RE:RE:What went wrong???And whatever went right was just not enough to sustain the hype.
The mandate was to transform to a derm company and they now have a pipeline and a sales force.
The litigation w.r.t absorica is basically specious - assuming that I understood what I read from the Markham hearing. The patents are not truly threatened or expiring - they are good to 2021.
The CF101 study did not hit its primary endpoint of 12 weeks, but showed benefit in a longer term and also good potential as a first line treatment with a potential moat due to lesser safety risks than other treatments - assuming I understood that.
i could not find any indication of management raiding the coffers for personal gain. There are jumps in salary expenses, but the company grew with the innocutis acquisition so I expect that.
from what I could find on innocutis, it sounded like one of the founders was a significant problem and the resources they had were not being applied correctly, so it is quit probable that the $10m left a lot on the table.
definitely next 2 quarters will be interesting. And generally the next year as the 2 year relative time frames of the acquisitions ("accretive in two years") get closer.
It is a bit apples and oranges to compare acquisitions made by a company like CPH with one like VRX but certainly my money in VRX has gone in a different direction that that in CPH. But I am going to hang in with Shawn. He is not humble, but he is not stupid either.