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Biotech / Medical : Immunomedics (IMMU) - moderated
IMMU 41.32-2.3%Jul 10 4:00 PM EDT

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To: stockdoc77 who wrote (52495)9/15/2019 8:00:48 AM
From: erickerickson10 Recommendations

Recommended By

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re: "some on this board to give B a pass on the CMC failure"

To me it's more a matter of how to go forward rather than "giving a pass". I haven't been of the opinion that throwing the bums out and starting fresh with new faces was the fastest way to re-submission, I think it would have taken longer. I was surprised and disappointed with the CRL. I'm surprised and disappointed that it will take until at least October to re-submit, my initial thoughts were that it'd be much faster than that.

Yes, Captain B. bears some responsibility for those disappointments, whether through lack of oversight, or because the FDA blindsided everyone (remember it was around the shutdown), or because some of the board's hires annoyed the FDA, or, as I suspect, the board hired people who blew it. The management style "hire good people and get out of their way" can backfire.

All that said, I want the shortest path possible to resubmission/approval, and I do not believe that would have been accomplished by wholesale slaughter at the top level. So what could Captain B. do that would get you down from that tree? ;) I want him to bend all efforts to getting it right this time, no quarter, no excuses.

Of course if there's another screw-up I'll ask the entire board to jump off a cliff.
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