Could be as simple as the reference I found in a KU Medical Center guide to Clinical Registration guide and how to fill it out. IF you have all your participants, " You're active, just not recruiting anyone ". You're reached full participation , now you just follow them and get the results. Find it at kumc(dot)edu/Documents/ri/cra/CT.gov%20Info%20Sheet_CURRENT%202015(dot)pdf . Top of page 4
Pretty sure it won't be hostile. I think Adage and others, including DOC take it private at over $24 for a few years. Once FDA approvals come in they go public again or sell directly for the price DOC thinks they can get to BP and they keep it all.
I agree with you, but I think it's a time honored tradition to have some brokers accumulate shares for you then you purchase the block they're holding. Due that with a few brokers you've got 500k-1 million shares. Due that with 3 other hedge funds and you may have another block of 2 to 4 million shares. IF, and that's a big IF, we should see these big blocks going over the tape at the end of the day for possibly 2 or 3 days. I believe you have 5 to 10 days to make this info public. Obviously anyone feel free to correct me if I'm wrong.
I actually think that Adage and the other hedge funds are going to take ADXS private. As I see it , ADXS is taken out at $24 as all the employee stock options vest there in the new plan, so all of management will receive all their incentive shares early and be happy. With hedge funds, mutual funds and ETF's holding around 80% of the shares the Adage group is buying most of the remaining shares at a 50% off sale. You go private for two years until the results of all these trials are in and then you either reemerge as a "new" company with a super high IPO valuing the company at 5 to 10 times the price or sell yourself directly to a BP. I think that DOC is implicitly already on board with this. JMO