Just heard call recordingmy friend sent
Observations:
-management disconnect between what market wants (clarity on IND application, clinical trials and licensing) and what was presented (50 minutes of technical data over the heads of everyone)
-the Q&A showed what people wanted, questions were on licensing and IND
-on licensing Bob said that they wouldn't license here as too low value (presumably due to low market cap/share price) and would wait to Phase II
-on this it seems that is a waste
-the drug works on multiple cancers, we heard of bladder cancer yesterday
-if they license it is just one cancer, and once cancer line out of say 13 at a low valuation is good business if it means the difference between 100 million shares at Phase II and 250 million. The latter is where we may be headed
-the IND app at late 2011 means maybe clinical trials early 2012
-as one caller said, the date keeps getting pushed back, and the caller said she was told for years they had a team in place but Bob said they didnt and the team just started (Sokoll started Sept 1)
-among other things this is a major credibility issue
-the real stake through the heart of the whole call came at the end, after Sokoll has said how deeply committed he is to the company
-this is critical if he is the guy to push licensing and IND forward
-he was asked if he owns shares and Bob said Sokoll was issued options
-Sokoll does not own any GAP shares
And with that nugget of info the person who sent me the recording of the call said "we can with confidence begin writing the obituary on this company"
What do you all think?