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Just me or is this list full of duplicates?
I really have no idea, sorry. It just looks and quacks like a duck.
I'm sure there are strategies and loopholes for essentially creating exemptions out of thin air, possibly some legal gray (or even illegal but difficult to identify/prove) area, if they don't already exist in some written sense.
The kicker will be when everyone realizes the other 12.5M went to the same takeover party that they've been pushing shares to, same as the unaccounted shares from last time. Giving 12.5M away is actually giving ~23M away once the warrants are converted. Over 25% of the company sold in one shot.
Should be getting close now...? The agreement must be something like "we won't spend more than X to buy you, so you better make the balance of shares cheap enough to acquire". If this happens soon enough, the 25% is essentially free since the buyer will just get the money back.
Note: pulling this out of my ass.
Find and replace, "reverse split" -> "dilution".
Hmm.
Susquehanna also moved their ADXSW to CVI Holdings several months ago, for what that's worth. That company holds several different company warrants that are due to expire. I figured it was where they sent holdings to die for tax purposes or something. Check the ADXSW page on fintel.
Still the offering imo. There was a snowball's chance it could have been cancelled following the response as it happens from time to time.
Didn't look like there was anything noteworthy at all in the ER to me, positive or negative.
Unless we're giving out trophies for desperation cost cutting, since even that they did at the 11th hour instead of keeping sensible cost controls to begin with. At this point even standard expectations look like positives instead of neutrals.
"Nothing's changed on the science" is the problem. We have no update of statistical substance since 38.5% years ago, except for that dose escalation study (Or was it combo? Don't remember.). Those results were arguably softer than anyone would have liked. We still know next to nothing about whether the science ACTUALLY works. P3 was supposed to be where we got a good idea and now they're backing off to kick the can down the road with NEO and HOT, still based on unproven tech. Putting the cart before the horse just like with the manufacturing facility if you ask me.
They should just come out and say it if the tech is weaker than they thought, but maybe they'd rather just suck the investor teat until it all falls apart.
I really want to take whatever you're taking, man.
"but they bought shares with their own money a month or two ago, they wouldn't do that if dilution was coming."
This entire thing fuckin stinks.
Lol "impatient". Some of these folks have been sitting on this for over a decade...
What's wrong is a directionless company that decided to burn hundreds of millions of investor dollars with absolutely nothing to show for it. At the end of the day we may not even have a P3 which is the only trial that would've had a decent enough sample size to prove any of this science has been more than sheer dumb luck.
Only thing I can think of is the block of shares tied to the warrants is reserved and can't be issued using other means such as dilution.
Teddy KGB said it best:
"After all, I am paying you with your money. I am still up 20 grand from this last time I stick it in you."
I could see it going the other way too. If you don't need to spend much to acquire the first X%, that means you'd have more money to spend to acquire the balance. The perceived premium would look high to the outside but the actual cost could be very low compared to a standard buyout.
I grapple with the same. It's surprisingly hard to find complete information on creeping acquisitions regulations in the US, how foreign entities fit in, any special reporting exemptions like the one Catt mentioned intended to keep drug prices under control, etc.
Could be. I always felt the 10M dilution earlier this year fits into it somehow, either by intentionally giving a certain party greater percentage ownership or as a takeover defense but I'm not sure which. I also think cases like Edelman were actually just short term flips that were actually for profit rather than loss, but interpreted as a loss by the public because we aren't privy to all the details. I also think all the "mismanagement" over the last few years and "shelving" AXAL fits in somehow, either because the eventual buyer doesn't want it or simply to keep prices lower for longer and buy time for more shares to be cornered. I suspect this was put in motion by DOC and we're just being babysat since.
Admittedly, a stretch. But highly efficient if true and I like to think we're playing with smart guys that value efficiency.
My theory is shares are being cornered and bought directly from the various institutions somehow because I don't think we would be maintaining these levels with only retail support. That would mean some kind of creeping takeover strategy. At some point the balance of shares would need to be bought and that's where we would get our payday.
I don't even care at this point though, just praying for the survival of the warrants before it's too late.
I just don't get why this pointless debate continues endlessly. Either all fabricated to confuse or someone (not sure who) is being baited hardcore and should probably take a step back and reconsider wasted energy.
This theory is a nothingburger unless the company is colluding imo. Too much effort and risk for something the company could easily kill by extending. Unilateral action.
Most shares have probably been cornered already for the creeping takeover, thus no shares to go around.
I have serious doubts that retail is absorbing anything remotely close to this amount when even tutes can't collectively defend the price. Creeping takeover imo
Did you round up? That's a 20% rounding error (lol)
Actually most people here can explain why Advaxis would sell the company for X lowball amount: because it's only worth what someone is willing to pay for it. If the choices are lowball sale or hold out only to die in bankrupt obscurity, then a lowball sale it will be.
This borderline hubris helps nobody.
Nothing a nice settlement can't fix, and probably more cost efficient.
Brought to you by OPM!
"forget about the money you've already invested"?!
For sure, we'll wake up to "ADXS accepts $X merger offer by Amgen for balance of shares after Amgen announces ownership of Y% shares outstanding"
A man can dream.
Could just be that Ken's threshold for filing worthiness is lower than the previous guys'. Not a big enough sample to draw conclusions one way or the other imo.
I personally wouldn't read too much into it for fear of notching yet another in a long line of disappointed expectations.
Seems to have a 1:10 RS baked into the gain so only up ~100%. I would hope decent data brings us higher than $3 :(
Actually it already started, she got 625k RSUs and 312.5k of them vested immediately.
Lmfao
We wouldn't. In some universe where the stock doesn't behave like it's laughing right in our faces it would open low, track up intraday, and close near the high.
I still think a creeping takeover might be in play. I have doubts about retail's ability to absorb the drop in institutional ownership that has been happening for about a year.
Well, I don't really have much other choice than to think that as a warrant holder, anyway.
I see it as the usual antagonists defending against a run up and obscuring the true price action by throwing in a lot of meaningless churn. They've succeeded in doing this more times than I can count.
For once, I'd really like to see a green engulfing candle on a day like this.
Not as meaningful in total dollars moved though, since the price is much lower than it used to be.
Disheartening to watch such a big battle even all the way down here.
Turning garbage into phat stacks in 24h, what a boss.
Lol you mean the deal we made with some company where they owe us milestones totaling like 10x their market cap at the time?
Edit looks like 25x now.
Shh don't jinx it.
Also it seems like they've been having a grand old time grabbing shares from each other let alone retail.
Are there any cases of company success under Sidransky?
Seems like a career darts player, throw a bunch of companies at the street and see what sticks all the while essentially embezzling shareholder funds via gifted shares and other goodies.
Wasn't the GOG trial also the one they closed early?
The sheer ignorance and arrogance of closing a trial early and then not even having sufficient output when push comes to shove is incredible.
I don't see this as a positive, unless it's a precondition for something else. This company has been around for almost 15 years and has been nothing more than a black hole for investor funds.
To say "now we can look towards NEO and HOT" is literally "I'll gladly pay you Tuesday for a hamburger today." This was supposed to be a Tuesday.
Of course the street doesn't trust them worth squat, because they keep moving goal posts. They completely deserve the lack of trust.
TALK TO THE STREET. They're so secretive as if they have the nuclear codes and then come out with this garbage implying nobody is even interested?
Recall how much money was spent on EMA submission throughout Q2-4 2017, including huge payouts to unnamed "consultants" and garbage like that. All of that pissed away with a return of 0.
Literally better if they took a quick drive over to AC and put all our money on black. They are 100% gambling with shareholder funds at this point.
What the hell is fiduciary?
Only a matter of time now before somebody floats the idea that the application was withdrawn to satisfy buyout negotiations.
Seems like Ken is the biotech coroner more than anything else.