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You can't really trust the content of their web site -- the company has been notorious for not properly updating their site.
BMY deal was DOA as there was no funding.
AZN was technically out long time ago, even before the hold. Clinical trials data has not been updated for quite a while as well...
Realistically, they have only AMGN. Merck is still sitting on fences, with no real commitment.
Yes, but the necessary condition for that Advaxis must go into a complete radio silence mode. Then, those two conditions would ensure J&J partners with Advaxis to gain an access to the true LM platform.
ADRO/Janssen Lm agreement termination. (Janssen is a subsidiary of J&J).
https://www.sec.gov/Archives/edgar/data/1435049/000119312518289503/d619516d8k.htm
Likely, that's the reaction.
Who in their right frame of mind designs such an offering?
The management did not design them -- Cantor Fitzgerald and Oppenheimer did. The management had two choices: to accept it or to find better alternatives. We do not know if they looked hard enough elsewhere. Maybe, they panicked. Plain incompetence cannot be ruled out -- it's not uncommon that the management does not realize the potential damage of those types of combo financing. Molly Henderson comes into my mind...
Whether it was their last resort or not it does not matter any more -- the damage has been done, the only way to undo it to get $21M cash somewhere and buy them out. Too late to cry over the spilled milk, we had a boulder tied up around our neck.
Agree with most of your observations.
Until some type of major news (clinical data or monetary deal) is announced, we will be trading in a 0.75-0.95 channel. But not for too long as the need to replenish coffers becomes the single most important issue in 3 months. Some have argued no need to kick the can until April '19, but I see the cash issue talks to heat up much sooner. Then, the channel will be broken to the downside. Batermere could see his wish granted ...
Right now the single most important share price driving force is the "new owner" -- CVI. As I wrote a week ago, they create the volatility in the equity, and trade to make money. Stock cycles lasting few days, going up and down on seemingly no news will frustrate the current shareholders. You can try to trade within this channel if you are a trader, but I'm not. I'm watching the 14M+ warrants that will be the next trading force once the share price crosses $1.00 on some news. The level of volatility will be insane. Any moves on a major news will be exacerbated to then completely suppress. It will be a nauseating roller-coaster.
I'm not sure if the management realizes the consequences of the warrants they issued during the last secondary, probably not. They likely view them as a convenient way of raising extra cash, and nothing more. They'll be surprised to witness how damaging these warrants are going to be when they had a great news and expect to raise cash at much higher prices.
PS. Not much talk about "old" warrants that set to expire this month. I hope the management is not stupid enough to extend them. That would drive the stock down...
It's hard to say. Until I see an AXAL deal for H&N cancer, I would be skeptical about anything AXAL related. If it has no monetary clauses, Aim2Cerv trial will likely be shelved. They need to get something done in terms of attracting a big investor. Otherwise, it's always going to be about timing the next dilution.
https://ir.advaxis.com/event/conference/cantor-global-healthcare-conference
http://wsw.com/webcast/cantor7/adxs/
The links above still give me an access to the presentation. But I registered before the presentation and listened to it -- so may be my browser did somehow cache it ...
I must have missed that part -- the headphones given to @wmtgreeters are crap.
How exactly Ken thinks that gap would be closed at some point? We've been talking about a fair valuation of the company for years...and here we seat at crazy market cap, and now what? All we get is devastating dilution after a dilution. No great clinical data. No monetary deals in the past 2 years.
Talk is cheap. Money talks, bullcrap walks.
October presentation file now uploaded. It the same as Ken used @Cantor.
At the very least, his presentation skills are significantly better than Lombardo's.
Nothing new presented, of course. Expectations were low.
The company needs deals or data "to get some love from the Wall Street", per Ken Berlin.
Neon Therapeutics (NTGN) initiated with a buy @ Ladenburg, price target $20. Friday close $8.54. Recall their IPO price was $16 three months ago.
Congratulations to those two scientists!
On the other hand, don't we all wish that Dr Yvonne Patterson gets a well deserved recognition from the Nobel Prize Committee for her invention of LM platform? So far, the crooks and slouches did everything possible to kill and bury her invention. What a shame!
This one has higher chances hitting $2 than $0.50. Anything possible at this moment, but I expect trial results leak long before the general public is informed. That could be a driving force.
This is going to affect Advaxis...
Bank of America Merrill Lynch cracks down on risky securities with ban on penny stocks
The bank's Merrill Lynch division banned purchases of the risky securities in late July, and added restrictions to sales in September, according to sources.
Starting Sept 30, stocks priced under $5 per share from companies with a market capitalization under $300 million will be subject to a regulatory review, according to a copy obtained by CNBC.
Bank of America appears to be the first major wirehouse to restrict the purchase of penny stocks. Rivals Morgan Stanley and UBS still allow the trades.
Penny stocks can easily be manipulated for fraudulent purposes, according to talking points distributed to Merrill Lynch brokers.
https://www.cnbc.com/2018/09/28/bank-of-america-cracks-down-on-penny-stocks-with-purchase-ban.html
Nothing wrong with the SPA except for the cash needed to complete the trial increased significantly. (1) They paused to get the SPA approved, and took for over a year. (2) Adjuvant setting trial doubled the length of Phase 3 trial.
Trial size is close to 450 patients, and it would definitely provide good p-value. The trial estimated to finish in 2021. Should they decided to go with Ph3 as a continuation of Ph2 with N=200 or so, they would have likely gotten acceptable p-value (it's a sin to run a placebo group for those poor women!) and be done early 2019. We could have been anticipating Ph3 readouts this time around. That's the difference.
There could have been other ways to set up this Aim2Cerv trial (partnered) to make these both trials work. DOC was not creative in this regard, he was creative enriching himself.
Blue,
thanks for sharing. We seem to be back to Phase 1 company based on what you said.
Few days ago, I highlighted two major mistakes made by DOC. Number 1 was running Aim2Cerv this current way with SPA. Some folks argued that was not the case, but Dajani just confirmed the obvious -- it's too expensive and the trial did not account for the ever changing landscape. Remember, when the "best ever cervix results" were compared to Avastin as a SOC? That was another mistake not to see Keytruda taking over the market. Oh, well...
Race to the bottom: a hands down win by Ken Berlin, we hit $1.00 mark much faster than expected and beat DOC's Oncosec. Oncosec's current market cap is $77M, while ours $62M.
BTW, for those who see KB presentation webcast as a sign of something significant coming at Cantor, think again -- even bloody O'Connor's presentation will be webcast. Maybe, DOC and KB will have a nasty exchange of words @Cantor, or even a fistfight about who's done more damage to Advaxis.
You and I are here.
Nobody disputes that. It's all about optics -- if Ken were an honest guy who wanted to establish a lost trust between shareholders and the management, he would either:
(a) Use that money to make open market purchases in the entirety. Form-4 would follow to know that;
or, (b) refuse to accept the bonus and issue a PR that states something like "Our CEO ... decided to put on a temporary hold issuance of any bonuses, RSUs, and even reduce the top management's compensation by 10% until the company's financial situation improves".
Guess what, Ken is one of those who sees a wallet on the floor, picks it up and walks away with it as it was his own... Never heard about "Lost'n'Found" kiosk.
#shameless
The company's top management's greed is also late stage.
Someone with a greed-o-meter said that Ken is not as greedy as DOC. Correct! Wait, did someone else got his $150,000 bonus for this $20M dilution? It wasn't Ken, right? It can't be Ken!
So, out of 16,666,666 (double devil's number!) last secondary shares, CVI bought 4,166,666 shares. Where are the rest of 12.5M shares? No one else filed 13F/G form as of today yet. No Form 4s either. No one exceeded a 5% threshold which is roughly 3.5M shares. How many funds then participated in the secondary? More than 5? I do not think those shares went to the shorts to cover their naked positions. Where the hell are those "stealth" shares? This company gets 10 of 10 in the "mysterious" category.
I pray for justice to be served
justice was served, waiting for an equality for all.
So, you are not taken to the woodsheds? How so? The only ones not slaughtered are shorts. Are you one of them?
Advaxis short interest 3.151M as of 9/14. Up by 850K shares.
Several companies have made similar announcements this morning. It’s a normal practice to announce the presentation a week or so ahead of the event.
There is nothing to look there.
I believe it will be a non-event. Don’t raise your expectations too high.
What percentage of Phase 3s have SPA? I bet it's not that high. It does not mean the trials without SPA have lesser chance of success and a subsequent approval?
I've not seen any post discussing why the NEO cannot be licensed on indication by indication basis. Impossible to find anything within a pile of 80K+ posts.
I'm like 99% on this board have little grasp of the science. Not sure about you, but if you claim you know the reasons for NEO being non-atomizable then please share here one more time.
Thanks.
Care to elaborate?
DOC made quite a few mistakes while a CEO of Advaxis. However, two mistakes were critical to the detriment of the company:
1) The decision to get a SPA to move to Phase 3 with Aim2Cerv. It at least doubled the expected clinical trial times compared with the "conventional" continuation of Phase 2 plus the actual time lost to get the SPA approved. It also likely doubled the money it requires to complete. What needed to be done is to go to Phase 3 directly and partner it, then think about an adjuvant setting trial and decide to go it alone or sell it depending on the cash situation. Big mistake. "Bolivar cannot carry double", O.Henry.
2) Sell NEO platform completely to Amgen. Amgen got extremely cheap long term options for this revolutionary platform that covers ALL indications. Very short sighted for DOC. He had to sell it indication by indication only, the way they are trying to do now with HOT. But the precedent was set by the former CEO, and it's now hard to argue why HOT needs to be sold by "parts".
He's a shame for proud Marines.
ADXS and “pleasantly shocked”?
Not for shareholders, but for shorts...
Are you saying TL stands for a Total Loser?
Sorry to rain on your parade, but it means nothing. The PR/IR person could have used an old template to generate this PR, and thus she might have kept that paragraph unaltered.
They have shown their lack of attention to details several times.
1) In one of the recent company presentations they had HOT "partnered" with Amgen. Obviously, it was a mistake as someone used a copy/paste to create a new slide. The mistake was promptly fixed, with the release of the revised presentation file v117.378.
2) They had a link on the main home page referencing to the submission of EU/EMA approval almost three months after the submission was pulled. They removed that link after my complaint.
@wmtgreeter
First show for Ken:
Advaxis To Present At The Cantor Fitzgerald Global Healthcare Conference
September 25, 2018
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PRINCETON, N.J.--(BUSINESS WIRE)--Advaxis, Inc. (NASDAQ: 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 Cantor Fitzgerald Global Healthcare Conference on Monday, October 1, 2018 at 9:30 a.m. Eastern time. The conference will be held October 1-3, 2018 at the InterContinental New York Barclay Hotel.
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.
About Advaxis, Inc.
Advaxis, Inc. is a late-stage biotechnology company focused on the discovery, development and commercialization of proprietary Lm-based antigen delivery products. These immunotherapies are based on a platform technology that utilizes live attenuated Listeria monocytogenes (Lm) bioengineered to secrete antigen/adjuvant fusion proteins. These Lm-based strains are believed to be a significant advancement in immunotherapy as they integrate multiple functions into a single immunotherapy and are designed to access and direct antigen presenting cells to stimulate anti-tumor T cell immunity, activate the immune system with the equivalent of multiple adjuvants, and simultaneously reduce tumor protection in the tumor microenvironment to enable the T cells to eliminate tumors. Advaxis has four franchises in various stages of clinical and preclinical development: HPV-associated cancers, personalized neoantigen-directed immunotherapy, off-the-shelf, hotspot/cancer antigens neoantigen-directed immunotherapy and prostate cancer.
To learn more about Advaxis, visit www.advaxis.com and connect on Twitter, LinkedIn, Facebook and YouTube.
CONTACT:
Investors:
LHA Investor Relations
Miriam Weber Miller, 212-838-3777
mmiller@lhai.com
or
Advaxis, Inc.
Ranya Dajani, 609-250-7559
dajani@advaxis.com
Can we rephrase it like this: “With the management like this, we don’t really need millions of shorts”.
Capitulation: isn’t it what we desired to witness before the share price changes its trajectory? Shake out the weak hands and then... kaboom, the NEWS. The stock price jumps by several hundreds of percent and those who anticipated to jump in or reload at 0.50 are left in the dust. Seen that few times.
#norealshareholderleftbehind
Today marks the beginning of Month 6 for Ken Berlin as a CEO of ADXS. Will he surprise us with a news?
I had a nightmare last night. Ken delivered an earth shattering $3.5B deal for Oncosec that included $550M upfront cash for AXAL. DOC wanted this Gen 1 program back under his leadership, so he somewhat overpaid to get the platform before Merck grabbed it. Then, Blue, Iggy and others were making nasty jokes about wmtgreeter and maharaja as sore losers. I felt really bad. Then, I woke up. The reality was not as bad as it seemed ...
I don’t really know what to expect with this company now. Anything possible.
Although the markets assign zero enterprise value to the company pipeline currently, I think they can stay irrational for a long while and keep the EV at zero or even negative. With the cash dwindling as the time passes, we could continue to see the share price go down. Need deal or data to change the SP trajectory.
My bag is small but utterly heavy suggesting extremely large density of the content. Gold? Maybe, Platinum? Scared to open the bag. ...
Wow, that’s great trend with the slope of 0.0001 degree angle. Can you tell what type of microscope you’re using?
“stave off boredom”
——————————-
Indeed, we have bored to death in the past three years or so.