Communication with IR today. VG future, OK here is the complete conversation alexrenard07 on ST had with IR just minutes ago:
ok so just got off the phone with IR here's how it went, I'm paraphrasing what we both said:
Q: Why do the slides from the JP Morgan conference list it as a phase 2/3 and only RSBQ if it had already been changed to a Phase 3 and to RSBQ-AUC?
A: Phase 2/3 and RSBQ were what was publically known so the company could not present alternate information without releasing it publically before hand.
Q: Then why didn't you do that?
A: There are certain things we wish we had done differently? The changes were made at the request of the FDA.
Q: You are confirming that the FDA directly requested that Anavex change the trial to a Phase 3 and that the endpoints be changed?
A: Yes I can confirm that.
Q: Why on the conference call did Missling talk solely about the FDA guidance and nothing about the UK or Australia, and then on today's press release it was the exact opposite?
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A: because we already clearly stated it was on FDA guidance on the CC on Tuesday.
Q: (more of comment) if you are issuing a press release to clarify something, you should include all the information. If on Tuesday you said the changes were done because of "X" and then on Friday issue a statement saying the changes were done because of "Y and Z" and assuming people know that "X" is implied to still have occurred, you're not really clearing things up.
A: We will take that into consideration.
Q: On the conference all on Wednesday are we going to get some actual answers, or some more "literally around the corner" type answers.
A: The call on Wednesday will not be used to appease shareholders. There will be a clear and concrete plan laid out for the company.
He also said a bunch of stuff about how all the delays were due to covid, I let him know that if the company would have just told shareholders what he told me it would have answered all the questions about the delays.
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one last thing. I told him most of my anger comes from the fact that I reached out him multiple times last week telling him that it looked like the company changed the trial endpoints after seeing the data and if they would have just issued a press release explaining the changes were done at the request of the FDA, plus the UK & Australia regulators then that alone would have been a huge positive for the company and would have allowed for this whole mess to be avoided. He acknowledged that could very well be true, which really surprised me, and that the company has discussed internally that it needs to look at how it communicates with shareholders. He said he talks to Missling "every day". Anyways, I feel a lot better after I got off the phone. Still hate Adam F. though, second time this guy has smashed my AVXL holdings. Let me know if anyone has any questions.
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My RedShoulder comment here. As you can see Missling needs a trusted and communication savvy advisor(s) to work with in communications that should be correct and complete including timely. Other than his poor communication skills I support him 100%, he has done a fantastic job in bringing the company along in trials to date on a shoe string; and also an outstanding job in raising capital, including having other interests like MJ Fox Foundation paying in part for trials, and securing enough money in the company treasury for 5 years of operation and with zero debt.
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