When I read Luke Timmerman’s interview this morning with ISIS CEO Stanley Crooke my immediate thought was “uh oh”.
When public company CEOs become frustrated with the media or stock market response to what they think should be good news they tend to increase the volume. In this case, Mr. Crooke, disappointed with the market response after releasing the Phase III results of mipomersen back in May, upped the volume by saying mipomersen represents the third “remarkable” drug he has developed. The other two were cisplatin and cimetidine (Tagamet), both game changers and both blockbusters.
Mr. Crooke has been involved in the development of 19 marketed drugs so he should know. However, comments like this, true or not, have a tendency to set unrealistic expectations in the marketplace. And they could get you in trouble down the line with shareholders if things don’t pan out as expected.
Tempting as it is to show real excitement over a drug’s potential, CEOs ( plus CFOs and whomever else is responsible for communicating to the street) need be reminded again and again to stick to the script and let the data speak for itself. Having said that, I hope Mr. Crooke is right.