I tend to agree. I’ve mentioned several times over the last few months that this would be the inevitable outcome. Stripping away all the noise, the share price wasn’t built on any fundamentals but rather hype (in my opinion). I’m not confident that even if CD12 were successful that it would have justified $7-8/share. Will all the vaccines and ER’s clearing out, the urgency is lacking.
I also believe the only reason Cytodyn was the “only player remaining in these trials” is because other companies didn’t find value in the S-C arena. It’s too difficult to prove that people aren’t recovering on their own. I also believe last nights CC was an unmitigated disaster. Felt like a total CYA call....going as far as bringing in the doc from Sinai Hospital.
It’s now clear the endpoints were not met. The FDA isn’t biased but rather judicious. They ask one question: “did you hit the primary/secondary endpoint”? When the answer is “no... no, but but but”, it gets denied.
The pivot to oncology was a head scratcher considering that they fired the chief oncology expert in Dr Pestell and haven’t been filling the tnMBC trial. HIV BLA is now pushed to the end of the year: what went from two weeks, to two months, to end of 2020 to 1H 2021 and now EOY 2021. One would think there are major problems outside of just manufacturing details about syringes.
Big loans to Fife and Samsung will burn any cash they have and with the stock in the $2’s (as I predicted) it’s going to take a lot of shares to raise cash. My belief is that Chapter 11 is the end game.
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