The call

[Anonymous]

Anyone else think that Cooper sounded like a total nervous idiot on the call today? He better pull it together before the webcast tomorrow.

Does anyone have ANY confidence at all that JC can get this deal signed with a "strategic partner"? I think not.

Thanks for nothing, JC. You and TM managed to run this company into the ground. It took 20 years to get Surfaxin to market and less than 2 years for you to kill it.

Have you ever brought a drug to the hospital market?
Have you ever been a CEO of a biotech company before?
Have you ever been in a hospital setting and taken the time to understand the processes involved in formulary consideration?
Have you considered resigning so you don't kill Aerosurf?
Your bad decisions have effected SO many lives. 11 months ago you put 12+ people out of work, now 10 more who will try to figure out how to survive without a check and how to pay for COBRA insurance for their family.
Do you care to guess how much COBRA costs for a family?
This launch didn't fail because of a lack of financial resources, it failed because you never took the time to learn about the surfactant market, the institutional setting and then merge this knowledge and information to develop a solid commercialization plan.
How many company calls did you hold to communicate regularly with the sales force - at least for your benefit - to keep you finger on the pulse of the market?? God forbid you actually go into the field with a rep. I will tell you how many....ZERO. You showed up for a 1/2 day of the CBR, spewed a bunch of rambling nonsense and left.

You were never engaged in the success of Surfaxin. Perhaps financially, but never did you take the time to see what the reps needed to be successful. You let TM run around like a rabid monkey acting like he knew what was best with no accountability. When his forecast was off by more than 80% at launch, wasn't that a small hint of how unfit he was for his job? He set us all up for failure and you let him. Shame on you.

At this point, a man of character and integrity would step down acknowledging his shortcomings. Never is that trait more important than now. Aerosurf can save the lives of so many babies - but only if it makes it through Phase 3 trials. Step aside and let the big boys do their job and get Aerosurf approved AND successfully launched. Oh, and PLEASE take TM with you. Do the right thing.

 

[Anonymous]

A few questions for you....


Did you ask the questions on the background of the leadership here beofre you took the job?

Did you ask the questions on the experiences, previous companies, theraputic areas of leadership before you took the job?

Did you speak directly with customers who both purchase and Rx the competitors to your product and future product before you took the job?

Did you ask research on linked in the marketing experience of the marketing team before you took the job?

Did you do research on the any of the previous 8 times (yes 8 no exaggeration) this company tried to get this drug approved or launch this into the market and got denied?

My guess is you did not do ANY of the above because if you had you would have run far and fast from this company. A large part of your lack of success here is not only with the Mgt but the person who you see when you look into the mirror. Your judgement and ability to provide a full and comprehensive assessment of a career/situation is extremely poor and now you are looking for a scapegoat and someone to shoulder the majority of the blame. Well, you have your 10K increase in measly base salary with a specialty start-up. How did this venture work out for you chump?

 

[Anonymous]

So right on. Shame is how JC and TM should feel. Shame that the BOD never examined the idiocy running the show. Shame on the BOD for allowing these two fools to have anything to do with even simple things like forecasting. And by the way, JC told a non-truth on the call today: when asked if he thought the price point was set correctly from the beginning, he said yes. Bullshit. We all knew it would never sell at that price. Never. Had they priced SXN appropriately, 100s of sites would be using, and paving the way for market share and familiarity with KL4, prepping for Aerosurf liars, liars, liars. But they will be vested in their options, get to keep their jobs (at which they no little), and make more mistakes.

Anyone else think that Cooper sounded like a total nervous idiot on the call today? He better pull it together before the webcast tomorrow.

Does anyone have ANY confidence at all that JC can get this deal signed with a "strategic partner"? I think not.

Thanks for nothing, JC. You and TM managed to run this company into the ground. It took 20 years to get Surfaxin to market and less than 2 years for you to kill it.

Have you ever brought a drug to the hospital market?
Have you ever been a CEO of a biotech company before?
Have you ever been in a hospital setting and taken the time to understand the processes involved in formulary consideration?
Have you considered resigning so you don't kill Aerosurf?
Your bad decisions have effected SO many lives. 11 months ago you put 12+ people out of work, now 10 more who will try to figure out how to survive without a check and how to pay for COBRA insurance for their family.
Do you care to guess how much COBRA costs for a family?
This launch didn't fail because of a lack of financial resources, it failed because you never took the time to learn about the surfactant market, the institutional setting and then merge this knowledge and information to develop a solid commercialization plan.
How many company calls did you hold to communicate regularly with the sales force - at least for your benefit - to keep you finger on the pulse of the market?? God forbid you actually go into the field with a rep. I will tell you how many....ZERO. You showed up for a 1/2 day of the CBR, spewed a bunch of rambling nonsense and left.

You were never engaged in the success of Surfaxin. Perhaps financially, but never did you take the time to see what the reps needed to be successful. You let TM run around like a rabid monkey acting like he knew what was best with no accountability. When his forecast was off by more than 80% at launch, wasn't that a small hint of how unfit he was for his job? He set us all up for failure and you let him. Shame on you.

At this point, a man of character and integrity would step down acknowledging his shortcomings. Never is that trait more important than now. Aerosurf can save the lives of so many babies - but only if it makes it through Phase 3 trials. Step aside and let the big boys do their job and get Aerosurf approved AND successfully launched. Oh, and PLEASE take TM with you. Do the right thing.

 

[Anonymous]

Your post is ridiculous for several reasons.

1. The leadership team that was in place when hired was different when the drug was actually launched, therefore any research in this regard became null and void.
2. Yes, I did ask Neonatologists and RT's what their thoughts were on Surfaxin prior to joining DSCO and the response was positive. Of course, this was always followed up with even more excitement about Aerosurf.
3. Really? Research the marketing team? Marketing changes quite rapidly in Biotech and Pharma companies as it's usually a stepping stone to something else, so give me a break with researching the marketing team on LinkedIn. That's ridiculous.
4. Searching lucinactant in the public domain offers info on DSCO filing NDA in 2004. Not much else is available and truth is, Charlie Cochrane made the decision to let DSCO commercialize Surfaxin 25 years ago.

I will certainly admit that the difficulties DSCO had bringing Surfaxin to market should have been a red flag, but I really didn't join the organization for Surfaxin. No one did. Everyone sees the potential in Aerosurf and the chance to be part of something revolutionary.

The notion that JC is being "scapegoated" is nothing less than laughable. Who are you? His mom? His wife? JC is anything but a victim.

How did this work out? It's sad to see such potential go to waste, however, I am glad to have had the experience. There are some really great people at DSCO and I am honored to have worked with several of them. There were some real crazies at DSCO and I am sure that you are probably in that group and were let go at some point.

I just wish everyone well through this process and I am loving how we are all supporting each other and helping each other out as much as we can. Sometimes really good things come from bad situations.

 

[Anonymous]

ROTH Capital:
Okay. Thanks. And I had just one last question with regards to SURFAXIN in the launch process. Were there ever any opportunities to discount that product to try to get faster uptake into the hospitals? I’m just curious how that went.

John Cooper - Chief Executive Officer
Yeah. There are opportunities. But I think you want to be very careful in that market, because it’s not like AEROSURF that would be assuming success and given the competitive position where should it become the first in the market you have an ability to establish the economic value.

The animal derived products have discounted themselves year after year after year after year, to a product that saves the life of a child. So what we’ve done is competitively priced the product so that price does not ultimately get in the way.

The short answer is Yes! We begged for a competitive price but management in their infinite wisdom priced it at $730 GPO. Finally 18 months later reality hit them and they dropped the price to undercut the competition. They are a day late and a dollar short. If Cooper was capable of telling the truth and not BS'ing investors ( and covering for Miller) his answer would have stated such. What a load of spin & crap.

 

[Anonymous]

Please do tell the masses. If you knew the product was doomed, too high of a price, not effective, quality issues, mismanaged etc. WHY THE HELL ARE YOU STILL THERE? You sir/ma'am are pathetic! Last I checked, we are supposed to WORK HARD and support our company, not bash it!

I hope they drop the axe swiftly on the low value extra baggage for being such infants (no pun intended to the product).

 

[Anonymous]

Where is Tom Miller? Have they given him a package already? Maybe a year's salary and an 250,000.00 bonus?

 

[Anonymous]

Your post is ridiculous for several reasons.

1. The leadership team that was in place when hired was different when the drug was actually launched, therefore any research in this regard became null and void.
2. Yes, I did ask Neonatologists and RT's what their thoughts were on Surfaxin prior to joining DSCO and the response was positive. Of course, this was always followed up with even more excitement about Aerosurf.
3. Really? Research the marketing team? Marketing changes quite rapidly in Biotech and Pharma companies as it's usually a stepping stone to something else, so give me a break with researching the marketing team on LinkedIn. That's ridiculous.
4. Searching lucinactant in the public domain offers info on DSCO filing NDA in 2004. Not much else is available and truth is, Charlie Cochrane made the decision to let DSCO commercialize Surfaxin 25 years ago.

I will certainly admit that the difficulties DSCO had bringing Surfaxin to market should have been a red flag, but I really didn't join the organization for Surfaxin. No one did. Everyone sees the potential in Aerosurf and the chance to be part of something revolutionary.

The notion that JC is being "scapegoated" is nothing less than laughable. Who are you? His mom? His wife? JC is anything but a victim.

How did this work out? It's sad to see such potential go to waste, however, I am glad to have had the experience. There are some really great people at DSCO and I am honored to have worked with several of them. There were some real crazies at DSCO and I am sure that you are probably in that group and were let go at some point.

I just wish everyone well through this process and I am loving how we are all supporting each other and helping each other out as much as we can. Sometimes really good things come from bad situations.

Just like you keep making excuses in all of your above posts you continue on with the same pattern and irrational thought process in your above post. I am far from saying Mgt and Exec Mgt are free of blame with the massive failure at this company. I am referring to BOTH previous and current folks in these positions however where does your responsibility fall on your choice to come here, to stay here, to interpret all of the information you "researched" before you signed on? Guess what, I don't work here but was an early small time investor long long ago (got burned) and had a chance to come work here at one point however I did all of my research as I outlined above and took a very quick pass based on my interpretation of what I uncovered. In addition, I have done the same type of research (and more) with every other move I had made in my career and they have all turned out well. Some have called my success lucky I would call it doing my due diligence in today's very unstable pharma job environment.

Keep playing the "victim" role and let others dictate your success and failures in your career and life and you will find yourself consistency on this board, and others, typing the same type of general overall message with every job that goes poorly and every other situation in your life that is not positive. Believe what you like, do what you like, live the life you like, you have to deal with the consequences. Funny how I was able to stay away from this mess and have a very productive career in this industry with several promotions and leadership positioning over the yeas since I turned the job down based on my analysis and you are still here blaming others for your lack of continued success?

 

[Anonymous]

CEO's of public companies should be held strictly accountable to creating shareholder value.
In the same token CEO should be held responsible for a complete disintegration of company, failing along with the BOD to carry out fiduciary duty of conducting sound fiscal policies, controlling expenses, perusing clear and balanced business objectives. The happening just can not be explained by a simple miscalculation as only deeply inept, callous and completely unfit would steer the craft into a mountain in nearly criminal manner. Going and spending $19 million building a marketing arm in the same blindfolded manner as that $500 + million of the shareholders money was let go down the drain amounts to a criminal embezzlement and intentional looting of the company's coffers, the matter the should be a subject of FBI investigation! But as usual Cesar and his self serving and hand picked board are all clean of any wrongdoing, are still gainfully employed after sending 1000's of innocent investors to a poorhouse. No answers, no hint, no jailing of the culprit, no plans, only continues destruction of the stock value and looming BK. Thank you Deerfield, Baker Brothers and others!