Iron Mike,
I'll agree with the fact that the company is aware of what's being said here, but I'll disagree that the company will continue to operate in a secretive style once they really have something to say. LP clearly avoids discussing what the company is doing when she really has nothing new that she can say. I believe this will change dramatically when she does have something to say.
Frankly she went overboard when she announced a date that they'd file in the UK, then had to back of twice as delays that were out of their control occurred. The most I've heard from most other companies was an intention to file in a given quarter, had she simply said fourth quarter she'd have been fine. Likewise, I think time to acceptance of the EDEN is largely in the hands of others, at this point if she said she expects it this year I'd appreciate that.
I don't believe I've ever heard any company say a RFI was received from any regulator, nor do they discuss any meeting they have with regulators, and certainly not any serious discussions with other companies about possibilities, which are always done under confidentiality terms. When something is ready to announce, it's announced.
For years IMGN had been saying they were looking for geographic partners for their drug, Elahere, but at no time said they were actively seeking to be bought out. The announcement of the buyout was the first mention, and it was so far along it was completed in a couple months, whereas the likes of SGEN had taken years. I frankly hated it, though I was certainly better off financially, I believe the company would have been worth far more if they waited for sales revenue to develop.
I'm sorry LP didn't have an Annual Meeting last year, but I understand that she had to feel she'd be inundated with questions on material she really felt she couldn't yet properly discuss. She's clearly waiting for some success to hold an Annual Meeting, and I suspect it will be for both 2023 and 2024, or just 2024 and ignore that no meeting was held in 2023. Certainly if shareholders had gone to court a meeting could have been forced on the company last year, but the OTC doesn't seem to care, and frankly I'm not sure the bigger exchanges would have if shareholders don't lodge a complaint.
I believe that LP controls enough shares to assure a positive vote on any issue she wishes to raise, but I really believe she'd rather bring up issues that logic says most investors will support and have little opposition. To me, taking on an equity partner, or any type, will require more than the 1.7 billion shares currently authorized. As our share price rises dramatically such a partnership may become possible, that would be when additional shares ought to be requested, so I can't see it being brought up until that occurs.
I look forward to the day when LP, or others from the company, routinely appear at Investors, Brokerage, and Institutional Conferences, but it won't happen until our vaccine has at least UK approval. I believe the company will be very different once that happens and DI has alluded to it in discussions with various posters.
I hope each day isn't a binary event, down if we don't announce approval, up dramatically if we do, but I suppose it's a possibility. If we've had no RFI, we're speaking of under 15 trading days, but if we had a RFI it could be as many as 55 trading days. I really don't believe the UK will provide any hint of when they'll announce, but certainly I could be wrong about that. Practitioners of TA will say there is always a Tell, but if there is, I doubt if many of us will see it, but they'll point to something and say, this is how I knew. Rarely do they announce knowing before an event occurs.
I'll certainly admit that I have no idea what the company intends to do when notified of the UK decision, which I feel about 90% positive about. At minimum, we'll get a PR, but the maximum could be webcasts from the company, and a major campaign in the major media worldwide. That's a very broad spectrum, but anything is possible. Both the FDA and SEC abhor hype, but announcing what truly is a new paradigm in the treatment of brain cancer shouldn't be considered hype if after examination it's true. To add to it, what applies to brain cancers should apply to others isn't a huge stretch. If the media runs with the story, no telling how high the share price could go, but ultimately it will retrench some.
Gary