RE:RE:RE:RE:RE:RE:RE:RE:A valuation update.stockbuphoon wrote:
I guess I didn’t understand how far you should go with forward looking statements. I also didn’t understand how material news (not material risks) as in an FDA complete response letter does not have to shared at all for a year. I guess all investors should just guess and read the tea leaves on material events and it’s not really necessary to be factual. Semi-factual and partial truths are more than sufficient?
...Why would all these smart biotech people do all of these 3 open label 4050 trials when at least one board or management member should have understood that RCT’s were most likely necessary to be taken seriously. Instead of spending $350M over last 3 years, they could have spent an extra few million to do an RCT back in 2013-14 time frame....
stockbuphoon
Failure to disclose the material information in a timely manner (e.g. Prometic received the CRL letter from the FDA in April 2018 and did not disclose it until April 1 2019) is definitely in volation of the security law.
However, that (failure to disclose) is
not forward-looking statements failing to materialize.
Forward-looking statements are statements concerning possible future news, future revenues projection, potential market opportunities, timelines, etc that are in the presentations, conference calls, AGMs, sedar filings etc.
Basically, the company described itself in the best light possible.
The responsiblity of investors is to know not only the potential rewards, but most importantly to estimate the risks, and act sutiably to their own risk tolerance.
(imo, it's not company's responsiblity if an investor exceeds their own risk tolerance due to their inexperience of the stock market).
I agree totally with your sentiment that they '
should have known' and '
could have done' better (i.e. spending extra few millions in 2013-2014 on RCTs instead of on the so-called 'proof-of-concept' open-label studies.
However, hindsight is perfect.
Personally, I find thinking of 'how I can do better next time' is more useful than regretting 'how I should/could have done better in the past'.
Perhaps the same is true for Prometic (i.e. they need to do better in the future).