Bert FriesenOne of the main reasons that I bought MPH was because of my knowledge of the CEO. I have known Bert Friesen for 28 years.
After completing his Ph. D. he began to develop patents and enterprises that utilized some of the drug discoveries that were being made at the University of Manitoba. For a time he was employed by the University of Manitoba and then he launched his career as an entrepreneur.
During an interview on ROB t.v. one year ago, Bert Friesen displayed his typical candor. He said that Biotech depends on luck. Plain and simple. If you have a substance that can withstand the rigors of scientific evaluation you can do very well. But, if the results aren't there you can do poorly too and it is difficult to know how things will turn out until the science is done.
That is what I expect in a CEO. Candor and honesty. Bert has that and I invested in the company soon after that interview after watching MPH for two full years. It was down to .50 cents and it looked like a good time to get in. I have since halved my holdings. Anyone who risks everything in a biotech is not an experienced investor.