Cynata is being run by greedy board members. None of them are promoting the company. They are just ticking boxes with clinical trials.
Let's take Brookes as an example. He takes around AUD 250,000 per year sitting on boards and attending a few meetings here and there.
What exactly is he or any of the other doing to promote Cynata.
The risk of being taken over for less than A$1 is real in my opinion.
Instead of finding a top notch CEO, the board promoted Kilian because they simply couldn't be bothered to do the work and find someone with a solid track record, and someone who can effectively drive value for shareholders.
Unless a new CEO takes over (depends who that would be of course), the shareprice will continue to stagnate.
Imagine if great Phase 3 data comes in next year and we're sitting at around this level. Disaster. A big pharma would have this for peanuts.
In my opinion, an EGM is the only way..... and it's coming.
I've been invested for 10 years. If the past behaviour of the board is any guide to the future... we have a problem.
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