Nexien BioPharma Inc (NXEN)

[Renegades17]

Management

My criticism of their approach to IR isn't that they aren't updating when something material happens. Instead, I think that they could do a much better job of explaining the strategy. Alain put out a letter to shareholders in the Spring and after that, there were some material developments in the business. He could have put out a follow-up letter after the 10-K to discuss the key points regarding strategy and financing. Instead, they just expect investors to "refer to the filings". That's not a smart approach to IR.

In the absence of quarterly calls, which I doubt we'll get for some time, he could at least put out a quarterly letter highlighting accomplishments and future milestones. He could also discuss the vision for the company. This is particularly important now that they've acquired CRx.

I know Friedland was promotional, and it got him into trouble, but he was out doing interviews frequently. He actually would avoid speaking about Intiva, which was ultimately beneficial to the company as it avoided being embroiled in his legal troubles. I think Alex and Alain should try to do some interviews as well to explain the strategy and outlook. There's nothing wrong with doing some outbound PR, periodically, to explain the activities of the company. There's multiple avenues now to do that.

I hope the CSE listing jumpstarts their outreach efforts as they'll need to do more to court institutional investors.