Tuesday, October 23, 2018 9:37:15 PM
High burn rate, established by prior management in the waning months of a bio bubble, could not be sustained by (expected) spec SP valuations.
Slow/inadequate action by interim management, which was in place for several months, leaving a very short cash runway relative to the pipeline funding burden, and insufficient authorized shares to raise significant capital at more favorable valuations.
Meanwhile during those delays, all the while at high burn rate.. a clinical hold, partnerships silent/defecting (AZN), unclear future product development planning, and general sector headwinds led institutional investors to leave in droves, putting intense pressure on the SP.
Given this state of affairs, the only viable first action to right the ship would be to lower the burn and raise capital, no matter how painful, because the alternative is liquidation. If a favorable deal was available, they would have taken it.. but it wasn't available. This is crisis management.. what would any of us here have done differently?
I still hold hope that an AXAL partnership/licensing/sale is in the works.. if not, then IMO it would have been shelved in that PR.
Apologies for the long post, but FYI, I'm still holding.. because.. why the hell not?
Best to ADXS and the investors!
Recent ADXS News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 12:13:01 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/05/2024 09:30:45 PM
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- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 11/21/2023 02:00:50 PM
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- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 11/15/2023 09:04:59 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 11/08/2023 09:01:18 PM
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- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/31/2023 11:08:02 AM
- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 10/31/2023 11:05:10 AM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 10/23/2023 10:45:21 AM
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