..this is a success or failure story..black or white...either the product takes off and generates substantive revenue ex-USA without FDA approval (signs in EU so far are not promising) or we get FDA approval and we are off to the races... management are in charge of making both of those things happen and indeed, know what the real lieliehood of each is (I stress "real"..think of the FDA panel debacle)...we as investors are putting our money down in the faith that either of these outcomes occurs....absent these, we are ch 7 . So I ask again..why do management expect us to comit to that risk when they clearly do not believe either outcome is possible..otherwise they would be buying hand over fist with their own money...and i would suggest that with the whole board buying in the open market, the fresh capital, plus obvious show of faith it signifies would have lifted us above $1 and avoided the R/S. Without pending news (and if there is anything market moving on the horizon then why R/S in the first place) a R/S will just be a shorters paradise again as they short it back under $1...seen it before..... its looking like management are acting for the shorts. Buy your own stock in the open market !
Why don't you show faith in your company by buying your own stock ? So far you are following in Hobbs footsteps ... No communication, no skin in the game with your own money, awarding cash bonuses (tied only to the company still being in existence.. Big deal), etc . What's next? Negotiating YOUR golden parachutes... Hobbs is chilling the cocktails waiting for your arrival on the Carribean retreat as we speak. .
then if that is the case..and i hope it is.. and they really believed it was a possibility then either buy your company's stock now at these depressed levels or accept incentivisation only via stock...and fire the cronies who apologised for Hobbs....no they are showing by their actions that they have no faith in the company...in my books that is not leadership.
Nothing has stopped them...all they have done ( and this is fact) is awarded themselves a 50% cash (repeat CASH) bonus ( of their salary) if they are still employed by the company in March 2015... so as long as the company doesny go bust they get a big cash payout...doesnt matter if delisting occurs and we are at $.01 on the OTC, doesnt matter if FDA approval was just a forlorn memory, doesnt matter if there is no EU revenue...just as long as there is enough money in the pot to pay their salary and the new bonus...its disgraceful. They learnt their methods from Hobbs the master. There is no accountability in this company any more...I knew that when they continued with the services of the same PR/IR who had been the chief apoloist for Hobbs. Shame on them all.
i dont see anything to laugh about... the UK NHS is limping along with cuts occurring like you would not believe (think A& E wards almost at collapse)...there is zero appetite here in the UK for authorising reimbursements for expensive new procedures (which are deemed dangerous in the US)...to suggest this is the main thrust of a business plan is IMO delusional ... and put forward by the very same spin doctor who propogated the rubbish (? lies?)which was spouted before the 16/0 odac fiasco. If you reread the cc transcript the FDA process seems to be playing second fiddle to UK and German reimbursment plans,,,do they really think they can go it alone if the FDA slam the door?
All this talk of EU revenue is still a legacy of the Hobbs nonsense .. (And I as a UK resident, find it disturbing that the new management are still beating on that drum)... We have to face facts that Delcath is dead without FDA approval .. Actual EU meaningful revenue will not occur without it, Asian partnership will not occur without it, buyout will not occur without it.... We have to ask firstly do we have a cat in bells chance given the 16:0 ODAC fiasco ( ie do the powers behind the scenes want Chemosat to see light of day or are they rooting for their BP alternatives in development for ( mainly and most importantly) primary liver cancer... And if so do we have the cash and the right management to achieve this . Yesterday's cc did not convince me
Form 8k just out...Jennifer Simpson and Graham Miao the new bosses awarding themselves $6k /month salary increases ..unbelievable! they should be taking hefty..and i mean hefty...reductions in salary and ONLY be incentivised with stock rewards tied to actual achievment. Its an insult to shareholders.
Will tonight and then next week finally see the link broken between Gluu and Zynga .. We have been shackled to Zynga's failure for far too long now. Hoping for poor results from Zynga and a knee jerk downwind on us .. A free gift to load up the truck ahead of next weeks raised guidance and upgrades.
They had no choice but to do this... There is no buyer for the company and no bod would ever sell at this juncture ( tantamount to a ch 7) ... The only hope is eventual FDA approval which will necessitate the Gen 2 trials ... Management has cut the cash burn and have now raised what I imagine they calculate will be sufficient to get us through to trial conclusion . There was no point waiting ... As the company bleeds cash ( no revenues anticipated) the pps will slowly fall .. Plus the risk of delisting.. Meant they had to finance now. I do not think it certain now that they will protect Nasdaq listing .. Makes no real difference ..FDA approval is all that matters and THEN takeover will be a real prospect .. OTC or Nasdaq makes no difference . What would have been nice would have been more communication and leadership .. This is what is lacking
GSK are all over the news with their malaria vaccine .. In conjunction with the Gates Foundation... Has this undermined NVAX's nascent credibility as the new boy on the block ?
so whats the verdict...general housecleaning and getting rid of the dead wood from the old regime...OR...cleaing the decks for a takeover?
remember that the warrant deal is in tranches...vesting dependent on Glu launching various MGM themed games...IMO these games will be massive in their own right (007 for heavens sake!).. and that $3 level will be a distant memory by then... MGM knew this when they signed up...and Hany Nada knew it when he bought in at $3 before the deal was hatched.
the mindless pumping here is getting ridiculous..I have been in and out of DCTH for over 4 years..and I am currently long and well underwater.....what has been announced today is just essential and it is is good it has happened so soon. Hobbs was a disgrace..he set up a corporate and expense structure that assumed FDA approval was in the bag..when he must have known it was not (subject to lawsuits..and he never put his own money to work in the company). The management HAVE to cut to the bone NOW to have any chance of survival...EU revenue we know is going to be slow..without FDA approval there is no sudden boost to income , no major pop in pps to allow equit refinancing and unlikely possibilty of a partnership. ..so the right thing to do is to dismantle Hobbs egocentric empire..no corporate jets, no extensive manufacturing facilities for something which is yet to have industrial scale demand...they need to conserve every cent to stand a chance to have the $ needed to do the additional trial needed fro a new shot at FDA approval. It is the right step to have taken.
Ok Hobbs has gone .. Thank heavens . The management don't have to " get their feet under the desk".. They've been there long enough to hit the deck running so what's the delay. .. Investors have to know how they are going to tackle the pressing problems. ... Funding to do the trials necessary for
FDA approval .. Delisting ... Speeding up revenue flow from EU .etc