The reality of it is that we are a Phase III late stage biotech and yet we only have a valuation of less than $300 million, and our closest competitor is valued three times us. Something is off. If ADXS has the goods, we should be valued higher than we currently are. Sure the shorts have us hostage, but ultimatley the shorts and market values companies where they are for a reason. For ADXS, what is that reason? Is the platform not as promising as we originially thought? Is there growing competition in the space and ADXS has fallen behind because of slow execution and mis-steps? Is it because of our growing burn rate and numerous dilutions done at low prices with only one monetary deal struck (Amgen) to date? Is it because Astra and ADXS mysteriously severed their relationshiop and our management was vague with no credible explanation? Is it overall poor leadership and a greedy self-serving CEO who has repeatedly put his own financial interests above his investors? I would argue a combination of all of the above are reasons why our stock price is currently $6.57 compared to the weighted average cost basis of around $12 that new investors over the last four years came in and recapalizated the company. I really do think we need a replacement of O'Connor to restore market confidence and trust in the company, which is broken IMO.
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