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they were issued but not yet sold into market. shady warrants and crap.
Are you saying the underwriters have taken them but they haven't been sold to clients yet?
Sorry, not following.
this diluted big time today
I'd like to agree with you because this was the strangest trading day for ADXS to date.
The problem is there's no way they could have legally issued shares.
Any other bright ideas?
the warrant holders started selling their 12 million (now 800k post-RS) shares
Ig, so when do you suppose we're going to find out what Advaxis got for those 12 million free shares? Was it this pump?
I think Ub said it best. The issuance is coming so this was pumped up and then shorted (naked) heavily by someone that is likely going to be buying in the next offering. They'll be able to cover with the new shares/warrants, similar to the last offering...just on a grander scale.
It might be in the cards. I mean they don't HAVE to do it tomorrow, but if they've got nothing else to pump this with than it's definitely possible we see it then, or this week.
They don't have an ATM and wouldn't we have to hear about an offering beforehand?
This definitely seems like the most plausible scenario describing what happened today. I mean nearly 200x it's average volume (nearly 3x its total share count) today and we're trading at basically the same...
this stock is a gift to everyone but longs.
Yeah, what a disappointing day for the stock. All this for a measly 20%. Will probably continue to melt in anticipation of dilution.
We need an actual cash deal and prove demand for the science. I have a feeling this raise coming is gonna wipe me out, but best of luck to all the newbs.
We need more news... this thing isn't holding up well at all.
Dilution is the question on everyone's mind.
Ah.. thanks, James. I definitely missed that then and will go back and take a look.
If there's a competitive study out now with pembro alone that helps. I would have liked to have seen that noted in the PR though..
I guess I'm still failing to see the magnitude of this study so far. Is it the pembro that is prolonging the survival or is it the combo with Adxs-PSA doing it? Its plain to see Adxs-PSA as a mono therapy didn't do much...
Curious, why would that matter? 15 or 25 to 1. Why would that matter at all on the offering?
Second r/s in only a handful of years. I still can't believe it.
already down 25%
Maybe they make an announcement ah?
Sure, we'll see what the good news is. Question is how good can it even be, especially after giving away 12 million shares.
Huge gamble, James. I expected it as well but to say that we'll be a BPTH and not a slew of other companies that fail on this is all hope. BPTH was further along than anything NEO has and most people that understand science say don't expect much from a P1.
12 million shares given away says plenty to me IMO. This is just a gamble on manipulation. They still don't have a partner and are obviously not seeing anything short term. So sad.
R/s announced 1:15. As expected. This company never surprises on the upside. Next dilution.
This company is ramping up HOT/NEO while still paying P3 Axal costs and doing all this without a single paying partner.
Robert Petit tweeted for the first time in almost a year about the Axal patent. Why would he choose to tweet that finally.
What is going on is the question...
I'd like to see a steady climb up going into AACR and (if good or better results) a continued climb thereafter.
Yeah, I'd like to see actual news that warrants this climb in the first place. 12 million free shares is not bullish. Patent is not bullish. Aacr for p1 is hope,but reasonable people say don't expect much..
The stock is undervalued but the company is also in the worst position its probably ever been in with more trials than they can even remotely afford.
Advaxis PT Lowered to $0.40 at Jefferies. Analyst is Biren Amin.
Advaxis $ADXS PT Lowered to $0.40 at Jefferies https://t.co/cPhSDKfll4
— SIAnalystWire (@AnalystWire) March 20, 2019
Unless they had to take them in order appease prior investors to do another offering. The last finance round was ABYSMAL and we're in a worse situation today than last time.
If they had major news that was going to catapult the stock then they should have kept the warrants in place. Makes no sense other than securing future financing with more shares/warrants etc.
One thought that did occur to me is perhaps the BOD’s thinks it needs additional votes for a reverse merger or a buyout
Who would not approve of a buyout or reverse merger at this point? Other than maybe yourself and the employees at Advaxis, I can't think of anyone. Advaxis is in a terrible situation at this point and most people have lost fortunes and new money would take a quick buyout any day...
I still believe they were forced to do it to get the same people to buy in on the next round. The warrants were worthless so they gave them shares for free.
Exactly! And I can't think of any remotely reasonable reason to do this other than they had to in order to secure better terms for another round of funding.
So then what do you make of the $.30 warrant price reduction? They gave away free warrants to limit trading or they try to sell them at .30. What strategy is that, it's obviously not for the money...
Where's the disclosure on what we got for shelling out 12 million free shares? I thought we'd see something by now...
Or did Advaxis just clean up the B/S for another round of warrants?
Let's be realistic here though. We're talking about $500k in dollar terms, that's not a lot of money...
And then gave the other warrants an exercise price of $.30? U can't be this.....
What about the anti-dilutive measures on the warrants? By swapping them out for for shares Advaxis is no longer subject to them. Is that payment enough...
Just like they hoped a dilution to pay off shorts would help? You peddled that for ages. I don't know why you think it's so below them to do this.
They could also be concerned about the anti-dilution measures in the warrants that they thought it would be best to just get rid of them by offering free shares.... is that so crazy?
if there was an agreement to give away shares for free in exchange for the warrant holders agreeing to additional financing then ADXS would have disclosed that aspect of the agreement in the 8k
Why do you believe that have to say its for that in the 8k? They can say whatever they want. Why in the shelf filing didn't they say that they were diluting the company with an underwriter?
If you were the warrant holders asked to partake in another round, granted you will not be the only participants, would you maybe say take these warrants off my hands? If they dilute another round and if any are bought by CVI etc will you say that was illegal?
They did not do this for no reason, or out of some malice toward shareholders
Is it really that crazy to think they did this to get another round of funding?
Giving away 12 million shares for basically free is not a good look, that's for sure.
They (prior offering) got 1.85 shares for a $1.20. You can do the math too, he’s spot on.
I thought the warrants were protected from dilution so their value should remain even following dilution? Why swap them - deal with the devil of some kind? This company makes officially zero sense.
Question is will ADXS raise $$ now or not?
This is absolutely the question. The 10-Q EPS was nothing but accounting and no cash was provided. I truly hope news leaked but that's usually wishful thinking
Good luck to all.
More cash on the books
There's not more cash on the books, where did you come up with this?
I believe he should have used his 150k dilution bonus to buy stock on the open market.
Maybe he was too smart for that...
Merck has enough information to make a decision already and they still haven't.
So when is it possible to remove the "yet" and say that they chose not to partner at all - after ADXS goes bankrupt?
It's definitely looking like that. Average volume.
For all intensive purposes this is a P1 IO company with zero partners and a valuation of 25 million. The market doesn't trust this company either. Funding these numerous trials through tapping the market is a fools errand. Without a BP deal I dont see how this company can continue.