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I hope so! I wasn't sure if we were limited in what we can announce. I suppose that's solely for the contract itself, after a milestone has been met with the contingent payment transferred, we should be able to PR it if we choose.
However, if it's only a meager payment, maybe we won't see a thing. Looking forward to something.
I agree. This is the most logical explanation, fairly low volume, yet no one wants to believe it. It's mind boggling. ADXS is still a risk no matter what way you look at it. Cash is still a concern. I wonder if they're allowed to announce the milestone payment or if we have to wait until next earnings? If it's a big number then they need to find a way of announcing it. Wish this was done at the beginning last week so we had an idea...
To say they're willing to cease funding on our lead candidate, unless a partner is found, is a great development. At least now we'll see what its actually worth. That's a big step and a massive change to the product that has mostly driven the value of this stock to date. It's another form of selling the beech...
Since no one here actually knows the real value of AXAL or why a deal hasn't been done - you have to wonder if that's not the case. Our new CMO/CEO decided that even after 100's of millions spent and years of development, its still not a worthy investment (internal) over funding 2 brand new drugs just leaving the incubation chamber. Truly amazing. The reality of AXAL is still up for debate.
Not directly - but by rationalizing their internal spending based on whether or not a program will bear fruit in a timely manner (AXAL), they were able to cut the burn rate down to $50 million a year. With $50MM in the bank, funding will still be a looming issue near term, but at least Ken was able to extend the runway out a year for this filing/call. They need a deal/funding for HOT..
I like the new CEO so far. Straight and to the point and continually reiterated the importance of value and time. THANK GOODNESS!
Ken mentioned a CMO as the greatest asset to expediting the process from discovery to getting into clinical and realizing the necessary data to produce value. WOW - what have we been doing all this time without one!?
It also makes you aware of how amateurish our prior management teams have been, IMO... makes me sick to my stomach to think of all the waste that has gone on over the years.
To a new ADXS!
Which is what a portion of us here have been pushing for since last year. It's so sad it's taken them this long to enact anything meaningful on the burn rate. Complete waste of capital for far too long. At least he's doing something is right.
I think people on this board get more upset with board members that perpetuate unrealistic time frames than the company itself, IMO. Appreciate the honesty. The company has been clear on an expected time frame from the start...
Amen! Couldn't agree more. Yet we see nothing of the sort. I'd be completely fine waiting for more results if need be (or EMA decision), but cut the da*n costs.
I tend to agree with James on this. We don’t know why he was fired. It could have been over something as silly as a childish squabble. Sindrasky wanted to make a point and fired him on the spot. There was obviously very little planned post Doc and we’ve paid dearly for it. Ironically, the spending, RSU’s, and non merit based raises continue today despite Dan’s removal. If for nothing else, Dan was certainly an Advaxis cheerleader and a strong spokesman for the company.... which is something we could use a little bit more of right about now.
That's a fair question and I personally think it's tied to funding. ADXS has proven they'll dilute down here. I think advaxis needs to produce something tangible and accretive to prove they're able to go the long haul. I do think risk/reward is extremely low right now and if/when they strike a reasonable deal, this will take off. How high is another question altogether. Back to the high singles would be nice.
Its been said multiple times that the two aren't related at all. It should have no bearing on the starting of NEO. It takes 8 weeks from biopsy to the manufacturing of the product. That could very well be part of the "delay".
Where's our CFO!? How could a company at this juncture, staring down a perplexing cash/financial situation, not have a CFO? I suppose Ken can handle most of it (controller?). Still boggles the mind...
HAHA - so true! Always an excuse!
At these levels no one should be taking a vacation. IDC if its updating presentation slides or working on new pitch decks, something has to change. Hopefully Ken is brushing up on his knowledge of our science so he can at least make a successful pitch to BP and convince them that LM is worth the investment. So far no one has been willing to bite at whatever price levels ADXS is searching for. Ughhh.
20$ million for NEO dosing would be incredible, relatively speaking. 20 million would have bought 20% of the company the other day.
Serious question - is this based on any precedent? Most credible people I've heard say it probably won't exceed 5-10 million, if that even. Just curious if you've heard different...
It's certainly self fulfilling. How comical is it really...
This exactly ^
Waiting on the EMA decision is fine, but how do we get there in the interim? ASCO data is out, doesn't sound like much will be added at the presentation. NEO pre-clinical data out. HOT pre-clinical data out. Share price is still in the doldrums. If a deal is planned, it's going to have to be soon or dilution at these COMICAL levels is a definite risk. Isn't that what the share price is partially showing?
https://www.investors.com/news/technology/amgen-biotech-companies-pipeline/?src=A00220&yptr=yahoo
Title: Why Amgen's In Trouble — And Should Take Notes From Biogen, Celgene
"In Amgen's case, the inability to identify which programs might offer that upside, particularly for a company of this size, reinforces our belief that Amgen must commit to significant business development activity to expand its portfolio or its pipeline,"
I'm still curious why a deal hasn't been done yet. Where's the disconnect? Who is holding out? To what benefit?
I'm sure you would have assumed a deal by now was a sure thing..what gives?
What piece of information am I lacking about a potential going concern issue if he doesn't raise cash soon? The last raise was at 2$.
I hope he has something waiting in the wings and ready to be signed.. Yes, I'm worried nothing has been said yet, why should I not be?
Ken has to get the strategy out NOW. He has to close a cash deal before another dilution is required [almost NOW].
Wow.
We agree, shorts owned the stock. No one here should be surprised by that. There could be a debate on the reasons why though. That's all.
Unfortunately, I tend to agree, there's just not enough buying pressure. At least nothing strong enough to counter whats happened since the equally manipulated spike back in 2015.
RSU's have no strike price. Their positive value is independent to the performance of the company and I know Ken got 250k of them. I believe our CMO got options only, Ken got some as well, and those are currently above water.
Strong management can sell great science, as well as mediocre science.
Poor management can only sell great science.
I agree with your statement regarding stumbling into the promised land. Lets continue to hope this is GREAT science and not the latter.
While it's exciting he's involved, reality is they spent 3 million dollars out of a 3 billion dollar fund to take a stake in this company. He bought in at the absolute ground floor. I'd like to know how much he's truly risking and how much weight people will actually put on this. I hope he buys more.
The company needs cash and needs it quickly, that's reality.
Haha - I'm sure a few LTS here wouldn't mind throwing a few dodgeballs around... or maybe a few wrenches.
When the worry of another dilution is behind us and we have some breathing room. I'd have to say it's pretty clear why LTS are concerned here...
I also wonder why they have over 100 employees!? It has to be a cost/benefit analysis. What benefit are these employees bringing - I honestly don't know? I used to think it was tied to the New Jersey Economic Development Program (min headcount requirement or something) where ADXS gets money from the state, but that is about selling NOL tax credits to other businesses.
So confusing when you have that many employees while also diluting at 2 bucks.
Harumph! Welp, once again it sounds like we don't know what we have yet. Without knowing how pembro is solo, its tough to understand our contribution/synergy. I will say that not knowing pembro data does bode well for us as it must not be very positive. I suppose we did learn ADXS-PSA mono is out the window.
Interested to see if there's any price movement tomorrow...
Haha, yeah. You have to wonder sometimes...
Looks like 2.1k shares traded after hours - definitely funny business. I just glanced at it initially. Seemed like a substantial drop considering. No worries here.
Down 15% after hours according to yahoo... something leak or just more late night funny business?
I agree. Lets hope for a swift recovery followed by a renewed interest in the company by the investment community. This company needs to get back in the spotlight and quickly. A strong deal or two would help expedite that...
Completely, shorts won, ADXS misjudged their ability to raise cash prior to their need to make an offering. I think we're getting lost in the minutiae of all this. I don't agree with your conspiracy that ADXS was in cahoots or did this due to Jefferies floating an idea their way about payments to shorts. The shorts winning wasn't predicated on a deal, its the outcome of ADXS stewardship/failures.
A shorts plan doesn't preclude someone's ability to make a non-dilutive deal or find investment elsewhere, otherwise shorts would always win.
My conclusion was this was a cash play, pure and simple, and the primary impetus for the offering. I get you're trying to conflate the 2 as one and the same. By your definition every secondary offering is an homage to shorts and a "payment". To each their own.
How is that any more reasonable or likely than what I wrote previously?
This is a conspiracy theory to explain away the poor performance and outcome of selling shares at all time lows - why 10 million shares at that? In addition, ADXS conducting itself in the way you proposed is more than shady, its reckless and incompetent. You've admitted the company needs cash! I fail to see how this not a direct cash play due to uncertainty and lack of a deal. Shorts don't limit a companies ability to go seek investment from other funds and/or licensing deals with BP's.
Isn't that an extreme conflict of interest? Sell 20% of your company at all time lows and let us help you on that. That is not rational advice and there's no evidence that this would help unless they (ADXS) were in on it. These conspiracies help the narrative that this was all planned, yet the most obvious answer should be the right one. Uncertainty was rampant, a late stage deal fell through, going concern issues were coming up, thus they sold enough shares to mitigate that problem and maintain a reasonable cash balance. Not to mention they tapped the ATM prior to this, they were obviously looking for cash. All IMO.
Oh the irony.
Yes - and the X factor is people will be too scared to start a trial with ADXS for fear of getting a listeriosis infection from LM-based products. Copy.