Enough is Enough- Steve needs to go

anonymous

Guest
This company's market value has only temporarily hung out above 40 a share based on hype, future deliverables, and never fundamentals.

Every time a deliverable that is expected of Steve the stock tanks. He talks about accountability to every employee except the one that occupies his office suite.

This has been nearly a decade long employment of eroding shareholder value.

Even worse that outsiders and investors are clueless about= the inside of this company is equally a mess, full of toxic culture, and turnover.

On Steve's C level team- what position has been stable? CFO- nope, been through 3 under Steve. CCO- nope, been through 2 and still recruiting a new one. CMO- that's a no. Pattern, perhaps?

There's more. If you know, you know. Fill out that bingo card yourself.

He has added debt, run good people in and out of the company, can't run a trial right, but can change office spaces twice for show. The time to perform has come and gone.

The sales revenue slide has not moved up since launch. In fact, in 2018 and 2019, it dipped while "revenue" leaders focused on company cars and new roles then actual results.

The acadia house is in disorder. Enough is enough
 












There is no question that Steve was not and is not a commercial stage ceo.

Another example of when you replace a clinical stage ceo, you need to swap with an experienced commercial one. The Baker bros went with someone they could control. Results should not surprise.

Bigger question in play. Does the board goes through a search or use this as a reason to sell the company?

Pipeline slide is all show. This is a pipeline in a product company but the product keeps failing trials.

Acadia has raised and burned more billions in its time than it's all-time-high market cap. It's burning $25M a month, say its got $375M left, it has 14 months left with no catalyst to raise more cash without painful dilution to shareholders.

By late August, rumors about a bank shopping the company followed by a deal. Steve will drive off in a new Bentley no worse for wear. You won't get a ceo failure story.