Will we have enough money for fund Trulance for 2018?

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anonymous

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I’m not sure what to think here. We’ve borrowed $300M from some WallStreet bank, with some strings attached. What happens at the end of January is sales are still sluggish and we don’t have enough funds in the bank for that CRG loan, what is a CRG loan anyway? I know my 12-15 RX’s per week isn’t even paying my salary. Just wondering when the shoe is going to drop..Anyone else worked at a small biotech where they had financial problems, what happened? I came from Big Pharma, where money was never discussed because they always had billions in cash reserves.
 




anonymous said:
I’m not sure what to think here. We’ve borrowed $300M from some WallStreet bank, with some strings attached. What happens at the end of January is sales are still sluggish and we don’t have enough funds in the bank for that CRG loan, what is a CRG loan anyway? I know my 12-15 RX’s per week isn’t even paying my salary. Just wondering when the shoe is going to drop..Anyone else worked at a small biotech where they had financial problems, what happened? I came from Big Pharma, where money was never discussed because they always had billions in cash reserves.
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The scenario until D/day will be to stay focused, work hard, we’re over the hump and momentum is on our side. Rumors will be flying around that we have numerous buyers bidding for us. Then,
2, maybe 3 mos. later, we’ll all be gone.
I retired 3 yrs ago, and have gone thru this scenario twice. Was able to make a few bucks from bonus and stock. It doesn’t hurt me like most, I got into start-ups to keep busy and maybe find the next Amgen or Genentech, make a bundle on stock and continue working until I get sick of it and play golf and sail everyday.
For those of you hoping for a career here, or any start-up, I suggest you keep your resume current, keep one foot in the door and the other outside, and be ready to stay or walk quickly either way.
 




CRG LLP is the investment syndicate which, back in early September, announced that they were lending Synergy $300 million. The first tranche consisting of $100million @ 9.5% interest, the second, third and fourth tranches to be extended later subject to Synergy meeting certain unspecified conditions, covenants, timelines, etc. In fact, the terms of this loan were not revealed until they were [posted with the third quarter results, almost 2 months later. It's my contention that the terms can never be met, which will result in Synergy's bankruptcy, which will result in CRG owning all of Synergy's property, intellectual and otherwise. I agree with previous poster, keep your resume active; this ship could sink very soon.
 




anonymous said:
CRG LLP is the investment syndicate which, back in early September, announced that they were lending Synergy $300 million. The first tranche consisting of $100million @ 9.5% interest, the second, third and fourth tranches to be extended later subject to Synergy meeting certain unspecified conditions, covenants, timelines, etc. In fact, the terms of this loan were not revealed until they were [posted with the third quarter results, almost 2 months later. It's my contention that the terms can never be met, which will result in Synergy's bankruptcy, which will result in CRG owning all of Synergy's property, intellectual and otherwise. I agree with previous poster, keep your resume active; this ship could sink very soon.
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I trust management. Especially with Tax Reform being passed, this is the place to be at. Bright skies ahead.
 




Not only will you need another $100m+, all monies borrowed will have to be paid back. The script trajectory is a joke compared to ironwoods launch and not nearly enough to cover what is being spent.

Weak beta male sales management not Gary is to blame.

Bringing on the contractors full time was a lethal mistake.

Happy Holidays!!!
 




the company cash burn is 50-60 million per quarter. Trulance earned 5 million last quarter. Do the math idiots. This ship is sinking and will be sunk by June at the latest.
 




anonymous said:
I trust management. Especially with Tax Reform being passed, this is the place to be at. Bright skies ahead.
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And you probably believe Hillary is as pure as driven snow and innocent of all accusations.

Santa is coming to your house, too.

Gotta love your enthusiasm, though, and hope, for your sake, it all works out for you.
Me, I’m gone at the first good opportunity that presents itself.
 




anonymous said:
The scenario until D/day will be to stay focused, work hard, we’re over the hump and momentum is on our side. Rumors will be flying around that we have numerous buyers bidding for us. Then,
2, maybe 3 mos. later, we’ll all be gone.
I retired 3 yrs ago from Big Pharma and have gone thru this scenario twice. Was able to make a few bucks from bonus and stock. It doesn’t hurt me like most, I got into start-ups to keep busy and maybe find the next Amgen or Genentech, make a bundle on stock and continue working until I get sick of it and play golf and sail everyday.
For those of you hoping for a career here, or any start-up, I suggest you keep your resume current, keep one foot in the door and the other outside, and be ready to stay or walk quickly either way.
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Pretty clear that we are burning through cash at a much faster pace vs incoming sales. Not good. I don’t see anyone partnering with us and my Drs don’t see as best in class. Just reality.
 




anonymous said:
Pretty clear that we are burning through cash at a much faster pace vs incoming sales. Not good. I don’t see anyone partnering with us and my Drs don’t see as best in class. Just reality.
Click to expand...

Holiday time, sales always down. By end of Jan we’ll be kicking ass again and the bucks will be rolling in.
Be positive, we have the right management, the right reps,and a great product primed to break out as best in class. The bucks will soon be rolling in.
Happy N Y, everybody.
 




anonymous said:
Holiday time, sales always down. By end of Jan we’ll be kicking ass again and the bucks will be rolling in.
Be positive, we have the right management, the right reps,and a great product primed to break out as best in class. The bucks will soon be rolling in.
Happy N Y, everybody.
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Actually December is a high volume month. In January new deductibles kick in and we have to deal with all of that noise.

You are obviously drinking the turbo Kool-aid. Mine wore off a long time ago. This company is all smoke and mirrors and full of false promises,and I bought into all of it with high hopes - bad call on my part . Live and Learn..
 




anonymous said:
The scenario until D/day will be to stay focused, work hard, we’re over the hump and momentum is on our side. Rumors will be flying around that we have numerous buyers bidding for us. Then,
2, maybe 3 mos. later, we’ll all be gone.
I retired 3 yrs ago, and have gone thru this scenario twice. Was able to make a few bucks from bonus and stock. It doesn’t hurt me like most, I got into start-ups to keep busy and maybe find the next Amgen or Genentech, make a bundle on stock and continue working until I get sick of it and play golf and sail everyday.
For those of you hoping for a career here, or any start-up, I suggest you keep your resume current, keep one foot in the door and the other outside, and be ready to stay or walk quickly either way.
Click to expand...

Very well said. I, too, came here hoping for the golden apple. It isn’t going to happen. The change in CEO solidifies that direction of a buyout. No one will get rich on this endeavor but if you are smart you will use this momentum to look for a new position. I have heard that around 10 people resigned since the new year. The company would be wise not to back fill but absorb the territories.

Good luck to all.
 








anonymous said:
Holiday time, sales always down. By end of Jan we’ll be kicking ass again and the bucks will be rolling in.
Be positive, we have the right management, the right reps,and a great product primed to break out as best in class. The bucks will soon be rolling in.
Happy N Y, everybody.
Click to expand...



The right management in place? Well thanks Maryanne for your perspective. What a delusional response.
 




anonymous said:
Holiday time, sales always down. By end of Jan we’ll be kicking ass again and the bucks will be rolling in.
Be positive, we have the right management, the right reps,and a great product primed to break out as best in class. The bucks will soon be rolling in.
Happy N Y, everybody.
Click to expand...


You haven’t kicked anyone’s ass ever, you’re bleeding cash, monthly nrx growth is still anemic, the ibs c launch will be a huge flop, and all initial insiders/financiers have bailed.

Happy New Year!
 




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