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Just my opinion, but it seems like a great opportunity for technical traders to piggyback on possible LPC trading of AVXL stock.
If I gave you 200k shares free and then said you have to buy 50k shares from me every other trading day, (at the lowest price traded on that day) what would you do to maximize your profits?
Why do you suppose the agreement only allows a required purchase on every other trading day ? Why not allow it every trading day?
WWYD?
Although there is some ambiguity to the language used...
I believe the $3 limit only applies to “accelerated purchases”
“In addition to Regular Purchases described above, we may also direct Lincoln Park, on any business day on which we have properly submitted a Regular Purchase notice and the closing sale price of the common stock is not below $3.00, to purchase an additional amount of our common stock, which we refer to as an “Accelerated Purchase”, not to exceed the lesser of:
. A decrease of $1.00 per share in the price at which the shares are sold from the assumed offering price of $3.03 per share shown in the table above, assuming all of our common stock in the aggregate amount of $9.9 million is sold at that price,
http://secfilings.nasdaq.com/filingFrameset.asp?FilingID=13303584&RcvdDate=3/18/2019&CoName=ANAVEX%20LIFE%20SCIENCES%20CORP.&FormType=424B5&View=html
Perhaps Management could do a more thorough job in detailing their patent protection then by using your sticky.
No need. I’m correct. LPC purchases shares from Anavex directly. What they do with them after that is their business alone.
Thank you! You offer an absolute wealth of information. Always good to read the prospective of someone with practical first hand experience.
Could you offer your comment about the Phase 2a Alzheimer’s extension trial? I believe someone from the ASM reported that Dr. M reiterated again that some patients are still “ under dosed” or something to that effect. Does it seem odd that, if that is the case, they are not increasing the dosages of the patient they believe are being under dosed? If you really believe a higher dose would help, would you want to keep someone on a lower dose for 5 years?
Probably going to pass and it really should have no impact. It’s likely just being requested because management wants protection against being booted out by a purchaser if the drug works or current shareholders if the trials fail. Imho of course.
I’m hesitant to break into the excitement of the price run, but since there still seems to be quite a bit of uncertainty about how LPC manages to make a profit I figure it might be worthwhile to revisit the matter.
So if Anavex had contracted you as their CRO, you would have recommended an extension? Their CRO is really good imho. Perhaps that is the genesis of the extension request Dr. M mentioned? Just good clinical practice to offer an extension.
I don’t think Anavex should be in any hurry with the AZ trial. Why rush into a trial that follows the historical ~100% failure protocol? Why not hope the PDD trial can help establish a biomarker correlation?
Personally I feel focusing on the PDD trial is an excellent strategic decision. Much less expensive than AD. Also quicker. Also only required 10 and 20 mgs based on preclinical data. The CRO performing the trial also seems top notch imho.
I definitely don’t understand all the metrics that resulted in apparently continuing the LPC agreement if the Cantor ATM is an option.
Perhaps it’s linked to the reason for the preferreds? Management doesn’t want to lose controlling interest through dilution until the BCP’s are there as a backup?
“ During the three months ended December 31, 2018, the Company issued to Lincoln Park an aggregate of 953,584 (2017: 1,091,175) shares of common stock under the Purchase Agreement, ...”
I believe they have daily limits and it looks like it was not above $3 during that 3 month period if I’m looking at it correctly. I mentioned the $3 limit long ago but it is kinda hard to be certain about it because it’s in a section that also talks about accelerated purchases.
No huge deal just something interesting that doesn’t seem to make sense to me.
Better than defying it I guess. .
No. They all knew they were taking a drug with no chance of a placebo.
Just kinda odd to understand that the patients requesting extensions in the current trial could actually be on placebo. Probably not though, placebo patients never improve right?
That would be awesome!
Ok thanks!
Oops! Never mind.
Rosan Rosadana
Just missed approval on the 2015 attempt.
Do you suppose that perhaps management and the directors want the BCP’s to make sure they are the one’s being protected?
If someone were to attempt a takeover, don’t management and the directors have the most to lose?