Another Chance With Portola Pharmaceuticals: Opinions Of A Former Short

Summary

I would question the accountability and trust of a company that willingly sought approval on treatments they did not even test for.

In the case of AndexXa, I do not believe that Portola can conceivably fail again if they follow my proposition.

Although I’m not as convinced in Portola’s success for their future clinical trials and drugs, it’s almost impossible for them to botch AndexXa’s approval again.

In my previous article about Portola Pharmaceuticals (NASDAQ:PTLA), I predicted that AndexXa would be denied approval. Many did not take this opposing view favorably, which is understandable considering we all have money hinged on what is ultimately an unpredictable, binary decision.

But if we are unable to entertain the idea that we might be wrong, then our discourse towards investing is inherently flawed. My prevailing message last time was that no company is devoid of negatives. In this article, I will again offer a perhaps unpopular opinion, but one that isn't as against Portola's future.

First of all, I do not entirely agree with Portola Pharmaceuticals' almost nonchalant announcement concerning their Complete Response Letter (CRL). I would question the accountability and trust of a company that, so blinded by their product's success, willingly sought approval on treatments they did not even test for.

Incompetence of this degree should not be present in a...