Rexahn CEO Chang Ahn didn't show up at the Rodman conference. Instead, he sent President Rick Soni, whose halting performance didn't instill much confidence in the company's future.
My mood didn't improve when I switched rooms to listen to Oculus Innovative Sciences CEO Hoji Alimi tout the company's growth potential from the sale of the wound cleanser Microcyn, which is really just common diluted bleach (Ph balanced) poured into a bottle with a nice label. Alimi didn't spend any time during his investor talk discussing the fact that Microycyn's active ingredients are greatly diluted quantities of sodium hypochlorite (0.0036%) -- the same stuff used to keep swimming pools clean -- and hypochlorous acid (0.0025%) -- otherwise known as common household bleach. What Alimi did do, however, was to once again make dubious and unfounded medical claims about Microcyn's wound-healing properties. At one point, Alimi flashed on the screen a gruesome photo of a gaping diabetic foot wound. The patient was saved from having the foot amputated by treatment with Microcyn, Alimi alleged, even though Oculus has no data nor FDA approval to make such a claim. Microcyn quarterly sales remain flat over the past two quarters, despite all the efforts by Oculus to push the diluted bleach wound cleanser/disinfectant into the veterinary, over-the-counter, and international markets. Meantime, Oculus' losses and cash burn continue and the stock is trading near its low for year.
By the time of Hemispherx's presentation, I was really cranky and in no mood for more biotech B.S. My outlook didn't improve after I walked into the Hemispherx room and saw that CEO Bill Carter was A.W.O.L; the company instead sent its "dealmaker" Wayne Pambianchi to handle the presentation. I lasted about five minutes, leaving soon after Pambianchi start to discuss seeking approval for Hemispherx's worn-out-and-tired chronic fatigue syndrome drug Ampligen in Argentina. Argentina? I walked out of the room, hoping the wave of nausea would pass before lunch. --Written by Adam Feuerstein in Boston. >To contact the writer of this article, click here: Adam Feuerstein. >To follow the writer on Twitter, go to http://twitter.com/adamfeuerstein. >To submit a news tip, send an email to: firstname.lastname@example.org.