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Bob what's your take on the future of this company??
Genesis Biopharma Issues Letter to Shareholders
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Genesis Biopharma, Inc. (OTCBB: GNBP), a biotechnology company developing targeted cancer immunotherapies, issued the following Letter to Shareholders today:
Dear Shareholders,
Now that the merger between Genesis Biopharma and Lion Biotechnologies is complete, I’m both proud and pleased to greet you as fellow shareholders of the combined company. This is a pivotal moment for our new company, with its rich heritage giving shape to exciting future possibilities. With your continued support, I am confident we can realize them together.
Although it has been only two weeks since I was appointed chairman and CEO, my confidence in our company is rooted in more than 20 years of experience in the biotechnology industry as a scientist, inventor, executive and venture capitalist. Through these experiences I have cultivated an affinity for cutting-edge technologies that have strong science behind them — and significant untapped potential in front of them.
It was this affinity that led me to ImmunoCellular Therapeutics (NYSE MKT:IMUC), a cancer immunotherapy company where I most recently served as president and CEO. Drawn to the novel technology at its core and the renowned thought leaders who had developed it at Cedars-Sinai Medical Center, I became the company’s sole employee in February 2008. At the time the company’s shares were trading on the OTC Bulletin Board at a market capitalization of $6 million. Within five years we had up-listed trading to the New York Stock Exchange and had a $150 million market cap, a strong pipeline led by a promising Phase 2 cancer vaccine, robust intellectual property and a world-class management and development team.
After leaving ImmunoCellular last year, I founded Lion Biotechnologies as a private venture based on the same quest that contributed to my previous company’s success: the acquisition of cutting-edge technologies from leading U.S. medical centers that have potential to address significant unmet medical needs. Having investigated many such innovations, the tumor-infiltrating lymphocyte (“TIL”) technology struck me as a particularly valuable asset because of its potential to cure cancer patients for all solid tumors
Developed by Dr. Steven A. Rosenberg at the National Cancer Institute, and in use at several top cancer centers, our TIL technology has demonstrated distinctive efficacy in Stage IV metastatic melanoma. In Phase 2 clinical trials, patients treated with this product demonstrated objective response rates of 49%, significantly exceeding those associated with existing melanoma treatments, including the 11% response rates seen with YERVOY® (anti CTLA-4 antibody developed by Bristol-Myers Squibb), the latest drug approved for metastatic melanoma with sales of more than $700 million in 2012, its first full year of commercialization.
We plan to further develop Genesis’ technology, including developing a next generation TIL technology, which should allow for a more potent product and a significantly reduced cost of manufacturing. (This follows the approach we took at IMUC in developing a second generation cancer vaccine to improve the efficacy and cost of manufacture.) Our TIL technology is not only applicable for melanoma but potentially for all solid tumors including ovarian, colorectal, head and neck, and other cancers allowing us to significantly expand the commercial opportunities for our products. To fund related increases in our R&D costs, we intend to raise additional capital over the next year to develop a more robust manufacturing process for these products and to continue clinical development of our melanoma product candidate.
As part of enhancing our company’s profile in the investment community, with an eye towards a potential up-listing to a national exchange such as NYSE MKT or Nasdaq, our Board and our majority shareholders have approved a reverse stock split in a ratio between 1:50 and 1:100 which will be executed shortly. This will reduce the number of outstanding shares significantly and bring the share price to a level where I believe our company is a more attractive investment for institutional fund managers who may be restricted from buying ultra-low-priced shares.
As part of our transformation to a new and innovative company, we are also building a team of experienced and talented leaders. Sandy Hillsberg, who was instrumental in co-founding Medco Research and IMUC and is currently Chairman of Galena Biopharma, is joining the board of directors later this month. In addition, Dr. Jay Venkatesan, a hedge fund manager focused on life sciences who was a lead investor in my previous company, is also joining the board. We plan to continue expanding the management team with some of the best and brightest talent in the biotechnology industry. Our model is to be a small company with a world-class management team capable of designing and executing on novel therapeutic developments.
As excited as I am about the potential of the new company and its groundbreaking technologies, I recognize there is much work to be done along the way. On the one hand, personalized cell-based treatments provide truly individualized treatment for a patient’s specific tumor markers, which tend to vary widely from patient to patient, yet on the other hand have significant cost and logistics issues. However, there are novel automation technologies currently in use for other applications that may be adaptable to T-cell manufacturing to create a more robust production process that reduces the cost of these individualized products.
Still, I am grateful for the confidence you have placed in me to lead our new company through this critical time of both challenge and opportunity. I will be in touch with you frequently regarding important milestones and developments including clinical-development timetables, but warmly welcome you to contact me at any time if you would like to speak further.
In closing, I firmly believe that Genesis has the leadership, technologies and strategic elements necessary to capitalize on a period in which we are seeing extraordinary advances in, and growing investor recognition of, cancer immunotherapy. With the continued support of you, our shareholders, I am confident that Genesis, soon to be renamed Lion Biotechnologies, will swiftly emerge as a leader in this field.
Sincerely,
Manish Singh, Ph.D.
Chairman & Chief Executive Officer
About Genesis Biopharma, Inc.
Genesis Biopharma, Inc. is engaged in the development and commercialization of T-cells and engineered T-cells for the treatment of various cancers. The company's lead product candidate, Contego™, is a ready-to-infuse autologous T-cell therapy utilizing tumor-infiltrating lymphocytes (TILs) for the treatment of patients with Stage IV metastatic melanoma. Contego™ is based on a currently available physician-sponsored investigational therapy at the National Cancer Institute, MD Anderson Cancer Center and the H. Lee Moffitt Cancer & Research Institute for the treatment of Stage IV metastatic melanoma. For more information, please visit http://www.genesis-biopharma.com/.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company's plans, objectives, projections, expectations and intentions and other statements identified by words such as "projects," "may," "will," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "potential" or similar expressions. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties, including those detailed in the Company's filings with the Securities and Exchange Commission and those that relate to the Company's ability to leverage the expertise of employees and partners to assist the Company in the execution of its strategy. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including market conditions, risks associated with the cash requirements of the company's business and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission, and represent the company's views only as of the date they are made and should not be relied upon as representing the company's views as of any subsequent date. The Company is a development-stage company that will require significant capital and other resources to further develop and commercialize its technology. The Company does not currently have the capital or resources required to develop this technology into a revenue producing asset. Furthermore, the Company will need to expand its current management team and other personnel to achieve its technological and financial objectives. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
INVESTOR CONTACT:
LHA
Don Markley
Senior Vice President
310-691-7100
dmarkley@lhai.com
As part of enhancing our company’s profile in the investment community, with an eye towards a potential up-listing to a national exchange such as NYSE MKT or Nasdaq, our Board and our majority shareholders have approved a reverse stock split in a ratio between 1:50 and 1:100 which will be executed shortly
look to enter after some consolidation after the RS.
things should get interesting.
gl
The Spider and the Fly
Dr. Singh has no idea what's in store him. He has made the biggest mistake ever and doesn't even know it.
Bob,
Agree. However great entry point now considering Genesis will be better managed by investor friendly Dr. Singh. A $10k investment at these levels can be a potential 10x bagger at just $1 & above
great long term move.
short term is still murky, GNBP as we know it now will be different in 6-12 months.....too many unclear short term variables
im speculating the current share structure will be lot different in that timeline.
It was a great hire, as he is an investor friendly CEO.
but will take time.
hence, im following but not in yet.
gl
Is there potential for this company or just way to early to tell??
Great news for Genesis shareholders that Dr Singh will be new CEO via this merger. He is very Street savy and we will see steady pps appreciation.
will be following, strong CEO, hated to see him leave.
in your good hands.
gl
LION Biotechnologies- It should be noted that after the merger, the company shall be known as LION BIOTECHNOLOGIES and will continue trading under ticker GNBP for the time being.
Former IMUC CEO, MANISH SINGH, is NOW CEO of Genesis Biopharma
http://finance.yahoo.com/news/genesis-biopharma-announces-completion-merger-123000292.html
This is fantastic news. Stock up 60% today! Major step for the company.
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c
another filing form 4 bristol investment fund
another filing today
more filings the last two days keep hitting
change of control filings today, and exchange agreement.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9324264
i was reading on some of your thoughts. tony can't be trusted?
Genesis Biopharma, I (GNBP)
0.1 ? -0.002 (-1.96%)
Volume: 1,500 @ 2:49:16 PM ET
Bid Ask Day's Range
0.08 0.1 0.1 - 0.1
GNBP Detailed Quote Wiki
On January 14, 2013, Genesis Biopharma, Inc.’s (the “Company”) Chief Executive Officer Anthony J. Cataldo, with the consent of the Company’s Board of Directors, undertook a leave of absence from his position as the Company’s Principal Executive Officer without prejudice to his rights under his employment agreement. During the leave of absence, Mr. Cataldo will remain a director of the Company
With consent of Board.... You go Guy....
Undertook a leave of absence.. Reason? Maybe it was his health. All the questions were making him sick...
Without prejudice to his right under his employment agreement.. I guess Tony still wants to keep his $ 300,000 a year salary and his millions of shares of free stock..
OK Merrill its your turn . How about 10Q that was due on 11-14-2012.
Chairman Hans Bishop Resigned
CEO Tony Catalo Leave of Absence
CFO Mike Handelman ????
Stay Tuned
Could this latest series of SEC filings indicate that Paul Kessler and Tony Cataldo are having a parting of the ways and Paul is putting another of his cronies, Merrill McPeak, in charge?
Or does Paul have other plans for Tony at another company?
Start Engine?
RXPC?
MILL?
Maybe Merrill will step up and get 10Q filed, find a new Chairman to replace Hans Bishop, get all debts and obligations paid up to date and/or extended, and move forward with commercializing Contego.
Or Not
8K filed today!
On January 14, 2013, Genesis Biopharma, Inc.’s (the “Company”) Chief Executive Officer Anthony J. Cataldo, with the consent of the Company’s Board of Directors, undertook a leave of absence from his position as the Company’s Principal Executive Officer without prejudice to his rights under his employment agreement. During the leave of absence, Mr. Cataldo will remain a director of the Company.
(c) On January 14, 2013, General (Ret.) Merrill A. McPeak, who has served as a member of the Company’s Board of Directors since July 2011 and is a member of the Company’s Compensation Committee, was appointed to serve as interim Chief Executive Officer.
General McPeak has agreed to serve in the position of Interim Chief Executive Officer without any compensation agreement or arrangement with the Company at this time.
I think we can all see where this is heading.
Just so you would know
“Anthony J. Cataldo” has been a Signatory for/with the following 11 Registrants:
1st Miracle Entertainment Inc [ formerly 1st Miracle Group Inc ]
1st Miracle Group Inc/Ontario
Brandpartners Group Inc [ formerly Financial Performance Corp ]
Calypte Biomedical Corp
Genesis Biopharma/Inc [ formerly Freight Management Corp ]
Green St/Energy/Inc [ formerly M Wave Inc ]
Independence Resources PLC [ formerly Senetek PLC/ENG ]
Management Technologies Inc
MATECH Corp [ formerly Material Technologies Inc/CA ]
Oxis International Inc [ formerly Ddi Pharmaceuticals Inc ]
Voip Inc [ formerly Millennia Tea Masters Inc ]
Check them out folks.
GNBP closes at $ .095. Well its another record low close on a stock of a Cataldo led company.
I predicted $ .10 - $ .15 by Feb 1, 2013 if no 10Q was filed.
Tony beat that deadline by a full two weeks and has GNBP closing under a dime for the first time.
Tony "Record Low" Cataldo strikes again.
Reply to my post of 9-30-2012. Its just as relevant today 3 1/2 months later. Probably even more so based on Bristol SEC filings this month.
HMM Stock at $ .095
Only ones who are still above water are those insiders that got their stock free at a "deep discount".
Tony and wife Ines Cataldo 6.5 million free shares (now with 5.5 million free shares)
Martin Schroeder (GNBP director and on GNBP compensation board that later gave Tony Cataldo a $ 300,000 a year salary and backdated his benefits 8 months to his hiring date in February) 1 million shares for $ 1,000 ($ .001 a share). This was purchased from Tony Cataldo but lied about in initial SEC filings as a "consulting" agreement.
and Bristol Group (Paul Kessler) who got over 10 million shares for less than $ 156,000(about $ .0156 a share).
These guys are "something else" aren't they.
HMM starting the day with a 100 share trade at $ .0925. Is that some kind of signal?
Oh well as they say in the auction business its not where you start its where you end up. Lets see how the day progresses.
Anyone locate the lost 10Q?
Anyone heard from Tony or Mike in last 6 weeks?
The "paint the tape" buy of 2000 shares in last hour of trading only got stock up to $ .1259.
Pretty Pathetic
agreed rappinjoeyb
too bad this company haa the management team it does.
The biggest shame is any delay that the executive mismanagement of this company causes in getting the TIL cell treatment to those who need it most, patients with advanced stage melanoma. Response rates in trials exceed anything that's been approved by the FDA, including several new therapies in the past two years. The clinical trials will continue regardless and eventually this life-saving therapy will be available to more patients at more locations. One only hopes that the apparent neglect of this particular business doesn't slow the continued testing and inevitable approval of the treatment. There are over 75000 new cases of melanoma in the US every year and more than 9000 Americans will die from it in 2013. This technology developed by brilliant and dedicated physicians and scientists at the NIH can put a dent in that 2nd number.
Somehow I don't think that "forward looking statement" by www.macroaxis.com will be mentioned in the next Money TV "interview".
wow almost $25 of trades so far today.
Go GNBP
To: Bill Andrews, Stephen Coles, Merrill McPeak, David Voyticky. and Martin Schroeder
As independent directors here at GNBP I would like to applaud you for serving as directors and putting your personal assets on the line for GNBP. The world needs more courageous men like yourself who are not afraid of losing their personal assets in the event of a large Directors and Officers lawsuit or other possible actions for which they might be held liable.
Once again, thanks for your service.
Apparently Hans Bishop was not willing to "stay the course" like you gentlemen.
Paul Kessler and Andy Dube should show their support by serving on the board here as well, don't you think?
www.macroaxis.com says of GNBP :
Chance of
Bankruptcy More
Than 99%
In The Next
Two Years ?
Genesis Biopharma Inc has more than 99.0 (%) percent chance of experiencing financial distress in the next 2 years of operations.
-----------------------------------------------------------------
Hardly a surprise
Stock in a Tony Cataldo led company (GSTY) is up over 1300% on one 5000 share trade at $.02.
Someone will be surprised that their $ 100 trade increased the share price by that much of a percentage.
Will this signal a "turnaround" for Cataldo led companies?
I wonder what filings or other news will "arrive" this week?
Monday 1-14-2103 will mark the 2 month anniversary of Tony Cataldo and Mike Handelman NOT filing 10Q for 3rd quarter of 2012.
July 2011 Press Release Too Funny For Words:
(1888PressRelease) July 05, 2011 - Los Angeles, CA - Ever since Genesis Biopharma Inc. producers of targeted cancer therapies, has announced that Mr. Anthony Cataldo shall be the Chairman and CEO of the company, there's been a positive vibe that he's sure to change the company's prospects with his vast experience. Tony has more than 20 years f experience in managing publicly traded companies in various sectors including VoIP and media.
A former employee of the US Air Force, he brings along the rigors needed to lead a publicly traded company. He is also the Chairman, CEO and Director of Oxis International Inc., ( that lasted until October 25,2011) a position he has held since 2009. He has also served as a non executive Co-Chairman of the Board of MultiCell Technologies, a company that supplies functional non tumorigenic immortalized human hepatocytes. As the Chairman of the company, he led the company from a debt worth millions of dollars to success? success?. From 2006 to 2008, he has served as Chairman and CEO of VoIP.( Company Now out of business stiffing payroll to its employees) He is also the CEO of the board of Green St. energy, a company that has forayed into the alternative energy business.(Another Cataldo dead in the water company) From August 1995 to 1998, Tony Cataldo served as the President and Chairman at Senetak, PLC a company that's involved in age related therapies.
"It's very important that the biotechnology industry uses its experience and resources to find cure to chronic diseases and to help them recover quickly. A classic example is Genesis's latest product that aims to cure Stage IV metastatic melanoma. Our Advisory board comprises of leading oncology researchers, and clinicians in the US. These personalized medicines are sure to help people suffering from chronic diseases. Research in biotechnology not only helps to save lives, but also manages to reduce health care costs and keep the country ahead when it comes to innovative therapeutics," says Tony Cataldo when asked about his contribution to the company.
As earlier said, Tony has vast experience over a wide variety of industries including media and VoIp.( All Failures selling at less than 2 cents a share, all but one under a penny) ) He has served as the CEO and Chairman of the Board of Directors of Miracle Entertainment, Inc. where he was the executive producer of several motion pictures.( Name one successful one.)
About Tony Cataldo: 58 year old Tony Cataldo ( actually in July 2011 Tony was 60 years old so this is just a blatant lie) is an inspiration to many in the biotechnology industry and has more than 2 decades of experience in handling publicly traded companies.( Maybe this will be his FIRST successful one. GNBP Stock in July 2011 was at about $ 1.40 a share. Its now less than 14 cents. so I guess not.)
Par for the course....
Looks like another Cataldo company falling into the "Another One Bites The Dust" category.
zero sales zero news zero filings same old same old
$250,000 CRADA payment in December?
The $ 250,000 CRADA payment is the one payment that GNBP HAS to make or risk losing Dr. Rosenberg and their only real asset.
While they have been stiffing NIH and other investor lenders over the past year they always found a way to make the CRADA payment. (Sometimes a bit late, but made nevertheless.)
It is now very questionable as to whether the CRADA payment due in December was made by GNBP. GNBP has no cash income except for loans or investors. GNBP has not announced any new loans or investments of $ 250,000 that would cover the December CRADA payment. Tony Cataldo and Mike Handelman have gone dark, with no word at all since the 12-4-2012 announcement that Hans Bishop had resigned.
Today's filings make it official that Bristol is stating its claims against GNBP and any assets they may still possess. I expect that Theorem and Ayers as well as many of last years 13 individuals who loaned almost 1.5 million in spring and summmer of 2012 will be thinking of doing the same thing very shortly.
Another in a long line ..........................
Shucks, Durn. Heckfire
I saw that GNBP had new SEC filings and rushed to see the 10Q now 56 days late.
Unfortunately it wasn't the 10Q but Bristol making its "stuff hitting the fan" filings.
Of course I was disappointed in not seeing the 10Q but there was a little meat in the filings .
We learned that the monies owed Bristol by 11-30-2012 were not paid(surprise, surprise)
We learned that Bristol acquired over 10 million shares of GNBP for just over $ 155,000 or just over $ .0155 a a share.
We learned that Bristol on October 12, 2012 loaned GNBP $ 11,500 due by 11-30-2012. Lets connect the dots on this $ 11,500 shall we. On October 12, 2012 Tony Cataldo had his first of about 5 interviews on Money TV. (The last one was on 11-16-2012, 2 days after third quarter 10Q was normally due). What was the price of these "interviews" ? Well according to Money TV it works this way.
"MoneyTV provides companies a 3 to 4 month corporate profile with multiple appearances for a cash fee of $11,500.00 to $17,250.00, does not accept company stock as payment for services, does not hold any positions, options or warrants in featured companies. The information herein is not an endorsement by Donald Baillargeon, the producers, publisher or parent company of MoneyTV. "
Gee $ 11,500 and October 12,2012 date in common . Wonder what the odds of the $ 11,500 not buying this paid hype publicity would be?
Finally Tony Cataldo and his fiancee/now wife get over 6.5 million shares for free, Martin Schroeder of Emmes Group (a GNBP director on the GNBP compensation board that backdated Tony Cataldo's $ 25,000 a month salary about 8 months) gets 1 million shares(from Tony) for $ 1,000 or $ .001 a share. Insider Bristol Group gets 10 million shares at just over a penny and a half.
Retail investors have seen stock come down from over $ 1.40 down 90% plus to less than $ .14 now.
Tony Cataldo, Martin Schroeder,and Paul Kessler are still In the black on their stock acquistions. Are you?
10Q now 56 days past due.
give em an E
Bid Ask Day's Range
0.095 0.144 0.095 - 0.139
Yeah Buddy!!
Now 55 days since 10Q was due.
Do you know where your Cataldo is?
10Q now officially 54 days past due!
Still no Tony. Still no10Q! 2000 shares traded at $ .072 and 500 shares traded at $ .164 today
Nuff said
Tony and his wife might be laughing at us now. They got lenders who put in about 1.5 million last spring to use company assets (and how much are they worth) along with their personal stock in GNBP (which they got for free) as collateral for the funding; allowing Tony to keep collecting his $ 25,000 a month salary.
Yeah Buddy, Tony is a pro at work.
Tony better get that 10Q out before stock price plummets any more.
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