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I agree, Biotech. $30M is for DES. I just think Dr Glickman is keeping his options open with an extra $30M in order to get the best deal in partnering for DES clinical development.
You can always get a better deal when you don’t really need one.
He provided the reason for retirement on the CC. He has six kids and wants to spend more time with the family. As you may recall, he initially retired from the CEO roll two years ago. However, his replacement did not work out. Furthermore, from what I can surmise from past CCs, his passion and expertise is the research and clinical end of the journey and not the commercialization of products. The company needs a business person/deal maker to best deal with the potential dry eye product path forward, etc.
By September, if ADXS decides that no possible strategic alternatives will provide enough cash to run the company effectively on a go-forward basis, then I suggest that the NEO portion of the company will be spun out as a subsidiary; and in turn 51% of that subsidiary will be sold to AMGEN for cash, and the current NEO development and milestone payment plan will be rewritten. The executive slated to leave AMGEN in September will be hired as the new CEO of the NEO subsidiary. Upon successfully engineering this deal, KB will have saved the company without any stock dilution. The deals he has to make just mirror the reality of past management missteps.
Best Guess - Amgen's first payment will occur once ADXS produces "Proof of Concept".
Thx Jesspro, for the heads up.
I will have to check it out when I get a chance.
In my estimation, Richard Glickman conducted the Cramer interview like a Maestro.
He dispensed a lot of important information as an intro and was very candid about AUPH by calling it “a speculative stock”. He showed integrity in that comment which may have instantly endeared him to many of the listeners. People are not used to such candor. He then tells them what they need to study and what they should look for before they buy a stock (such as AUPH). They are many of the attributes which would put AUPH in a favorable light with potential investors when investigated by them.
He then delivered a very measured comment, which went something like, << We have an excellent opportunity ahead of us. There are no guarantees. But, when you look at the risk profile, I think we look pretty good. >>
I was very, very impressed.
Thx Rum for providing the YouTube clip
Contrary to some opinions expressed on this board, I like the way the BOD are being tight-lipped regarding the path forward for the company after the DOC resignation. IMHO, Vague is Good. Look at what an open-book policy including the identification of various timelines during Investor Day did for the stock price. As soon as the shorts & MM sensed that there was little risk of a catalyst to energize the stock price, they savaged it. IMHO, it was the straw that broke the camel’s back regarding DOC’s tenure.
Rather than articulating the path forward, I suggest that an immediate priority of the CEO should be to rein in spending and raise more cash when appropriate; in whatever non dilutive way he can, before the company is in definite need of that cash. Otherwise, any sense of desperation on this front will likely send the stock price much lower in 2018, possibly during a period of risk-off trading for biotech stocks. Thru it all, the science will take care of itself.
I reject the premise that share dilution will be inevitable in order to complete the LN Phase 3 study.
Dr. Glickman can partner or sell off the Japanese rights to Voclosporin for LN and/or DES - with an upfront payment as part of the deal; or DES treatment rights for canines to Merck.
As Pencow pointed out (post 3771), there appears to be more than just potential value in the DES asset based on Merck’s participation in the collaborative research project.
Glickman just has to make the deal before the buyer knows AUPH needs the money in order to get the best price.
IMHO – it appears that the primary concern of the FDA is for the Ph III trial to demonstrate a meaningful functional improvement in the lives of patients known to have LN, rather than as the SA article suggests - a need to meet of some histological milestone or “cure” as shown through a biopsy.
Good find, Lunacy. Thanks!
It appears AF is still on board.
Lost Trader - It appears that ENDO is the outright owner of the rights for Canada, Israel & South Africa; while ILJUN may have China, Taiwan & Hong Kong based on the NRs attached below.
http://www.marketwired.com/press-release/paladin-and-isotechnika-submit-voclera-voclosporin-for-canadian-approval-tsx-plb-1371450.htm
https://globenewswire.com/news-release/2013/02/05/521032/10020657/en/Isotechnika-Merger-With-Aurinia-to-Create-Leading-Nephrology-Company.html
I just found these NRs while fishing around to see if there were any obscure, outstanding warrants or partial ownership by a predecessor company such as Isotechnika that might have some sort of value (a real longshot).
As you probably know Paladin was bought by ENDO. However, now it appears that ENDO is looking to shed non U.S. assets and the chatter on Stockhouse is that Jonathon Goodman, former founder of Paladin is interested in repurchasing all or part of Paladin. So Voclosporin rights in Canada, Israel and South Africa could be sold off by ENDO separately or as part of a package (???).
The 4,586,606 Common Shares purchased by Cheoin Leisure Co. may have just been a rearrangement of the deck chairs if the company is related to Iljin Life Science. Notice the deal reported in the table set out in the attachment below.
https://www.canadianinsider.com/company?menu_tickersearch=AUP%20%7C%20Aurinia%20Pharmaceuticals
I think you are a little light on the share count.
http://www.google.ca/finance?q=NASDAQ%3AAUPH&ei=4Im3WImYBdTGjAGwiaCABA
Don't forget that it trades in Toronto & the NASDAQ.
Welcome to the Denner Groupie Center
Look .... Denner just went to the toilet...
Quick, Buy toilet paper ... it's going to the moon!!!
Earnings Conference Call Transcript
http://finance.yahoo.com/news/edited-transcript-arry-earnings-conference-202858103.html
Two new presentations at upcoming conferences -
http://web.tmxmoney.com/article.php?newsid=5681295617233495&qm_symbol=AUP
Vidpok45 - check out page 36 of the latest (December) corporate presentation for potential revenues - a staggering amount way in excess of $125M.