupted in 2018 as the lies catch up to the company. For years investors were told the generic drug pump combo would be approved as a once a year product by 2017. Well kids there is NO CHANCE WHATSOEVER that a once a year generic drug pump combo is approved prior to 2021.

Why were the lies told ? To scam people out of large amounts of money. Were the lies told because of intentional fraud or just stupidity ? KG has been in the industry for years and years - he is a pathological liar.

 

Oh so we's be fucked ?

 

Whoa this was from May of last year. They knew there were problems a long time ago. Glad I stayed at Novo.

 

From sunny California prediction for 2018: no bonuses or insignificant ones, major reorg, more minions hired, smart people will leave the cesspool, no approval

 

Long overdue firing of some people from the sinking ship while rearrange the deck chairs type reorg. Still employable people leaving at once after the tiny bonuses are announced. No approval in 2018, period.

KG might be forced to resign given the woes and lies and new interim CEO is brought into to liquidate the company.

 

Intarcia patient experience team lands in subsaharan desert at night.. begins Tuskeegee Two study... implanting pumps in healthy africans to prevent aids... Intarcia new disruptive technology allows for gunpowder driven implant device to shoot pumps into africans from a distance... Intarcia launches AIDS Safari - ride on back of 4X4 using gunpowder implanter to save africans from AIDS... "Tag A Buck" program recognized by World Health Organization as most disruptive advance in the history of medicine.. KG wins Nobel Prize for Peace

 

Whatever happened to the SEC inquiry post? Fake news?

 

what happened to the once a year pump ? fake news ?

 

NEWS !! You want news !! Try this jackass

Graves says that the subsequent close should bring the round total to between $500 million and $600 million (excluding the milestone payment), which would mean that it has around $1 billion of cash in the bank (at the high end). “We’re deep into conversations about the second tranche, and I wouldn’t be talking about it unless I thought we’d get it,” he adds.

That should bring the company through at least the first year of commercialization, with no additional equity financing expected until a possible IPO at the end of 2018.

This is the year baby. KG speaks - that's news.