Was posted late on Friday before midnight . Again management should have provided all of this information well beforehand not at the last minute , 2 days before the weekend before voting closes.On page 35 the compensation package is described . Management not only new hires gets 15% of the the outstanding float . Thats almost 39 million shares to the management ! A little excessive you think ?On top of that the company spent over $305 k in the past six months alone on investors relations .
Funny the company does such a poor job in IR , where is all that money going ? Ray Matthews.
Company spends almost $2.5 million on wages etc for first 6 months which will double with all the new higher.
No progress on Hemophilia for years. Staring a clinical trial in thyroid with no details. Nothing to update on immune coating for over a year which makes me wonder if there is an issue ? Mentions gene editing with Unicycte over immune coating which is a huge red flag . Uncicyte will take years to develop and longtime for Fda approval. So unless company shows any progress in immune coating within next 3 months, immunosuppresion angle which is a key component for the success of the pouch, could be a huge setback for the comapany . Again Toleikis will be vague at AGM , will not answer what's really going on with immune coating to which the company owns outright .
Last thing the comapny talks about a collaboration with a pharma company that used the pouch on large animals and was successful ...but no mention of any detail and why that relationship ended with the pharmaceutical company ?
"In addition, a collaboration with an international pharmaceutical company to study Sernova’s Cell Pouch in a large animal diabetes model has been successfully conducted. The collaboration involved the study of safety, survival, and efficacy of locally immune protected therapeutic islets in our Cell Pouch in a proof-of-concept study."
Nothing new on Witowski trial , no insulin independence in 2nd or 3 rd patient . Enrolment not completed. We don't know if insulin independence only happens with a portal vein top off and if this is only way pouch can achieve insulin independence.
But compensation package is bloated 39 million additional shares . IR is expensive with nothing to show for ...Dominic not even there any more.
Ms Sally