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Like it or not management change will take place next week. The board is culpable for the appalling loss of value over the last 5 months but finally I hope the board will act responsibly and ensure a smooth transition. Sadly over the last few years for most of the long term shareholders it has become increasingly obvious despite the science that a lack of commercial leadership would be our Achilles heel. Possibly more by luck than judgement we have arrived at the 2W phase of the trial with our assets intact and despite the recent unacceptable dilution this may yet prove to be the most value enhancing strategy. Only time will tell. Whatever happens I’ll leave to my crystal ball however for sure a new chapter for Avacta starts next week.
Soleboy explain how the board is culpable ???
SoleBoy and WeAreGroot - very interesting posts. I do feel changes are needed and the totally incompetent RNS on Friday was a blunder of monumental proportions. Most of us would have triple checked that before releasing.
The share price seems to have turned a corner and a possible avalanche of news next week could propel us rapidly upwards. Fingers crossed!
My personal belief is that a considerable number of ‘commercial’ errors of judgement have been made over the last few years. The board and particularly the chairman have a duty of care to ensure on our behalf that the company is well run. If mistakes are made by the ceo then the board shares the responsibility. It has always been a major red flag tome that the board members have never seen fit to support the company with reasonable share purchases. If they do not believe in the company why should investors new and old?
Management change haha please. You need to look at the bigger picture. Loads of companies have failed to raise money in this challenging environment, one pharmaceutical company even decided to go else where. Deals now while preferable to shore up short term share price volatility only matter to the traders. LTH’s know deals done with more data available will be more lucrative. Don’t think there will be any changes tbh. It’s a storm in a social media tea cup. The vast majority of big holders over 200k plus shares will be looking at the longterm picture and will vote accordingly imo.
What make you sure that there will be no management changes Ice ?
Read the risk factors in last year’s results RNS losing key personnel is one of the top risks. I would say the management team are key personnel, plus we are in the middle of the end game now and I think the institutional investors were delighted to pick up shares so they won’t want additional risk either.
Don’t necessarily need to lose someone like AS but maybe a restructure is what’s called for. There’s no denying he’s made some very dubious calls as CEO but a a scientist he’s hard to fault.
A think a new, experienced CEO is essential.
Why would you change when the clinical progress is so exceptional. Let it see how it plays out first. If successful then the share price will follow. New management team not going to change the fact we had a shock placing and that’s what the people on social media are actually p155ed of about. We will see at the AGM though. 👍
Yes one of the more dubious calls being spending more money on acquisitions to add to the diagnostic side when the clear value driver seemed to already be proven through AVA6000!
another perhaps more serious risk factor is running out of money which if deadlines are continually unmet will happen.
the rns figure **** up was unforgivable! if they can’t get that right can you imagine waiting for a dose of ava6000 and thinking i hope they get the measurement right! frighteningly true.
Thankfully it’s clinicians that administer AvA6000 not CFOs
We are fully funded you muppet.
What forever? You muppet
As long as the results continue to be exceptional we won’t have any issues with future funding. Sheppy go back to your yacht and fantasy lifestyle, or get that premium sorted. 👋😉
The results have been exceptional throughout the trial but that still hasn’t stopped the decimation of the SP - who needs to shoulder the blame for that ? You can’t ignore the fact that major errors in judgment have been made and that can’t be ignored.
Have you forgotten “funding - you don’t need to worry about that” - a statement that has proved to be very foolish indeed.
Well we don’t??? We are fully funded for the next 2 years.
Are you for real or are those rose tinted glasses welded to your face ? I suppose you’d be happy if he made that statement again then did a raise at 25p.
Haha rose tinted glasses you require spec savers you are so short sighted it is unbelievable. At the end of the day all that matters is funding and FDA approval. The science strongly suggests we will get FDA approval. On FDA approval even if we did another 50% Dilution the company would still be valued in the Billions based on validation of drug and platform. Approved Oncology drugs are worth some serious cash who would have thought. Not rose tinted glasses just good old logical conclusions if the trial is successful which the data suggests it will be.
It is of course all personal opinion which makes a chat board worthwhile. Firstly next week is not an AGM that’s in Summer. Secondly I am a percentage holder, least I was 😂 so after 14 years am very much looking at the bigger picture. I believe Alastair to be a man of genuine integrity and can only praise the tech he has acquired for Avacta. But and it is a very large BUT commercialism has not followed on any front. We were promised commercial turning points in 2015 / 2016/ 2017 with various diagnostics, then Affimers, then TMAC, then Covid LFD now pre|CISION. I think in deference to Alastair and his character long term shareholders have given him every latitude. The last few months have, as they say, been just been the final straw that broke the camels back.
As to senior staff rotation / loss. It is often not a good thing but if you think about it that’s exactly what we’ve had under Alastair’s tenure. The CFO is one of the only one’s to survive and I certainly have a view on that.
Discussion boards are for discussion and exchange of knowledge. I hope this thread promotes discussion of different points of view. Sensible views are all valid.
You keep happy clapping Ice. I’m happy with my investment here and have doubled my position in the last few weeks. It’ll undoubtedly come good but there need to be accountability for recent mistakes.
Who says they are mistakes, short term share price fluctuations has no impact on the company being successful and making good longterm strategic decisions for the overall benefit of the investors. We will ultimately see how this plays out I will be here not sure you will be. 😉😝
I will definitely still be here. I make medium / long term investments so no interest in exiting before commercialisation or buy out.
Great post Soleboy
Start of Pre/Cision trial
Smith, Bell ,McClaughlin.
Didn’t see any mistakes through trial everything went well,but it’s now
Smith, Coughlin,Bennett
All this change at the top will affect SP and damage the company?
SP held up when Bell ,McClaughlin were dropped in one liners in RNS’s
Only damage has been car crash placing last few months.
Out the 5 of them only Smith keeps over promising.
Gardiner sitting in the background giving himself shares.
Let’s see what happens next week.
I’m hoping side ways move for Smith and Gardiner moved to Man City accounting team were he would fit in.