Thursday, May 22, 2008

Response Genetics' CEO Dresses for Success

President and Chief Executive of Response Genetics, Inc (RGDX-$3.33), Kathleen Danenberg, received $525,000 in salary and bonus last year, according to a company filing May 20.

What caught the eye of the 10Q Detective, however, was the $114,673 in "All Other Compensation" paid to Ms. Danenberg, which included a personal expense allowance, clothing expenses budget, and miscellaneous personal services (manicures, pedicures, and facials?) of $12,000, $86,622, and $4,051, respectively.

Since the Board of Directors will not point it out, it falls to us to remind Ms. Danenberg that she does not work for an apparel retailer.

For the first-quarter ended March 31, Response Genetics generated revenue of $1.9 million in sales of its proprietary analytical pharmacogenomic cancer testing services of clinical trial specimens to the pharmaceutical industry, specifically to Glaxo SmithKline and Taiho Pharmaceutical—all companies where the attire is tailored more to white lab coats than to $1,950
Dolce & Gabbana Duchesse dresses.

As of March 31, 2008. Response Genetics had an accumulated deficit of $22,045,161.

Editor David J. Phillips does not hold a financial interest in any stocks mentioned in this article. The 10Q Detective has a Full Disclosure Policy.


Anonymous said...

Interesting "article"...but what about a micro-cap caught your attention? It's not like there aren't MILLION$ perks for large-cap stocks out there.

Your article doesn't really say much except suggests that you are sexist and don't mind slinging mud. It is also pretty damning evidence as to why you left (forced to leave?) disciplined equity research for unpoliced web-based "publishing".

(FYI, I'm a man and still offended by your "work".)

Anonymous said...

Interesting find...but what about the filings of a micro-cap caught your attention when there are MILLION$ in truly ridiculous perks out there for large-caps?

Based on your borderline slanderous parenthetical, it's pretty clear you are a pretty sexist guy.

Maybe that crap worked on Wall Street but at least there your pubs were scrutinized. It's fairly doubtful there is any editorial process for this crap and you might just have invited legal action - nice move.

Anonymous said...

Kathy's a wife and mother, by the way: so drop the "Ms." pretense. Secondly, it's your duty to report that she's fully reimbursed Response Genetics.

David J. Phillips said...

I am an equal opportunity exhibitionist.I would not hesitate to expose male chief executives spending shareholder monies on personal clothing, too.

If you read my blog postings on a regular basis, you would know that I do not discriminate based on gender...or race...or religion... or sexual orientation.

Anonymous said...

"...personal services (manicures, pedicures, and facials?)..."

" remind Ms. Danenberg that she does not work for an apparel retailer."

"...$1,950 Dolce & Gabbana Duchesse Dresses."

No, you're not sexist. You're just another oblivious and politically-incorrect white male.

You might consider pointing that incredible microscope of scrutiny on yourself some time. I think the post above about possible legal action is perfect.

Anonymous said...

I follow Kathy Danenberg's work. When you save as many lives as her personal genetic research has, then you can bark about her cosmetic habits. There is a reason she is simply known as "Kathy" in the world of oncology and specifically, to the cutting edge oncologist... she is to diagnostic testing and targeted cancer treatment what Bono or Madonna have been to music and entertainment. Stop throwing mud and join us in applauding her contribution to humanity.