Fundamental question: why should ADXS owners trust and give ADXS management another 30 million shares when 1) over the last four years management has shown they are poor stewards of shareholder capital and focused disproportionately on lining their own pockets at the expense of shareholder interests, and 2) Lombardo has been at the helm now for seven months and has shown very little in terms of changing our direction, more delays (on NEO and Europe filing) and no Europe deal (despite the company publicly stating in January 2017 one of its 2017 business objectives was to strike a Europe commercialization deal).
At this critical juncture of the company having blown through more than $200 million in the last four years while shareholder value has eroded by 75%, coupled with the market at all time highs and biotech M&A on fire, coupled with our late stage, attractive pipeline, why not organize a group among our shareholders, led by institutional investors such as Adage, to put the company on the auction block and engage potential buyers like Amgen, etc., directly. Given ADXS' dismal track record of management mis-steps and mis-alignment with owner interests, there's not a lot to be confident with in handing over another 30 million shares to this management team and letting them continue to run the company independently. My bet is we could currently sell the company for at least $500 million ($12 share price net of cash), given our pipeline and deals with Amgen and Sellas with potential milestone payments over $800 million.
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