Not sure if the scientific board was in place back then. I'm not saying not getting Breakthrough Designation was a big deal or failure, just saying they haven't gotten everything they asked for, and it took a year longer than expected to get the SPA. At the time BTD was rejected, the company said the FDA said that the trial data didn't meet the criteria (the Phase II cervical cancer data). The data was strong, but for some reason the FDA didn't think it was compelling enough in meeting an unmet need meriting accelerated review. To ADXS' credit, they later got Fast Track Designation, which is one notch below BTD but still very impressive.
Regarding DOC's being asked to resign, I think the Board probably disagreed with his business strategy in that it wasn't generating in shareholder value given the drop in the stock price. Sure it went down a little more after he left because of the uncertainty, but before he left it was still 40% below the recapitalization price of $12 that investors injected more than $200 million over the last four years. I expect we're about to see a material deal announced with significant upfront non-dilutive cash that we wouldn't have seen with DO still on board, or possibly an outright sale, but I think it's more likely we will see a material deal and won't see the timed dilutions that Dan did after every past deal that embolded the shorts and has pressure the price down. Just as importantly, we're going to see more of a focus on creating shareholder value as opposed to the massive compensation grants Dan insisted on giving himself and the executive team irrespective of value (lack thereof) investors see.
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