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Aeterna Zentaris Inc. Message Board

  • dscobash dscobash Sep 25, 2013 1:55 PM Flag

    Why do people here say AEZS is undervalued?

    Every time I here that phrase on this board all I can think is that someone obviously doesn’t know how to do their DD, or that they are just flat out lying in the same way I believe this company does to their shareholders. First of all, at this time (end of September), they have at most anywhere from 21 to 23 million dollars left. And that is only if they tapped into the ongoing ATM near these historic lows. Many posters here are pretending that the company had zero cash burn during the 3rd quarter. Just as the company keeps pretending that their cash burn is less than 2 million per month when in fact it is closer to 3 million per month. Why is deception the only way pumpers and this company know how to present reality? The royalties from Cetrotide are about to end in exchange for a meager cash payment that won’t last through the next quarter. Then no more royalties. Only cash burn of future dilutive financings. The NDA for AZ-130 is still missing in action even though Dodd has publicly stated more than a month ago that they crossed the last obstacle in completion of their “quality agreement”. So where’s the NDA? What will their next excuse be? That they have yet to complete a spell check on the application? Excuse after excuse after delay after delay as the cash keeps burning away producing nothing. At the current enrollment rate of the AZ-130 trial for the treatment of Cancer Cachexia they are years and millions of dollars in burn from providing any results, good or bad. And at the current rate of enrollment AZ-108 is decades away and 10’s to 100’s of million in cash burn from producing results, good or bad.

    So the company is currently trading at more than double the cash on hand with an enormous cash burn, years from any value producing catalysts, and dilution of shareholder value as their only means of paying for everything. Where is there any value in that whatsoever? Why would anyone say there is value in a company that has obliterated their shareholders from day one? A company who constantly promises results but delivers only dilution. A company who pays its executives some of the highest salaries in the business for producing some of the worst results possible. A company who traded at the level of cash on hand a year ago even though they claimed that the NDA for AZ-130 was weeks from happening and that the trial for Cancer Cachexia would produce results within months, and that cash burn had been streamlined with reductions across the board, and that they saw enormous potential in Peri-faux-zine in the soon to be released results of the MM trial. All with cash levels far above their current level. The company had far more going for it a year ago and yet was trading at the level of cash but people here would like others to believe that there is increased value here now? In spite of the fact that they have less cash, increased cash burn, still waiting on filing a simple NDA after another year has come and gone, a year or more away from CC results a year after they alluded to having results, totally scrapped Peri-faux-zine, a proven track record of being unable to get anything done, along with a proven track record of decimating shareholder value whenever given the opportunity to massively dilute their value with toxic financing. Where is the value in that???

    This company has nothing to offer investors but trouble, dilution, delays, and loss on investment, and yet the same monkeys who were trying to convince everyone to buy at $2 a share and 3$ a share before that are now saying that this company is severely undervalued without one simple accurate sentence as to why. WHY??? This company preys on investors at the same time short term traders preys on anyone who will listen while they both talk out the back of their heads. Everything about this company is seedy and subversive, which is why you will never see Turpin, the company CFO from the time they traded at over $70 per share, buy one single share of this stock with his own money as he drops millions of new shares into the market every year. Gee I wonder why? Doesn’t he see the same value as the pumpers on this board? How many more times do shareholders get to hear Dodd announce that the NDA for AZ-130 is right around the corner, That Ergomed has committed to providing up to 10 million dollars towards the AZ-108 trial even though to date they have provided zip, that everyone at AEZS is working hard even though they never seem able to achieve anything. How many more times will shareholders get to hear Dodd talk about all of the value locked up in a company that only seems to know how to spend shareholders money rather than accomplish what they say they will. So much value in Dodd’s mind that he isn’t buying one share of what he’s selling? How many more times do shareholders get to hear Dodd tell them that he is all about increasing shareholder value as their value continues to diminish? How could anyone support these sort of people? Why would anyone want too? Unless they were just like them. Like minds attract one another?

    Seems to me that the pumpers on this board like to fly the same way as the management of this company. And who have any of them ever helped other than themselves? The company helping themselves first and the short term traders feasting on the leftover table scraps. Sure there’s value here at $1.55 a share and waiting for the next dilutive shoe to fall. When that happens they will claim there is even greater value. Just like countless times before. Look at a long term chart through a period when they had far more potential than they do right now. Then ask yourself what is likely to happen next. The last highly dilutive PIPE happened when cash levels were above 25 Million dollars. They have considerably less than that now, and after all of that money spent what have they achieved? Fly little Dodd, fly. Fly your shareholders into the ground. Can’t wait to hear him talk about all that he thinks he accomplished to achieve a fresh new historic low this last quarter.

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AEZS
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