Based on what we have seen over the last 10 years there is likely no ace up someone's sleeve. More likely that Boyle is just delaying everything as long as he can so he continues to get paid and when the BK hits he gets his additional $2M payment.
Hopefully that doesn't happen.
But the silence is pathetic. It has been 6 weeks since the announcement. The stock fell from $.50 to $.39 in the month prior to the announcement and $.12-$.14 depending on the day now. I am assuming someone knew this was coming and was selling shares the month prior to the announcement no deal was in the works.
Of course most investors were in the dark. But this company went from having a high of $4 on 9/5/22 to $.13 one year later. A year ago the first patient results were announced and positive. The company had an ATM in place and never chose to raise funds in the $2 - $4 range while they had a chance.
It is totally amazing how a company shows that much promise in patient one. Then the next 2 patients have results that don't look as promising. 2nd did have a response and the 3rd did not have a good response.
They treated 5 more in 2023 and to date investors have not been supplied with with efficacy and safety data. That alone is criminal IMO. We still don't know if the company has any value based on the results or if their only path forward is to maximize the value of hunTR.
The company has the efficacy data on all 5 patients. They should tomorrow release that to investors. It could be done in an 8K rather than a press release. But how can I determine if buyers are looking only at the value of hunTR or if there is potential in using seeping beauty to deliver TCR-T treatments to patients.
The company sent me an email that said the trial was stopped purely due to financial issues. If true and the results from the additional 5 patients showed some promise the company is worth a lot more than hunTR alone.
So yes I am pissed about how we have all been treated for years but I am really pissed about how they are treating us now. My guess is Boyle is hiding and afraid to take questions on the future. He, Cooper, Kirk and the others should all be put in jail for what they have done through the years. What a huge waste of time and money.
Sad to see so much promise that was never delivered. Personally I think Cooper and Kirk are 95% to blame. Kirk just used ZIOP to enrich XON and steal the intellectual property. Cooper came in and got paid and never moved anything forward and wasted hundreds of millions. He gave a great speech but nothing he discussed ever entered a trial under his watch. He was terrible. Both should be force to pay shareholders huge sums of money. Notice that PGEN has products that are succeeding. This is because their scientists learned from ZIOP and did not share the information with our team. They had their first trial submitted to the FDA less than a month after the split. Yet prior to the split the combination could not manufacture and run a trial. Something really fishy about that.
Boyle came in and did what was needed to extend the window to get data. But, he and the team did a bad job of adjusting the trial to ensure they found the best candidates. Patient 1 was either a great selection or lucky choice. But we have no idea to this day how the last 5 patients fared. I am mad at him for financial decisions. He should have raised funds earlier and definitely should have used the ATM to raise an additional $50M last summer. I said it a million times. Good CEO/CFOs don't allow their company to get under 1 year of cash. His biggest mistake IMO is allowing the company to get to less than 3 months of cash. Negotiating from weakness is never good.
Now the COB resigns. No idea if this is because he wants to buy the company or he is just leaving because he doesn't want to be associated with Alaunos.
I guess I am a conspiracy theorist on this. I think it is very possible Boyle, Huang and others are working together to take the company private and get the company for a minimal amount. If something like this wasn't happening Boyle should have been fired the minute he issued that PR. If Huang comes in an buys the company for $.25-$.50 a share and the trial is restarted and succeeds I will be visiting a lawyer. I think the mismanagement of ZIOP/TCRT has been terrible. Ending like this is even worse. If they had any deal on the table and rejected it to just allow the company to go BK management should be put in jail. Management is never held responsible for their actions. They should be.