BDSI – Money Losing Opioid Company Founded By The Bankruptcy Experts

We are short BioDelivery Sciences International (BDSI), a money losing opioid manufacturer that is connected to Dr. Frank O’Donnell, Jonnie Williams’ long-time business partner.

  • Dr. Frank O’Donnell and Jonnie Williams are business partners whose companies have a 30-year history of stock wipeouts, SEC investigations, shareholder lawsuits, and even bribery of a governor.
  • BDSI engages in questionable business practices similar to Insys & Purdue Pharma – co-pay cards for free opioids; paying suspect doctors; and convincing doctors to increase dosage.
  • However BDSI is different from other opioid companies in that they burn through cash hand over fist.  Over $6.5m of negative Free Cash Flow from Operations per quarter!
  • 10-K disclosure around the Teva settlement shows that a generic Belbuca could be coming much sooner than management has indicated.
  • Cherry Bekeart (of MDXG and EBIX infamy) is BDSI’s auditor.
  • Insider Selling – Investors should sell when Frank does, and he is selling!  Broadfin Capital who joined the board in 2018 also filed to sell 100% of their stock which is 17.4% of BDSI’s float.

BDSI Report – Money Losing Opioid Company Founded By The Bankruptcy Experts