management doing its job

Have had a closer look at todays announcement and its my belief that a few people may have misinterpreted what imo is a really good announcement and resulted in buyers standing back and pushed the price down.

The announcement is a good one showing Matthew Lehman and his team working diligently to not only progress Prima Biomeds potential but also to get value for money. Why do I think this?

Its all in the announcement:

Key Points:

1.The reorganisation is intended to support the Company’s development, especially as the US and European operations take on increasing importance, and to reduce the Company’s administrative costs.

2. Matthew Lehman, Prima’s Chief Executive Officer, explained “We are very excited about our development program for CVacTM and look forward to capitalising on our strengths in the field of personalised bio-therapeutics.

3. To support our strategy, we need to maximise funds available for our research and development. It makes good sense to bring our legal expertise in-house and to streamline some of our administrative and finance functions to outside of Australia. I am confident that the addition of Ms Miller to the team and Mr Voigt’s appointment to CFO will benefit the Company substantially.”

4. Deanne Miller, LLB, earned her LLB (Hons) and BCom (finance and accounting double major) from the University of Sydney. She brings strong experience in corporate law, tax, and regulatory compliance, having held various positions of increasing responsibility at organisations such as KPMG, Westfield Group, Australian Securities and Investments Commission (ASIC), Macquarie Group, and Westpac Group.
Ms Miller will be based in Sydney. Mr Voigt is based in Berlin, Germany.


All I can say is WOW! Matthew Lehman has secured inhouse expertise for the company that is going to cost LESS than previously was the case.

Remember, signing up hospitals and patients and treatment and assessments is complex work with legal contractual obligations. Can you imagine the costs if this work was to be done piecemeal by external law firms as has been the case. All done inhouse now and as Matthew has pointed out it reduces cost. This ought to have gone down as a plus but instead the market imo played the news incorrectly.

If one looks at the tone of the release, the word "exciting" being used by the CEO, to me it sounds like the company is going places and that they are very confident in respect to Cvac. To have attracted the calibre of people they have is another strong endorsement for the company.

I think I read in one of the posts today that they thought a capital raising could be on the cards and in reality there is no such inference in the announcement made. In fact they are cutting costs so we will get more bang for our buck.

We dont need any capital raising just yet as there are enough debt free funds to cover around the next couple of years based on current and past expenditure. There is also a credit facility available should it ever be needed into the future and a debt free draw down facility from the 4mill Euro grant in Germany. Whether a partner is also engaged sometime in the future and under what terms remains to be seen.

So all in all ,the company has engaged in a proactive process to progress its work at the least cost and the market instead of responding as would merit came out with a raspberry. Maybe I am wrong but to me it just doesnt gel and they have wrongly interpreted the announcement. Maybe because it mentions the words "capital raising in respect to the thanks extended to departing Ian Bangs for the past capital raising may have been misread or taken in the wrong context lol. The sells at lows were not that great in volume but never the less seeing the 11.5c closing price might spook some holders.

I look forward to reading others views and await for the market to wise up lol. Just my own opinions and observations. Please DYOR.

cheers