Jan. 6 at 9:36 PM
$TIL The announcement that they're discontinuing clinical development of their lead drug, AXN-2510, and terminating the licensing/collaboration agreement with ImmuneOnco for AXN-2510 and AXN-27M makes the future of this bio very unclear. There's no longer a defined pipeline, and it's already been downgraded to
$7. In my opinion, the value is even lower if management doesn't provide a clear vision of the future and what they'll be working on. It's a serious mistake to think of a net worth of
$120 million or
$83 million in cash equivalents, of which only
$5 million is liquid. Remember, the stock market is never measured by cash or liquidity, but the potential of a company today without their lead product would be interesting to understand where to invest and when they'll be able to generate profits.
