I listen to the conference call for the trial results and must confess that IMHO, the excuses were pathetic!
Hedrick stated that 51 patients met the statistical standards and if they had a larger patient sample, they feel that they would have met the requirements to satisfy the the desired trial outcome. OK fine! So why didn't they figure this out beforehand?
Hedrick also stated that this would have provided them with a good phase two for knowledge on how to screen adequately for the patient sample and sample size for a phase three trial. Moot point since you rolled the dice for this on a phase 3! Once again, why didn't you figure this out before hand? How much effort would it have taken to consult a stat expert before you decided to bet the house?
Hedrick stated that this provided them with excellent knowledge for the upcoming French phase two. OK, since you shot the wad so to speak and blew the FDA trial, now you want to fall back on the French again. So what does that do for U.S. patients? I know, they travel to Europe with hope of approval if it comes there and pay huge sums out of pocket since U.S. insurance will not pay for it without FDA approval, considering the therapy to be experimental. More pressing in current time, how do you propose to fund this French trial since you mucked up the FDA phase 3 and tank the stock while totally destroying the company's credibility?
As Franshei has said, Hedrick needs to go, if he doesn't go, the BOD needs to reconsider his 600K per yer salary because his performance definitely dictates otherwise.
On another note, softball questions from Kolbert of Maxim at the end sucking up were totally worthless.
*OK fine! So why didn't they figure this out beforehand?*
I remember years ago, when I had some hope about this company... Same kinda questions came up and we thought he is just dumb or inexperienced. However, since 2014 I am convinced, that this is his "game"... his charm if he was a used-car salesman... He always buys time (a year at a time).
He has been milking this cow for 10 years now... in 2014 I predicted the price will reach 1-2 pennies (pre RS)... we are almost there... last year I predicted this company will be zero in a few years... We shall see.
This technology just doesn't work... years ago a doctor told us all, but we didn't listen... Instead we listened to these experts. Most of which have disappeared since.
It was a nice game they played years ago, but he just cannot stop anymore... good people keep paying him to play the same trick... can you blame the guy? he has kids in school!