tdon1229 wrote: Theralase's management problems are not an uncommon phenomenon ... Harvard Business Review called it the "Corridor of Crisis" back in the 1970s ... typical of many companies started by entrepreneurs who have a solid technical knowledge, give birth to "their baby" in the form of a public company, and install themselves in the leadership position to nurse "their baby" in the early phases of development.
But as the company grows, the knowledge needed to grow the company successfully increases beyond the entreprenuer's ability to effectively execute. The smart entreprenuers know enough to hire competent staff to handle things they can't do themselves and cede those portions of control and responsibility, while concentrating their own efforts on ensuring development of the science, or wherever their own skills are best utilized.
The really smart and successful ones know enough to bring aboard a competent CEO and staff and relinquish total control to those who are both capable and competent to guide the development of the idea/product to success. But that alone doesn't ensure the company's success. Unfortunately, the history of startups is littered with good ideas that were poorly managed, that maybe enjoyed some initial success, but ultimately failed because of poor management. There are many companies with ideas that are just good enough to attract investors and financing that enable them limp along with minimal success in spite of entrepreneurial managers who don't know enough about business to get out of the way of the company's success.
As an aside to those bemoaning the fact that there are no US sites participating and recruiting yet, you should be aware that the FDA gets its six-figure fee (in $US, not $CDN) up front, and that each clinical trial site is fully funded up front for the trial costs. Note that the border remains closed to most travelers. To me it appears that the company has chosen to conserve its limited cash until it is clear and certain that the chosen sites can proceed with the trial. In the meantime, I can only presume that Theralase is working through the preliminary paperwork and approval cycles so as to be prepared to move ahead quickly when the chosen sites are permitted to begin the trial.
As another aside, some of you on this board appear to need to get a puppy to care for as a pet. That way perhaps you'll learn how to deal with your own whining.