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Sernova Corp T.SVA

Alternate Symbol(s):  SEOVF

Sernova Corp. is a Canada-based clinical-stage biotechnology company, which is developing therapeutic cell technologies for chronic diseases, including insulin-dependent diabetes, thyroid disease, and blood disorders that include hemophilia A. The Company is focused on developing a functional cure for insulin-dependent diabetes with its therapeutic cell technology lead asset, the Cell Pouch System, a novel implantable and scalable medical device with immune protected therapeutic cells. The Cell Pouch is a scalable, implantable medical device. The Cell Pouch is designed to create a vascularized organ-like environment for the transplantation and engraftment of therapeutic cells. Its regenerative medicine therapeutic approach is to provide cell therapies where the cells, transplanted within an organ-like vascularized implantable device, the Cell Pouch, generates proteins, hormones or factors released into the bloodstream for treatment of diseases.


TSX:SVA - Post by User

Post by Sailboatdreamon Mar 29, 2022 8:04pm
221 Views
Post# 34557304

AGM = April 28. Now is the time to hold mgmt accountable

AGM = April 28. Now is the time to hold mgmt accountableApril 28 will be too late.  Think of the hard questions we need to ask ourselves now:

-  why no uplist to TSX? Was suppose to be in Sept (let alone NASDAQ which was suppose to be this year)

-  where are we on any kind of deal?  Several kinds of deals have been alluded to since last Aug:  med tech deal, then a license deal, then possible a buy-out

-  do we give this BoD and management team another year?  what will change?  I'm not doubting the efforts and good will.  But the results are just not there.  They are working hard.  But not working smart.  And there doesn't seem to be a strategy.  They seem to be reactive to opportunities as they present themselves.  Which is why they are all over the place and getting nowhere

-  I do not believe the excuses related to NDAs.  Yes, they have signed NDAs.  But no NDA is so watertight that management cannot give tangible updates without getting into trouble.  And no NDA can be applicable to 3rd party entities.  For example, giving us the number of pharmas Sernova is talking to does not contrevene an NDA.  No one is asking for names at this point.  If the NDAs do impose these constraints, they should not have been signed in the first place.  I also think that if one or more of these big pharmas are not constructive or producing the testing results we are looking for, perfectly ok to cut the ties, issue a press release and make the others realize that they need to continue to step up

-   I'm pretty much out of patience.  And out of confidence with the management team.  Haven't looked at the SEDAR docs yet, but I hope this AGM is in person.  Too easy to manipulate online meeting and use technical malfunction as an excuse as they did last June.

-   Hoping that we will at least be able to vote in one new BoD member (independent) and propose a couple of resolutions

-  Best case... we get bought out.  Short term gain in the share price.  Solves the management issue.  And for those who want to stick around for the long term, they can buy shares of the purchaser pharma

Thanks for reading my venting this evening!  : )
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