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I don’t have much of a respect left for Ken. I gave him benefit of a doubt but that disappeared quicker than snow flakes in May. All I ask now is a conference call and some explanations. Am I asking too much?
Most likely, the costs of NEO are too high based on preliminary data. Recall they had mfg issues before starting the 1st dosing. It looks like these issues were not resolved completely.
Phase 1 is not to evaluate efficacy of the drug, thus I do not believe the efficacy or the lack of thereof was the reason for the termination.
The company must have been blindsided by this decision to terminate, thus, no CC at this point. They say in 8-K they would re-evaluate whether to re-partner or not. It would be very hard to, and instead they need to focus on HOT if they stand any chance to survive.
Survival of the company is at the stake now. Ken needs to step up and do some explaining here. Tomorrow should be a good time to do so.
Now that the is valued at zero, what is the value of HOT? If not zero, then it pretty much dropped by a factor of 10. Something went wrong? Or did someone screw the things up? Regardless of what some here say it’s Advaxis’s move to cut the cord, I think it was Amgen who pulled the trigger after seeing some very bad things.
This termination PR should have been followed by a statement regarding a CC tomorrow, and they did not. It’s the most telling thing, as the silence is now deafening. They appear unwilling or not ready to say anything. Do they owe us an explanation at very least? You bet.
Pissed and angry as hell.
I am afraid we are done. That’s a proverbial nail in our head. Amgen bailing, and likely will dump their shares.
Scary thing is the company did not set up a conference call to explain anything. Is Ken back from his vacation? Not sure, but he is going to take two separate companies into bankruptcy within a year. Wow, just wow...
He could be right, but in reality nobody knows for sure. We are at the mercy of inept management.
Frankly, I have been waiting for any positive news for so long, I just realized that the last time we heard anything positive was more than 28 months ago. I keep checking a news line every morning just to be frustrated.
Hope dies last.
I watched CBS Nightly News yesterday, and I thought this episode could have been about me. Maybe, it will be about me next time. Getting pretty close with the way Adxs is trending.
@wmtgreeter
https://www.cbsnews.com/news/i-blame-myself-retirement-remains-out-of-reach-for-millions-of-americans/
Yeah, just when you thought you reached the bottom, someone knocked from below.
How many “this is the bottom “ proclamations have we heard in the past 3 years? You know the answer.
Time to rename the company to Advansix, or AdvanceX? Maybe, just a triple 6?
Algos cracked his code:
"SALE CONTINGENT".
We shall see HFTs in reverse soon once AIs are re-programmed.
Raja,
I was not talking about a new proxy. Form 10-K is an annual report, and it was filed on 12/21. Just wanted to see if any milestones are received, and, of course, wanted to see the cash burn rate.
Proxy is expected in 5 weeks from now.
Wednesday morning tidbit:
in the past 25 trading days, there have been only 5 green days. The share price lost 37% of its value during that time.
#sad
Expecting 10-K to be filed sometime this week. I got a hunch it will be Friday after the close.
1/10th of that money would make you an insider. Don’t miss this once a lifetime opportunity. Gold is gold, even if 007.
That’s rather simplistic view. Then, let me ask you, what was the reason for insider buying back in June? The dominant explanation on this board was that the share price would go up as we were very close to an inflection point touted by the management early this year. I disagreed with that reason saying there might have been a banal reason for those buys: order from the BOD chairman strongly supported by a new CEO. Ok, not a direct “order”, let’s call it a “friendly suggestion “.
There is much more going on behind the closed doors that we are not privy to. Things could be much worse or much better than they appear— we just don’t know. The company is shrouded with unnecessary secrecy. This leads to all sorts of speculation. Only insiders know what’s going on in NJ. And they’re not happy as they keep reducing their stakes in the company.
He also plays a 3D chess game with big pharma executives. Unfortunately, the outcome is the Fool's Mate for him.
Since Ken is back from his vacation right after the Christmas time, I expect there'll be news this year. As for 2019, the first meaningful news will be filing of Schedule 14A aka a proxy statement (late January '19). They'd ask for roughly 120M new shares, and request for an authorization of a reverse split. This proxy will tank the stock by about 30% and then we will be patiently waiting for PSA news to be released late February/early March '19. If the news are not great (and the company would know before it's released), they'd try to issue another 2ndary before the PR. That would be another proverbial nail in our collective head. No NEO news would matter if that were to happen.
It could have been us...
Still preclinical, but BMY will take a stake in the company. Trains are passing us at a full speed, and we are stuck somewhere on tracks.
#Sad
https://www.businesswire.com/news/home/20181209005013/en/Bristol-Myers-Squibb-Vedanta-Biosciences-Announce-New-Clinical
NEW YORK & CAMBRIDGE, Mass.--(BUSINESS WIRE)--Bristol-Myers Squibb Company (NYSE:BMY) and Vedanta Biosciences today announced a clinical trial collaboration to evaluate Bristol-Myers Squibb's programmed death-1 (PD-1) immune checkpoint inhibitor Opdivo in combination with Vedanta Biosciences’ VE800, a rationally-defined human bacterial consortium, in patients with advanced or metastatic cancers.
In conjunction with this collaboration, and subject to the completion of due diligence, the negotiation by the parties of definitive transaction agreements and the receipt by Bristol-Myers Squibb of all requisite approvals, Bristol-Myers Squibb currently intends to make an equity investment in Vedanta Biosciences. Vedanta Biosciences will maintain control of its VE800 program, including global R&D and commercial rights.
He’ll think about a possible resignation once he’s back from his vacation. Thanks for suggestions.
Sunday afternoon tidbit:
Adxs share price dropped from $6.70 to $0.38 since the DOC resigned on 07/06/17. That’s a 17-fold reduction in price just in 17 months.
Who thought it would happen that quickly. I didn’t.
I got a news for you -- the company management has covered their collective a$$es via safe harbor statements. What you consider "lies" are technically considered as "too much risk, did not work out..." in plain English. Yes, the company has been secretive and misleading about certain aspects of their business, but provide us with a single evidence that was a blatant lie which can be proven in the court of law. I hate this (and before that) management, but lawsuits at this point? I'm not sure there is any ground for these.
PS. I'm not a lawyer, and don't play one on TV. I'm just a poor @wmtgreeter.
That confirms that DOC signed a NEO deal on extremely unfavorable terms for Advaxis. Amgen bought really cheap long term options (leaps) virtually derisking their investment in ADXS. If NEO fails, they lose a bare minimum, but if it works, they stand to gain enormously. The milestones they pay to Advaxis are going to be subpennies for every dollar they make with NEO.
Thursday afternoon tidbit:
If we keep dropping 5% daily, we are going to be $0.29/share by the time Ken's back from his vacation on 12/17.
If decides to stay for one more week on the Islands, we are to see $0.23.
@wmtgreeter
Thursday morning tidbit:
Advaxis current MC ~$28M
Sellas current MC ~$42M (50% higher than ours).
Our market cap used to be 8 to 10 times higher when we signed a partnership with Sellas back in February '17:
https://www.sellaslifesciences.com/investors/news/News-Details/2017/Advaxis-and-SELLAS-Announce-Licensing-Agreement-for-Development-of-WT1-Antigen-Targeting-Immunotherapy/default.aspx
We were supposed to combine LM delivery method with their WT1 targeted heteroclitic peptide antigen mixture to an IND stage and then Sellas should be taking it to the clinics while we sit and wait for our $358M windfall. So, where is this partnership now? It looks dead to me -- Advaxis no longer mentions it, whereas it still on Sellas web site listed as "partnered".
This morning Sellas put out a good PR about TBNBC, and they keep moving forward without their "loss" and out "gain" Dr Andres A. Gutierrez, who was a CMO for Sellas before joining us a CMO. Life can be a bitch...
Short interest down by another 348,161 shares. Great job by Ken, and a great time to start his vacation!
Settlement Date Short Interest Avg Daily Share Volume Days To Cover
11/15/2018 2,494,731 531,789 4.691205
10/31/2018 2,842,892 740,112 3.841165
10/15/2018 3,091,473 526,034 5.876945
I think Ken did an unbelievable job last night! This presentation at the nano cap companies investment forum marks another great milestone for Advaxis and positions us for a great year to come!
Despite some prolific posters expectations, we did not get slammed after Ken’s talk. That’s a great sign, and I surely expect we could see Hudson Bay taking a big position in this company once Ken is back from his vacation. I hope their average position would be above $0.19/share considering triple warrants they normally take.
Ken will be further reducing a cash burn by limiting the number of employees to five, thus, the cash runway will be extended by 96 days which would be provide a sufficient time for HOT data to mature.
I would not mind if Ken makes more than 500G next year, as long as I recover my initial investment of $147.39 and walk away from this fatal attraction.
@wmtgreeter
Ken,
Thank you for your hard work and your relentless passion to overhaul this company and lead us all to the promised land. Your last presentation was one of the best things that happened to this company, and it reiterated the potential of what is coming soon. Enjoy your well deserved vacation and have a great time on the Islands!
Ken will be taking a long deserved vacation starting this Thursday. His travel destinations include Bermuda and Cayman Islands. I wonder why the latter? Any connections with CVI investments? Hmmm...
“your sense of justice!”
————————
He is missing a sense of equality. Sad...
By 2021, Advaxis will be on the 6th CEO, expecting 4th reverse split, and this message board will be celebrating 1,000,000th post. Life will great!
Friday afternoon tidbit:
Cyber week has now been extended. It’s now a cyber year. 90% off discount coupons will be mailed soon. They will be valid starting January 1, 2019.
If it’s 0.25, yes, we are not too far away.
G-d help us all.
A fish always rots from the head down.
There is little chance that the head could be replaced any time soon. The body has started decaying some time ago. It may be too late to stop the decay let alone to reverse it.
We need DOcember.
Dew already mention about this presentation, and here we go...
Not the news I was expecting, but it is what it is...
PRINCETON, N.J.--(BUSINESS WIRE)--
Advaxis, Inc. (ADXS), a late-stage biotechnology company focused on the discovery, development and commercialization of immunotherapy products, today announced that Kenneth A. Berlin, President and Chief Executive Officer of Advaxis, will present a corporate overview at the 11th Annual LD Micro Main Event on Tuesday, December 4, 2018 at 5:00 p.m. (Pacific). The conference will be held on December 4-6, 2018 at the Luxe Sunset Bel-Air, California.
Mr. Berlin’s presentation will be webcast live and available for replay in the Investors section of the Company’s website at www.ir.advaxis.com.
As usual, it's going to be more than new shares authorization: new compensations packages for the top management, and a request to retain the super-performing BOD intact. I also hope that they would not request an approval for free lunches and dinners for the company employees who work from 10am till 6pm.
I thought you were talking about the share price moves -- down 8% again, day after day. Scary predictable and scary boring, Zoltie.
If you are trying to sell the share price does not matter "now", you find some other spot to pitch your views. The share price matters as the company keeps running out of conventional options to raise money -- any secondary has now become almost fatal at these price levels. No sane fund would participate in the secondaries, the floodgates have now been open the the most vicious predators. Our gashing wounds have not healed yet from the previous raise, and we would not survive one more blow.
To those who keeps buying here -- either you are too smart, or too stupid. We shall see very soon, no later than the end of January '19.
Yes, we've got it. No need to tell us three times.
There's no way if we hit the lowest levels. Folks were saying it's a bottom at $6, $4, $2, $1, and now at $0.43. Nobody knows for sure, but probabilities of going up from here do not look very good.