A little reality check here. Nice post.

From my perspective Tony exited when Pestell came on board and resources were being diverted away from the HIV platform.

I think Tony was optimistic about selling HIV in the $3-$4 range. To the contrary Pestell sold Nader and the BOD on the broader play and higher potential valuation with the addition of the TNBC Trial (which was supposed to be completed by now). IMO Tony was more realistic seeing a much longer road with Pestell’s strategy and became the odd man out and resigned as Chairman.

Now Pestell is gone and we as shareholders are searching to make sense of his surprising termination. Nader and the BOD must have a very strong case to have made this move.

So what are we left with? Everything minus Pestell and the details as to why he was sent packing. One thing I can tell you is this company is not going BK unless the science fails. If you don’t believe Nader can get this across the finish line then your stuck in a quandary and that seems to be where you and a few others are. No faith in our CEO but not willing to cut the cord because the upside is still there.

Regardless, I understand your frustration Grip. The difference is we weigh the facts differently. I hope you hang tight as I’d really like to tee it up in Vegas when this Novel finally concludes and we have cashed out.

Grip, you sound reactive and far from a person whose judgment I would follow. You state your opinions as something we should all embrace as the truth. From my perspective you have run a muck in terms of the reality of where this company is positioned.

There is one issue here that needs to be addressed and it will be tomorrow on the CC. What was the cause for terminating RP and has anything changed with regards to the TNBC Trial?

Do you think the BOD’s are a bunch of idiots? Have you ever spoken with any of them personally? They know much more than anyone here and they went all in with the TO. I strongly disagree with your rant.

The company announced this July 25 and I was scratching my head when I read this part of the PR. “Dr. Jacob Lalezari for TNBC trial”.

“Conference call for investors and media on Tuesday, July 30, 2019 at 4:00 p.m. ET with introduction to Dr. Jonah Sacha for CURE and PrEP programs, Dr. Bruce Patterson for CCR5 receptor occupancy for HIV and cancer, and Dr. Jacob Lalezari for TNBC trial.”

Should have seen the writing on the wall. Why would RP not be the one handling TNBC on the CC. Little did we know they had already replaced him. IMO Pestell has been on the chopping block for quite some time.

Pestell’s departure is unfortunate but one would assume unavoidable. I’m very disappointed as I felt he was a great story that brought credibility to both the Cancer play and CytoDyn. Now we find out he’s less than we thought. I’m still all in as I believe in the science and Nader’s tenacity but I will admit Pestell’s mysterious exit leaves a bad taste in my mouth. I’m hopeful we can put this in our rearview with some good news.

The saga continues.

Well said LM. Right there with you. Our day will come and it will be worth the wait.

What did Celgene get in return? The numbers sound like what we would like to see happen. The other side of the coin is what was the cost to Jounce?

I think his salary and bennies are not part of the decision making process when it comes to a partnership/licensing/ or upfront payments type of deal. They are separate from each other. I understand people’s lack of patience when it comes to Nader’s compensation package with the SP in reverse.

So we can jump ship and sell or we can see this story through. I know what I’m doing. Complaining won’t change the circumstances.

I have seen many people jump ship in life when they were inches away from the payday. No guarantees but as you know Terd I’m very comfortable with the end game here.

You are correct. We have always been harnessed to tight resources.

The situation is quite simple. It’s not that a deal can’t be consummated. It’s that the terms are not agreeable regarding the amount of ownership being demanded at this point in the development of Leronlimab.

Nader and the BOD is willing to limp on a shoestring rather than give in.

As we all know financing is the elephant in the room. The deals are there, but it’s all about the terms. If the forfeiture of equity doesn’t make economic sense the deal will be shelved.

Personally I think quiet is a good sign. On the other hand the TO extension appears desperate without further news to entice warrant holders. However, the word was some warrant holders missed out on round one and wanted in and any additional funds is a positive.

Many ways to speculate, unfortunately speculation can be a rabbit hole that leads one far away from reality.

I think there is a conference call coming in the next couple weeks that will shed light on where we stand.

Exactly pbor.

Seriously Chump. That’s a new one. “Stickie Stardom”. The supreme compliment from the grand mister “Chump”.

Wow, that’s quite a compliment Luv. I’ll try not to let that go to my head. Correction: I won’t let that go to my head. My wife has me well trained in that regard.

Thx Ahab, our future is bright.

Always good to hear from you Misiu. Your so kind.

Thx Fortuno.

If the average drug the FDA approves takes $1B and 10 years to gain FDA approval, how are we doing?

We are a year away from approval for the first of what I believe will be multiple indications and we are at approximately $200M and six years. Delays and FDA complications is the norm not the exception.

Has Leronlimab failed in ANY way? Regardless of whether it takes 8 months or 16 months to gain FDA approval it seems a lock that HIV Combo approval will be granted by the almighty.

That will pave the way for Mono approval, which has been the unattainable prize within the HIV space. Does anybody here think BP will wait until final approval of Mono before pouncing? With the ability to effectively screen CCR5 density coupled with the discovery of the optimal 525ml dosage, Mono approval is simply a matter of time. The data speaks for itself. Disruption of the HIV space is a forgone conclusion and BP knows it. They also know this is a small company with limited resources, so hence the lack of urgency from BP and our ridiculously low SP valuation.

Then we have the Oncology wild card. TNBC is going to determine just how broad our potential is. First patient will get injected when the variables have been locked down to insure accurate results. The importance of this first P2 to CYDY’s future is immeasurable. I for one am in favor of crossing all t’s and dotting all i’s to give us the best opportunity. I trust Pestell would not place his life’s work on the line without meticulously working through all potential variables.

This is a seven employee operation working around the clock with a very intelligent and savvy BOD. Everyone of these people are in it to win it. They refuse to give this company away and have us, the shareholders backs. This talk of Nader and even Pestell milking there $600k annual gravy train is such BS.

Has Nader been overly optimistic and misleading? Yes to a fault. Does he do this purposely? I think not or I would be out. I, like many have been frustrated much of the time with the manner in which Nader communicates and represents this company. However, I will tell you he’s all in working around the clock to deliver what we all want; the maximum ROI. If there is a suitable replacement the BOD will make the move. IMO the strategy is to instead provide more support for Nader by hiring expertise like Dr.Rae. I think we will see more expertise that replace Nader’s weaknesses. This is not a BOD with their head in the sand.

The money will be raised one way or another and that is the elephant in the room at this moment. IMO the deals are there but they have to meet the parameters that are equitable to the equity that will be forfeited. We can call it dilution, but in reality it is simply the investment necessary to get to the holy grail.

Expectations are connected to ones own rationale. The problem here Fines is you present your opinions as fact. They are not fact they are just your speculative opinions. Just own that instead of continuing with your futile efforts to prove you are right. You have not convinced the jury because your case is based on conjecture and the longer you ride this horse the more painful it’s going to get.

There are more productive ways to utilize your intellect that to rant about your personal disappointment. If I cared to take the time I could compose a much stronger bullish opinion based thesis than your Debbie Downer.

But what’s the point. It doesn’t change anything. The facts remain the same and as Gestalt has pointed out nothing has failed here other than the process not moving as quickly as we would all like.

I expect you will return from the dark side as this story unfolds.

Wow, maybe you should be a screen play writer...lol. Many possibilities based on how one decides to connect the dots - albeit fiction with the facts that are known.

That is my outlook. The downside is we end up giving the science away because of managements inability to execute for $1-$2 per share.

We either make a few bucks or we kick some serious ass because the likelihood Leronlimab will be approved for Combo is 99%. The timeline is the question because Nader is never right on his projected dates.

The TO was a simple decision from my perspective. I spent $32k for 120k shares. If your in the stock and you believe in the science you pull the trigger. I understand the exposure issue but not participating is saying I don’t think the science will be sold for at least $150M.

FDA Grants Face-to-Face Meeting to Discuss CytoDyn’s 510(k) Application for ProstaGene™ Prognostic Test

https://apple.news/A5zhOH0TTQauc2EfQtmgmUA

You nailed it Blue. The toughest part is how does one exit without getting slaughtered like a pig. This will be a welcomed problem as we still have the financing hurdle to clear. That will secure in my mind that it’s just a waiting game. This is anything but a pie in the sky situation - it’s the real deal and the world is going to find out one piece of data at a time until pendulum swings hard in our favor.

Nader catches a lot of heat for his over exuberance and less than optimal communication skills but he continues to focus on the goal and move forward. If it was plausible to replace him with a more effective CEO the BOD would have done so.

For now it’s a wait and see game. This is like reading a novel with no ending, just wish I knew how many pages the book has and what page we are on now.

GLTU my friend.

The silver lining is Group B that tendered controls the cheap shares at 27 cents that are restricted for six months. I doubt many will be dumping when the restriction is lifted.

Hard to say. What’s surprising is the TO had less participation than most expected and the SP is running after the June 12 closing. In hindsight it made sense as it uncovered the reality of what has been keeping a lid on the SP.

As I said before my belief is the Paulson investors are made up of primarily two groups.

Group A accounts for 80% of the Paulson investors in CYDY. This group is only interested in warrant deals and they don’t deviate from their strategy which is too cut all exposure by selling the shares they were forced to purchase to acquire warrants.

Group B accounts for the remaining 20%. This group is made up of people like myself and many other Longs on this board that have participated in the Paulson raises. This group bought into the story and would not sell their shares because they want the maximum number of shares at the lowest price. The warrants drive participation for this group also but for an entirely different reason.

What we saw with the TO was 20% participation. Group B tendered while Group A stuck to their strategy. This is a business for Group A and they are disciplined. Group B is passionate about the story and in it for the home run.

What we are seeing now is a shrinking number of cheap shares available from Group A. We all know what is going to happen when Group A runs out of shares. Couple that with the likelihood that there will be no more warrant backed Paulson raises. This IMO is changing the mentality of Group A’s strategy as they realize the juice (warrants) is going to be cut off.

Add the big picture as to the magnitude of this story and the countless catalysts that are in play and it would seem we are nearing the tipping point in terms of derisking. I’m not saying this is going to the moon in the next month. I’m saying this is headed up because it’s all coming together. Strong fundamentals combined with a shrinking pool of Group A sellers.

Financing is the major catalyst that will blast this to the moon and fuel an organic uplist. Nader knows it, the BOD knows it, and this board knows it. This game is heating up.

Yes, more. I too have substantial exposure but the likelihood of this being worth more than .52 at the end of the road seems inevitable even if things go terribly wrong.

This is destiny. We are not gullible people.

However we understand the risk; Inferior management that you have clearly pointed out along with the untrusting FDA bureaucracy. Other than that it is safe to say there will be no bag holding here.

From my perspective the downside is $2-$3 a share if the above consumes this powerful science.

I’m tempted to go a little deeper.

Indeed. Hope to buckle up soon. Sounds like we are looking to get $20M up front from a China deal. One of many possibilities. I swear if we can get to $40M-$50M in the Bank in the coming months everything is going to explode.

All good points z. We will see how this plays out. We all want the same thing.

Agreed LM. My take is Paulson has two investor camps. Those like you and I that tendered, believe in the science and follow closely. and The bigger camp do these deals because they are looking for very little exposure coupled with a grand slam return. That is why we had 20% participation.

You know what I think. We will be the big winners but not without a few bumps.

IMO the bears and over critical posters here have it wrong. The focus on delays is leading many to believe we will never accomplish anything and if we do accomplish, it will be too late. Let’s review where we are at this point in time.

While there continues to be delays the reality is the milestones are being compressed as the work behind the scene continues to progress. This sets the stage for an onslaught of positive news. We may very well be entering a time in which the value of Leronlimab can no longer be ignored because FDA approval is certain and the data for Mono is just to overwhelming - not to mention the potential Cancer indications.

From my perspective Mono is a slam dunk and BP knows it. Their hope is that our financial constraints and the FDA gauntlet can string us along. That is a big gamble if we get the needed financing. We may have to give a chunk of equity away on a deal that pushes the envelope on the current HIV space. My message to Nader is do whatever it takes in the next couple months to get $50M in the coffers and accelerate the trials.

In regards to the Tender Offer it was interpreted as a failure. I thought they would get 40% participation and instead the number was 20%. After thinking this through did we really think the professional warrant driven Paulson investors would risk anything? They are ZERO risk, sell all shares, hold their warrants investors. They don’t deviate and have kept the lid on the SP for years. Many financing deals are in the works and if successful the door will close on future access to ANY new warrants allowing the SP to represent the real valuation of Leronlimab. This along with a continual stream of positive news is the perfect storm.

The negative focus on Nader is wasted energy as he will not be replaced. He has his strengths and weaknesses but he knows more about Leronlimab from more angles than anyone on the face of this planet. Kelly and the BOD will continue to bring in talent that lessens Nader’s responsibilities in areas of weakness. This is a necessary move as we take this home.

From my perspective we are approaching the best of times.

AIMHO

You author quite a story here Fines. You seem to be deeply enthralled with your own speculative opinions that are presented as fact. I for one think you over analyze and end up down a rabbit hole. Wait for the facts. Your a very intelligent person whose perspective would be palatable if presented with the big picture in mind. Minute to minute play calling makes you come across as paranoid and constantly reaching for answers that are based on pure speculation. Please give it a rest.

https://seekingalpha.com/article/4269836-cytodyn-uncovering-opportunity

I’d like to know who on this board who has warrants took advantage of the Tender Offer. Also those that have warrants that opted out or converted less than 100%. That might give us an idea of the percentage of warrants being converted. I’ll start.

80k warrants available
Converted all 80k

$25M

I like your analogy and believe Samsung expects Leronlimab to be a successful drug however they are not making a $1B bet.

Samsung’s cost to produce $1B in market value using a $120k per year patient cost is a fraction of the $1B. I would venture to guess the COGS is approx. $50M.

The Samsung deal is still a big vote of confidence. Upfront payments would signal a much higher level of confidence.

Yes, that was a big part of my decision making to participate in the TO. When the BOD was given that deal I said I sure wished they would give Paulson investors the same deal. Well, we got it and I took it, as did many others like yourself on this board. Now the million $ question will be how much $ will they raise from the TO?

In between TO and other possible stated deals by Nader, I’m expecting a total of $50M plus in the bank by the end of Q3. As you know Nader is always selling the glass half full so I’m conditioned to add extra time but fully believe many plates are spinning with real interest.

I understand your opinion on Naders competency. My frustration with progress on financing reached a threshold about a month ago so I made calls to ease my tension. What I can tell you is moves like Dr. Rae to focus on partners and licensing deals is a reflection of the BOD understanding of Nader’s strengths and weaknesses. In fairness to Nader he is spread extremely thin and has been running at a very steep pace for many years.

IMO Nader has the experience to navigate the FDA and will lay proof with approval of Combo. On the other hand he needs to make way for Dr. Rae on the partnership, licensing, and non dilutive financing front.

We are not the only ones wanting to see the financing dilemma resolved - the BOD have a lot of skin in the game and you can bet they are understanding the importance of building an experienced team that can more effectively negotiate such deals.

Often times it is difficult to see clearly when we are too close to the fire. Leronlimab is Nader’s paternal baby and his ability to be objective may be a barrier to negotiating effectively in addition to his delivery. I know the feeling I get with his lack of patience and arrogance on the conference calls. I’m sure this personality trait has been recognized by the BOD.

From my perspective it appears the BOD shares many of the same concerns communicated here and they are taking action.

Thank you 140. A welcome back to our most kind hearted one. You have a style all your own that is often like a riddle waiting to be solved. Keep the clues coming.

Lmao. Too funny. You’ve obviously had a few sleepless nights analyzing. I’d be kidding myself if I didn’t admit the same. Ah yes all the possible scenarios that run through our minds-that’s life and is much prefer some excitement.

Great post Jacket. No regrets here also. I’m more passionate about this investment than any other in my lifetime of 60 years. You go around once and I wouldn’t change a thing. I’ve gotten to know many of the BOD’s and they are the kind of people I believe in. They have an insatiable desire to make their mark on the medical world and they have a belief in the science that intrigues me to say the least. We have an opportunity to be a part of something that hopefully will positively impact many lives. I applaud the Longs here on this board especially those like Gestalt who have stood firm for far more years than I.

If this comes to fruition we will have much to discuss and celebrate...and what fun that will be to compare this rollercoaster ride.