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“ He has been around for 10 years surely he learned something?!?!?!”
He did learn how to make millions off the backs of hopeful shareholders.
A letter to the directors will do nothing. If shareholders really want change, they should vote against the re-election of Missling and the other directors at or before the annual meeting. Index funds will automatically vote in favor but they hold a minority of the shares. Retail shareholders have the power to force change by voting against Missling and the other directors.
Anavex needs a complete makeover. New management. New board. New name. The time is now.
You just love to set people up for bitter disappointments. It never fails. Noble will be a nothing burger. It’ll be Needham all over again. Why do you do it?
Totally agree. Missling does not inspire confidence. A first-time CEO with a sketchy track record and no relevant experience in drug development, regulatory affairs, business development, or commercialization means AVXL will languish. In the past I’ve referred to Anavex as a “show me” stock, and that’s exactly what it is. No professional investor is going to risk his or her reputation or career betting on a guy like Missling. There are plenty of fish in the sea that potentially can give outstanding returns without career-ending risks. Investors bet on management first and science second. It’s always been true and always will be true.
As I’ve said before, Missling is neither indispensable nor irreplaceable. Being loyal to him and defending him has been detrimental to shareholder value. For whatever reasons, there are posters here who defend Missling no matter what even as the value of their investment has collapsed because of his incompetence. The only explanation I can think of is that people take a position and don’t want to lose face by admitting being wrong.
As another poster on this board is fond of saying, Be an investor.
Skitahoe - My honest answer is we don’t know whether they can develop a proper application or not. Missling has no experience at doing regulatory filings and he doesn’t seem to be very good at seeking or taking advice. But the bigger question is whether the actual data will hold up under regulatory scrutiny. From what we’ve seen (or been shown) thus far, I think that’s an open question. My opinion is Anavex will need to perform additional trials first. We’ll just have to wait and see.
I think the science is interesting and deserves a fair shot to see whether it has clinical utility and is approvable. I can’t say whether I’m optimistic or pessimistic about the science because of the concerns many have expressed over the years, though if I thought the science was bad I’d be long gone. I just don’t believe we have the right CEO to execute a successful business strategy and plan. It’s very frustrating to watch such under-performance, which is reflected in the dismal stock price performance. Somebody intimated yesterday that the science would win the day or not regardless of Missling. I disagree. You need solid management to develop a drug and get it approved and onto the market. You also need a CEO who is a great salesman and can persuade skeptical investors to get involved. Missling is not that guy. He’s demonstrated incompetence on a regular basis in a myriad of ways. There are a lot of reasons to be skeptical of the trial design and trial data as it has been presented thus far, which is unfortunate. And by the way a lot of investors feel the same way. His credibility has been so badly damaged (and the company’s association by way of association) that I fear it can never be restored. Missling is not indispensable nor is he irreplaceable. I think shareholders would be better served by the appointment of a CEO with a strong track record and the respect of pharma and Wall Street. Doing so would give the science a better shot of success (or failure).
So in sum, if I thought the science was plain bad, I’d be gone.
“I am hoping that 2-73 will be approved for OTC and 3-71 will remain a prescription drug.”
That’s a fantasy. Even Missling has never suggested or intimated such a thing about 2-73.
I’m hoping global warming will reverse.
I’m hoping nuclear weapons will go away.
I'm hoping all human diseases will be eradicated.
I’m hoping to win a billion-dollar Powerball.
I’m hoping a lot of things but there’s a little problem called reality.
George would seem to disagree, per his repeated posts touting 3-71 being “orders of magnitude” more potent. It would be nice to hear directly from him, not than I’m holding my breath.
Nice try though.
Non-sequitor. Why did Missling push 2-73 if 3-71 is so much more potent? 3-71 is not a new discovery. I know George won’t answer. Maybe you can.
You probably can’t since there is no good answer.
I know. My point was not that George would answer the question but that he would not answer the question.
It’s a good question, though. Right? A 3-71 is not a new discovery. Why put years and millions of dollars into 2-73 when you’ve got an orders-of-magnitude more potent molecule sitting on the shelf?
Still waiting for your answer to my question. Why didn’t Missling advance 3-71 years ago instead of wasting time on 2-73 if 3-71 is so much more potent? We’re all waiting for your explanation.
Then please explain why Anavex didn’t advance 3-71 years ago instead of wasting years on 2-73. It’s not like the phantom Sigmaceptor platform that nobody’s ever seen or knows where it’s located suddenly created 3-71. It makes no sense to me but I’m sure you’ll come up with some creative explanation.
The only thing I expect for next week is that by next Thursday or Friday you’ll be telling us (yet again) to expect GREAT NEWS within a fort night.
“The stock market is the biggest scam in history.”
I’ll add this to my list of excuses that are designed to let Missling off the hook.
Will the day ever come when Missling is finally held to account? I hope so but have my doubts.
I believe the Boeing 747 is a great airplane but it takes a competent pilot and crew to fly it. Science is no different.
Don’t confuse loyalty with investing. As you know very well, being loyal to a stock is a sure fire way to lose money.
I know it’s hard to wrap your mind around the idea that you can own a stock and disagree with management. Have you ever heard of a little company called Disney? What about Tesla, or Norfolk Southern, or any other company with dissident shareholders? Have you renounced your citizenship because you disagree with Joe Biden?
I’d like to see Anavex succeed or fail on the merits. Missling is an impediment to that. It’s not really complicated.
George posted a link to the three videos and I watched them. I gave my honest impression. I’m not sure what your problem is.
I actually don’t think George is irrelevant. You on the other hand…
You may not like what I have to say but at least I’m honest in my criticisms of Missling’s leadership and his complacent BOD. I believe he needs to go so that Anavex has a chance to succeed (or fail) on the merits.
When it comes to Anavex, I haven’t been wrong yet in the things I’ve said. Maybe someday but so far I’ve been spot on. You may disagree with my analysis and the opinions of others who are critical of Missling but I don’t make ridiculous predictions or try to pump up the stock so I can sell into a rising market at the expense of bagholders. Unlike some, I don’t tell people what to do with their money. Have you ever heard me tell anybody to sell? No, you have not.
Maybe you need to go play some golf with MikeDotcom and cool off a little.
I watched the three videos. Your heart goes out to these girls and their parents. What I saw was very debilitated girls even when taking Blarcamesine. I also saw parents desperate and hopeful for any sign of improvement no matter how small. Sorry to say this but if this is the best that Blarcamesine can do, I don’t see much to get excited about. No miracles here.
Thanks for posting the link.
Agreed.
The growing reality about Anavex under Missling is hard for a lot of people to digest and accept. Some live in a fantasy world they simply cannot escape whether it’s Anavex, vaccines, or the fact that the Earth circles the Sun. Others come around, if slowly.
There is still hope the board of directors will finally reach a breaking point and pull the plug on this guy, though I’m not holding my breath for it happening very soon.
There isn’t a single investor anywhere who believes the EXCELLENCE trial was a success. When a stock tanks on the disclosure of clinical trial results, there is no way that can be considered a success.
Easy. When Missling is replaced with a competent, respected CEO.
The biggest pumper on any stock message board lecturing people about spreading FUD. That’s rich!
I’m reminded of the expression There’s a sucker born every minute.
Missling mentions anti-aging because he has nothing else to hang his hat on. He knows people need something to keep hope alive. It’s all nonsense but it sure gets people talking.
I don’t bash the stock. That’s your job. I bash the horrible CEO whose fumbles, stumbles, etc., have held back progress, damaged credibility, and hurt the shareholders.
Feel better now? You must have had a bad night. Hopefully you can hit the course today and get some fresh air.
I’ll believe it when I see it. As to being a loyal investor, I’m not loyal to any investment. Loyalty to a stock is a sure why to lose money.
I’ll be delighted to be wrong but I don’t think I will be. I noticed from yesterday’s presentation that an undisclosed CNS indication was listed among the near term catalysts. That’s the third or fourth year in a row. Missling seems to have a different definition of “near term” than I do.
The presentation was awful. You’re not helping anything by posting it. Missling needs to learn (or be told) what constitutes a good presentation. It’s not rocket science.
By the way, aren’t we about halfway through the next fort night?
I don’t know how Missling defines non-dilutive, but when you put stock to LPC and LPC turns right around and sells the shares, that increases total shares outstanding, i.e. dilution.
No serious institutional biopharma investor is going to fall for Missling’s word salad.
I guess my point is that if you have 15-20 minutes to tell your story to potential investors, you shouldn’t waste you time (or theirs) with things they could care less about. The point of an investor presentation is to tell them what they need to know (data and regulatory strategy in particular) and not confuse or dilute your message with things nobody cares about in terms of deciding whether a stock is a good buy or not. Thanking MJF, along with about 80% of the other stuff Missling throws in (like precision medicine, which is nonsense anyway), or like how big the AD or PDD markets are, merely serve to distract and dilute the message. Missling’s message should be as follows: We have a novel science; a pipeline of drugs in various stages of clinical trials; data from several mid-to-late stage trials; a plan to achieve regulatory approvals; a commercialization plan; a great team of employees, directors, and scientific advisors; and the financial wherewithal to execute the plan. His presentation could be 10-12 slides and be done in 15-20 minutes, with time for Q&A. What I see with Missling across the board is that he seems to equate bigger with better. More employees than necessary for a small biopharma is one example. More slides than necessary to tell a crisp story is another. Instead, he throws everything at the audience and hopes something will stick.
Where are Clint and that Barwicki guy? Have they told him and he doesn’t listen? Do they know but also know he doesn’t want to hear it? Or do they not know. Whatever the reason, the presentation is an epic fail.
You know what else has been going on for decades? Nutty conspiracy theories that sometimes sound plausible but have no basis in fact or supporting evidence.
Another tick for the “It's all Adam Feuerstein’s Fault” category of Missling excuses. That one seems to be the winning one so far.
45 minutes of dense slides that by the way never even mention the company’s patent position. How many times does he need to thank Michael J. Fox Foundation? Focus on clinical trials and regulatory strategy. That is pretty much all investors care about. Nobody needs to be told how big AD or PDD market is. Nobody needs long winded explanations of SR-1. They can look it up in they are interested. Hook them with mid-to-late stage data and regulatory steps. They’ll do the rest. You’d think after all these years he’d have figured out the secret to an exciting, memorable presentation, or at least one of his illustrious IR people would have told him.
First thing on a Monday morning (5:45 Pacific!) and we got a 45-minute dissertation that covered the entire waterfront instead of a short, punchy presentation that would get people buying or at least looking into it more deeply.
I’ll add your response to the excuse category titled “it’s all Adam Feuerstein’s fault”.
The only immediate threat to AVXL is Missling. His track record of fumbles, stumbles, goal post moving, cherry picking of data, missed timelines, and horrible communications (like today’s latest way-too-long, way-too-dense, and boring presentation) has destroyed whatever credibility Anavex/Missling may have had at the start of this journey. None of this is opinion. It’s well documented with a simple Google search.
Conspiratorial nonsense. The lawsuits are the direct result of Missling’s fumbling and stumbling, or perhaps fibbing.
Missling (and by extension his loyal supporters) are always the victims. He is your and other’s retribution against the evil forces on Wall Street and pharma. Nothing is ever his fault. The buck never stops with him.
It all sounds strangely familiar. Don’t you think?
“AVXL price languishes because ALL NEWS is Lawsuit, Lawsuit, Lawsuit.”
Yes. And whose fault is that do you think? Will you concede that it could be Missling’s fault or will you default to one of the many plausible-sounding conspiracy theories that let him off the hook?
I’m a shareholder who knows Missling is among the worst CEOs in the industry and should be shown the door. I’ve never said I was loyal. I’m not loyal to my investments.
Loyalty is what causes investors to lose money. You oughta know.
“How is it possible that the AVXL price languishes at current levels when such HUGE potential exists?”
Simple. It’s because nobody believes anything he says. And why should they? The guy’s track record is awful.
If I have trouble falling asleep tonight I’ll watch the replay of the presentation instead of counting sheep. I should be out by the 5th slide.
Watch the analyst. She seems to be reading her emails. She also looks antsy.
If you want nuggets, go to McDonalds.