I was a full-time actor/host/writer but switched to voice work when Covid hit; and now the industry I loved has changed. I also no longer get to work with people as much, and do not feel like I’m helping others as much as I hope to. I want more purpose and human interactions.
Stock volatility reflect the chaotic management style. The short term or daily investors welcome this since they can experience stock price changes within a few percent almost every day. As in old saying, chaos can provide opportunity.
The stock dropped 4.27% today after the yesterday announcement of 170 person layoff. This demonstrates lack of investors confidence in the company management. The company must reshuffle the top management ranks to convince investors that positive changes are coming. Example can be recent cutting off several R&D projects - clearly telling investors that company was pursuing wrong goals. Who was responsible? Layoffs should proceed across the whole organization.
Today the company announced laying off 170 employees. This was predictable and earlier posts indicated such possibility. Beware, this is the first round. More would come. Possibly you were told that your team would not be affected and then you suddenly learned about being on the list. This is the dreadful management style here, keeping you in the dark and throwing under the bus.
Time that this should happen to such management as well. Let's consider proposing names in this forum of the worst managers who should be gone asap. Btw is brinda staying or going? Or g and g? or h? You know who.
BioMarin said it’s wrapped up a pipeline review and will stop investing in four experimental therapies because they don’t meet its threshold for patient impact and commercial opportunity.
Two of the discontinued programs, BMN 355 for long-QT syndrome and BMN 365 for PKP2 arrhythmogenic cardiomyopathy, hadn’t yet been tested in humans. The other two, BMN 331 for hereditary angioedema and BMN 255 for a certain kind of liver disease, were in early stages of clinical testing, according to a BioMarin presentation for investors in September.
BioMarin said its full pipeline will be subject to “ongoing assessment.”
At the same time the investment community considers Roctavian as a commercial flop.
All this indicates restructuring that will negatively affect large number of employees, as well as long term investment community. Prospects for being acquired could also diminish.
Our vascular division seems to deal with the same challenges every few year, without resolution. Each time we hire a new set of incompetent mid-level managers to espouse their unique solution. By unique, I mean same old shit they think they’ve created.
After a long time at this company, we’ve reverted back to the bottom of the cess pool for management talent accompanied by what’s already been in the cess pool.
Is Biomarin a candidate for takeover?
The attractiveness of a company as an acquisition candidate depends on various factors beyond just its financial metrics. To provide a rough estimate, let's assume a P/E ratio of 65 and a market capitalization is ﹩17 billion.
To calculate the annual net profit that would make the company attractive, we can use the formula:
Market Capitalization = P/E Ratio * Net Profit
Rearranging the formula, we get:
Net Profit = Market Capitalization / P/E Ratio
Using the given values:
Net Profit = ﹩17 billion / 65
Net Profit ≈ ﹩261.54 million
To make the company an attractive candidate for takeover with a market capitalization of ﹩17 billion, a P/E ratio of 65, and sales of ﹩2 billion per year, it would need to generate an annual net profit of approximately ﹩261.54 million.
How could it get there in 2024?
Expect layoffs.
