Thursday, March 13, 2014

Analyst calls out Aveo CEO on earnings call

After numerous clinical failures and a stock price that has lost over 75% of it's value in the last twelve months, Aveo's leadership (if that designation is appropriate) plans to use the $118 million in cash at the end of 2013 to invest in an early state compound that's not going to see human trials until 2015 and attempt to "partner" their later stage compounds which have thus far been failures.  Hats off to Brian Klein at Stifel, Nicolaus, & Company for asking the question that everyone else is thinking and see the response from the companies "leadership". 

Brian Klein - Stifel, Nicolaus & Company, Incorporated, Research Division
Okay. I guess, last question then is, was there ever any thought between you and the Board to essentially shut down all clinical activities that are being sponsored by AVEO and just out-license all of your products and return the cash and anything else you'll get from partners back to investors?

Tuan Ha-Ngoc - Chief Executive Officer, President, Principal Financial Officer and Director
Obviously, we're -- as we defined our strategy together with the Board, we have looked at all the past value creation. And obviously, that's our responsibility, to look all the various paths. And we agree, together with the board, that the path that is outlined today with our strategy will present the optimal path for value creation.

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