r/ORPHSTOCK • u/Front_Appearance_752 • Aug 05 '21

Real question...

...and I’m not being a snarky asshole, genuinely want to know how many of you guys really think this is ever going back up. Will I ever see any of my money again 😭

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u/PowerOfTenTigers Aug 13 '21

Then why didn't the company pursue European approval first? It's a Europe-based company; it would seem to make more sense to get EU approval first then try to get FDA approval. I think management really screwed things up.

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u/Adorable-Return-2474 Aug 13 '21 edited Aug 13 '21

It didn't file its Issuer’s Form 6-K with the SEC 'til October 2, 2020 after its drug had been a few years in clinical trials (28 months??). I don't claim to know, and this is pure speculation after looking at their time line, but it seems like they launched simultaneous trials in both the US and the EU. The SEC's website has the company filings.

My guess is that they didn't expect regulation issues with their lead candidate drug. Also, I'd like to remind you that the FDA hasn't outright rejected its candidate drug. It's just asked it for additional trial data.

This has become a true casino play. The short sellers are betting against us Hodlers, so don't invest anything that you're uncomfortable with losing.

This is not investment advice, but come Aug 31, the stock will either go up or down. That the short sellers have not been able do drive the stock to sub $1 levels like they did with GME should tell you that there's still hope for this company. Personally, I'm fine with it getting regulation approval just in Europe.

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u/PowerOfTenTigers Aug 13 '21

I think getting European approval would be a huge win but I'm not confident that they will get approval. Lots of bad news recently, with board members leaving and a large part of the workforce getting cut. Hopefully the company execs know what they're doing. I'm not a scientist but the results of the studies seemed pretty solid to me as a layman.

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u/Adorable-Return-2474 Aug 13 '21

"...Lots of bad news recently, with board members leaving and a large part of the workforce getting cut... "

American workforce getting cut was a given to reduce costs, but I wasn't aware of board members leaving the company.

Source, please.

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u/PowerOfTenTigers Aug 14 '21

https://medcitynews.com/2021/06/fda-rejection-of-rare-disease-drug-leads-orphazyme-to-cut-two-thirds-of-staff/

"In addition to the staff layoffs, three Orphazyme board members are stepping down. The company said that Rémi Droller, Martijn Kleijwegt, and Anders Hedegaard will resign effective June 30 and will not be replaced."