Many biotechs await readouts and are faced with cash flow challenges. Their CEO’s, the good ones at least, manage the uncertainty that Wall Street has in an effective manner as not to loose all enterprise value prior to the next event.
R has failed miserably, which should not be a surprise based on his lackluster resume. He’s never been accountable to anything close to this while at Amgen or Ipsen. This was not the time nor the company for the ‘grow into the role’ hire.
“We” did this to ourselves.