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Since you're repeating the name wrong, it's not "Kevin", it's Kenneth. Call him just Ken.
PS. As a @wmtgreeter, I need to get the names right, otherwise my career would be over. LOL.
Retrospectively, I wish I had sold out above $20 and never bought any share. I confess I bought a substantial amount of share above $20 as high as $28.xx. Guilty. My last and lowest purchase was at about $8 per share. Have not bought any shares for a long period of time. This equity should have a good trade such as trading around core. Hind sight 20/20, oh, well...
What kept me holding these shares were two things:
1) influence from J&E that bigger things are on the way, and a narrative that hedgies want to shake you out and they want your shares;
2) the lack of clear investment strategy (entry/exit points, stop losses, and managing risks) from my side.
I have learned this lesson a very hard way, and I believe I will not repeat those mistakes. Ever.
My question to you: What kept you in this equity when the stock started crashing once it reached the ceiling at about $30?
@wmtgreeter and a proud holder of GED in investment psychodynamics.
Maybe, we do not know him well enough to judge more accurately, thus I'm giving him the benefits of the doubt. Look, my first reaction when I saw a new CEO announcement was "anyone but him". Let's see how he performs. He will have an opportunity or two to speak in front of investors within the next 6 weeks: (a) Jefferies, and (b) Investor and Analyst Day. If, besides his presentations skills, he also reveals some tangible news, then he's the man. Otherwise, too early to judge him. Past performance does not guarantee his future failures.
PS. I wish I had a GED in Political Science so that I could be a #CEO4ADAY to cash out all perks that come with that position. Regretfully, I'm just a @wmtgreeter.
I think the list of accomplishments (or, the lack of thereof) is much more important at this stage of his career when we discuss KB's background. Education matters, degrees matter, of course, but his qualifications are judged by what he has managed to accomplish in his career. So far, I'd give him C- based on what's publicly available.
As for the trading, it's virtually at a standstill. Volume is absolutely lacking, no one wants to buy or sell as we are in a "show me" mode. Thus, again, it's imperative that KB makes his first move right. Not too much room for errors. Hope he's a business smart.
Tony didn't sit around for 10 months twiddling his thumbs..
Bloodbath in bio lands:
We are retesting a support level of $100.20 for IBB, and we need to hold. It's 100% Fib retrace, and there is a lot of support there (at least, there was). Let's see if we hold and then rebound. ADXS will likely follow XBI here, which may go lower though. This is in an absence of any news from NJ.
http://stockcharts.com/h-sc/ui?s=ibb&p=D&yr=1&mn=3&dy=0&id=p02553649620&a=444736331
Some news might be coming our way whether a deal or a hold lifted. Volume is there, albeit not overly impressive. Something is up, and we will know either today or tomorrow.
Congrats on post #66666!
Not sure is it's a good or bad omen, but thanks for being cryptic.
Your X could be equal to 0.101 or even 0.0011 at this point of time.
I've been scratching my head for two months now as there has not been any single 13F or F4 filing at all. What's going on? Thus, rampant speculations start flying and conspiracy theories are abundant. Who the hell are those "buyers"? Beats me.
I've checking whalewisdom for 13F filings every single day and there's virtually nothing of prominence. We still have 2 weeks to go before the deadline for 13F filings, but if those 10MM shares were split between 2 or 3 funds, someone had to file Form 4 or amended 13G if existing large buyer? None happened. So, someone was lying about buying. Who? The Company?
This company is as clear as mud. Something is bound to unravel pretty soon. We will witness either a colossal failure or a miraculous resurrection. Take your pick.
We all seem to agree that Lombardo was a failure, maybe he was a colossal failure after all that put Advaxis at the brink of bankruptcy. We don’t really know what sequence of events have occurred in NJ since last summer, and we all resort to guessing.
However, it’s clear that Advaxis has no room for more errors. One more misstep, and we dive sub $1.00. KB has to make moves with an extreme caution. The stock is so weak, and so sick, any infection will result in paralysis and amputation of one or more of our four limbs.
A response from Knowyell:
Thank you for your inquiry about our extended silence.
It's my great pleasure to let you know that the self imposed company wide silence is now over. We took our time to celebrate a departure of our highly regarded management team including a former CEO Tony Lombardo and CFO Sara Bonstein. Their accomplishments during their tenure are simply mind boggling as they set extremely high goals for our new incoming management.
We as a team participated in our daily training including how we can continue to run this business as smoothly as possible and to ensure the transition to a new team would be as seamless as possible. We had to rent one of the largest trucks to help Tony to haul away his well deserved options. Since he also broke his two fingers playing Tetris for 10 months, we provided him a safe space with 24/7 nurse supervision in our premises. To ensure the safety of Tony's recovery, we had to shut down all our R&D work and our manufacturing facility. Meantime, we all attended #usToo movement with a goal to learn techniques to enrich ourselves with RSUs and options.
Again, we set our goals high, and anticipate that we will finish a complete turnaround of this company by 2027.
Please feel free to contact us with any questions you may have.
Have you seen anything positive to cheer about? I can't recall anything that remotely resembles as a positive. Am I getting to old that my memory fails me?
Unfortunately, there are a lot of parallels between NBWO and ADXS. The market caps are very close, the short interest rate used to be through the roofs, massive "message board presence and activism", shady management, enormous dilution, and etc. Their share price tanked from $12 to $0.20 in less than 3 years, that's even steeper than us.
Not sure why CEO issued that letter, but my guess would be their CEO wants to keep paychecks coming. Of course, on the back of the shareholders. No accountability. Fight evil shorts, and create a Stockholm Syndrome among the "loyal" shareholders. Can't we see the similarities here as well, right?
Two things that concern me the most as of today:
a) Where are those who bought the shares during the last secondary?
b) Why none of those "buyers" have not showed up to defend the tanking share price?
Those who participated during the recent 20% dilution are non-existent and I'd assume they were not real buyers rather shorts who covered their short positions. That is illegal, even by the SEC rules.
A 30-day grace period for KB is fine withe me. However, given his background and expertise, that time frame will not be sufficient for him to catch up with the whole enchilada of issues that Advaxis have been facing recently.
Recall Tony went into a "hibernation" for two months before he came up with a FourFranchiseBusinessPlan early September last year. There was nothing new in that plan that would have required 60 days to outline, and it did not give a clear plan how to transform the company. It was all hot air, and we tanked. Hard.
Taking time to sort through the business is going to take time, however, I'd expect that something was cooking to attract KB. We shall see if this theory is true or not soon enough. If nothing happens within a month or two, I'd be worried. Again, I'd give this company until Week 4 of NFL football to see some transformational changes, and if nothing happens I'm going to re-evaluate my position in this equity. Albeit, it might be too late to do so.
#wmtgreeter
So, what happened to the HFT conspiracy theory? Some High Frequency Posters claimed it was all about HFT destroying the share price while giving an absolution to the BOD and entire management.
Yes, the roots of the evil that has been destroying this company is the management. The common denominator here is the BOD and the person who's been a chairman for that board. Sidransky must go. The change has to start with him. Otherwise, Advaxis will be obliterated as a business and we lose everything that we invested in it.
These a$$holes have been padding their pockets regardless of their performance. They are getting their paychecks and golden parachutes whether they accomplish anything or fail miserably. This is just a complete absurd.
Meanwhile we get robbed at the daylight. We put our hard earned cash into this bottomless pit to feed jackals. They laugh at us, shake their heads and ask for more. They get what they want whether we agree or not. This game is rigged, and it’s not just Adage.
I agree that Sidransky should have been kicked out from his lofty position long time ago. The questions are who and how. He likely will not leave voluntarily. We do not have an activist investor to facilitate the change, and extremely passive retail investors.
I've been invested in Cormedix which has had even worse management team and BOD than ADXS. Retail shareholders started a revolt last May, and the BOD chairwoman was forced out. Few BOD members were also replaced. CEO/CFO survived although they were incredibly incompetent. That was it, a nothing has changed. The stock is down 98% and we are screwed. Keep in mind, there is an "activist" institutional investor there, and they have been playing games. Dirty games for years.
Dafreaks,
Ridiclulous indeed. If this is how The Silence ends, then we are in deep trouble. They have no freaking plan of succession, and one should be demanding what the hell Tony has been doing since he was hired?
No surprise the markets are showing us a big fat middle finger.
The current cash burn is about $16MM per quarter (see my post https://investorshub.advfn.com/boards/read_msg.aspx?message_id=140267956)
They raised $18.8MM during the last 2ndary, which would last just a bit longer than a quarter. ATM is another form of secondary and it sucks if they run it at these depressed share prices.
I hope another 30% dilution will not happen albeit they can do as much as 90% dilution with the current 95M authorized shares.
KB needs to get down to the business which has been neglected by his predecessor. Surprised the silence continues which indicates The Silence was not about a management shakeup.
I'd be surprised if someone other than Ron Kalfus is hired as a CFO.
Tony and shame? These two have never met.
Tony "The ValueCreator" Lombardo turned out to be Tony The Destroyer. I am puzzled what skill sets he has to be at the helms of Advaxis for 10 months. Public speaking was not his forte, did not comprehend the science, leadership skills have been lacking. He did not accomplish anything. However, he gets to collect a big salary and RSUs and now a large severance package. And guess who's paying for all of those? You guessed it right. We are.
I'm concerned with the clinical hold still not lifted. It's been two months since the patient died, and we are still under this hammer. Obviously, AZN has some agenda here to deflect the blame and maybe try to put it on a little partner. We know that their CPI is toxic and to expect that toxicity to be lower when combined with AXAL is nonsense. The longer this drags on, the only beneficiaries are shorts. Patients and investors will suffer. Need this hold to be lifted ASAP.
With the SI at the historical lows, and a new management team in place (albeit a legacy BOD still causes a big gravitational pull), we can start moving up rather quickly if this team can show they:
a) execute;
b) keep self imposed timelines.
Execution is the key here. Stock is so much beaten down, and almost nothing is virtually priced in except for the ultimate failure and bankruptcy, we need one or two wins to get the SP ascending at a rapid pace. Could it be a good to great CT data, or a cash infusion through a partnership, anything, and we change the direction. TL was talking about an inflection point, but he is gone and it would be interesting to hear if KB keeps that narrative. I personally give Ken Berlin up to 6 months to turn things around. That would be my "the benefit of the doubt" timeframe. If he stumbles, I will reassess the risks at sometime in October.
On that, I agree with you. In order to get the share price closer to $50, the company has to execute perfectly without any hiccups. Several things need to happen, including EU approval without any black box warning and great CT data this year (MRK combo for PSA), BMY combo start and data, Aim2Cerv data readout. Most importantly, we need to see NEO data and it has to be great. HOT needs to get into clinics, and we need a deal with large cash attached.
Lots of ifs, but possible. It's all about execution and it has to be almost perfect. No dilution at these freaking all time low prices! Get reputable health funds on board, with Broadfin back, get Orbimed and Baker Brothers on board! Just do it, and then $50 per share could be too low. Until then, it's just a pipe dream.
they might have $30-50M in sales for 2019
Under promise over deliver.
That’s an opposite to what Adxs management has been doing.
Oh, I forgot about a severance package on my way out.
New options are issued for the new CEO and CMO. Cool 1,000,000 options between the two. How many options/RSUs were granted before for Team Moore and Team O'Connor? Millions and millions.
Can I be a CEO for a day? Just for one single day so that I get a fraction of those bloodsuckers get on our backs? I'll be there just for a day, grab my options and walk away. Do you mind?
The Berlin Wall:
From Ronald Reagan's speech: "Mr. Gorbachev, open this gate! Mr. Gorbachev, tear down this wall!"
I think Ken Berlin does not need to build a wall between the company and shareholders, rather he needs to tear down the brick wall that Tony has built during his infamous tenure. Blow it up, Ken! Start a conversation with us, shareholders!
ASCO abstract titles are out
https://am.asco.org/abstracts
Very cumbersome search engine. Had to look through all 269 sessions, did not see any Advaxis abstracts. I guess I missed if there was one. Did anyone try to search?
Well, it's always something else to blame for his failures. Blame deflection is one of the forms of blindness. History always tends to repeat itself, first as a tragedy, then as a farce. Are we to witness a farce?
It would be unethical for the current ADXS staff to communicate with an outsider regarding the new CEO's background, let alone share his/her concerns about KB's past ventures. Especially via LinkedIn. That would be a ground for firing. Period.
I'm still surprised that nobody here posted anything about a feedback from Noelle. So, the silence continues? As I said, it was about a policy change towards the retail shareholders likely instituted right after the ASM. Since the shakeup at the very top of the management, that policy may be relaxed now and we should hear something from Noelle soon. However, I believe she would not be prompt to respond to inquiries and share tidbits with the retail holders. Berlin's response to JS is encouraging, but let's see what transpires within the next three to four weeks.
Now you’re calling Fuhrerstein a reputable biotech analyst? You made my day, man!
He is nothing but a short jerk, fed by short hedge funds, and has few axes to grind. Personal vendetta is on the top of his list, which is a MO for a political science major.
TJ,
if the science has the goods we will be fine.
if it doesn't, nobody is going to save it.
I know the importance of a phenomenal ceo....
More talk should be about the science
I wish could could mortgage my trailer home to take out a HELOC to buy more Advaxis stock. Not getting a raise this year either as my employer is a hard liner to squeeze folks like me. However, I'm hopeful to get transferred to a new store location sometime this summer where I expect to make $0.05/hr more than now. Then, I'll be able to buy 3 shares per month once a tide turns.
@wmtgreeter
I certainly hope so, but those predictions made on this board recently and not so have been wrong.
I am not sure if your crystal ball requires an annual inspection or not, but we need to admit we know very little to nothing as to what transpires next.
Cantor ATM can be used
They're funded until 2nd qtr 2019.
It might be sooner than that.
Let's see what they had in hand (Cash and liquid securities combined):
1) $59.4M as of Jan 31, 2018
2) $75.34M as of Oct 31, 2017
Cash burn was down to $16M from average $20M previously. If they kept a lid on cash burn rate, their $18.8M raised during the last secondary would be gone by the end of April, and they are down to lowest cash levels again, and will need to address the cash issue by the end of May, at the latest. They now have a cash left for less than 3 quarters, which is too dangerous and reckless. Given the track record of KB, I'd see he would not hesitate to do another secondary provided that is his only option. I sincerely hope that BOD has some other ways for Berlin to start (partnerships?). There is a huge time crunch in NJ right now, and they don't have much room for errors. If a dilution comes without any positive events, then we tank sub $1.00. We will know soon enough who KB is.
Hovacre,
one of the issues I have with the new CEO is that the IP protection issues became known within a year since KB started as a CEO of ROSG and he stayed there for another 8 years trying to make the company survive and be profitable. The questions arise if he grasped the headwinds the company was facing and had the strategies to navigate the company through the rough seas into a promised land, however, it did not work. Or, he had an excellent paying job with a great compensation package and has been milking the system on the back of the shareholders. Either way, he does not induce a great confidence in me as a leader capable of transforming Advaxis into a company we all envision. I might be wrong with my first perception, and as I said, I'll give him the benefit of the doubt, however, the first instincts are usually correct.
Let's see how he starts here. I know that he has never run a company that run a clinical trial (it's not just CMO's job!). He was not in the business of developing a cure for cancer, and has little knowledge of the science. Hope he catches up with the help of Petit and Gutierrez . Tony has not been able to grasp even a fraction of the science. I'm troubled that the BOD could not recruit a person with a solid industry reputation, with a good track record. Why KB? Just because of the Sidransky/Berlin relationship?