Well, I guess those stock options are worth a lot less now that the stock has taken a nose dive. It will be hard for the stock to recover for you to make any money on your stock options. Hope it still works out for y'all.
Yes poop hitting the fan. No record in biotech to indicate a recovery from this type of fiasco is possible. CEO is not trustworthy at this point, he is looking to save his ass. Do you get that? He has a reputation and and ego to support so no one is going to get in his way. Good luck, sorry for my friends, but you simply bet on the wrong horse, cut your losses and get out while you can. Don't throw good money after bad money.
Uh-Oh......I feel so bad for all the good people that were blinded by mgmt team promises. I see there is now an investor lawsuit-no way to recover from this. Wonder what type of mgmt shenanigans took place short selling this thing.....a la Dendreon. Feel bad for you guys.
That grass was pretty green until your CEO's dog pissed all over it. Never fear, someone is hiring. Hope that M'fer goes to jail over this. He's an arrogant bastard who thinks because he's smart that the rules don't apply to him. Bend over now and take it like a man Mahaffy. FYI - this turd is dead.
PM is only about himself and the core 5-7 ex Pharmion mgmt. team members who "conveniently" continued to offload CLVS stock while it was still in the 60s-90s per share. Funny how they have the ability to exercise whenever they want (Erle, Jillian, et) over the past month just before the implosion and bad news. I'm "sure" they had no idea the FDA was going to say "we need more" ... or wait a second, they certainly new. The SEC ought to investigate. Wake up SEC, this is your opportunity to check out Pat and his cronies. Great opportunity for ImClone II!! SEC needs to investigate. SEC ... SEC ... SEC (hoping they monitor this site and pick up on keywords like fraud, insider trading, etc).
Clovis simply will not be another million dollar party for Pat and his cronies. Oh wait, one of them escaped to start Gritstone Oncology. Everyone should applaud Mr. Andrew Allen, the former CMO. Interestingly, his insider trades prior to departure netted him nearly $7MM. Oh yes, he was the CMO ... did he know the FDA wasn't going to accept the current data / filing? Lower than expected response? Hmmm ... who was covering up the lack of real effect? Now, isn't it ironic that Andrew took the money and ran. Ironic that Pat M is the Chairman for Andrew's new company (eg., exit strategy from Clovis). This is simply collusion and fraud by the minority. That's how it works in a capitalistic, every person for themselves industry such as the Pharma?Biotech space. This industry is so far from "ethical" and is very close to being "criminal" when you see who gets rich at the top of failing companies and their effin Wall Street accomplices. Sickening ... anyone in the oncology business ought to be effin disgusted with people like PM and his mgmt. team who are in it for themselves not for the patients. Wait until they develop cancer, they will wish that this industry was ethical. Someone needs to investigate who knew what and when. A few key insiders were selling off good amounts of stock during the FDA review period (eg., Erle, Gillian, etc) and within the past 3-4 weeks. Quite shocking ... perhaps insider trading doesn't exist as long as the SEC doesn't investigate or sniff out fraud. Good luck Clovis employees. You all need to get the CVs ready and find another job (lousy timing - year end) soon!!!
