David,
I've been reading your last few posts, and didn't think of responding. But, heck, you posted so many times, I decided I'll react.
We have met more than once in the past, and I respect you and your thoughts, and believe you're very knowledgable (btw, give me a call next time you're in Israel).
However (and here's my point), almost all of your claims are total BS. Sorry for being so rude, but I was surprised to see such posts, which are agin total BS.
BTW, your last 5 posts are exactly identical. Is that what you want PARS to do ? You want them to issue more press releases about HU211 with no nre info ? It might help push the stock in the short term (which you think is a positive, and I see as a big negative), but it sure won't increase their credability in the pharmaceutical industry. PARS has quite a good reputation, why ruin it for a measly short term gain in the stock (which changes NOTHING in the big picture).
Yes PARS will put out more data in LA about HU211, but it's data that you and me won't understand, and does not warrant a press release. When I search for stocks to invest in, I stay away from companies who turn one positive event into 3 great press release for extra kick in the stock. When one does that, he usualy tries to hide other things.
The conservative approach by management is the correct one, and I hope they don't listen to all your cries, and that you don't bully them into doing something stupid. If they would have promissed the moon and not delivered, you would be the same guy screaming "foul play" and running to sue them. Here you have someone who tells you the story like it is, and not adding any pink rosy lenses to make it look good.
You're right, since management is conservative, everyone also knows the risks, and many still stay away from the stock. But we all know that many of these risks (mainly, cash position) will be resolved inabout 6 months.
I thought you bought the stock for the long term. If that's the case, and everything is moving along according to plan, you shouldn't worry one bit about the daily fluctuations. If the stock reaches $20 in 2001, I realy don't care what the road will look like (sure, I'd love to advance a point every quarter, but that's not how biotechs move).
You write "I do not know about you, but I did not invest my Money in PARS because I am impressed with Mr. Cook's ability to hold cost down, or Gadi's ability to do deals.
Well, than you bought the stock for the wrong reasons. I did buy it because they have things under control and a very low burn rate, and I did buy it because I know Gadi can get us the deal we want with one of the major pharma leaders, and I did buy it because of the team in Israel in charge of the science who has built us quite a pipeline.
I didn't bu the stock because I thought they'd pump it all across the country and get it to $6 by years end.
From your post, I realy don't understand why you bought the stock, please explain why. If you bought for thw wrong reasons and you have expectations that are too high, maybe you should sell.
You write "I amsuprised that PARS has a policy against re-stating news if it is not Totaly News. I find this to be AMAZING. I'm not. In fact I'm glad they have such a policy, reputation is very important in the science world.
You write "Its time MGT is as concerned with Share holders retruns as they are CLEARLY afraid from the Lawyers.
They do care about shareholder's value, and they are frustrated by the stock's price. They are NOT afraid of lawyers, but they do want big pharmas to trust them and to do business with them. That's why the conservative approach.
BTW, I don't understand why you're so upset. The press release was very optimistic. Haim Aviv said they were excited and that feedback is great. He even pointed out that they're more excited now than they were 4 weeks ago, because of this great feedback !!!
You wrote "I NEVER HEARD OF A PUBLIC COMPANY WHOSE MGT DOES NOT OWN MUCH OF THE COMPANY WHICH SHOWS LESS CONCERN FOR SHARE HOLDERS' RETURN THAN PARS.
THIS MUST STOP, we cannot be told continuously that they are doing
what is important for shareholders such as hold cost, and do deals,
implying the Pushing the stock is not part of MGT responsibility."
They show little concern to shareholers return ? I don't know where you get that from. I do believe that a management's job is to hold down cost and to sign good deals. I don't think it's their jobs to "push the stock" as you call it. They hired Ruder Finn and they have meetings with money managers, that's more than enough.
I buy stock of a company with good business prospects, and I don't mind waiting a bit until wall-street recognizes the value. In the long run the business is what matters, and not whether you pushed the stock or not. And the long-term is the bottom line.
You told me that you plan to hold for quite some time. Well, until you sell the stock all you have is paper profits/losses. If you don't plan on selling soon, who cares what the price is (unless, of course, you want to buy more shares).
You keep saying they should push push push the stock. That gets you nowhere, and could give you quite a bad reputation (do you think any of Amgen's shareholders care if the stock was pushed 5 years ago, I don't think so). Pushing will not get us anywhere, heck, even PUSH technology is dead :-)...
You write "MGT in this case has about 3% of equity. This tells me that there are 97% of Shareholders which own this Company that are not BEING SERVED BY THIS MGT
I disagree. I completely support this management, and think they are doing a great job, and many others think so too. Haim built this company, and due to dillution over the years he owns only 3% of equity. The rest of the team has options as they are not founders, and since nobody is getting a huge salary (again to hold costs down, for us) they can't buy many shares.
You say it's time to stop talking and start delivering. Well, PARS has been very conservative and hasn't talked a lot (unlike many, they didn't make promisses they can't keep). Delivering ? 2 FDA approved drugs, LE-T on its way with NDA coming by mid '99, great PII numbers for HU211, lowest burn rate around (that I know of). That's what I call delivering. And within 6 months we'll also be able to add HU211 partner (first teir pharma), EU NDA's, no cash problem and profitability around the corner.
The street has yet to understand the true value of the comapny. You know what I say, SO WHAT.
IF YOU BUILT IT THEY WILL COME. Well, PARS sure is building something big. Don't you worry, the wall-street boys will come, you can
bet on that !!!
Omer
P.S. David, don't take anything above personal. I just think people should pay more attention to the COMPANY and less to the STOCK. Another thing, PR isn't a magic wand. They just hired Ruder Finn, give it some time. |
