Theralase Technologies Inc. V.TLT

News: CEO Exits

[made2last]

https://ceo.ca/@nasdaq/theralase-announces-leadership-transition

[gonefishing2022]

THIS IS GOOD NEWS JOHN TAKING OVER WILL GET THE COMPANY MORE FOCUSED..THIS EXPLAINED THE SHARE PRICE DROPS

[Vikingstock]

IMO, Shawn's meager agm performance, was probably a reflection of things to come. Will need further DD on new guy, beyond the release.

[valueman1]

Replacing Ceo can't hurt. At worst I would think a neutral change. At best, we finally get someone to move this ship ahead in a meaningful way

[Vikingstock]

I hope they focus on the trials. Looks like he has been brought in for the laser division, temp ceo. I don't think most investors are here for the laser division. Better hire a seasoned pharma c eo to get the trials done and compounds to martket or sell the company.

[Eoganacht]

It looks like he was hired for the new COO position whose mandate was to bring about triple digit revenue growth of the Company’s current medical devices. I'm guessing Shawn quit or was let go this week and John Trikola has agreed to also fill in as interim CEO until they find a new one - just like Arkady Mandel did when Roger had to step down as CEO.

[stocksnbonds458]

For me this is non news as I dont care about the laser division whatsoever, whether triple growth or not. In fact, it could be more of a negative with regards to curing cancer, as part of the company's focus will be directed to laser development and sales. Regardless of what they say, with finite resources this can easily distract from clinical trials and research.

[stocksnbonds458]

Furthermore, I assume this is the dig development that sosaks broker was referring to lol.

[CancerSlayer]

  Definitely looks like a business-oriented hire to help drive sales for the cool laser division.  Despite Shawn's perceived shortcomings, his bio indicates he was the primary/sole expert in drug & clinical trial development who also has had plenty of experience in dealing with regulatory authorities.  Though his departure (resigned, let go?) may end up being a positive

[Eoganacht]

Right. As of right now Shawn Shirazi is the only member of Theralase's Cinical Research Team. As of tomorrow at 5:00 pm there will be no Clinical Research Team. Unless, of course, we get a news release tomorrow morning announcing that a clinical research coordinator has been hired.

[Johnandrose22]

Could there be a potential buy out of the company’s clinical division? Thus, the renewed focus on the laser side? Admittedly, this news release has me grasping at straws. John

[Pandora]

Much like I was going to say. Is this shuffling a preamble to a complete change which is a follow up to the silence and the lack of insider trading. Many have been suggesting a reorg of some magnitude -- maybe, just maybe, these are steps one and two. It would be nice if we now see some follow through. No need to replace the CEO at this time if there are bigger things happening. I would think

[tamarindo1]

https://youtu.be/f42YGUKinJ4 :-))

[tamarindo1]

John has a Master of Business Administration from Western University, is a Certified Management Accountant, and holds Master Certificates in Project Management and Engagement & Strategic Leadership from Schulich School of Business at York University. He previously served as Global Vice President Sales & Marketing at Beta Systems Software and as Vice President Business and Corporate

[CancerSlayer]

  At least Shawn & John both attended York University, but there the similarities end.  To be honest, with such a skeleton crew (re: research coordination), lack of communication skills with shareholders may not be enough to let someone go.  However, lack of effective communication with the FDA would is a different story.  

[99942Apophis]

CancerSlayer wrote       At least Shawn & John both attended York University, but there the similarities end.  To be honest, with such a skeleton crew (re: research coordination), lack of communication skills with shareholders may not be enough to let someone go.  However, lack of effective communication with the FDA would is a different story.   Hi

[99942Apophis]

sorry Amir

[CancerSlayer]

  What a day...house plumbing flood, irrigation pipe flood, etc. then got this news.  LKSKI certainly can provide guidance & thanks for pointing that out.  The trial protocol is now set & the trial is pretty much running on autopilot.  Progress will certainly can be made w/o Shawn's presence.  My primary concern is having the ability to communicate

[riverrrow]

The last time I owned a company where top management had a MBa from Western University the company went bankrupt. I hope TLT fares better. GLTA.

[AmirKingKhan22]

I don't think this is a good sign. Regardless of his shortcomings Shawn had an impressive CV.  He did give the company credibility.  If the company wants to market themselves as anti cancer at the speed of light, they need a ceo that has a pharma background as most anti cancer companies do.  They should know this.

[stocksnbonds458]

Amir, I think you are correct that it is not a good sign.

[CancerSlayer]

Agree Amir...would feel much more confident having a Pharma background CEO (interim or otherwise) in place.  This latest hiring hopefully indicates that one is shortly on the way, but not soon enough.  Otherwise, such an unforeseen hiring doesn't make a lot of sense when your future relies so heavily on cancer drug development.  This is certainly not your normal affairs

[2b7f6fab]

This post has been removed in accordance with Community Policy

[CancerSlayer]

A happy/confident/performing CEO wouldn't exit "prior" to his big payday (buyout)...

[Longholder99]

My bet is he got sh*tcanned. I dont know if he had many shares but this slump couldve had something to do with shares being dumped as well as the market slump we have been in this last couple days.

[Eoganacht]

If he was let go why didn't they have a replacement ready? The new guy is not a good fit for CEO of a company in the middle of a pivotal phase 2 trial. He looks like a good fit for the cold laser division and it would be great if they got that part of the business to pull its own weight. But as of right now, who's running the trial?

[CancerSlayer]

  Hi Eoganacht...I guess you took my statement literally.  I wasn't suggesting Shawn was a happy/etc. CEO...imo, he was quite the opposite & likely resigned is my guess.  The concern is not only FDA/regulatory body communications, but who the heck is going to write a clear/concise release re: interim results/scientific updates or even a quarterly newsletter for that matter

[CancerSlayer]

  LOL...not to say that the previous news releases/data readouts were clear & concise.  Are you retired or looking for work Eoganacht?  I'm still under employment, but honestly, I think either of us could be good "writing" substitutes ; ).  Though eloquent in his writing, they shouldn't hire Fred unless they feel we all have a lot of time on our

[Eoganacht]

Hi CancerSlayer - I'm retirement age but I'm still dragging the tired old corpus back and forth to work every day. But I think you would be a great fit writing Theralase's technical reports! Maybe you could take it on part-time...

[CancerSlayer]

Unfortunately, I'm getting old & tired too.  Maybe I can muster up the energy for technical writing "editor" ; ).  After reading those CSC requirements you posted, I'm not at all surprised it isn't filled atm.  Seems this could be one of those underpaid, underappreciated jobs assigned to one, but meant for two...good night & let the data speak.

[Oilminerdeluxe]

Never is one allowed peace. Well, I guess the next update will be revealing.

[AmirKingKhan22]

Say what you will about Shawn but he wasted no time in updating his LinkedIn. I first though he was canned but I think it was a mutual breakup. How would the new CEO explain the results of the trial to partners, investors etc?  He doesn't have the background or the street cred.  

[socksnblonds642]

He's an accountant by trade no? He definitely wasn't brought on to discuss trials or work with the FDA. Wonder if his track record is brokering partnerships. I agree with the speculation on the board that maybe a partnership is in the works. A company that has FDA and trial expertise. Hence the need for just a coordinator,IMO. 

[Eoganacht]

Hi CancerSlayer - I agree Shawn probably resigned. If he was let go Theralase was remiss in not finding an appropriate replacement. Judging by the duties and responsibilities listed in the ad the clinical study coordinator has a lot to do and I doubt that Shawn has kept up with it all since Sharath Jakkani left the company. I hope they hire someone soon. The CSC will be responsible for: 1) Primary

[CancerSlayer]

  Makes sense that a CRC would already be hired or is in the process of being hired, especially if Shawn left on unfriendly terms.  If this were an amicable exit, I imagine he would assist with any needed/trial-related transitions in the interim (as a consultant)....but this was not explicitly stated.  In my opinion, he more than likely did not leave on the best of terms

[skys1]

I for probably one, am pleased. Can anyone tell me something that went extremely well under the tutelage of Shawn? Two trials that were botched? A  PP financing that was a complete amaturished debacle? Did anyone feel enthused or encouraged after listening to Shawn discuss anything regarding the company's performance or future? The last AGM in my opinion was a complete embarassment. Be

[menoalittle]

>> Can anyone tell me something that went extremely well under the tutelage of Shawn? nope, apparently not.  nor do I recall seeing that he ever owned more than 5000 shares of stock (which btw, he evidently sold today, probably at the open @.19)  

[Rumpl3StiltSkin]

Sorry just catching up this morn. So this guy John Trivolta is our new CEO? Is be Bipolar? as NDD as going on about? Does he have a good medical background? I need my coffee.... ;-)