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Tom, do we really think they’re still a going concern at this point? Hard to believe they have any cash left to burn through. If they are still burning, through what little they might have left, then surely that means they think a future cash raise is still on the table, otherwise it’d be throwing good after bad.
The Company needs to release some information to legacy investors immediately -- not SEC info, a joint letter from the CEO and CSO. People need to know what's going on. Is the IPO dead? Do they have a survival plan in the absence of IPO funds? Are they planning to be acquired? How are they planning to maintain their present, elevated burn rate? Investors are entitled to know what's going on.
@pcarew & @bbb... They are too small to have an actual investor relations department, regardless of what the web site says. I have direct, albeit infrequent, lines of communication with the CFO and CSO. They won't address the IPO. And, realistically, they probably can't, with insider trading laws. Other than the CEO (whom I've never communicated with, and who has been as invisible as Zamora was) and the regulatory expert (who I don't think is really all that involved), there isn't anyone else outside of ThinkEquity who knows what is going on. Perhaps the ex-CFO, who I think is still a consultant. And maybe the board member they hired last year, who I never heard of. And, of course, Zamora -- yeah, good luck with that. As to @bbb's standard invective, it's a tiny company trying to enter the big leagues, in desperate need of IPO money in a strapped IPO market, trying to break through in a field with a fierce headwind. It always was a longshot. But they have done everything right in the past year or so, after a couple years of horrible missteps. Whether that amounts to anything is TBD.
I might suggest contacting their Investor Relations dept.
at ir@vitrobiopharma.com
LoL.. I don't need a specific date to be disappointed in this pseudo company and their screw-ups.
I see. Well at least it's something. And the symbol is still showing on Schwab, albeit with a 0 balance still. I wonder why they aren't marketing the IPO to us. You'd think they'd want to invite us to participate, through a simple press release giving an update on their business and telling us how to get in on it. After all, we already have skin in this thing, so we obviously have an interest in seeing it succeed. If it weren't for you, I'd have no idea that an IPO was even in the works.
@grandslam... the "webull" site. No way of knowing if it is credible, but the first two IPO dates that they posted were. However, in this case I see no further corroboration elsewhere. I have no idea where webull gets its information.
I'd encourage people to also peruse the withdrawn IPO list, available in various places, including MarketWatch. Mainly because I'd guess that this is where VTRO's IPO is heading. IMO, this is classic chicken & the egg -- they need the IPO $ to do the clinical trials, and they need the clinical trials to attract enough interest in the IPO. In the end I suspect they will withdraw the IPO and find an angel to pay for the clinical trials, with significant damage to legacy shares. Obviously, I hope I'm wrong. But they can't keep doing IPO dates and failing to price them. They can't survive on current revenues with the current burn rate.
Haha something to look forward to! Where are you getting that date from?
It appears that our next date to be disappointed is next Friday 10/6.
@grandslam... I think Yahoo was just reacting to events, and the mechanics of their boards are probably semi-automated. I.e., the IPO was pulled in August so they pulled the VTRO board. Not sure why they didn't do the same in September. In any case, I think it's pretty obvious that ThinkEquity is having difficulty with IPO demand. I think an IPO has to be 90% sold (or something like that) or they have to refund the money to those who bought -- basically undo it. And nobody needs that. ThinkEquity is a lower rated investment bank, with a shaky track record, so it is not a big surprise that they are having trouble selling larger investors on this. If I were a larger investor, the question I'd have is "look, so you have a good product, great, but what is your plan for FDA approval? -- Mesoblast had a 9-1 advisory board vote and still didn't get approval on an orphan drug for suffering children with no alternatives". I imagine that many discussions have been taking place behind the scenes with Dr. Mosessian, who handles the FDA issues. And I can only guess that they haven't sold enough people on their prospects. But we'll see. $10 million is chump change in the biotech business. You'd think that there are at least a few investors willing to take a flyer.
Also what caused the new ticker to be added to Yahoo, then removed, then reinstated again?
I saw the article when it came out. I didn't take it very seriously when I saw "NASDAQ". Obviously a cheerleader type article written by someone (or an AI), who hadn't bothered to read any of the filings from recent months.
Lacking any info to the contrary, it is evident that ThinkEquity is having trouble generating interest in the IPO. The Company keeps issuing bits of paper to stay afloat, which presumably isn't enough to start the clinical trials, and accomplishes very little. So I can't imagine any upside to delaying the IPO. All other details seem to be taken care of.
What I don't understand, not being an equities expert, is how the August and September dates were generated and publicized. There has been nothing from the Company for over a year, except the SEC filings. Is that info coming from ThinkEquity via the AMEX? Or are those dates simply presumed by someone and then repeated on questionable web sites? I doubt the latter, since more mainstream sites seem to react to the information also. They seemed like real dates. But I have no idea where they originate, or if they were mirages with legs.
"Then nothing"................ what surprise!!
At one point, at least, the press was all agog. Then, nothing. https://beststocks.com/vitro-biopharma-inc-revolutionizing-healthcar/
Yeah, you're right. That was wishful thinking. I can only assume that if ya got nothing good to say, you say nothing. Lacking such information, the only reasonable conclusion is that ThinkEquity is unable to generate enough interest in the IPO. Without which we're left with a top-heavy company with no money and no obvious path forward. At that point I think they probably need to think in terms of licensing or selling the manufacturing platform, and shutting down the primary product and research businesses. It's not clear to me how (or even why) they would continue to operate as a domestic biotech if they can't do very basic clinical trials. But hopefully they'll prove us wrong. Maybe they wanted to wait until the beginning of the next fiscal year in October? More wishful thinking ...but that's all that's left when you're working with deafening silence.
Hear something from them? After 2+ years of nothing? Thanks for the laugh, I needed that!
Another IPO date come and gone with no news. At this point I can only assume that ThinkEquity is failing in its attempt to sell enough of the IPO for it to launch. Which wouldn't be surprising, given that they trimmed it to bare minimum valuation & share price over the summer. But who knows. It would be nice to hear something from the company, with two IPO dates now passing quietly.
I have no idea what tomorrow will bring. TBH, this doesn't feel any different than a month ago. I wouldn't be surprised if another IPO date comes and goes with no explanation from the Company. But we will know soon enough. GLTA.
The Yahoo board is reinstated. So maybe the IPO is real this time. We'll see soon enough.
Not offhand, but, you can do the math. They are creating 1.8 million new shares. Those will not be tradable for 180 days. There are something like 4 million legacy shares after the reverse split, of which Musick & Zamora own something like 60%, maybe more (again, I forget the exact numbers). Those should not be tradable either for 180 days. Accounting for other blocks of insider shares, I imagine that there will be well under a million tradable shares out in the wild for 180 days. Probably more like half a million. But the numbers are all easily deduced from their recent SEC reporting. Whatever the exact number, supply will be very low for a while, after the initial share dump by prior day traders. Whether there is any demand remains to be seen.
Do you know how many shares outstanding there will be?
@dg33... The lockup period typically would not apply to standard investors (i.e., not insiders or major investors). I have no idea if there are special rules in this case. FWIW, it doesn't matter much to me because I have no intention of selling. I expect a short term dip in SP, as all of the day traders who got caught with shares at the delisting finally get their chance to divest.
Even though a lockup period usually pertains to insiders, i assume it applies to us as well?
From Benzinga. Showed up in Schwab Thinkorswim news:
Vitro Biopharma, Inc (NASDAQ:VTRO) becomes publicly listed starting on Sept. 13, 2023. The company has a price range set between $5.00 and $6.00 with a 180-day lockup period. Vitro Biopharma, Inc will be offering 1,818,000 shares at a per-share value of $5.50.
@BBB... If the IPO fails, you're probably right. If it succeeds, then I don't see the point of the vitriol. It always was a risky bet, and our chips are still on the table. If they get the money for the clinical trials, they will have done what very few stem cell companies have done, which is to enter the world of legitimate, FDA-approved, domestic clinical trials. It's still a longshot from there -- as any small, early-stage biotech is. Further dilution is all but certain. But if these early trials go well, the share price will outgrow the dilution. Obviously, if the early trials fail, it's probably game over for the early shareholders, and Jack Zamora will likely own what's left for his offshore treatment and "cosmetic dermatology for the Aspen crowd" businesses. But that's the nature of this type of investment. You win big or lose it all. If that's your definition of "PoS", then I can't argue. For me, it's more like "this is what I signed up for when I got interested in a woefully underfunded penny stock 16 years ago".
VTRO is now in my Schwab account. No bid, offer or value.
They released the Q3 10-Q and and updated S-1. I don't have time to read them. I imagine the S-1 just includes updated info from the 10-Q. Every time I read one of these things it just reminds me that Jack Zamora somehow or another owns 30% of the stock. I don't know how that let that happen, but there must be a story in there somewhere. In any case, the IPO is obviously alive, since they updated the S-1. So there's that.
Well I guess we're used to waiting huh? Wonder what prompted Yahoo to put it up a couple weeks ago, and then now to take it down? As you say, looks like we are at a critical juncture here. Heck it's been 2.5 years of waiting now, so what's another month?
The best I can say is that (1) the Company never announced an IPO date (I have no idea where the couple web sites that published the August date got their info, or, for that matter, where Webull got 9/12), and (2) if they were pulling the plug on the IPO, we probably would have heard something. So I don't know if there is cause for extreme pessimism or optimism. Yahoo pulling the ticker likely just reflects the fact that it isn't trading yet. Of course, we all can reasonably wonder why the delay, if the offering isn't in some distress. They are burning through dollars with each passing month, with approved clinical trials waiting to get started. If anything triggers some worry, it's that. And so we wait.
It looks like Yahoo pulled the new VTRO board. Not good.
Thanks FBC. I haven't been able to find any information. Yahoo doesn't show the new ticker anymore. The reverse split and the ticker approval happened quickly, and there was apparent expectation of the IPO happening last week. But that was clearly wrong. I have to wonder if the FDA handing Mesoblast another CRL led some investors to rethink their stated interest. Let's hope we're still on track.
Expected listing date / Webull site is 9/12; not sure how accurate but that's the only site where I could find an updated date.
Still not trading this morning. Nothing from the Company that I can see. Suggests to me that they are still trying to sell the IPO, but who knows.
The Yahoo board is up. I intend to post here until they remove it (I assume they will move or remove it, since the ticker is no longer VODG and the company is no longer delisted). Good luck to our friends at VB tomorrow. May we live long and prosper.
It is looking more and more like the IPO is happening over the next few days. Keep your fingers crossed that it is fully subscribed.
Yeah, not looking forward to that again. After the IPO, I will likely restrict any activity to whatever board has the fewest loudmouths. I have no interest in sparring with the Yahoo crowd, a few of whom are still there. Of course, with VTRO now entering a real exchange, engaging in FDA-approved clinical trials, working with a real manufacturing platform (something MESO doesn't have in-house), fully compliant with the SEC, and basically out of the offshore treatment business, they will have fewer obvious targets. I would actually welcome some civil discussions about the two flagship cell products (AlloRx vs. Ryoncil), but it always dissolves into childish nonsense over there. Of course, the way things are going, we might soon find that VTRO has the larger market cap.
All questions to be resolved after Wednesday, if things go according to schedule -- which I doubt, but you never know, maybe we actually will be trading again in a couple days. Wouldn't that be weird?
Too bad about Meso. They're getting hammered again today. I remember lots of trash talking going on between us on the Yahoo board back in the day.
It appears that the FDA moved the goalpost on Mesoblast once again. We can only hope that VTRO, being a U.S. company with its own domestic manufacturing platform (not to mention what is likely a more effective product, if the papers on UC-derived cells are to be believed) will fare better. It would be great to get Dr. Musick's thoughts on this, and general prospects with the FDA, after the IPO executes. The FDA sure has been yanking Mesoblast around. And one wonders if most of that is legit, or if their familiarity with and loyalties to Big Pharma are insurmountable. You never know, some of those Mesoblast investors might be inclined to take a flyer on VTRO at this point.
If Mesoblast's news is good, it will almost certainly once again have a market cap north of a billion dollars next week, if not a couple billion. I can't imagine that VTRO's will remain at $35 million in that scenario. Potentially better product... proprietary in-house manufacturing/expansion platform... FDA trials ready to go... It will take some time for VTRO to earn a spot with Mesoblast as a leader in the industry, but speculation could easily (and quite rationally) drive their valuation into the $300 million range very quickly. This could get interesting very quickly, unless the FDA decides to rain on everyone's parade again.
@FBC... Yeah, Marketwatch was showing next week. I had only seen one site that had 8/3, and I was skeptical of that. Marketwatch is a more credible source.
I have to wonder if the timing of this has anything to do with Mesoblast's pending approval with the FDA. If they should finally get approval for an allogenic MSC-based treatment, it would likely provide a huge tailwind to VTRO as well. With only 6 million shares outstanding, and a tiny float, VTRO would quickly become the high-leverage play, with a lot of dollars chasing extremely scarce shares. That's my fantasy anyway
Today must not be the start of trading. One site now says 8/ 9; another 8/8.
TD Ameritrade still does not show the VTRO ticker symbol.
Yes Schwab is now showing the VTRO ticker, though the dollar amounts are still "N/A". I assume they will start showing on Thursday, if that date indeed turns out to be the one.
It appears that the NYSE has approved the newly consolidated securities and VTRO ticker for trading. We're almost there!
I saw the 8/3 date on one site, but I have no idea if that is real. We'll know soon enough.
It will be good to get back to looking at the company's actual business. Interestingly enough, their 5-year commercialization plan that they announced in 2018 has apparently landed in a good place (in this realm, "survival" is a good place). The delisting, Giostar and the Zamora Era weren't great developments, obviously. But they somehow managed to leverage limited funds into things that matter -- like the manufacturing platform, ISO certification, a body of anecdotal safety and efficacy data gleaned from offshore activities, and some sort of relationship with the FDA. They emerge from that transition managing to distance themselves from the offshore stigma without giving up the revenue (having subbed that stuff out to Zamora), with FDA-approved domestic clinical trials in the pipeline. All with what appears to be only a roughly 50-60% dilution of legacy shareholders, while all of that was happening, even with Zamora's equity fleecing. That's amazing. This is a very usual situation.
So they find themselves emerging as a legit domestic biotech, with a domestic manufacturing capability that they own and control (unlike Mesoblast, the 500 pound gorilla, but an Australian company that apparently relies on Lonza facilities in Singapore),
All they need to do now is perform. Once the IPO hits, the race is on. There will be more dilution and capital infusion in the next year or two. You can count on that. The question is whether the interim results with the science, and perceived value of the company's IP, can outpace their need for new dollars. And can they finally convince the FDA that MSC technology is both explainable and reproducible? So far Mesoblast has failed to do either. If VTRO can succeed in answering those questions, then this $35 million dollar company will have a billion dollar valuation before you know it. If they fail, then you can plan on your investment being diluted into irrelevance. For now, I am grateful that it seems like we will have a chance to see another chapter in the story.
Saw info online that anticipated IPO date is August 3.
An article I read says: If certificate is registered in your name,you have 3 options:
1. Keep it in a safe place until you are ready to trade.
** You can cash them in through the transfer agent of the company with which the stock is owned.
2. Deposit into an existing brokerage account.
3. Open a brokerage account where you can deposit it.
(All these pending the listing on NYSE American(?)
384.6 shares after reverse split?
I found old vitro stock certificate in a drawer,it's from 1990 for ten thousand shares,what should I do
@grandslam... You won't see VTRO until the securities are accepted on an exchange. The important thing for now is that the shares were all properly processed in response to a formal filing with the SEC (the reverse split). That finally puts to rest any nightmare scenarios about the shares being lost in the shuffle of the delisting. We don't have to think in those terms anymore. You can now be 100% confident that your newly consolidated shares will have the VTRO ticker as soon as the IPO is completed. We didn't have that confidence before this week.
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JAMES R. MUSICK
Chairman, President & CEO
Vitro Diagnostics, Inc.4621 Technology DriveGolden, CO 80403
(303) 999-2130
(303) 762-1240 – FAX
www.vitrobiopharma.com
SIC Number: 2836
Fiscal Year End: 10-31
Transfer Agent: Securities Transfer Corporation
2591 Dallas Pkwy Ste 102
Frisco, TX 75034
469-633-0101
CIK: 793171
Outstanding Shares: 17,214,000 Public Float: 11.577M
Authorized: 55M
All Share data is up to date Taken from the 10K & 10Q 2008:
In the last 12 years the OS has only been raised 8M shares
The company has been fully reporting since 1996
There has never been a Reverse Split
Nevada Secretary of State:
Copy link into your browser for Authorized Share Info
https://esos.state.nv.us/SOSServices/AnonymousAccess/CorpSearch/CorpDetails.aspx?lx8nvq=je%252b030vYJV4m6q8vvRTC9Q%253d%253d
DISCLAIMER: Nothing in the contents transmitted on this board should be construed as an investment advisory, nor should it be used to make investment decisions. There is no express or implied solicitation to buy or sell securities. The author(s) most likely will have positions in the stock, and may/will trade a portion or all of the position in the stock mentioned. Readers are advised to conduct their own due diligence prior to considering buying or selling any stock. All information should be considered for information purposes only. No stock exchange has approved or disapproved of the information
http://ih.advfn.com/p.php?pid=squote&symbol=VODG
Patent Info:
Vitro's cell immortalization patent allowed.
http://www.vitrodiag.com/6_12_02.html
Press Release: Vitro granted additional fertility drug patents.
http://www.vitrodiag.com/7_23_02.html
PAT. NO. 6,414,123
http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPT
PAT. NO 5,990,288
http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPT....
Vitro Awarded Cell Immortalization Patent By United States Patent Office
http://www.vitrodiag.com/10_01_02.html
PAT. NO 6,458,593
http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPT....
Recent patent Application that the company expects to gain a Notice of Allowance with an issued patent to follow
http://www.vitrodiag.com/US20060093586_1.pdf
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
June 23,2008 Wall Street Transcript interview...
http://www.twst.com/ceos.htm
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
2007 Interview with The Wall Street Transcript
http://www.vitrodiag.com/TWST_Interview.pdf
Business Summary:
Vitro Diagnostics, Inc. dba, Vitro BioPharma (OTC Bulletin Board; VODG) is a publicly traded biotechnology firm committed to “Harnessing the Power of Cells”. The Company has generated over 30 adult human stem cell lines that drive numerous commercial opportunities in medical research and treatment of disease. Our business plan focuses on initiatives to: 1) commercialize products for use in drug development & discovery, 2) develop and commercialize products to treat animal diabetes and 3) develop and commercialize a stem cell-based treatment of human diabetes. Our advanced stem cell technology has broad application to several high-value medical products. We intend to leverage our platform technology to build a Company based on high-margin products targeting a variety of diverse markets in medical research and treatment of previously untreatable or under-treated diseases.
Executive Summary:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=23705800
Informative Links regarding Pancreatic Islet Therapy:
http://www.fda.gov/cber/genetherapy/pancislet.htm
Shortage of Islets: major obstacle to widespread use of islet transplantation is the shortage of islets.
http://diabetes.niddk.nih.gov/dm/pubs/pancreaticislet/
Nearly 600 diabetes patients worldwide have now received islet transplants, and enough patients have been transplanted that long-term benefits can be documented.
http://www.jdrf.org/index.cfm?page_id=106304
Cell Therapies For Diabetes, Cancer May Be Coming Soon
http://www.medicalnewstoday.com/articles/101239.php
Pancreatic Stem Cell Transplantation
http://www.minervamedica.it/pdf/R41Y2004/R41Y2004N01A0025.pdf
Researchers are a step closer to a cure for type 1 diabetes after the successful transplantation of insulin-producing cells into eight patients.
Cell transplant dramatically changes diabetic's life
Published: Wednesday, 19-Mar-2008
http://www.news-medical.net/?id=36476
Six centres are receiving nearly £10m of government funding ( London) to offer transplants of insulin-producing cells.
http://www.worldhealth.net/p/cure-hope-over-diabetes-therapy.html
Transplants of own stem cells may let diabetics forgo insulin
http://www.baltimoresun.com/news/health/bal-te.diabetes11apr11,0,7517225.story?coll=bal-health-headlines
In Vivo Imaging of Immune Rejection in Transplanted Pancreatic Islets
http://diabetes.diabetesjournals.org/cgi/content/full/55/9/2419
SEC EDGAR Filings: Fully reporting for 12 years OS grew by only 8m shares since that time
http://knobias.10kwizard.com/files.php
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