No luck with info from CSIRO, they tend to play their cards close to their chests with these things. There was something very fishy about the whole thing though.
I am out now so will just give my impartial view of what to me appears to be the obvious way forward. Just wait for the independent review (double check the credentials of the reviewers) and look closely to see if there is anything of value in the near term. The only way I can see it working is if ATC can be monetised in the near term in order to fund the other projects etc. Without this further capital injections are a definite and I doubt if anyone will fund them. If ATC is dead then I think it should be wound up and cash returned to shareholders. Management will obviously disagree as there goes their meal tickets for the next couple of years.
The whole CZD drama just wastes more time and money that both companies can ill-afford. I have stated before that I can't see any value for AVX holders unless their drug is a definite big winner and that they have a decent management. I think they fall at both hurdles.
I will watch with interest to make sure it is not worth sticking a toe back in the water but am not holding my breath.
Lesson learnt: CHECK THE TRACK RECORD, INTEGRITY AND CREDENTIALS OF MANAGEMENT. Have been watching another small biotech of late, which seems to tick this box so far (PRR) but will be sitting on the sidelines for a while until I am sure. One bitten twice shy. GL all.
AVX Price at posting:
3.2¢ Sentiment: None Disclosure: Not Held
