RE:RE:RE:RE:A Little STFU Story I certainly hate seeing the Bioasis management and BoD being publicly given permission to take the easy way out. They now have 13¢ options, a far cry from the $2 shares bought by many shareholders. The option holders don't need much to walk away with a lot of money. How much incentive do they have to go the extra mile, to make the extra effort?
I continue to hear from shareholders that Bioasis is still claiming they will effect a NASDAQ listing this year. I can't quite imagine the eager participation of an investment bank in this effort unless they and Bioasis have good cause to be optimistic about success. So is there a storyboard that could support the listing and move Bioasis to new levels, despite a rollback? Confidence in Bioasis should be needed because failure would not look good for the players, including Ladenburg Thalmann, if they're still on board.
It's possible that a strong storyboard could be underpinned by an immediate move of xB3-001 to a Phase 1b/2 clinical trial. This could be done by an xB3-001 partner or buyer with endless resources to do so on an expedited basis. A whiff of that possibility is definitely in the air.
Storyboard possibilities might include any or all of the following:
- The fate of xB3-001 is revealed, with immediate move to the clinic.
- xB3-002 (glioblastoma) could surface again.
- xB3-004 (IL-1Ra) and xB3-progranulin could find a home (Chiesi/Protalix, possibly?)
- One or more LSD IND submissions announced.
- A partner (Oxyrane, Aposense, Neuramedy, Janssen, Daiichi Sankyo, and/or others) may announce success and the resulting expansion of their relationships with Bioasis.
For me, the "train" analogy breaks down with the question about first class vs no class. There ought to be a pretty good answer to the confidence question in the minds of the Bioasis players. That confidence, if it exists, should be more effectively communicated to shareholders before the information circular comes out.
Come on, Bioasis, tighten up the story. News would be great, but a simple expression of confidence, something that doesn't reveal secrets nor too severely tests the bounds of safe harbour guidelines, could go a long way in confident shareholder support for the upcoming AGM agenda.
jd