Dear Fools,after having received from projectchris some interesting insight into biomedical science, I like to focus our view on what basically counts for investors...http://www.bizjournals.com/sanfrancisco/blog/biotech/2013/02...I doubt, that the performance of EXELs executives justifies these salaries and bonuses! Has EXEL's limited financial casket become a self-service store?Fool on, marsuculix
I doubt, that the performance of EXELs executives justifies these salaries and bonuses! Has EXEL's limited financial casket become a self-service store?I agree wholeheartedly. Not that it will make you feel any better, but it has gotten better than in the past.For instance, Exelixis had a head of human resources paid approx $500,000 a year, and received lavish bonuses as an insider. Have you ever seen a head of HR in any other biotech with that kind of salary? Dr. Scangos probably made over $2 million a year including bonuses.(I don't recall the exact amount, but think it may have been over $3 million a year) I guess we can count ourselves lucky that Mike isn't getting paid nearly what Scangos did.
Good news is that it will be at least 2 years until they go back for more financing (absent something egregious that might happen). $400 million in cash left at end of 2013.They now have 2 drugs, and 3 indications in Phase III. Castrate of course, HCC and RCC, they have the partnered drug, and MTC indication approved (which probably, financially, had been better to have not been pursued as the return is going to be very small).Share price taking a hit however, sell on the news, although there was no rise on the rumor to go along with it. Just more watching the paint dry I think, except the paint, like the continents, is actually moving and doing so dramatically, just mostly imperceivable if you don't know where to look.Something like that....But the Cabo franchise is proceeding forward now with 1 approved indication and 2 phase III alternative indications, and 1 partnered drug with a yet totally different indication in Phase III as well.The share price is low, but the market cap is still nothing to sneeze at, so it is not as if the market does not understand some of this, but it is frustrating when we see what a DNDN or a VRTX can run to once their drug is finally approved.DNDN staggered like this until actual approval, and VRTX went up and down and up and down, even when it was obvious and apparent that telaprevir would be approved, would be the best drug, and would have a substantial market. Tinker
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |