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Biotech / Medical : NNVC - NanoViricides, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: donpat who wrote (11925)	2/12/2019 1:58:36 PM
From: Colavita365	Read Replies (1) \| Respond to of 12873

Donpat - If the NNVC technology is the best thing since sliced bread, then Anil has been totally incompetent and useless in taking that promise the next step into the clinic. That hasn’t happened in 14 years and with 90 million bucks of shareholder money expended. When does one stop making excuses for Diwan, and just wake up and say, “Enough is enough!” NNVC brought in a new CEO to help the company do just that, but Anil’s ego and apparent need for control made him piss of and disillusion Dr. T by denying him a Board seat, causing him to resign. That is the state of affairs. The reality is this. Year after year, there are rosy press release about how great the technology is. Yet they are no scientific details with data and statistics in any of these. Big Pharma and financial house biotech industry analysts are not swayed by any such bombastic claims but hard scientific data. There are no peer-reviewed articles on NNVC research in any scientific or medical journal. Yes, there are a few scientific posters from conferences but even there details such as the concentrations or doses of drug or measures of safety have been rather lacking. There needs to be peer reviewer scientific validation, and to date there has been none. That diminishes the credibility level several notches. The history of NNVC over 14 years is replete with cost overruns, lost opportunities and frequent changes in direction – from Ebola, to rabies to influenza to herpes and now VZV. Anil seems to be incapabale for some psychological reason to take things to completion. NNVC does repeated non-GLP safety and tox studies in a particular clinical condition and then changes course, making some cockamamie excuse and instead of filing an IND to go into the clinic with a drug candidate or doing actual GLP IND-enabling studies, and starts from scratch in a new clinical indication altogether, adding time and additional money into the mix. At shareholder expense. That sums up NNVC's history in a nutshell, doesn't it? The claims of Anil’s crookedness stem from the fact that in the self-conflicted Theracour agreements, he is not bound to meet any timelines or deliverable obligations to NNVC. He can take his own sweet time doing things, such as scale up materials or simply not do much of anything (as he seems to do well, stalling on progress much of the time), and NNVC still has to dole out monies to him quarter after quarter. Anil triple dips into NNVC’s coffers- he gets reimbursed for ALL direct and indirect costs that Theracour incurs, plus he gets a blanket 30% overage over BOTH direct and indirect costs to pocket, PLUS he gets a handsome salary, benefits and increasing aliquots of stock awarded by a Board that is somehow cowed down into giving him anything he wants when he wants it. To add insult to injury, if Anil milks NNVC dry, he stands to GAIN rather than lose. The technology then rather conveniently just reverts to him and his privately held Theracour. He can buy the lab and GMP manufacturing suite from NNVC in a bankruptcy sale for a pittance and take the drug candidates to the clinic on his own through Theracour rather than NNVC. It would amount to having NNVC shareholders foot the bill for having developed clinic ready drug candidates entirely for Theracour. That seems to be his game plan, the way things have been going. In the nine months that Anil was interim CEO after Seymour left, Anil raised not a dime, did not deliver on scaled up material for non-GLP or GLP studies and let the stock drift downwards from over a dollar at that point down to the 30 cent range. If that was not deliberate, it is surely a sign of gross incompetence. There can be no other explanation. Dr. Milton Boniuk resigned because as Director he was concerned at what he saw with these atrocious conflicts of interest. His resignation letter mentioned a forensic audit that was initiated at NNVC to address Thetracour and Anil’s conflicts, but cited then management’s (Anil and his wife Meeta’s) non-cooperation with such audit to lead to his own frustration and subsequent resignation. Such an audit seems to have been conveniently swept under the rug by the “independent” remaining Board members, to Anil’s ongoing advantage. That could have been a reason Anil denied the new CEO a Board seat, in case he got too ornery about the conflict-of-interest issues surrounding the Theracour- NNVC agreements. Now with Milton Boniuk and the inconvenient new gatekeeper CEO gone, and a complicit Board fully behind him to boot, Anil has entirely free reign to engineer a VZV licensing agreement that is entirely favorable to him; once again with no demands on timelines or actual deliverables or any monetary penalties for not delivering the goods. Life is beautiful if you are Diwan. Until the SEC steps in, that is.