RE:RE:New Financing I'm not prepared to call the deal with Abbvie incompetent as I don't know all aspects. The milestones are not public nor the royalty rate or anticipated market share.
That said, I was pretty upset about the upfront - far from my expectations. I think this deal was tailorized for a buyout, meaning that the future revenue stream is more worth than a big upfront now.
But with the R+F (predators) street cred deal in mind I would have acted differently, better upfront to secure a higher share price and better prepared to keep the company floating in the wait for the next revenue opportunity.
Howard seems to only think about the treasure at the end of the rainbow, since he is not an experienced businessman. In addition, he still think that people trust what he says, these days are long gone by now. It`s all about facts and figures after he has burned so many investors.
I remember when a high ranking doctor at each department in our hospital was given budget responsibility - disaster! No awareness that issues must be handled over the course of the financial year - every penny was booked day one...