"it’s been well over 20 years if Vical has been working on DNA-based delivery technology and still no major successes to show for. When you and the Board discuss the potential future of the company, will you include in that discussion things like basically winding down operations and just trying to monetize the existing partnerships you have and give back cash to shareholders?"
Not such a great question. VICL has 2 approved animal vaccines and 2 related tech human products partnered and in trials. No debt and $70MM in cash. A much better question would have been what value does VJ assign to these programs going forward and when does he plan to address shareholders with a restructuring plan.
It's the question that better have the BOD moving fast to answer because the note to investors from Schmidt questions the company credibility following all the failure. Vijay is a company killer right now so if he's not announcing a merger that restores confidence in the pipe he has to go or all ability to attract investment will vanish. Wall Street's doubts are not as great for the technology as they are for the management that needs to leave the building.