Post by
Speyeder999 on Nov 27, 2021 10:31am
Consolidation & Acumen Phamaceuticals
I'm no expert in the stock market field, but it does seem that someone is yanking our chain.
I think the whole ''consolidation'' saga was inevitable, even when they were at 275M shares and no cash, you somehow knew a rollback was coming, but I never expected to see a 60:1 rollback and the way the price is tanking, that's exactly where we're heading and where the company wants it to go, they must have their reasons.
Again, i'm no expert, but hiring two proxy firms to sway shareholders to accept a rollback sends what message exactly to shareholders and the investment world just before the rollback? I think part of our answer was displayed in the stock's performance since the announcement and I do say in part, cause the market did take a beating as of late.
LIke them or not, Gene and Elliot are seasoned veterans in the Pharma world and finance, and wIth the Boston Group now holding the reins, these guys know EXACTLY what their doing and we are just spectators along for the ride. I suppose if we don't like it, we have to get off.
But getting back to the roll back, what exactly do we expect after a share consloidation and clinical trials to begin most likely in by mid 2023?
Well, I took a look at Aumen Pharma's performance lately because it is in direct competition with Promis with it's monoclonal antibody that selectively targets toxic amyloid-beta oligomers. Just a quick recap, Acumen went public last July at 20$/share, raised well over has roughly 40M shares oustanding. So how is the stock performing? Badly, It down to 8$/share and the only thing that happened since July was that they announced the begining of their clinical trial begining of October for their one and only product ACU193.and the stock ytanked further.
I supposed the fact that the $600M of cash that dwindled down to $160M (from their 3rd quarter financials) has a lot to do with it, so serioulsy what can shareholders expect in the meantime?
All this to say, Promis will most probably go through the same obstacle course (prior and during clinicals) but I'm hoping that having a bigger portfollio of products will enable them to garner more interest than Acumen over the long haul.
Final thought on Elliot: Anyone wonder why he is still sticking around at 71 years of age besides the 0,5M/salary? (and I do say besides, because seriously, do you really think this guy needs this salary to live on?).
I'm guessing that Elliot is seeing to it that he gets 1$/share minimum for his 8M shares before he packs it in, but that's just my opinion.
So to answer someones question as to what my timeline is......I'm out when Elliot gets out!
GLTA
Comment by
DavidKingCanada on Nov 27, 2021 10:46am
Great post! My exit strategy will be once they are approved for a Nasdaq Listing the SP will rise and this will be the time to Exit because if there is no News the SP will drop. I feel much better that the Boston Groul is steering the Ship.
Comment by
M101 on Nov 27, 2021 11:14am
Great post, especially the Elliot part. I was never impressed with Acumen so this is no surprise. To be impressed with their science you'd have to think there was something wrong with the Promis hypotheses about misfolding as a key step leading to the toxic ABOs. Ditto Aducanumab.
Comment by
Mole101 on Nov 27, 2021 2:25pm
I just realized that Net profit/ loss it the same 722,000 ;) [/quote]
Comment by
retiredcop on Nov 28, 2021 12:34pm
Pmn was too busy telling Investors they had some sort of JV with BCNI. What happened to that? Covid is still here but does PMN have any chance of creating Revenue with their Serology Can't spell it out any differently....BCNI has not been able to obtain approval from HC or FDA yet.
Comment by
JackRedwood on Nov 28, 2021 12:40pm
Thanks Retiredcop, that's what I thought. Patience is definitely a virtue!
Comment by
Speyeder999 on Nov 28, 2021 4:04pm
Submitting it for evaluation might be a good start https://www.canada.ca/en/health-canada/services/drugs-health-products/covid19-industry/medical-devices/testing/applications.html
Comment by
retiredcop on Nov 28, 2021 4:44pm
Chew on this for a while. What if HC does not want to approve the test right at this time for public use
Comment by
Speyeder999 on Nov 28, 2021 5:12pm
That's an interesting point. They did mention that the tests would be catered to institutions and government bodies only and not the general public, so they probably don't have to run the regular run of the mill approval protocol for making something available to the general public.
Comment by
JackRedwood on Nov 28, 2021 5:24pm
Please correct me if wrong, but PMN did mention that they were not going to sell to the general public but rather to Institutions and Governments.
Comment by
JackRedwood on Nov 28, 2021 7:00pm
Excellent post RC! Great history lesson for us newer Investors!
Comment by
Gbathat on Nov 28, 2021 10:05pm
Hopefully they are just getting more data to support their case for a unique and superior product prior tto applying for approval, all the while selling some product to the associated test programs.
Comment by
Speyeder999 on Nov 28, 2021 10:45pm
Thanks for the post RC. When you disect it like you've done, it makes total sense and it's highly plausible. In any case, it's a great conspiracy theory and the read was way more entertaining than anything I've watched on Netflix lately. Let's cross our fingers and hope something positive comes out of this shortly.