No, but good luck. I took the cash and walked. Walked ticked. I feel as though I've met "high throughput Corvas", where we can translate faster screening to faster burn.
I think that the Board decided to get a good deal for management and employees, while making a decision to protect shareholders from potential downside.
A critical mistake, in-licensing such a huge amount of burn -- applied so far from market -- in this funding environment. I could only interpret the move in context that management was anticipating good news re. more than one project. And then, for a prolonged period....... nada.
Silly error. It was sort of stunning at the time, sort of "there must be something good, in the deeper works" stunned. After all, there was the milestone payment for thrombin inhibitors, the Athersys (sexy, for me) deal, and all of that time on the discoverworks learning curve, right?
Ugh.
So...... I hope that most jobs are secure. It looks like they are. It may be a good move by the Board. Certainly looks like JNJ got a good look at the company, so they're probably just picking low hanging fruit in this difficult period for biotech. |
