Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Can think of no reason that a lawsuit about alleged misrepresentation of a clinical timeline would affect AT-104's approval.
When is the 10Q coming out?
Tell the warrant holders that when ADXS signs a huge deal on AXAL and gets early EU approval, and thus they make 40% more profit on their investment. Your employer is really looking to get its hands on warrants, huh?
Selling the warrants is a taxable event. You would have to pay capital gains.
Exercising warrants is not a taxable event. It only results in a gain or loss for those who received them free, i.e. Employees.
"Not being able to afford the stock" is yet another illogical comment. The minimum investment is currently $8.50. Take whatever amount you want to invest and divide by that number. Thus, you can afford it. Of course, your dollar-amount investment will get you 40% fewer shares than warrants. Which is the point.
I understand how warrants work, Obi. You seem to be confused in that you ignore the leverage warrants provide. Obviously one would not buy warrants if you know you are going to exercise them, because if so there is no reason to pay the premium. However, if you believe the stock will be much higher before expiration, and you're right, you will make alot more money with warrants. The ability to exercise is there, but it is not necessarily the primary objective. The same logic of buying call options. The warrant premium is a reflection of supply and demand. Many shorts short the stock and buy the warrants as a typical strategy. Except they can't really get their hands on any in this case. And the mm's have very few in inventory, and need them also. So if you think the premium is high (which it really is not), then the likely reason is that the mm's don't have many to sell (low supply).
Cash as of 10/31 was $159 million.
Supply and demand and Black-Scholes. Very short supply. Most of us paid a lot lower premium back in the day. And the leverage even with the premium is still worth it. I'll hold, thanks. And if I can get them for a $1.25 premium I'll buy more. People should bid in the middle of the spread, which the mm's will often take.
Because warrant holders don't want to sell. They want to use their time premium to take advantage of the leverage, which is why they bought them in the first place. Worse comes to worst and the buyout doesn't come before expiration you just exercise them.
You got it, Bill. The warrants are much less volatile than the stock. On a big stock move sometimes the warrants barely budge.
The shorts and mm's would like to get their hands on the warrants, which are largely retail held., because retail bought alot of them in 2013-2014 when they were very cheap. The shorts often use warrants as a hedge. They can exercise and return the borrowed shares. It probably annoys them that retail will not give them up.
The original SEC filing says 5 years from issuance, which was 10/16/13. There are several different issues of warrants.
An interesting tidbit on the warrants is that as of 10/31/16 only 3.1 million remain outstanding. That means that over 1 million have already been exercised. Very low float, hence the lack of supply and low liquidity. I believe retail owns a large percentage of them, considering that I know people who collectively own roughly 10%. That includes some of the people here.
More like 20 months, not 16.
Lol. A guy died of cervical cancer? Caitlin Jenner?
Very impressive GOG results, CATT.
Sounds like the only possibility, Catt. ADXS didn't get a late-breaking time slot for nothing.
I'm confused, Catt. Didn't they stop Phase II when the hold kicked in?
The price was languishing when the Amgen news came out. It apparently did not leak, which is borderline amazing these days.
I'm still trying to figure out what new info ADXS can possibly report related to the GOG Phase II trials. It seems to me it was all reported already.
When you convert one warrant you get one share for $5 and it's worth whatever the market price is.
Smasse, your broker will handle exercising your warrants. You can theoretically do it yourself directly with ADXS but it's a pain in the neck.
You can exercise the warrants whenever you want prior to 10/31/18.
Yes, people lose track of the fact that nearly all of ADXS's peers are having their stock manipulated as well, and all are down a comparable percentage from their highs in the biotech rally. ADRO is well below its IPO price. If FBG owned ADRO he would be saying that its investors are all underwater. lol. And he'd be correct.
Definitely a factor because the ADRO IPO provided an easy comparable on valuation. But I do not think it is what induced all of that tutes accumulation. That was mainly due to Adage's prestige, and to the due diligence that the tutes did after being alerted to ADXS by Adage's buy in.
The main reason for the run to 30 was that the tutes' ownership went from 10% to 70% in about six months. Shortly after Adage bought in for the first time alot of other tutes also jumped in. There is no stopping that kind of buying pressure. It was a regular gold rush.
With this anemic volume the mm's are not making much money. And their attempted share grabbing efforts are not accomplishing much. If anything, they are grabbing a pittance of shares from day/swing trading shorters. That's all it is these days. A bunch of short daytraders competing with themselves.
AXAL will be on the market in Europe years before 2021. And most likely in the U.S. also. But the EU will be first.
Because the mm's are short also.
I agree, Bourbon. I would really kick myself if I tried to trade and happened to be out of position when big news hits. Which, to me, is inevitable.
Well, Steady, I was up 750% in 8 months at 30 and I didn't take much in profits either. I vowed not to trade this one and I stuck with it. Mistake, in hindsight? Yes, but hindsight is always accurate. I am in for the big payday, not the interim ones.
Good points, Meishar, and well said. What's going on here is simple "share price bias." People get frustrated with the pps and they start looking for scapegoats. If the share price was 20 nobody would be complaining about management. As if the management team of a clinical-stage biotech has even indirect control over the share price. The small biotech sector is easily the most manipulated segment of the entire stock market. No real numbers to crunch to determine value, so the manipulators have their way with it. Not to mention the entire sector being severely beaten down in the last 12 months.
Stock options worth $12 million? Where do you get that from? His options are underwater.
Trader: financial details of the Amgen deal. Milestones, royalties, etc.
Nice work, Oak. Thanks.
Take me to Pamplona.
No question, HD. The Board is weak, we pretty much all agree on that one.
Can't argue with that one. We really could use some independent directors, preferably ones with investment/banking backgrounds and/or a BP resume. Both are noticeably absent.
Oak, I'm not aware of any standards or formulas when it comes to executive compensation with options, etc. It's up to each Board. However, I do know that virtually every public company grants options as part of executive compensation, and it is generally based on the company's actual performance, not the share price. The BOD has a fiduciary duty to shareholders to manage corporate assets in a responsible manner, in the shareholders' interests. All you can do is hope they do the right thing, and if they don't, try to get rid of them. Easier said than done, unless you are Carl Icahn.