Thank you for all the compliments, but I think my return will be short-lived.
@J8 I am not saying Nant is a Corporate Raider but, until we know where the money is going, things certainly point that way. This is something that can easily be cleared up by an announcement about our pipeline.
I thought that I would explain what I mean by using your excellent points as a base.
Interesting opinion. I wonder what Nant stand to gain out of raiding Benitec. What they gain is one or two (virtually) free clinical trial(s). They could have easily done that already, or listed their own new company, without the hard yards and cash they've put in here. They have not done much to-date because they are not after the cash for cash's sake. They want to use the cash to de-risk their own search for oncology solutions. Let's look at the situation so far. Nant only invested in Benitec provided we undertook to advance the HNSCC antisense program, with a ddRNAi extension. But Nant did not develop the antisense IP. They licensed the IP and, possibly, on a royalties only contract - so no upfront cash. Bear in mind also that the original clinical trials were done years ago. So why did Nant not do what Axovant has done? Why insist on taking a share of the company for a program in which they had little previous commitment? Sure their product is in trials but the bigger plan seems more comprehensive and involves ddrnai and our lab. Patents are worth zilch. The cost of listing isn't anything PSS is afraid of, so what is he raiding? Again, free/low-cost clinical trials. This is a fledgling company and if something actually works...... PSS will make money and be a bigger hero. If it works, PPS will make a bigger bucket load of money if he owned the whole shooting match. The revenue from the sale of the drug(s) would far outweigh the increased value of his shares. Furthermore, he would not be the hero, Benitec would be. He would be consigned to a bit player. Does that sound like PPS?
I would be expecting them to hold a conference soon. It's overdue but it may not even be on the agenda anymore. I think that the money they have now only just covers what they have promised for the next nine to twelve months. I see no need for much further explanation myself. There will be new indication updates soon too, I imagine. We also know the lab has not given up on viral and eye indications. How do you know this? I have seen no commitment from the new team, only the stock standard "this is our current pipeline" information. We were going to develop a CAR-T program. Where did that end up. Oh yeah, a competitor forged ahead and sold the technology to a major CAR-T player while we went to sleep at the wheel. Then there is 501. All this is going to cost dollars, which we still do not have spare imho. Spot on. We have no spare cash and so, if all we have goes on antisense on 501, then Nant will have taken complete control of our direction. Yes, we have the outsourced developments for Axovant but they will be Axovant pipeline programs. Where will the cash from these be directed?
I'd reckon the AGM will provide more clarity. I hope it does but I fear it won't. Look at the Annual Report - all gloss. It was the least informative AR that the company has produced, IMO. That's the usual form here. I'm still calling this a buy. It could be a great buy, but without more clarity about the company's direction, I think the risk is very high.
If Nant is going to make a move, my guess is that we will not hear much until the middle of next year. By then, the OPMD trial should have started and the $17M should be in our bank and the early results from the antisense trial will be known. I think, if Nant is a Corporate Raider, it will await these two bits of information before making a decision. On the other hand, if management starts to release information (assuming it is positive) and they start to drive the share price higher, then Nant could be the White Knight and I will by happy to have my concerns torn apart.
Just my opinion. Shell, here I come.
