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Re: hovacre post# 92446

Tuesday, 02/12/2019 8:31:18 AM

Tuesday, February 12, 2019 8:31:18 AM

Post# of 108192
Hi Hov, I've had your point #3 in my mind for quite some time. I would conjecture that ADRO's highly-valued IPO at the end of the last Bio boom and their subsequent retreat from Listeria vector (with the corresponding trial whiffs and partnership fails) are the *most* significant driving forces behind ADXS' latest rise and fall. I believe the aggressive (now-seen-as reckless) spending path and product price profile ADXS took was presuming Bio boom type valuations and availability of capital infusions from markets and BP. The confluence of ADRO's crash, the receding Bio boom, and previous management's ready-cash presumptions left ADXS in its present state of extreme vulnerability.

Humble thoughts and opinions.
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