Hey Red, here is another way of looking at today's announcement...
It appears that all is not tickity-boo when it comes to “closing a collaboration deal” near term. Why do I come to this conclusion? The recent nominee’s background is in pharmaceuticals, not RM devices. Some snarky comment like “could it be that islets can now be packaged in pill form, prior to being placed in a pouch?” is not the (sarcastic) point here. Apologies to Dr. A for letting the frustration surface.
The point is, there is an AGM approaching and there has been nothing other than value destruction since January. Nowhere in the PR does it say that Dr. Azab’s background is in the disciplines of “turn-around” agent or “CEO whisperer” or “IR leach remover”. If he’d been quoted as possessing those qualities as part of his “additional perspectives” that he plans to bring, I think the value of a share of SVA would be up today.
Detached (chilled?) me realizes NONE of those qualities are announced in a news release. Detached (chilled?? really?) me also realizes that there has been plenty of chatter here and on other boards about the LJ/Can-o-worms participation that has paralleled the value destruction from the $2.80’s. If Phillip and Frank see this nomination as an inflection point (and not a pacifying pill), they’d better do a better job than simply announcing the nomination. There is way too much investor distrust from some of us at this point, to not wonder if this isn’t anything more than a “stacking exercise”. You can’t hide behind a BOD nomination gents. Either get this company to a place of value realization, quickly, or there will be more than a few pills popped in June.
DF