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Post by eitherhalf on Jul 6, 2022 22:36:08 GMT
Thanks,tmfbmf. Looks like a couple of others from this board will have calls as well this week including our resident siblings. I was in OCATA and am certainly having a bit of deja vue (sp?). I would certainly like a bit of consensus of those of those who receive calls feel and this is the perfect group setting. Please let us know and what way your leaning on the vote.
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Post by tmfbmf on Jul 7, 2022 0:03:54 GMT
Thanks,tmfbmf. Looks like a couple of others from this board will have calls as well this week including our resident siblings. I was in OCATA and am certainly having a bit of deja vue (sp?). I would certainly like a bit of consensus of those of those who receive calls feel and this is the perfect group setting. Please let us know and what way your leaning on the vote. If I thought a no vote (or not voting) could pressure him into selling the company, I'd consider it because that's my preference. But, after speaking with Dan, I don't think that's gonna happen. I think he's going after a JV, so why tie his hands? The company looks better with a normal amount of shares. I'm voting for the reverse split. One thing to remember is Dan worked for Big Pharma on the other side of these deals. He brought up a company Astellas had the chance to buy. (Not Ocata) They partnered with them instead, and the company later sold itself to a different BP company for a much higher price. I think it's rare to have a small biotech with a CEO who understands every partnership we sign doesn't have to be a grand slam. He understands how to create value and he can bring our value up incrementally. I'd also like to hear everyone else's opinion. How are you voting and why? AND, I ran out of time, so I didn't ask, "Does Horizon Therapeutics have any interest in stem cells?" There's no way he's going to answer that, but I'd like to know his reaction. If anyone gets a chance, please throw that curve ball! |
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Post by md2008 on Jul 7, 2022 1:27:21 GMT
I some on Reddit jck/kjr have one set up. I do as well. I’ll also report anything exciting. Imz, are you doing a call too?
The more educated questions from long term followers on the board the better. I sent a list of questions in but if anyone has anything else that doesn’t have a call set up they want me to ask let me know and I’ll add to list.
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Post by md2008 on Jul 7, 2022 1:29:27 GMT
Thanks,tmfbmf. Looks like a couple of others from this board will have calls as well this week including our resident siblings. I was in OCATA and am certainly having a bit of deja vue (sp?). I would certainly like a bit of consensus of those of those who receive calls feel and this is the perfect group setting. Please let us know and what way your leaning on the vote. If I thought a no vote (or not voting) could pressure him into selling the company, I'd consider it because that's my preference. But, after speaking with Dan, I don't think that's gonna happen. I think he's going after a JV, so why tie his hands? The company looks better with a normal amount of shares. I'm voting for the reverse split. One thing to remember is Dan worked for Big Pharma on the other side of these deals. He brought up a company Astellas had the chance to buy. (Not Ocata) They partnered with them instead, and the company later sold itself to a different BP company for a much higher price. I think it's rare to have a small biotech with a CEO who understands every partnership we sign doesn't have to be a grand slam. He understands how to create value and he can bring our value up incrementally. I'd also like to hear everyone else's opinion. How are you voting and why? AND, I ran out of time, so I didn't ask, "Does Horizon Therapeutics have any interest in stem cells?" There's no way he's going to answer that, but I'd like to know his reaction. If anyone gets a chance, please throw that curve ball! I am planning on voting for r/s regardless of how call goes. I don’t think we have a great option to sell right now anyway. |
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Post by imz72 on Jul 7, 2022 9:49:03 GMT
I some on Reddit jck/kjr have one set up. I do as well. I’ll also report anything exciting. Imz, are you doing a call too? I haven't been contacted, probably because I never emailed IR so they do not have my email address. I won't ask to have a call with Dan as I'm not an English speaker by birth and my conversational skills are not good enough for that. I'll vote against proposal 4, because keeping the authorized shares at 30 to 60 times the outstanding is totally unreasonable IMO. The practical meaning of it is giving the company the ability to issue shares without any limit. They will be are "authorized" to do whatever they want. In any case, rejection of the r/s shouldn't put the company in immediate crisis, as they can request an extension from Nasdaq and currently they have more than 300 million issuable shares. |
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Post by md2008 on Jul 7, 2022 11:13:17 GMT
I some on Reddit jck/kjr have one set up. I do as well. I’ll also report anything exciting. Imz, are you doing a call too? I haven't been contacted, probably because I never emailed IR so they do not have my email address. I won't ask to have a call with Dan as I'm not an English speaker by birth and my conversational skills are not good enough for that. I'll vote against proposal 4, because keeping the authorized shares at 30 to 60 times the outstanding is totally unreasonable IMO. The practical meaning of it is giving the company the ability to issue shares without any limit. They will be are "authorized" to do whatever they want. In any case, rejection of the r/s shouldn't put the company in immediate crisis, as they can request an extension from Nasdaq and currently they have more than 300 million issuable shares. I wonder if the updated proxy materials will reduce authorized share with r/s too. It seems the immediate pushback may cause some change there? It is odd I still haven’t received the updated proxy, has anyone else? |
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Post by imz72 on Jul 7, 2022 11:55:31 GMT
From what I have seen no one received the proxy materials yet, but can see the filings here: www.athersys.com/investors/financial-information/sec-filings/default.aspxThe revised proxy statement was filed on 7.1.22 and the company said that the materials will be mailed out to stockholders on or about 7.5.22. From page 40 of the proxy: "The total number of authorized shares of Common Stock, however, would remain unchanged at its current total of 600,000,000." At the top of page 44: "Because the Company will not reduce the number of authorized shares of Common Stock, the overall effect of the Reverse Stock Split will be an increase in authorized but unissued shares of Common Stock. These authorized shares of Common Stock may be issued at the Board’s discretion, subject to applicable limitations. Any future issuances of shares of Common Stock will have the effect of diluting the percentage of stock ownership and voting rights of the present holders of Common Stock." |
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Post by tmfbmf on Jul 7, 2022 12:17:15 GMT
Dan is considering lowering the 600M shares. Now is the time tell them your concerns. If he hears this from enough people I think he'll change it.
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Post by klrjaa on Jul 7, 2022 12:52:25 GMT
Dan is considering lowering the 600M shares. Now is the time tell them your concerns. If he hears this from enough people I think he'll change it. I'll mention it tomorrow, thanks |
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Post by md2008 on Jul 7, 2022 21:38:33 GMT
From what I have seen no one received the proxy materials yet, but can see the filings here: www.athersys.com/investors/financial-information/sec-filings/default.aspxThe revised proxy statement was filed on 7.1.22 and the company said that the materials will be mailed out to stockholders on or about 7.5.22. From page 40 of the proxy: "The total number of authorized shares of Common Stock, however, would remain unchanged at its current total of 600,000,000." At the top of page 44: "Because the Company will not reduce the number of authorized shares of Common Stock, the overall effect of the Reverse Stock Split will be an increase in authorized but unissued shares of Common Stock. These authorized shares of Common Stock may be issued at the Board’s discretion, subject to applicable limitations. Any future issuances of shares of Common Stock will have the effect of diluting the percentage of stock ownership and voting rights of the present holders of Common Stock." Thanks imz. I will not be voting for r/s unless authorized shares goes down pro-data as well |
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Post by eitherhalf on Jul 8, 2022 0:10:36 GMT
By the way, Klrjaa, thanks for the reverse upvote on reddit. That was me....lol
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Post by md2008 on Jul 8, 2022 0:42:19 GMT
By the way, Klrjaa, thanks for the reverse upvote on reddit. That was me....lol I’m on Reddit as well but I feel it it harder and harder navigating through the discourse. I much prefer this forum and would love if we were all more active here as I learned so much from the many members here over the years on the ac/tc saga and then now athx |
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Post by klrjaa on Jul 8, 2022 8:45:24 GMT
By the way, Klrjaa, thanks for the reverse upvote on reddit. That was me....lol I’m on Reddit as well but I feel it it harder and harder navigating through the discourse. I much prefer this forum and would love if we were all more active here as I learned so much from the many members here over the years on the ac/tc saga and then now athx Yes I agree reddit is a mess. Only a handful of good posters, everything else devolves into the same tired crap. I provided recommendations to the moderators on how to address it, but they didn't want to go there. I'd make it kinda invite only and ability to ban immediately and extensive time limit before a new member could post. I even offered to be a moderator. Is what it is, thanks |
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Post by jckrdu on Jul 8, 2022 18:22:18 GMT
Added back half my original position after this morning's KOL "sell the news effect". Still lots of risk here IMO with low cash position and potential reverse & discounted capital raise looming after annual meeting at end of July. I wanted to have a position in case Dan is able to secure a partnership and/or some type of "alternative" financing (possibly a private healthcare investor) between now and end of July. I'll re-asses on 7/28. Also, release of additional Treasure data over the next 6 weeks could be in the cards as Dan works to get the PPS higher before the annual meeting and a potential reverse. GL all. Added more shares today after talking with Dan last night. Still risks per my prior posts, but some overall positives disclosed. I'm not going to give a blow-by-blow summary of my call with Dan, but some highlights are below. (Note: Anyone can email Karen at IR and ask for a 1:1 with Dan. They did NOT reach out to me first.)Financial runway is a bit longer: In my prior posts (based on my assumption that minimal Aspire tapping was occurring) I figured they were going to have less than $5M cash by 7/31. Dan wouldn't give me an exact cash balance but said the cash balance at 7/31 will be better than my figures. Burn-rate Significantly Reduced - Dan is going to get the annual burn-rate down to $30M, or $7.5M per quarter. While they're not ALL the way there right now, they're close and will be at a $30M burn-rate shortly. As I result, I'm less inclined to de-risk at the end of July as previously mentioned. 600M Authorized Shares - After some discussion, it appears Dan is seriously considering adjusting/reducing the number of authorized shares that would be available if he pulls the trigger on a reverse split. IMO, this news could have a positive impact as many fled after reading how many shares would be authorized post-reverse. Additional News/Catalysts on the Horizon - Nearest items that could be disclosed in the weeks/months ahead are: 1) Helios path forward in Japan for ARDs & Stroke. Dan could not provide any guidance on the timeframe because they're dependent on the PMDA for meetings, etc, but said that they are all working together to ensure the PMDA has all the information needed to make what Dan called "the right decision", which is conditional approval. I personally have confidence that Multi-Stem will be conditionally approved in Japan, which is why I'm still here. 2) Sale/spin-off of Regenesys Team in Belgium - Not sure on timing or how this would work, but plans are in process to reduce the burn-rate and get some cash in return. 3) Financing - Right now as we sit at a $70M market cap, expectations are very low regarding the path forward for financing. The good news is that Dan only needs to raise $30M to fund the company for a year. He said they're working with a different investment firm, and that he's "exploring different options" but wouldn't elaborate. IMO, options on the table are likely looking for a private healthcare investor at an agreed upon pps, without doing a public offering. While we could take a short-term hit with a traditional discounted capital raise, the fact that we only need to raise about $30M is a risk mitigator for me. Once the financing is done, that overhang goes away and everyone will immediately start focusing on the path forward in Japan and a significant partnership for Athersys. Be nimble if you choose to trade around this financing event, as IMO at the end of the day it could very well be a catalyst... which is why its listed in this section.  Lastly, the fact that Aspire has been cancelled means less day-to-day selling pressure. With any luck, some positive PRs over the next several weeks & months (authorized shares being reduced as part of a revised proxy, perhaps Helios go-forward plans in Japan for stroke/ARDs, sale of Regenesys team in Belgium, etc) will help the pps recover off the low .20s floor. That's my bet for now. GL all. (Note and full disclosure: I will likely de-risk a bit if we see a significant pps recovery in the weeks/months ahead, as I'm overweight here now.) |
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Post by eitherhalf on Jul 8, 2022 18:34:52 GMT
Soooo... What say we on this forum about the vote? What's the consensus? Just a note, not asking for direction, simply temperature since we all made individual investment decisions here.
I am inclined to give Dan the latitude to move and navigate this disaster with a yes vote.
Edit: just saw your post jckrdu, after posting this and it make me feel a lot better with my decision!
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Post by jamesjohnson12 on Jul 8, 2022 19:49:28 GMT
Thank you guys for the reports! It seems like he has a plan and is intent upon executing.
One quick observation: Dan has options for 10mm shares at an exercise price of .86. So, he has 10mm reasons to not sell this thing on the cheap and to build fundamental, long term value. Many of the ATHX employees also have significant RSUs and options that are underwater until $1.50-$2.50. Suffice to say, I feel pretty good about buying at or under .25
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Post by md2008 on Jul 8, 2022 22:04:28 GMT
Had a call today as well. Overall, video conference affirmed to me he is a transparent, active leader who knows (has known) the position ATHX is in and what to do about it. His answers and dialogue were complete, upfront and much more comprehensive. I feel like in general, he has a plan that he is in mid-execution on but I echo JCK sentiments that he is re-thinking the AS shares number. My hope is that he is going to reduce that pro-rata, as that certainly seems like what everyone has been clamoring for and I didn't get the sense he thought we needed them anyway at this time.
Lots of good dialogue in general, and I ll say that I came away impressed enough with him as a leader to add to my position as well. I don't know for sure how financing/partnering will play out over the next few weeks, but there was zero concern on his part about a path, just what is the RIGHT path.
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Post by eitherhalf on Jul 9, 2022 13:18:26 GMT
OK fellow knowledgeable forum members. Here is the ticket to ride.
I am not as knowledgeable of some of the long time members here and have only been invested 2 years I wanted to get opinions on how each option was voted. I thought I would share and see what the sentiment was on the people/options I have no knowledge of. I believe in the science and I am voting for the split and obviously for Dan but more info on the other individuals/options would be much appreciated before I punch this ticket. This simply a copy/paste, no voting please but opinions appreciated If anyone feels this is inappropriate I will happily delete this post.
Make your selections below, using the options on the right side of the page.
Shares available:
35,298
Election of Director: Dan Camardo For
Election of Director: Ismail Kola
Election of Director: Kenneth Traub
Election of Director: Jane Wasman
Election of Director: Jack Wyszomierski
Ratification of the appointment of Ernst & Young LLP as independent auditors for the fiscal year ending December 31, 2022.
Approval of the amendment and restatement of the Athersys, Inc. 2019 Equity and Incentive Compensation Plan.
Approval of an amendment to the Certificate of Incorporation to effect a reverse stock split of the Company's Common Stock.
For
Approval, on an advisory basis, of named executive officer compensation.
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Post by jckrdu on Jul 9, 2022 18:06:38 GMT
OK fellow knowledgeable forum members. Here is the ticket to ride. I am not as knowledgeable of some of the long time members here and have only been invested 2 years I wanted to get opinions on how each option was voted. I thought I would share and see what the sentiment was on the people/options I have no knowledge of. I believe in the science and I am voting for the split and obviously for Dan but more info on the other individuals/options would be much appreciated before I punch this ticket. This simply a copy/paste, no voting please but opinions appreciated If anyone feels this is inappropriate I will happily delete this post. Make your selections below, using the options on the right side of the page. Shares available: 35,298 Election of Director: Dan Camardo For Election of Director: Ismail Kola Election of Director: Kenneth Traub Election of Director: Jane Wasman Election of Director: Jack Wyszomierski Ratification of the appointment of Ernst & Young LLP as independent auditors for the fiscal year ending December 31, 2022. Approval of the amendment and restatement of the Athersys, Inc. 2019 Equity and Incentive Compensation Plan. Approval of an amendment to the Certificate of Incorporation to effect a reverse stock split of the Company's Common Stock. For Approval, on an advisory basis, of named executive officer compensation. I'll change my vote in favor if and when they reduce the 600M authorized shares that will be available after a reverse. |
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Post by klrjaa on Jul 10, 2022 10:57:40 GMT
OK fellow knowledgeable forum members. Here is the ticket to ride. I am not as knowledgeable of some of the long time members here and have only been invested 2 years I wanted to get opinions on how each option was voted. I thought I would share and see what the sentiment was on the people/options I have no knowledge of. I believe in the science and I am voting for the split and obviously for Dan but more info on the other individuals/options would be much appreciated before I punch this ticket. This simply a copy/paste, no voting please but opinions appreciated If anyone feels this is inappropriate I will happily delete this post. Make your selections below, using the options on the right side of the page. Shares available: 35,298 Election of Director: Dan Camardo For Election of Director: Ismail Kola Election of Director: Kenneth Traub Election of Director: Jane Wasman Election of Director: Jack Wyszomierski Ratification of the appointment of Ernst & Young LLP as independent auditors for the fiscal year ending December 31, 2022. Approval of the amendment and restatement of the Athersys, Inc. 2019 Equity and Incentive Compensation Plan. Approval of an amendment to the Certificate of Incorporation to effect a reverse stock split of the Company's Common Stock. For Approval, on an advisory basis, of named executive officer compensation. I'll change my vote in favor if and when they reduce the 600M authorized shares that will be available after a reverse. I voted no across the board, including Dan. Not sure how we separate the r/s from the person most responsible for keeping the authorized at 600M. I'm sure Dan will be approved but that's how I voted. |
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