Post by
Ciao on Nov 27, 2023 11:53am
Failure to advance the pipeline expeditiously - AV trial
The slow walking of this AV initiative is a joke.
This AV initiative was in play before 2018 with the effect of AV on exercised induced inflammation (recall Quaker Oats / Pepsico came knocking on Ceapro for concentrated AV for a study by the University of Minnesota). It was said to be in a clinical stage (ref. 2018 investor presentations). More recently the protocol was delayed by a full year for the breakthrough (it is not a breakthrough and quite common) thought of combining a phase 1 with a 2a study, with approval for the study finally given by Health Canada in Dec. 2022. From the April 12, 2023 NR, "Phase 1 part of the study is expected to be completed by year end."
Then it was delayed again as a novel way was needed to:
"...complete development of a bioassay for the “live” analytical measurement of avenanthramides in blood and urine during the hospital stay of healthy subjects. Testing AVS in urine has never been done before and this newly developed test requires standardized stability data."
Yes, a one year delay in the protocol for the study and they didn't have the foresight to consider what testing they would need for AVS in the human body.
We understand the importance of being first to market with a product. As another poster pointed out, we've likely have lost that advantage (and the moat) with Symrise announcing a competing product this year.
We need a CEO who understands the importance of advancing the pipeline with an expeditious timeline instead of a laissez-faire approach.
Comment by
lscfa on Nov 27, 2023 11:59am
How old is Gagnon? Is there a succession plan in place in case this geezer kicks the bucket?
Comment by
ZoranSto on Nov 27, 2023 2:22pm
Todays NR is not vey different from other ones years ago....so much talk by Gilles and never any deals and now even the solid base business is NOT solid...he needs to retire....I am surprised the BOD have not acted yet. There is so much evidence of his failure to move the business forward. The long delay in Q3 is surely indicating a very poor Q3....
Comment by
Ciao on Nov 27, 2023 8:38pm
The problem is that CEAPRO is his retirement job. Where can you garner an annual salary of over $500K and work remotely from home. He has enough people working for him on day to day operations of the base business. His involvement is mainly limited to research and trials and we've seen the results; no commerical partnerships or licences of PGX applications.