Zenith Update PerspectivesHere are my (rambling) thoughts regarding Don's Zenith update.
- Still seems to be very exciting scientific potential.
- If I understand the offer made to Metavation for enzalutimde of of $93 billion that would put zen3694 at $77.50 per share if successful (of course with pricing and costs, demand, etc to be accounted for). Hope I got the decimals right.
- Like RVX interms of time horizons everything is way into the future.
- There is no evidence that there is a suitor for Zenith.
- At least the re-org will be done by July 31 and I do find that exciting down the road say in 2022 or beyond.
- Don presents his science by rote. He clearly does not understand what he is talking about and therefore can't explain it and it is always the same old data!
- If we actually do get some zen3694 results by Q4 2016 (and I doubt we will) it could stimulate the interest of suitors and even have a positive impact on RVX in terms of credibility.
- Don did a 180 degree turn re NASDAQ vs Jan 7th so now that is back on board. This really makes me wonder about Don's capability and credibility. He skirted this very quickly and provided no commitments.
- Regarding the NASDAQ listing Don used a phrase like "when market conditions permit"! I've heard that one before from him. He is a slippery dude. There will not be an IPO for years and I own many thousands of Zenith shares. Now I am not saying that is bad because perhaps by 2025 I'll have a royalty stream flowing in.
- Overall, while I do believe in the science this was a very unconvincing presentation and completely typical of Don.
So good for Don for doing an update and the notice said it would be "general" and it was!!!
He did say there could be a regional deal in China but without liquidity it provides no value to me.
It is excellent that dosing has started.
My bottom line is disappointment but not unexpected. Don skates away on $850,000/year for another 6 months. I wish I had his job.
GLTA
Toinv