Rumors were that top brass will take stock so low that Hanmi pharma from Korea can/will takeover and bleed investors out. I can see that's happening. Last 2 Sales CEO at SPPI were fixed and they sold the entire sales porfolio on purpose so nobody questioned them on sales.
All senior management were just milking the pending cash company had. Mind you SPPI was a $1.4 billion USD company with $234 million in cash when then CEO Dr. Raj was wrongfully terminated.
Fast-forward today..it has no Cash, sold it portfolio to Acrotek/Aurobindo Pharma, had no real pipeline and market cap is now just $100 million.
What the heck happened to SPPI? It was an ugly fix by top brass (after Dr. Raj left) and other senior management to screw everybody over there large salaries, pay perks and bonuses.
All Investors are now screwed !
All senior management were just milking the pending cash company had. Mind you SPPI was a $1.4 billion USD company with $234 million in cash when then CEO Dr. Raj was wrongfully terminated.
Fast-forward today..it has no Cash, sold it portfolio to Acrotek/Aurobindo Pharma, had no real pipeline and market cap is now just $100 million.
What the heck happened to SPPI? It was an ugly fix by top brass (after Dr. Raj left) and other senior management to screw everybody over there large salaries, pay perks and bonuses.
All Investors are now screwed !