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Wow, how long will lamer Bob have a job? Aug 9 ER should seal his fate

Frank Baldino

Guest
Hi all,

Well, Christina Hung from Goldman called it right at the March investor call when she asked if our management was going to change including #BullshitBob himself! Hahaha! I hope she shows up on the Aug 9 investor call.

The 'CEO of the Year' (who's never launched a successful commercial product in his life) has managed to tank the stock from a high in the upper $ teens to just about a buck today. Market cap is only just above $50 million. Investors are angry. We have class action lawsuits against Bob, Stan and Jeff for alleged SEC fraud. The Arymo ER launch is a disaster (what do Pat and Mark do exactly?). Sprix and Oxyado are yesterday's products. Our FDA relationship sucks so we can't get extra claims for Arymo nor Oxyado and the world is silent on 002.

So, when do you think #BullshitBob will get axed?

"The Guardian Technology platform is designed to make pills more resistant to physical and chemical manipulation, but Egalet's first approved product utilizing Guardian Technology, Arymo ER, did not receive all abuse-deterrent designations for which they were hoping. This could lead to a very slow stock price recovery for Egalet as much of their pipeline is reliant on Guardian Technology, which now seems like it will not be able to stand out in a crowded market."

Where do we go from here?
 




Welcome back Frank! How you been? I left Egalet in April. It was going down the shitter then. Morale in Wayne sucked. Bob wanders around with an obvious short man Napoleon complex. His eyes are at my tit level. Really creepy. Anyway I landed at Teva. Much better environment. I look at this board occasionally.

I'll guess he'll get fired shortly. Arymo is a disaster and stock value dropped 75% since the beginning of the year.
 




So I joined Egalet about two years ago as part of the 'rent to hire' sales initiative and was lucky enough to be taken on full time. I'm more than confused. We got stock, which is now underwater, and seemed to be on the cusp of the 'good life' in January when our lead product was approved and we celebrated in Nashville with Pat and the team. Then we ran into a brick wall - FDA issued a clarifying letter, class action suit, FDA rejected extending withdrawals on two new strengths of Oxyado and finally Guardian Tech ain't seen as abuse deterrent.

We all know sales are falling well short of expectations that's why Bob cunningly did a $30 million capital raise a couple of weeks ago. I got to give it to him he's a shrewd survivor. But I wouldn't invest in this company and I think we'll see stacks of folks desert this sinking ship soon.

That's my two cents.
 




Stan and Barb are both tight lipped and serious. Very tense here at home office. Earnings report next week and sales suck. Susan, Bob's assistant, is getting his personal stuff together in a box for his exit on the 9th.......including that old motivational poster ;) :eek:
 








So my manager is on my case about TRx numbers. So what's up? We're behind budget by 16%, so who's fault is that? Have the HQ guys and gals to thank for not getting the AD claim. Just saw that our stock closed at 1.14. I thought that I joined a winner. I don't think that Radie can last much longer. Sad - nice little guy.

Wonder who'll be the new leader? Stan? Mark? Dayno?
 




So I joined Egalet about two years ago as part of the 'rent to hire' sales initiative and was lucky enough to be taken on full time. I'm more than confused. We got stock, which is now underwater, and seemed to be on the cusp of the 'good life' in January when our lead product was approved and we celebrated in Nashville with Pat and the team. Then we ran into a brick wall - FDA issued a clarifying letter, class action suit, FDA rejected extending withdrawals on two new strengths of Oxyado and finally Guardian Tech ain't seen as abuse deterrent.

We all know sales are falling well short of expectations that's why Bob cunningly did a $30 million capital raise a couple of weeks ago. I got to give it to him he's a shrewd survivor. But I wouldn't invest in this company and I think we'll see stacks of folks desert this sinking ship soon.

That's my two cents.

1. Okay Rent-A-Rep, congrats for coming of age. You see the light...still feel lucky? The fact that it tool you two years to realize that your company is in a downward spiral is a testament to the quality of the employees within Egalet and why you don't hire Rookies to launch a bloody company. If you're a shitty sales person then go sell copiers. If you're not shitty use this as a springboard to get into a real pharma company that isn't the laughing stock of small pharma. This company runs it's corporate strategy like a fantasy football league.

2. The absolute toilet bowl shit swirl that your company is in has little to do with the FDA. Products get denied additional indications or the FDA requests additional information ALL THE TIME. This company is a failure of management from the top down. They took a bunch of green rookies and asked them to sell products with zero payer access in the most difficult market in America with a "shit-can if you don't do as I say" culture. They brought a somewhat decent product to market with zero access for 80% of the patients whom the product is prescribed. All failures of corporate leadership, they made decisions. And the decisions they made were poor. Zero strategy. Zero business acumen. Zero leadership. It's not you're fault that you got suckered into a black hole mate but use the 7 brain cells you have left to get the hell out before you have you explain to another prospective employer why you didn't have a strategic enough mind to GTFO before the shit went down.
 




So my manager is on my case about TRx numbers. So what's up? We're behind budget by 16%, so who's fault is that? Have the HQ guys and gals to thank for not getting the AD claim. Just saw that our stock closed at 1.14. I thought that I joined a winner. I don't think that Radie can last much longer. Sad - nice little guy.

Wonder who'll be the new leader? Stan? Mark? Dayno?

Budget? What about the insurance managers who didn't do their jobs and as a result the company is under water because we pay for most of the scripts that come in? All commercial script get a copay override and the company eats the cost if the insurance doesn't pay for it. Which they DO NOT because the company has no other access for Sprix, no official ADF designation for Oxaydo, and a shitty label for Arymo. Duh, of course insurance won't pay because on top of that formulary discussions should have been happening 2 years ago and now everyone is looking around asking "WTF happened?" Theyre hemmoraging.

Companies can come back from lot of shit...but the grave that Egalet has dug is to deep.

Investors will yank what's left of their pennies on the dollar and the company will dissolve before the end of the year. Nail is in the coffin just waiting for the final blow.

~EP
 












Downsizing to be announced on Aug 9th. #BullshitBob has no other alternative. Company can't carry on losing $25 million plus per quarter. Shea's and Lindhart's jobs are in jeopardy, Strobeck is Bob's buddy who he personally helped during his divorce (Strobeck allegedly abused his ex wife) so he's safe for the moment. Bob has to blame both his commercial and R and D heads for their multiple failures and incompetency. About time this shit show came to an end.
 




SPOT ON, REFER TO POST BELOW FOR FURTHER CLARIFICATION

We have the people at the Egalet Ivory Tower to blame for this failed company. Let this be a warning to all future startup pharmaceutical companies.

If another pharmaceutical company is selling one of their drugs for the low price of 7 million (dirt cheap in the pharma world).....it's probably for a good reason. RIP SPRIX

If a big pharma company has the rights to a "blockbuster drug" and doesn't bring it to market for "unknown" reasons and is willing to sell the rights back to the creator of the drug .....it's probably for a good reason. RIP OXAYDO

If you want to go cheap on the sales force and hire a bunch of B2B reps with no pharmaceutical sales experience to relaunch two drugs that other pharma companies wouldn't touch with a two foot pole .....you get what you pay for. RIP SALES PERFORMANCE

If you want to layoff reps at your leisure and create a culture of fear and negativity.....you reap what you sow. RIP COMPANY CULTURE

Egalet will be forever remembered as the example of how not to start and run a pharmaceutical company.

RIP Egalet 1995-2017

1. Okay Rent-A-Rep, congrats for coming of age. You see the light...still feel lucky? The fact that it tool you two years to realize that your company is in a downward spiral is a testament to the quality of the employees within Egalet and why you don't hire Rookies to launch a bloody company. If you're a shitty sales person then go sell copiers. If you're not shitty use this as a springboard to get into a real pharma company that isn't the laughing stock of small pharma. This company runs it's corporate strategy like a fantasy football league.

2. The absolute toilet bowl shit swirl that your company is in has little to do with the FDA. Products get denied additional indications or the FDA requests additional information ALL THE TIME. This company is a failure of management from the top down. They took a bunch of green rookies and asked them to sell products with zero payer access in the most difficult market in America with a "shit-can if you don't do as I say" culture. They brought a somewhat decent product to market with zero access for 80% of the patients whom the product is prescribed. All failures of corporate leadership, they made decisions. And the decisions they made were poor. Zero strategy. Zero business acumen. Zero leadership. It's not you're fault that you got suckered into a black hole mate but use the 7 brain cells you have left to get the hell out before you have you explain to another prospective employer why you didn't have a strategic enough mind to GTFO before the shit went down.
 




I used to sell testosterone patches to FL grey market steroid clinics. I know nothing about the pain control market. What did you expect? A success??? Hahaha. My next gig is as a sales clerk selling smart phones at Verizon wireless in King of Prussia Mall.

Pat.
 




I used to sell testosterone patches to FL grey market steroid clinics. I know nothing about the pain control market. What did you expect? A success??? Hahaha. My next gig is as a sales clerk selling smart phones at Verizon wireless in King of Prussia Mall.

Pat.

That is so funny!

Radie, Shea and Dayno - Egalet's Three Stooges! Appearing in a homeless shelter near you soon!
 




I'm really worried about my job. Thought I'd joined a dynamic start up. Not so, we're in real trouble. What happens if we go under $1 a share? Someone told new that we get 'delisted', does that mean we're bankrupt? Do I owe the company money if the shares they gave me are worth less now?
 








I'm really worried about my job. Thought I'd joined a dynamic start up. Not so, we're in real trouble. What happens if we go under $1 a share? Someone told new that we get 'delisted', does that mean we're bankrupt? Do I owe the company money if the shares they gave me are worth less now?

We all are worried about our jobs. Anyone in sales, marketing or R&D should have their resume out there. On Tuesday Radie will announce cost cutting measures and downsizing.

Don't worry if your incentive shares are under water, you don't owe anyone anything.

Good luck in your job search.