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Wow, just flucking wow...
Again, it looks like the "buyer" walked. The next show to drop is a PR that the company will be seeking for a bankruptcy protection.
The Game Is Over.
It's not about a possible CA lawsuit -- it's a registered offering overhang.
Another debacle with the S-1 filing:
After more than two weeks and 40% down since it was filed, we are yet to see the actual offering. What is this if not an attempt to defraud the shareholders by allowing the "buyer" to walk the share price down without any repercussions? Did the potential "buyer" walk away from the initial agreement leaving us high and dry? So, what happened? We demand some answers.
Let someone else judge if there was fraud or not by the former and current top management teams. Someone with a legal background, not by the folks who stayed at the Holiday Inn Express. What are you afraid of?
FYI:
I have just reported a fraud with the Rosen Law form about Advaxis. I also reported a fraud with the Shall Law firm re: former and current top management of Advaxis. I suggest that anyone interested in a CA lawsuit against these greedy bastards (DOC/TL/KB and Sidransky, et al), please go to these above ambulance chasers and report a fraud.
It's time for action!
I liked Slide 7 -- Advaxis management bitching about their market cap vs their peers. Pathetic.
Do they not have a mirror in Newjersee?
1) We are a tad away from the $10MM market cap -- a milestone when this company will collapse.
2) The company is unable to raise any money after they filed S-1 form two weeks ago. Nobody wants to touch this POS. Id' guess the original participant(s) bailed few days ago after they told KB they'd participate in the secondary. They might have duped this dynamic CEO/CFO duo.
3) GAME OVER.
Both ADXS and ONCS are hitting all time lows in the pre-market. Any connection between these two equities?
You are wrong. Although the clinical data from ADXS is very limited, the data from NTGN is much larger albeit it's still Phase 1. The point was the Neon's therapies are very similar to what's Advaxis is doing, and thus, it should provide some clues whether the Advaxis therapies would succeed or not. This was the reason we eagerly anticipated Neon's IPO, and then start of the neoantigens trial. Now that they have the data, we can project where we are expectations should be for NEO and HOT. There should be strong correlation between these two companies as there was a link between ADRO and ADXS. Remember, how that ended? ADRO was first to dump their Lm platform, then, three years later, it was us who did the same. Also, recall that ADRO's platform was considered a "subpar" platform to Advaxis' as they stole from us. That was a great lesson.
Disclaimer: I'm not a scientist.
I was waiting for Neon Therapeutics to release their Phase 1B data for over a month and a half now, and they released it yesterday. Based on what I saw and the reactions from the biotech analysts and other experts the data was not very impressive: from so-so to show me more data. It casts a shadow of concerns about future of the neoantigen therapies for treating/curing cancer. NEON needs to run a head-to-head trial to show if their combo therapy is better than mono (either their drug or Opdivo). PFS rates are not impressive, and the dose levels are really high.
Concurrently, ADXS released an update on their NEO and HOT trials. Not too impressive either. If I were to extrapolate where this NEO/.HOT is going, I'd say it's hardly going to be a cure. Is it going to be better than PD-1/PDL-1 checkpoints? Possibly. But, TIL-based therapies that are currently is the clinics show better results. That's a fact. All the hype from pumping NEO and HOT are just that.
1) the science does not stand still and progressing at a very high speed. What was a breakthrough few years ago, no longer is one. Time waits for no one, and ADXS has been notoriously slow to advance the program to the finish line.
2) It explains a ho-hum reaction to the PR from yesterday. No impressive data ( no PRs, no CRs), and couple this with the NTGN data release and you get the picture.
3) It also partially explains the lack of paying partners for NEO and HOT. The data is not that strong to warrant a partner at this stage.
What a flusterclack.
They have waited for this NEO data update to raise some cash. For sure, the shares will issued within three days, most likely today after the close. Sad, they can't find a partner for these programs.
This smells from the miles away -- they put out S-1 form ten days ago and then nothing. What a great silence and uncertainty for the predators! They have been killing this stock in this vacuum and could easily drop it under a buck. Someone must convince me that this is not done as a gift to some big shark. Too blatant to be an incompetence.
I doubt they could run a common secondary here. Gotta be something else. What that would be? Taking too long to finish this destruction.
I gotta admit you are 100% correct.
Market cap is just a tad above $12MM. We are very close to the threshold of $10MM when the company files for a bankruptcy protection. That will be no longer a surprise for anyone. The company is in ICU, and the management is heading for a jail. Somewhat surprising how quickly this has happened.
They filed S-1 form a week ago to accelerate an inevitable. Two strike outs in 15 months -- an accomplishment that should put KB to the Wall of Shame with folks like Madoff, Shkreli, Holmes, and etc.
We are a quarter away from a bankruptcy filing.
That was not a measure of time.
Anyone curious why there is offering yet? I thought they'd file after the Friday close, but did not happen. What's holding them back? Too reluctant to pull a trigger?
This trial and the old GOG is trial were done for complete different settings (therapeutic vs adjuvant, if I’m correct with terminology), therefore you’d be comparing apples and oranges.
As for “once we see the data” hope, I need to say that:
1) the data analysis will take time and resources that this company does not have
2) by the time it’s done (if it’s done) this company will not be around. Some other entity will be showing and discussing the data.
Not anymore. Expect to see a secondary filing after the close.
When something is too good to be true , maybe we need to trust to our initial instincts and not take a bait?
I’m guilty as charged, I couldn’t resist to the sweet songs of the board sirens. Now penniless and demoralized, all I want is this story to end soon, like waking up from a nightmare. Life’s going on, and if healthy I will survive. Lesson has been to cruel and too devastating to learn. Good luck to all of you!
I’d settle for DOC sentenced for life for his shenanigans. Also, put Sidranskiy and Bearlean behind the bars in a super max facility for 25 to life. Also, a full confiscation and $15MM penalties for each of them for robbing the retail shareholders. Then, I can sleep well and work till I drop dead without ever retiring.
Time to file a class action law suit. This is just unbelievable.
How a company with a MC of mere $15.8MM can raise $17.25MM in the secondary markets and not crush the stock? We are $0.55 away from filing for a bankruptcy protection. The entire S1/S3 form failing is nothing more than a charade. This smoke screen will clear away pretty soon. Stay tuned.
This is the final nail in our collective head: They assume to at least to double the outstanding the share count from 8+MM to 16+MM via this offering. The company intends to raise about $17MM at assumed price of just under $2/share. The SEC filing will likely be out after 1pm today. A great way to celebrate the Independence Day, folks! We are now going to independent of what the company is doing -- they keep padding their salaries and bonuses while we are completely screwed. Geesus!
At least, the pain is going to be over soon. However, the scars will take time to heal. Also, this investment means five to six extra years until my retirement. Well into seventies. Sucks.
I personally lost count how many times Kenjo did run secondary offers? Three or four? I am numb to any pain. Pluck these crooks.
Can we say now that we are finally screwed? Either way, the legacy shareholders are completely obliterated. Congrats, Mr Salomon.
Yeah, pretty quiet, buddy. The sheet storm has just started. Okay, let me correct myself— it’s been going on fr years now.
Late stage company? Late stage of insolvency. Nearly bankrupt.
The best ever GOG data no longer best ever...
I posted this re: cervical cancer:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=148860292
ADXS cervical cancer data no longer looks impressive.
When ADXS issued a PR in '15 about the cervical data, they touted the 52% improvement over "median" OS results, and reluctantly hid the overall response rates (ORR). Their ORR is as follows:
GOG 0265 data was: CR:=1; SD:=15, out of 50 patients. ORR:=32%
Now, IOVA presented data at ASCO:
"Preliminary results from a Phase 2 study, innovaTIL-04, assessing lead candidate LN-145 in patients with recurrent/metastatic/refractory cervical cancer (average of 2.6 prior lines of therapy) showed a 44% response rate (n=12/27) and a disease control rate (DCR) (responders + stable cancer) of 89% (n=24/27). 11 of the 12 responders maintained their responses at a median follow-up of 3 1/2 months. By comparison, the response rate for Merck's (NYSE:MRK) Keytruda in second-line cervical cancer is 14%"
You don't have to be Hovacre to figure out that the GOG data is weak now. This explains a drop today.
https://seekingalpha.com/news/3464495-iovance-28-percent-premarket-positive-til-data
This is what Advaxis could be doing next -- triple set of warrants. Unbelievable! I don't remember ever seeing this type of offering. Recall Sorrento and Advaxis had a collaboration 4 years ago that quietly died next year or so.
Sorrento Therapeutics Announces Pricing of Underwritten Public Offering of Common Stock and Warrants
https://finance.yahoo.com/news/sorrento-therapeutics-announces-pricing-underwritten-123721856.html
SAN DIEGO, June 28, 2019 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”), a clinical stage, antibody-centric biopharmaceutical company developing new therapies to turn malignant cancers into manageable and possibly curable diseases, today announced the pricing of its public offering of 8,333,334 shares of its common stock, Series A warrants to purchase up to an aggregate of 8,333,334 shares of its common stock, Series B warrants to purchase up to an aggregate of 8,333,334 shares of its common stock and Series C warrants to purchase up to an aggregate of 8,333,334 shares of its common stock, at a price to the public of $3.00 per share and accompanying Series A, Series B and Series C warrant.
PSA will likely be IST’d to reduce the cash burn. Expectations for a Merck deal for this indication have been virtually crashed as Merck did not make a move after the combo data was released. Look at the corporate presentation to get a sense where this is going. Big pharmaceutical decided to pass this once in a lifetime opportunity. Pulling a plug on Aim2Cerc today was a big tell — no interest at all. The company cannot afford running neither Aim2Cerc nor PSA. I’ve been saying this fo a long time. It was inevitable. Truth is that they can run only either NEO or HOT, not both. So, question is which one will they drop next.
Harry,
you forgot about other, most likely option -- a bankruptcy.
more like a fat lady ...
1) No partner has been found over the years to support AXAL.
2) Next, PSA will be shut down;
3) Dr Patterson is really "happy" now;
4) They are to pay several millions of dollars to wind down the Aim2Cerv;
5) Market will take it's a positive event as some certainty about Aim2Cerv and AXAL programs;
6) Maybe, they can find someone to take NEO and/or HOT;