RW Reeves, Burning rate $20M a year. Do you think they care about Vasomax?
The only thing they care is how to burn the next $40M to $47M at hand.
Ligand with a huge pipeline of REAL science for more than 20 products,
two approvals, one more in the making, burns about $40M.
The Vasomax trial are quite inexpensive, mostly done at home and
outpatient visits. How could they burn so much money?
The business is not marketing phantolamine in Mexico (Zero sales, and as far
I know Mexican dollars look like American ones), it is the salaries of
the executives (hard work), the early investors (Ross) who got out
soon after doubling all tripling, and the perks plus the very succesful
last year Road Show with same analysts that now are surprised with FDA REJECTION
are the same who previously organized the 2ry offering with a 7%
usual fee for blue ships, this Zona thing probably higher,
plus shares to dump, easily $3M to 10M,no wonder the "buys" and now
the "holds" while they are dumping.
Nothing ilegal if done with good faith, just the nature of the beastness.
Look at Ergo.
Only thing holding this is tha cash at hand, and it does not look that
they care about holding it for Zonagen, but for "dividend" distribution.
Other products? they are ZERO value. Vasofem is not better than Vaseline,
ZonaVaccine is long abandoned, the Fertility business is a nice $1M to
burn away, the combined phantolamine/phosphodiesterease aka Vasogold is
a phanton concoction since they do not own any phosphodiesterase compound
to begin with (ICOS does have one, they got $90M from Lilly).
This is a cash burning machine, including the cash of whoever is long.
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