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Biotech / Medical : NNVC - NanoViricides, Inc.
NNVC 1.190-0.8%Dec 24 12:58 PM EST
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mattstat
To: HardToFind who wrote (12407)11/7/2019 1:49:33 PM
From: HardToFind1 Recommendation   of 12873
 
Think of it this way. You hop into a cab with a sleezy driver (Diwan) who starts the meter and takes you whatever way he wants...while the meter is running on your dime.
Better analogy:

You hop into a cab, and the cabbie proceeds to run his personal errands (a trip to the grocery store, then to pick his kid up from school, then to his home where he delivers the kid and groceries and eats his lunch), all the while the meter is running on your dime.

Yes, despite urging by then-CEO Seymour to pursue licensed indications for HSV-1 and HSV-2 that could be tested in animals first, Diwan instead diverted the direction of development to a then (supposedly) "unlicensed" indication for the same drug, spending over a year to validate a model using cadaver plugs to prove out an indication that could not be animal tested. Then he finally licenses this new indication for series A shares (i.e., continued voting control of the company even after the reverse split and the proposed massive dilution to existing shareholders), cash payments exceeding the current market capitalization of the company, and an egregious 15% royalty for something NNVC had paid all of the expenses to develop.

If you like betting on the horse (the science) it seems like a good bet; but if you're more a fan of betting on the jockey, this is a very tempting short. It can still lose 100% from here.
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