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Once the overdue annual shareholders meeting is held, the old listing issues go away.
Two S-1/A filings after this post was made. Coincidence?
No assumption made on my part. Just putting it out there that IF an offering were to take place at the higher price point, the resulting dilution would not be as devastating as compared to the place we were at 24 hours ago.
Napkin math: If AMDA follows through with the offering, and the offering price was $3.50, that would amount to approximately 3.9 million shares of common and 3.9 million warrants (assuming all 12,500 units are sold). Add that to the current O/S and you get roughly 12 million shares outstanding fully diluted. Still a low market cap of less than 40 million dollars.
Yup!
“SALT LAKE CITY, UT, March 06, 2018 (GLOBE NEWSWIRE) -- Amedica Corporation (NASDAQ: AMDA), an innovative biomaterial company that develops and commercializes silicon nitride as a platform for biomedical applications, is pleased to announce the U.S. Food and Drug Administration (FDA) clearance of the Valeo C+CsC with Lumen Interbody Fusion Device. “
https://www.amedica.com/news-media/press-releases/detail/115/amedica-announces-fda-clearance-of-the-valeo-c-csc-with
Zimmer would still need to file a 13D with the SEC if they held more than a 5% interest in AMDA, correct?
From an M&A perspective: Celator Pharmaceuticals (CPXX) didn’t hide the fact that they were fast tracking the paying down (and off) of their debt during the several months prior to being acquired by Jazz Pharmaceuticals. This activity triggered rumblings of CPXX possibly being acquired. When it happened, it was a windfall for CPXX investors (almost a 2000% increase in stock price from where it had been languishing).
AMDA following a similar course...?
45 days after the end of the quarter...which would be May 15th.
I’d say...already half a million shares traded.
Quite an opening flurry of activity this morning.
Acerus (Toronto Stock Exchange, symbol TSX), the owners of the Natesto product, closed up 5.6% on the news this past Friday. They granted a distribution right to a Latin American distributor. Aytu is also a distributor of Natesto, but in the U.S. market. Unfortunately, this PR is not related to Aytu.
If you look at the time and sales between 3:39pm and 3:44pm today, you’ll note that there was a 100 share sell approximately every 15 seconds. Just like Xena was talking about previously...algorithms at work.
In the past, American companies that were being fraudulently shorted via the Berlin stock exchange usually cancelled their LEIs or let them expire to correct the situation.
However, it appears that the US was one of the top three global jurisdictions to allow LEIs to go into a “lapsed” state (based on YE2016 data). The US represented 27% of all registered LEI entities that lapsed, per the chart below:
https://www.gleif.org/thumbs/newsroom/blog/the-power-of-transparency-a-closer-look-at-lei-renewal-rates/2017-02-17-lapsed-lei-ratios-tracked-ac-2-750x588.png
LEIs are primarily used by American buy/sell side firms for conducting financial transactions with their European counterparts, as they identify a specific entity (such as a company registered on a trade exchange). If you don’t have an active LEI, your shares can’t be traded in the EU (European Union).
Looks like EDGX is the hammer.
Over half a million shares traded in the first 15 minutes this morning, with a high that hit 1.94. A little MM tease?
HepTcell phase 1 and NasoVax phase 2 data due in Q1 2018...which ends next Friday. Earnings reported on Thursday (3/29) during premarket. Next week is setting up to be an interesting one for AltImmune.
I’m very appreciative of all the DD provided on this board; it’s worked well in complementing my own DD as I’ve evaluated the size of my investment in Amedica relative to my overall portfolio. I’m intrigued by the fact that the company has not executed a capital raise to wipe out the debt and have extra capital on hand for R&D and other expenses. Instead, they’ve opted to make (or propose) different, smaller arrangements to address the debt at hand. The company has raised capital in the past, so it’s not like they don’t know how to do it.
This leads me to believe, IMO, that the company doesn’t plan to “go it alone” with their IP and product offering, and that something bigger is happening. Time will tell, of course, but I’m willing to take that chance.
I don’t believe those types of transactions fall under the category of “material events”, so a company does not have to disclose that information in an 8-K. They do have to disclose that information in a quarterly 10-Q or annual 10-K filing, however.
The notification has been posted on NASDAQ’s site since 1/2/2018 (when they notified AMDA)...
https://listingcenter.nasdaq.com/NonCompliantCompanyList.aspx
2/16 was the deadline for AMDA to submit a compliance plan. Regardless of what rule a company is not compliant with (bid price, annual meeting, etc.), the approach NASDAQ takes to reviewing the plan and rendering a decision is the same. The plan is scheduled for review by a delisting panel (review is generally held within four to six weeks), while the decision rendering process can take an additional two to four weeks.
NASDAQ will automatically delist a company seven days after the compliance deadline unless a plan has been submitted. Given this, we know that a plan was submitted (as the company is still trading on NASDAQ currently). So, it could be April (at the earliest) by the time the company receives a decision.
Can someone sticky today’s PR, please?
True...could be more since that number was posted on 2/15.
I wonder if there were any shorts in this stock? They might be on fire now!
BeiGene Announces Approval of REVLIMID® for Newly Diagnosed Multiple Myeloma in China
BEIJING, China, and CAMBRIDGE, Mass., Feb. 27, 2018 (GLOBE NEWSWIRE) -- BeiGene, Ltd. (NASDAQ:BGNE), a commercial-stage biopharmaceutical company focused on developing and commercializing innovative molecularly targeted and immuno-oncology drugs for the treatment of cancer, today announced that REVLIMID® (lenalidomide) has been approved by the China Food and Drug Administration (CFDA) for the treatment of multiple myeloma (MM) in combination with dexamethasone in adult patients with previously untreated MM who are not eligible for transplant. REVLIMID is an oral immunomodulatory drug that was first approved by the CFDA in China in 2013 for the treatment of MM in combination with dexamethasone, in adult patients who have received at least one prior therapy. It is currently marketed in China by BeiGene under an exclusive license from Celgene Corporation.
“REVLIMID is an important part of our commercial and development plans in China, where we are expanding our portfolio and commercial footprint. In China, where the incidence of multiple myeloma is on the rise due to an aging population and improved diagnosis, we are hopeful that newly diagnosed patients will have a meaningful long-term benefit from this approval,” commented John V. Oyler, Founder, Chief Executive Officer, and Chairman of BeiGene.
In a large randomized, three-arm, open-label Phase 3 trial (CC-5013-MM-020) conducted to compare the efficacy and safety of REVLIMID and low dose dexamethasone (Rd) to that of melphalan, prednisone and thalidomide (MPT) in patients with newly diagnosed multiple myeloma (NDMM) who were not eligible for transplant, continuous REVLIMID plus dexamethasone (Rd continuous) significantly improved median progression-free survival (PFS) compared to the MPT arm with a hazard ratio (HR) of 0.72 (95% Confidence Interval (CI): 0.61-0.85, p <0.0001) and a median PFS of 25.5 vs. 21.2 months. The median overall survival was 10.4 months longer with Rd continuous vs. MPT (58.9 vs. 48.5 months, HR of 0.75 (95% CI: 0.62-0.90)). Similarly, the response rate was also higher with Rd continuous compared with MPT (75.1% vs. 62.3%); with a complete response in 15.1% of Rd continuous arm patients vs. 9.3% in the MPT arm.
The most common grade 3/4 adverse events (occurring in ≥ 10% of patients in any subgroup) in the Rd continuous arm, Rd for 72 weeks (18 cycles; Rd18 arm) or MPT arm in the trial included neutropenia (28%, 27%, 45%, respectively), anemia (18%, 16%, 19%), thrombocytopenia (8%, 8%,11%) and pneumonia (11%, 11%, 8%).
About Multiple Myeloma
Multiple myeloma is an incurable and life-threatening blood cancer that is characterized by tumor proliferation and suppression of the immune system.i It can appear as both a tumor and/or an area of bone loss, and it affects the places where bone marrow is active in an adult: the hollow area within the bones of the spine, skull, pelvis, rib cage, and the areas around the shoulders and hips.ii MM is the second most commonly diagnosed blood cancer. According to the International Myeloma Foundation, there are an estimated 750,000 MM patients worldwide.iii
About REVLIMID
In China, REVLIMID is now approved in combination with dexamethasone for the treatment of adult NDMM patients who are not eligible for transplant. It received approval in China in 2013 for the treatment of MM in combination with dexamethasone, in adult patients who have received at least one prior therapy.
REVLIMID, in combination with dexamethasone, is approved in the United States, in Europe, in Japan and in around 25 other countries for the treatment of adult patients with previously untreated MM who are not eligible for transplant. REVLIMID is also approved in combination with dexamethasone for the treatment of MM patients who have received at least one prior therapy in nearly 70 countries, encompassing Europe, the Americas, the Middle East and Asia, and in combination with dexamethasone for the treatment of patients whose disease has progressed after one therapy in Australia and New Zealand.
REVLIMID is also approved in the United States, Canada, Switzerland, Australia, New Zealand and several Latin American countries, as well as Malaysia and Israel, for transfusion-dependent anemia due to low- or intermediate-1-risk myelodysplastic syndromes (MDS) associated with a deletion 5q cytogenetic abnormality with or without additional cytogenetic abnormalities and in Europe for the treatment of patients with transfusion-dependent anemia due to low- or intermediate-1-risk MDS associated with an isolated deletion 5q cytogenetic abnormality when other therapeutic options are insufficient or inadequate.
In addition, REVLIMID is approved in the United States and Europe for the treatment of patients with mantle cell lymphoma (MCL) whose disease has relapsed or progressed after two prior therapies, one of which included bortezomib. In Switzerland, REVLIMID is indicated for the treatment of patients with relapsed or refractory MCL after prior therapy that included bortezomib and chemotherapy/rituximab.
REVLIMID is not indicated and is not recommended for the treatment of patients with chronic lymphocytic leukemia (CLL) outside of controlled clinical trials.
Question: Why would a company go through all the trouble of exhaustive, expensive audits, NASDAQ hearings, etc. if the end game was bankruptcy? Doesn’t make much sense to me.
Great story there. The company went from a 70 million dollar market cap to a billion dollar market cap upon acquisition.
The company could have taken the route of a capital raise to address monies needed to pay off the Hercules loan. Of course, a capital raise would have resulted in some dilution. Instead, the company opted to pursue accredited investors to address the loan payoff. What benefit is the company realizing by taking this approach?
Also: There are many M&A instances in which debt is assumed by the acquiring company. I don’t think $2,000,000+ owed to a couple of accredited investors would be a deterrent to a company interested in acquiring a product that could enrich and enhance the acquiring company’s product line.
If only a “rudeness” option could be added to the TOS button. Making a comment about the company on this board shouldn’t be grounds for ill-mannered replies. What was the old adage...”if you can’t say something nice, don’t say anything at all”?
Here’s the NASDAQ announcement from this morning:
https://investors.amedica.com/press-releases/detail/112/amedica-receives-positive-nasdaq-listing-decision
Looking back at the previous stock split (which was effected on 1/25/2016), Amedica received a letter from NASDAQ on 2/8 confirming that they had regained compliance. Amedica PR’d receipt of that letter on the following day, 2/9.
The compliance issue this time around was both stock price related and filing related, which may be contributing to the delay. I would anticipate that a NASDAQ confirmation should be reported shortly, though.
Looks like trading has resumed per news update from Scotttade.
Using the most current figure provided in the Q2 10-Q, there are 36,264,881 shares outstanding as of 10/31. So, divide that number by 12. We’ll have a more current share count when the Q3 10-Q is filed next week.
Zimmer Biomet still has an “interim” president of spine, dental and thoracic...
http://www.zimmerbiomet.com/corporate/about-zimmer-biomet/leadership.html
Some of us aren’t here to trade, though. In addition to the two categories you cited, we would be in a third category known as “executed our own DD and are content to hold”. Or, put another way, “not willing to pay extra tax to the government by selling before a year is up”.
Looks like the NASDAQ meeting went well...
https://investors.amedica.com/press-releases/detail/107/amedica-receives-positive-nasdaq-listing-decision
SEC filings due by October 31st.
Big surge in buying on the ask over the last 15 minutes.
Exactly what I was thinking as well.
It's always good... to look at... all the facts available about a company... and not just one article...
Waiting on the 10Q filings from Q1 and Q2 of this year.