From buy to hold, no choice...
Oh yes, I believe in the pipeline. And, I held through the reverse
split. But, lo and behold, nothing prepped longs to be diluted 80% plus in one fell swoop on top of the dilution. That's a horse of a different color.
To my senses, the Flavins were selling one day, the day we hit 600K
in volume last week. They have enough shares to do that 400 more times.
Needless to say, I took my 53% loss on a 5% position, a 2.5% overall whack to my total net worth.
What was our market cap usually? $5 million? That means good old ADLSD is headed for a nickle and below.
They need that grant this summer. No grant, I cannot tell any more how deep this crater is.
And, issuing that many shares was unnecessary. They need $1.6 M. per quarter to cover their burn rate. 10 M. new shares would have been fine, perhaps 15 M. to carry them through the end of July.
Instead, they whacked us heavy and hard.
I will be watching, but until I see a proper funding source in place, be it a grant or a government contract, I am not coming back again.
Lastly, it is my unfounded monkey suspicion that someone in this world, someone in Big Pharma, has called in a few favors to put a few hurdles in front of this company and cithro. It is just too silly how long it is taking to put this drug through the process.
The FDA is moving too slow, requiring unusual degrees of efficacy,
forcing us to jump through a whole new paradigm for a NDA approval process... given I think Restanza has national security implications, it is just unfathomable how it has become tied up in this situation. Would a JV be so complicated? Guess so...
ADLSD, you and I are through. Check out TLON folks, you can make it back over the upcoming months...
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"Politics is such a torment that I advise everyone I love not to mix with it." - Thomas Jefferson
