Argos

Anybody think this company will survive through early 2016? Running out of cash, time and no news is bad news.

 

Argos sinking fast. Perhaps they should evaluate their "leadership" team.

 

When does ineffective management get replaced?

 

Sinking fast ... hmmm ... going to be a rocky end to a lousy year for Argos. Hopefully they will find some "angel" funding to keep the dream alive and company afloat.

 

3Q earnings call suggests about 3-4 months of cash left. Argos needs to win the lottery to survive. What real estate investment firm would off company 10s of millions knowing they only have 3-4 months cash remaining prior to implosion? They indicated final data most likely 18-24 months or longer away. Wow - big gamble, low probability. Perhaps someone who needs a big tax write off will come save this imploding company.

 

Investment community - beware. The ship is sinking slowly but surely. Hmmmm .. how long will it take to sink before there is no cash? Well, we should know over the next 8-12 weeks.

 

Ouch .. spinning and concluding the day in the high 3s for ARGS. First time ever. Might be the beginning of a new, bad trend. The Opdivo approval doesn't help (even if it's not relevant). Good luck ARGS ... you definitely need luck and an influx of cash by someone soon.

 

Ouch ... still sinking. Now ARGS is in the high 2s!! Must be getting awfully tense on the inside.

 

Sinking into low 2s now .. when will the bleeding stop. Perhaps someone is going to "rescue" this once promising company? Not much longer before there should be significant change from the inside out at Argos.

 

So, anyone asking how a company that is on the verge of running out of money in weeks has seen it's shares "improve" nearly 3-4 fold in the past 8 weeks? Without cash to operate beyond March 2016, this smells awfully suspicious of the typical Wall Street behind the scenes, not in the public realm, shenanigans. Someone is inflating the stock price hoping to suck unaware public investors into the equation. Buyers BEWARE!!!

 

Funny how the only people who invested in Argos as the ship was sinking (eg. they were on fumes and running out of cash as of March 2016)... were insiders. Private placement doesn't mean everyone should be confident in their runway or outlook. Investors should be careful, this "up to 60MM" primarily from a few key insiders doesn't mean the company or its future is healthy without more financing or "external" help from another company or entity with "expertise" in immuno-oncology!

 

Once Argos reports their 2015 YE numbers and it's clear they were on fumes, the street will once again start pounding away at this stock. At a burn rate of $4MM per month, perhaps slightly more, the $20MM just raised lasts until August, the tranches they receive (up to 60MM) then only buy them another 9-10 months, which takes them to May / June 2017. If they are only at 75% of data for their phase 3 study then (25% per 12 months is the trend based upon their report of ~25% during June 2015; expectation of ~50% June 2016), that means they need another 50MM to get to data review and probably another 25MM to get to BLA if positive. That will be easy with positive data, but how do they raise another $50-60MM to final data?

You savvy investors should ask ...

 

Why does the employee / insider making brief, insulting comments on the other general discussion board not respond to this board? Oh yes, they can't divulge any real information, otherwise their trickery will be uncovered.

Reality - if Argos gets to 100% of their data during 1st half of 2017, the trial simply can't be positive. They have yet to confirm 50% readout in their quarterly calls and have been wishy-washy at best on timing. If that timing is mid-2016 ... the statistics tell all. A readout mid-2017 would be disaster.

Public investors .. beware if you're "in" and if you're not - look elsewhere!

 

Earnings call next Tuesday 3/29. Investors must ask the difficult questions - cash runway / projected monthly/quarterly burn; how does the trial read out positively in 12-14 months if they are only to 50% of events or so now; are they going to continue to plow millions into commercial infrastructure (facility, automation, etc).

Should be an interesting call.

 

Interestingly, the earnings call was typical. More overpromising on timing of trial readout. Funny how they glossed over the reality that the bank account was nearly empty when the initial tranche was finalized. They averaged 5.5-6MM spend monthly in 2015. At that rate, they will be lucky to get to 1Q 2017, even with reduced spend on automation, facility, etc. Their facility negotiations better turn out positive in the next few weeks/months, or they will be running on fumes again by end of 2016.

Everyone should be very cautious with this company until their next data review which is scheduled for early June 2016. If they are just at 50% of events (would make sense if they were 25% similar time last year), there is NO WAY they have enough events by 1-2Q 2017, unless the trial is NEGATIVE.

 

Attention INVESTMENT community - this JUST IN - Argos will not have data from PIVOTAL study until 2018 or beyond if POSITIVE. If NEGATIVE, the kidney study will read out by mid-2017.

Stock RUN UP is false and supported only by 4-5 inside investment firms from recent private placement (oh yes and Zacks.com investment research - the IVY league of investment advice).

Steer the $$$ elsewhere and GET OUT if you're IN. Now's the TIME!!

 

As a current employee, I'm not sure anyone knows when the kidney cancer study will read out. We are blinded to everything and have to rely on the committee to review results a few times a year.

I do agree with the statement about getting out. This place is crazier than ever. I wouldn't invest in our ESPP, but if anyone on the outside was lucky enough to get it when our stock was down at $2 per share, they'd be foolish not to cash in now. We haven't been this high for more than a week or two since we went public!!

I'll keep searching for my next opportunity. Feel like someone is going to pull the plug here and start cutting jobs soon. Just a sixth sense .. but things don't feel right.

 

While I'm still employed at Argos, the news we released yesterday should be a signal to everyone that we are not on course for success. The mismanagement of our spend and overpromises of data and study readout in a year should have resulted in more reductions at the TOP.

Very disappointing that the COO is departing and leaving with millions in profit from the recent stock run up. None of the working employees has any appreciable equity. Makes us all wonder what happens behind closed doors here all the time and how the core leadership team is orchestrating lucrative early retirement. COO is very popular but not sure he should be departing and getting rich as the company continues to struggle. Simply not fair and once again a reason for everyone to keep hanging their heads and being disappointed in lack of leadership and vision from within.

Other employees should follow my advice and keep looking for other opportunities before the ship totally sinks with the next round of layoffs.

 

Time to bail here soon. The atmosphere is simply depressing. Layoffs and now I hear we are going to be hiring more folks. What?!! Not sure how this all works, but seems awfully fishy that our stock price hit highs timed nicely with an executive departure. The majority of us have no ability to cash out on our options because we are prohibited. Now the stock is going to be worthless again. Depressing. Resumes need to be going out broadly.

 

Just to be factual based upon the most recent post. Yes - we are hiring, but as posted on the corporate website, we are only currently seeking a Dir of Clin Ops Dir of Biostats to help prepare us for the eventual phase 3 study readout. Otherwise, business as usual here at Argos.