now what, page-90

Hi Guys,
So my hypothesis based upon Gogo's post is that the board will have proposed deep staffing cuts and a withdrawal from their earlier stage programmes (note the withdrawal from the CSIRO link a week or so ago. JC probably said "Not on my watch" and the board pushed him to fall on his sword (or indeed pushed him onto it).
I must say that this is a common theme with most Aussie biotechs (Cytopia, Progen and now Avexa). The market does not recognise early stage programmes as being valuable despite the fact that the business we are in (as shareholders and soldiers) is all predicated on a 10% success rate (at best), and that the odds on any one molecule making it is heavily stacked against success. A one trick pony is always a dangerous play. Avexa was still in there with their programmes until last Friday, and now they are in an incredibly vulnerable spot; all is staked on ONE throw of the dice.
For me, (and I have been an investor in the area [including Avexa, may I add], and been in the area as a worker for many years) Avexa and Cytopia were the two shining lights of Aussie biotech; both are now mere shells (Avexa a one trick pony; Cytopia an out of the way outstation of a Canadian company) . Good scientists were doing good stuff. Shame on us; we have wasted some terrific opportunities...
Some good points about why someone who is not a shareholder (viz ME!) would post here on this stuff. Well, I have been a shareholder of AVX, though no longer, and I genuinely care about the people who invest in biotech....I posted the news about the redundancies because I was "cheesed off..." about this happening when the market did not know about it ( Jeez! The bulk of the senior management has gone; not to mention the capacity to deliver on ANY of the current programmes).. Why are the shareholders left in the dark about this. And why is the dismissal of some fine people not fit to mention....
Sucks, I reckon...
I hope the news is better than I fear...best of luck
K