Paul and All Thread Participants: I talked with the company Thursday, in fact, CNSI's President. I had noted the stock had not traded and thought it would be due diligance to learn why not. I called for Harry Wilcox, but since he was not in, the secretary was good enough to put me through to The Man (I can't spell his name, is it Gamzu?). He reassured me there was NO reason for the lack of activity in the shares.
As one possible explanation for the lack of activity we discussed the temporary setback for analytical coverage occasioned by Ed Hurwitz's (Robertson Stephens) move to CFO at Affymetrix, and Doug Lynd's move from Paine Webber to Morgan Stanley. (Doug has told me he plans to pick up coverage again, as Mark Simons (?)will at Robertson Stephens.)
Gamzu corrected my misinformed impression that there would be a preliminary review of Cerestat data in June, saying it would be in the third quarter, the earliest being in July, and that not much would be gleaned from that review since the research blind would still be in place.
I pointed out that we would at least know it there were something unfavorable going on by then, such as elevated mortality, and he said the trials would already have been stopped if that were the case. I believe he mentioned that 800 volunteers were now participating in the trials so far. We talked about how they get consent from volunteers -- I was curious how someone afflicted with a stroke could give permission. He explained the elaborate process they went through to ensure permission from the patient or family....
If it means anything, he sounded as relaxed, jovial and confident a CEO as any I've ever talked to (many, many!), and was excited to tell me they were about to announce a new CNS molecule and research program in, I believe, neuropathic pain...?
Personally, I am still trying to add to my position at these levels, and cursing the market makers spread! |
