Compare this April 23rd announcement with the information we just received.
ITHACA, N.Y., April 23 (Reuter) - Paracelsian Inc said Wednesday it does not expect to meet its previously announced target date of May 1997 to launch its first product, a dietary supplement.
The delay has been caused in part by recent management level resignations in the company and the need to further evaluate the proposed product, it said.
"While a revised launch date has not been set, the company believes that the product will be launched before the end of the company' current fiscal year, Septebmer 30, 1997," it said.
Now why couldn't they have been more clear and announced that the FDA was holding up the product launch in their original news release. Don't they think we poor little stockholders deserve this information? Obviously, someone got wind of the FDA's intervention a couple of days before this announcement was released because that's when a drop in stock price and huge amounts of selling occured. I doubt these two events are just a coincidence in timing. Now, Babish had left the company by this point, so they can't blame him for releasing inside info to a few large shareholders or trading on this info. I wonder who could possibly be responsable for this?
Robin (Well, you may have had to wade through a lot of tedious analysis, but it sure beats those jokes.) |
