Siren4 - I know nothing about the LMIG's activity. My point is - this behaviour is not appropriate nor is it achieving what the group nor us want, which us for an increasing sp. Basically I feel it is impacting negatively on the sp and will cap any future rise based on fundamentals.
Maldowl - you raise a number of points. The group came together about 2 mths ago. I don't blame them for the current sp range. I am saying they do not help the sp improve. I don't care if they haven't been able to make it reach the strike price. They don't control the sp - the market does so it is out of their hands. I care about progression of evolis to support the subsequent progression of our midkine portfolio. I sold my oppies when we had that spike to 5c in the heads due to being burnt by oppies in the past. Anything with a time decay factor is risky and I don't like margin loans or shorting either for the same types of reasons. But that's my investment profile (now). Much more gung ho in my younger years. Again, I know option holders will be feeling the pain and I do feel for you but I don't think the company is to blame. I've been invested in and have looked at and tracked many many bios. Everything takes much more time than investors would like. Without cross promoting, I am invested in obj and I see holders bitch and moan about how long it has taken to see any revenue from their P&G license. Like they have any control over that... I'd be equally frustrated if a group formed and pushed for a board change there because their personal timeframes weren't met. Let them get on with the job as long as progress is being made. There's no denying CDY are making great strides on the evolis front and I say let them get on with the job.
On the topic of midkine, how exactly would you like to see things progressed? List out a few cases within our portfolio and what you feel should have happened by now. Please also state exactly how you think they will fund any of that. I don't care about first mover advantage - our patents surrounding midkine are comprehensive. We need to keep an eye on expiry of patents though so I will give you that for an element which may require haste, but I'm not sure we have any power or control over things short of progressing to phase 1 trials which is capital intensive - so I'm not in favour of pushing hard on that front right now as mentioned.
In terms of knowing exactly what steps the group want to take next - my point is there shouldn't be any steps. They invested in a company and its management. The company's strategy is simple and clear. Build evolis, get cash flow. Fund the midkine dream with that cash. We are 1-2 years away from that goal imo... We're still severely vulnerable financially and in 1-2 years we can focus on 1 or 2 of our promising options. CAB102 being the most logical option to progress to phase 1 trials off the back of the pre clinical trials. We would still need to be very careful about what we spend our limited cash on.
We could potentially get a boost if the sp appreciates alongside our evolis revenues. A raise at higher prices would be easier to swallow and could give us a good injection of capital. Personally I'd prefer not to raise but we do have to keep in mind our patent expiry cliff...
Anyways, my main point is that I don't feel the group's behaviour is helping in any way and goes against the objective of all investors which is to see an appreciating sp. we are definitely on the cusp of big things and I'm extremely excited about our impending entry into the US. This should be a time of great excitement and we're now distracted with this rubbish... Risikio's post was comprehensive and pretty much sums up my thoughts. I initially invested for midkine and evolis was a 2ndary thought. However having seeing its growth profile and the goals they have been kicking it is now my main consideration for staying invested with any midkine developments a bonus in the short term. We are cash strapped so let's be realistic with what we can achieve with that little capital.
Best wishes to all holders.
CDY Price at posting:
3.0¢ Sentiment: Hold Disclosure: Held
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