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Stock needs buyers, volume and more volume. You know about that $10 price target since you are an investor and follow DSCO. A whole lot more people are going to find out about it. You're getting high level exposure through free advertising.
Take a look at Keryx (KERX). Richards put out an article when it was at 3.00.
Below are messages by options traders:
$DSCO new promoter is coming to town, closed the rest of my $2.5 puts for no profit, better than expire worthless, had gain on the $5 puts
Mar. 22 at 1:44 PM from Twitter • Reply • Like • Flag
$DSCO Jeremy Richards new bio pick..he's the one that ignited $KERX
Mar. 22 at 12:45 PM from Twitter • Reply • Like • Flag
$DSCO with a huge support @ $2.80 flip the coin, took shares long with stop around $2.70, and don't forget new promoter in town :))
Mar. 23 at 9:42 AM from Twitter • Reply • Like • Flag
I placed an Alert if it breaks 2,845 let's see what $DSCO We will have a research report published this wkend RT @GantosJ @JeremyRichards9
Mar. 23 at 10:51 AM from Twitter • Reply • Like • Flag
Roth Capital already covers DSCO and raised target price to $10, but the stock continued to fall. Why do you think coverage by Richards will be any different?
Howard Hughes is dead and cannot help your SP. Jeremy Richards is very alive and can boost your SP. I guess that's a difference between them. Wait and see.
One more time: An article is coming out this weekend or Monday. It will be a catalyst. Shorts are now becoming buyers. Stock broke support at 2.80 today, but didn't drop more than a few cents. DSCO goes up next week. I'll be disappointed if it doesn't hit 3.50. Could be to 4.00 or higher in a week. If it does climb that fast, there may well be a quick, bearish reversal. Don't catch a falling knife and end up a bag holder. After the run-up, shorts will set-up shop again. It's all in the works. I have 10K shares loaded for a limit purchase at 2.85.
Agreed 2.80 is the platform BUT what and when does is go from there
I don't know Jeremy Richards from Howard Hughes, and couldn't care less :)
I do think that closure of the funding at $2.80 establishes a floor for the stock and eliminates downward pressure. I think there is a good chance to go up from here.
Well, I could be a smart ass and say you'll find out, but I won't. He writes on biopharma, and he's gonna pump DSCO. You're going up. :)
who's Jeremy Richards?
They'll be back in droves. Jeremy Richards is riding-in to your rescue. The shorts are nervous and scattering, taking their huge profits with them. Huge support at 2.80. I'm buying 10K shares.
Cheers!
what happened to the buyers?
~ Friday! $DSCO ~ Earnings posted, pending or coming soon! In Charts and Links Below!
~ $DSCO ~ Earnings expected on Friday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.
http://stockcharts.com/h-sc/ui?s=DSCO&p=D&b=3&g=0&id=p88783918276&a=237480049
http://stockcharts.com/h-sc/ui?s=DSCO&p=W&b=3&g=0&id=p54550695994
~ Google Finance: http://www.google.com/finance?q=DSCO
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=DSCO#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=DSCO+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=DSCO
Finviz: http://finviz.com/quote.ashx?t=DSCO
~ BusyStock: http://busystock.com/i.php?s=DSCO&v=2
<<<<<< http://www.earningswhispers.com/stocks.asp?symbol=DSCO >>>>>>
http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916
*If the earnings date is in error please ignore error. I do my best.
<<< $DSCO Links! >>> ~ MAC's Quick DD Links without the charts.
PennyStockTweets ~ http://www.pennystocktweets.com/stocks/profile/DSCO
OTC Markets Company Info ~ http://www.otcmarkets.com/stock/DSCO/company-info
OTC Markets Charts ~ http://www.otcmarkets.com/stock/DSCO/chart
OTC Markets Quote ~ http://www.otcmarkets.com/stock/DSCO/quote
OTC Markets News ~ http://www.otcmarkets.com/stock/DSCO/news
OTC Markets Financials ~ http://www.otcmarkets.com/stock/DSCO/financials
OTC Markets Short Sales ~ http://www.otcmarkets.com/stock/DSCO/short-sales
OTC Markets Insider Disclosure ~ http://www.otcmarkets.com/stock/DSCO/insider-transactions
OTC Markets Research Reports ~ http://www.otcmarkets.com/stock/DSCO/research
Google Finance Summary ~ http://www.google.com/finance?q=DSCO
Google Finance News ~ http://www.google.com/finance/company_news?q=DSCO
Google Finance Option chain ~ http://www.google.com/finance/option_chain?q=DSCO
Google Finance Financials ~ http://www.google.com/finance?q=DSCO&fstype=ii#
Google Finance Historical prices Daily ~ http://www.google.com/finance/historical?q=DSCO
Google Finance Historical prices Weekly ~ http://www.google.com/finance/historical?q=DSCO&histperiod=weekly#
Y! < Company >
Y! Profile ~ http://finance.yahoo.com/q/pr?s=DSCO+Profile
Y! Key Stat's ~ http://finance.yahoo.com/q/ks?s=DSCO+Key+Statistics
Y! Headlines ~ http://finance.yahoo.com/q/h?s=DSCO+Headlines
Y! Summary ~ http://finance.yahoo.com/q?s=DSCO
Y! Historical Prices ~ http://finance.yahoo.com/q/hp?s=DSCO+Historical+Prices
Y! Order Book ~ http://finance.yahoo.com/q/ecn?s=DSCO+Order+Book
Y! Message Boards ~ http://messages.finance.yahoo.com/mb/DSCO
Y! Market Pulse ~ http://finance.yahoo.com/marketpulse/DSCO
Y! Technical Analysis ~ http://finance.yahoo.com/q/ta?s=DSCO+Basic+Tech.+Analysis
Y! < Analyst Coverage >
Y! Analyst Opinion ~ http://finance.yahoo.com/q/ao?s=DSCO+Analyst+Opinion
Y! Analyst Estimates ~ http://finance.yahoo.com/q/ae?s=DSCO+Analyst+Estimates
Y! Research Reports ~ http://finance.yahoo.com/q/rr?s=DSCO+Research+Reports
Y! Star Analysts ~ http://finance.yahoo.com/q/sa?s=DSCO+Star+Analysts
Y! < Ownership >
Y! Major Holders ~ http://finance.yahoo.com/q/mh?s=DSCO+Major+Holders
Y! Insider Transactions ~ http://finance.yahoo.com/q/it?s=DSCO+Insider+Transactions
Y! Insider Roster ~ http://finance.yahoo.com/q/ir?s=DSCO+Insider+Roster
Y! < Financials >
Y! Income Statement ~ http://finance.yahoo.com/q/is?s=DSCO+Income+Statement&annual
Y! Balance Sheet ~ http://finance.yahoo.com/q/bs?s=DSCO+Balance+Sheet&annual
Y! Cash Flow ~ http://finance.yahoo.com/q/cf?s=DSCO+Cash+Flow&annual
FINVIZ ~ http://finviz.com/quote.ashx?t=DSCO&ty=c&ta=0&p=d
Investorshub Trades ~ http://ih.advfn.com/p.php?pid=trades&symbol=DSCO
Investorshub Board Search ~ http://investorshub.advfn.com/boards/getboards.aspx?searchstr=DSCO
Investorshub PostStream ~ http://investorshub.advfn.com/boards/poststream.aspx?ticker=DSCO
Investorshub Messages ~ http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=DSCO
Investorshub Videos ~ http://ih.advfn.com/p.php?pid=ihvse&ihvqu=DSCO
Investorshub News ~ http://ih.advfn.com/p.php?pid=news&btn=s_ok&ctl00%24sb3%24tbq1=Get+Quote&as_values_IH=&ctl00%24sb3%24stb1=Search+iHub&symbol=DSCO&s_ok=OK&from_month=3&from_day=15&from_year=2012&order=desc&selsrc%5B%5D=prnca&selsrc%5B%5D=prnus&selsrc%5B%5D=zacks&selsrc%5B%5D=money2&selsrc%5B%5D=djn&selsrc%5B%5D=bw&selsrc%5B%5D=globe&selsrc%5B%5D=edgar&selsrc%5B%5D=mwus&force=1&last_ts=1331855999&p_n=1&p_count=&p_ts=1331794260
CandlestickChart ~ http://www.candlestickchart.com/cgi/chart.cgi?symbol=DSCO&exchange=US
Barchart Quote ~ http://barchart.com/quotes/stocks/DSCO?
Barchart Detailed Quote ~ http://barchart.com/detailedquote/stocks/DSCO
Barchart Options Quotes ~ http://barchart.com/options/stocks/DSCO
Barchart Technical Chart ~ http://barchart.com/charts/stocks/DSCO&style=technical
Barchart Interactive Chart ~ http://barchart.com/charts/stocks/DSCO&style=interactive
Barchart Technical Analysis ~ http://barchart.com/technicals/stocks/DSCO
Barchart Trader's Cheat Sheet ~ http://barchart.com/cheatsheet.php?sym=DSCO
Barchart Barchart Opinion ~ http://barchart.com/opinions/stocks/DSCO
Barchart Snapshot Opinion ~ http://barchart.com/snapopinion/stocks/DSCO
Barchart News Headlines ~ http://barchart.com/news/stocks/DSCO
Barchart Profile ~ http://barchart.com/profile//DSCO
Barchart Key Statistics ~ http://barchart.com/profile.php?sym=DSCO&view=key_statistics
OTC: American Bulls ~ http://www.americanbulls.com/StockPage.asp?CompanyTicker=DSCO&MarketTicker=OTC&TYP=S
NASDAQ: American Bulls ~ http://www.americanbulls.com/StockPage.asp?CompanyTicker=DSCO&MarketTicker=NASD&TYP=S
NYSE: American Bulls ~ http://www.americanbulls.com/StockPage.asp?CompanyTicker=DSCO&MarketTicker=NYSE&Typ=S
Marketwatch Profile ~ http://www.marketwatch.com/investing/stock/DSCO/profile
Marketwatch Analyst Estimates ~ http://www.marketwatch.com/investing/stock/DSCO/analystestimates
Marketwatch Historical Quotes ~ http://www.marketwatch.com/investing/stock/DSCO/historical
Marketwatch Financials ~ http://www.marketwatch.com/investing/stock/DSCO/financials
Marketwatch Overview ~ http://www.marketwatch.com/investing/stock/DSCO
Marketwatch SEC Filings ~ http://www.marketwatch.com/investing/stock/DSCO/secfilings
Marketwatch Picks ~ http://www.marketwatch.com/investing/stock/DSCO/picks
Marketwatch Hulbert ~ http://www.marketwatch.com/investing/stock/DSCO/hulbert
Marketwatch Insider Actions ~ http://www.marketwatch.com/investing/stock/DSCO/insideractions
Marketwatch Options ~ http://www.marketwatch.com/investing/stock/DSCO/options
Marketwatch Charts ~ http://www.marketwatch.com/investing/stock/DSCO/charts
Marketwatch News ~ http://bigcharts.marketwatch.com/news/symbolsearch/symbolnews.asp?news=markadv&symb=DSCO&sid=1795093&framed=False
The Lion ~ http://thelion.com/bin/aio_msg.cgi?cmd=search&msg=&si=1&tw=1&tt=1&rb=1&ih=1&fo=1&iv=1&yf=1&sa=1&fb=1&gg=1&symbol=DSCO
Search NYSE ~ http://www.nyse.com/about/listed/lcddata.html?ticker=DSCO
StockTA ~ http://www.stockta.com/cgi-bin/analysis.pl?symb=DSCO&num1=567&cobrand=&mode=stock
StockHouse ~ http://www.stockhouse.com/financialtools/sn_overview.aspx?qm_symbol=DSCO
StockHouse Delayed LII ~ http://www.stockhouse.com/financialtools/sn_level2.aspx?qm_page=46140&qm_symbol=DSCO
AlphaTrade ~ http://tools.alphatrade.com/index.php?t1=mc_quote_module&t2=mc_quote_module2&t3=historical&template=historical2html&sym=DSCO&client_id=2740&a_width=680&a_height=1000&language=english&showVol=1&chtype=8
Reuters ~ http://www.reuters.com/finance/stocks/companyOfficers?symbol=DSCO.PK&WTmodLOC=C4-Officers-5
StockWatch ~ http://www.stockwatch.com/Quote/Detail.aspx?symbol=DSCO®ion=U
Search NASDAQ ~ http://www.nasdaq.com/symbol/DSCO
NASDAQ Divy History ~ http://www.nasdaq.com/symbol/DSCO/dividend-history
NASDAQ Short Interest ~ http://www.nasdaq.com/symbol/DSCO/short-interest
NASDAQ Institutional Ownership ~ http://www.nasdaq.com/symbol/DSCO/institutional-holdings
NASDAQ FlashQuotes ~ http://www.nasdaq.com/aspx/flashquotes.aspx?symbol=DSCO&selected=DSCO
NASDAQ InfoQuotes ~ http://www.nasdaq.com/aspx/infoquotes.aspx?symbol=DSCO&selected=DSCO
NASDAQ After Hours Quote ~ http://www.nasdaq.com/symbol/DSCO/after-hours
NASDAQ Pre-Market Quote ~ http://www.nasdaq.com/symbol/DSCO/premarket
NASDAQ Historical Quote ~ http://www.nasdaq.com/symbol/DSCO/historical
NASDAQ Option Chain ~ http://www.nasdaq.com/symbol/DSCO/option-chain
NASDAQ Company Headlines ~ http://www.nasdaq.com/symbol/DSCO/news-headlines
NASDAQ Press Releases ~ http://www.nasdaq.com/symbol/DSCO/news-headlines
NASDAQ Sentiment ~ http://www.nasdaq.com/symbol/DSCO/sentiment
NASDAQ Analyst Summary ~ http://www.nasdaq.com/symbol/DSCO/analyst-research
NASDAQ Guru Analysis~ http://www.nasdaq.com/symbol/DSCO/guru-analysis
NASDAQ Stock Report ~ http://www.nasdaq.com/symbol/DSCO/stock-report
NASDAQ Competitors ~ http://www.nasdaq.com/symbol/DSCO/competitors
NASDAQ Stock Consultant ~ http://www.nasdaq.com/symbol/DSCO/stock-consultant
NASDAQ Stock Comparison ~ http://www.nasdaq.com/symbol/DSCO/stock-comparison
NASDAQ Call Transcripts ~ http://www.nasdaq.com/symbol/DSCO/call-transcripts
NASDAQ Annual Reports ~ http://www.nasdaq.com/aspx/annualreport.aspx?symbol=DSCO&selected=DSCO
NASDAQ Financials ~ http://www.nasdaq.com/symbol/DSCO/financials
NASDAQ Revenue & Earnings Per Share (EPS) ~ http://www.nasdaq.com/symbol/DSCO/revenue-eps
NASDAQ SEC Filings ~ http://www.nasdaq.com/symbol/DSCO/sec-filings
NASDAQ Ownership Summary ~ http://www.nasdaq.com/symbol/DSCO/ownership-summary
NASDAQ Institutional Ownership ~ http://www.nasdaq.com/symbol/DSCO/institutional-holdings
NASDAQ (SEC Form 4) ~
--------- All Trades ~ http://www.nasdaq.com/symbol/DSCO/insider-trades
--------- Buys ~ http://www.nasdaq.com/symbol/DSCO/insider-trades/buys
--------- Sells ~ http://www.nasdaq.com/symbol/DSCO/insider-trades/sells
The Motley Fool ~ http://caps.fool.com/Ticker/DSCO.aspx
The Motley Fool Earnings/Growth ~ http://caps.fool.com/Ticker/DSCO/EarningsGrowthRates.aspx?source=itxsittst0000001
The Motley Fool Ratios ~ http://caps.fool.com/Ticker/DSCO/Ratios.aspx?source=itxsittst0000001
The Motley Fool Stats ~ http://caps.fool.com/Ticker/DSCO/Stats.aspx?source=icasittab0000006
The Motley Fool Historical ~ http://caps.fool.com/Ticker/DSCO/Historical.aspx?source=icasittab0000004
The Motley Fool Scorecard ~ http://caps.fool.com/Ticker/DSCO/Scorecard.aspx?source=icasittab0000003
The Motley Fool Statements ~ http://caps.fool.com/Ticker/DSCO/Statements.aspx?source=icasittab0000009
MSN Money ~ http://investing.money.msn.com/investments/stock-ratings?symbol=DSCO
YCharts ~ http://ycharts.com/companies/DSCO
YCharts Performance ~ http://ycharts.com/companies/DSCO/performance
YCharts Dashboard ~ http://ycharts.com/companies/DSCO/dashboard
InsideStocks Opinion ~ http://www.insidestocks.com/texpert.asp?sym=DSCO&code=XDAILY
InsideStocks Profile ~ http://www.insidestocks.com/profile.asp?sym=DSCO&code=XDAILY
InsideStocks Quote ~ http://www.insidestocks.com/quote.asp?sym=DSCO&code=XDAILY
InsideStocks Projection ~ http://charts3.barchart.com/procal.asp?sym=DSCO
Zacks Quote ~ http://www.zacks.com/stock/quote/DSCO
Zacks Estimates ~ http://www.zacks.com/research/report.php?type=estimates&t=DSCO
Zacks Company Reports ~ http://www.zacks.com/research/report.php?type=report&t=DSCO
Knobias ~ http://knobias.10kwizard.com/files.php?sym=DSCO
StockScores ~ http://www.stockscores.com/quickreport.asp?ticker=DSCO
Trade-Ideas ~ http://www.trade-ideas.com/StockInfo/DSCO/HOT_TOPIC.html
Morningstar ~ http://performance.morningstar.com/stock/performance-return.action?region=USA&t=DSCO&culture=en-US
Morningstar Shareholders ~ http://investors.morningstar.com/ownership/shareholders-overview.html?t=DSCO®ion=USA&culture=en-us
Morningstar Transcripts~ http://www.morningstar.com/earnings/NoTranscript.aspx?t=DSCO®ion=USA
Morningstar Key Ratios ~ http://financials.morningstar.com/ratios/r.html?t=DSCO®ion=USA&culture=en-US
Morningstar Executive Compensation ~ http://insiders.morningstar.com/trading/executive-compensation.action?t=DSCO®ion=USA&culture=en-us
Morningstar Valuation ~ http://financials.morningstar.com/valuation/price-ratio.html?t=DSCO®ion=USA&culture=en-us
CCBN (Thompson Reuters) ~ http://ccbn.aol.com/company.asp?client=aol&ticker=DSCO
TradingMarkets ~ http://pr.tradingmarkets.com/?lid=leftPRbox&sym=DSCO
OTCBB ~ http://www.otcbb.com/asp/SiteSearch.asp?Criteria=DSCO&searcharea=e&image1.x=0&image1.y=0
Insidercow ~ http://www.insidercow.com/history/company.jsp?company=DSCO&B1=Search%21
Forbes News ~ http://search.forbes.com/search/find?tab=searchtabgeneraldark&MT=DSCO
Forbes Press Releases ~ http://search.forbes.com/search/find?&start=1&tab=searchtabgeneraldark&MT=DSCO&pub=businesswire,prnewswire&searchResults=pressRelease&tag=pr&premium=on
Forbes Web ~ http://search.forbes.com/search/web?MT=UNGS&start=1&max=10&searchResults=web&tag=web&sort=null
YouTube Symbol Search ~ http://www.youtube.com/results?search_query=DSCO
Buy-Ins ~ http://www.buyins.net/tools/symbol_stats.php?sym=DSCO
Quotemedia ~ http://www.quotemedia.com/results.php?qm_page=47556&qm_symbol=DSCO
Earnings Whispers ~ http://www.earningswhispers.com/stocks.asp?symbol=DSCO
Bloomberg Snapshot ~ http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=DSCO
Bloomberg People ~ http://investing.businessweek.com/research/stocks/people/people.asp?ticker=DSCO
Financial Times ~ http://markets.ft.com/Research/Markets/Tearsheets/Summary?s=DSCO
Investorpoint ~ http://www.investorpoint.com/ enter "DSCO" and click search.
Hotstocked ~ http://www.hotstocked.com/ enter "DSCO" and click search.
Raging Bull ~ http://ragingbull.quote.com/mboard/boards.cgi?board=DSCO
DTCC (PENSON/TDA) Check - (otc and pinks) - Note ~ I did not check for this chart blast. However, I try and help you to do so with the following links.
IHUB DTCC BOARD SEARCH #1 http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=18682&srchyr=2011&SearchStr=DSCO
IHUB DTCC BOARD SEARCH #2: http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=14482&srchyr=2011&SearchStr=DSCO
Check those searches for recent DSCO mentions. If DSCO is showing up on older posts and not on new posts found in link below, The DTCC issues may have been addressed and fixed. Always call the broker if your security turns up on any DTCC/PENSON list.
http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=18682&srchyr=2011&SearchStr=Complete+list
For a complete list see the pinned threads at the top here ---> http://tinyurl.com/TWO-OLD-FARTS
MACDlinks
After Hours High Hit: 2.98 +.18 from todays close of 2.80
Buyers will be moving the Ask up tomorrow
After Hours: 2.88 +.08 (+2.86%) 7:59PM EDT
Discovery Labs Announces Completion of $45.0 Million Public Offering
Discovery Laboratories, Inc. today announced that it has completed its previously announced public offering to sell an aggregate of 16,071,429 shares of its common stock under Discovery Labs' previously filed registration statement that was declared effective by the Securities and Exchange Commission on June 21, 2011.
The offering remains subject to the underwriters' 30-day option to purchase up to an additional 2,410,714 shares of common stock to cover over-allotments, if any. Each share was issued and sold at a public offering price of $2.80 per share.
As a result of the offering, Discovery Labs has received net proceeds of approximately $42.1 million, after deducting underwriting discount and other estimated fees and expenses related to the offering. The net proceeds will be used to meet working capital requirements to execute Discovery Labs' business plans, including, without limitation, to support the commercial introduction in 2012 of SURFAXIN® and AFECTAIR®, and to advance its SURFAXIN LS™ and AEROSURF® development programs.
Lazard Capital Markets LLC acted as the sole book-running manager for the offering, Stifel Nicolaus Wesiel acted as co-lead manager, and ROTH Capital Partners LLC acted as co-manager.
Agreed but why would they? This will be in a holding pattern until the released shares are bought up IMO
Is the financing completed? I would like to see some positive
movement. A news release would be good, CC coming soon should be
interesting! Hopefully not some humdrum from the CEO!
Thank you deepman very good incite. And the wait begins...
That is called STRONG ARM ROBBERY of investors
Cash Infusions Provide Needed Financial Strength For Discovery Laboratories
http://seekingalpha.com/article/443621-cash-infusions-provide-needed-financial-strength-for-discovery-laboratories?source=yahoo
Report Summary
With a number of cash infusions from a public offering, an ATM drawdown and warrant exercises, Discovery Laboratories (DSCO) has built a strong cash position. There remain a number of possible scenarios for how much more cash will come into the company depending on the exercise of the Green Shoe associated with the public offering; exercise of additional outstanding warrants and options; and a probable year end partnering deal. In my most probable outcome, I project that DSCO will end 2012 with $67 million of cash and 2013 with $41 million. The number of fully diluted shares would approximate 55 million.
Investment Opinion
Discovery Laboratories has two products approved for U.S. marketing with Surfaxin and Affectair and controls worldwide rights to these products with the exception of Surfaxin LS and Aerosurf in Spain and Portugal. Surfaxin LS is a meaningful improvement over Surfaxin and Aerosurf is conceptually one of the most intriguing biotechnology products in development with worldwide sales potential of $750 million to $1 billion. The pipeline potential is bright.
These cash infusions have given DSCO the financial strength needed to control its destiny. It has the necessary financial resources to commercialize its products in the US and carefully choose a partner for most of the remainder of the world. It also has sufficient resources to complete development of Surfaxin LS and also complete a phase IIb proof of concept trial for Aerosurf by 2014. The phase IIb trial, if successful, would be a major catalyst for the stock. DSCO is no longer a cash strapped forced to serially finance at low valuations as has been the case for the last several years. I have built into my thinking an equity offering in 2014 based on the assumption that DSCO may need the money to finance phase III development of Aerosurf, but it is possible that the company will not need to do another public offering.
The market capitalization of the company based on 55.1 million fully diluted shares is $155 million. In my initiation report, I projected that Surfaxin and Surfaxin LS could reach sales of $54.7 million in 2017 and Affectair could reach $43.3 million which would result in 2017 corporate sales of $98.0 million. Based on a study of comparable companies, I think that in 2016, the market might value these sales at a 4 to 6 multiple resulting in a market capitalization of $392 million to $588 million.
In line with the thinking just presented, I am assuming 10 million more shares are issued sometime in 2014 to 2016 period which would bring the share count to 65.1 million shares. Dividing my 2016 market capitalization estimates by 65.1 million shares results in a 2016 price target of $6.00 to $9.00. This is without attributing any value to Aerosurf. If the phase IIb trial is successful for Aerosurf, it would significantly enhance the value of the stock
There is a frenzy of acquisition activity going on in biotechnology and with its approved products, unpartnered worldwide rights to these products, strong cash position and the promise of Aerosurf; DSCO has almost certainly come up on the radar screens of many acquisition minded companies. Importantly, there is a scarcity value to its market position. It is the only company that I am aware of with focus and new product potential in neonatology. In most other product categories there are several competitors. In oncology, for example, there are over 100 small biotechnology companies competing. I think that DSCO's proprietary position in its product niche would enhance its value to a potential acquirer.
This Was a Painful, But Necessary Offering
Discovery Laboratories completed a public offering of 16,071,429 shares at a price of $2.80. The market exacted a very significant price discount from the company. I had been expecting an equity offering of 6 million shares at $4.00 per share. This discount was no doubt due to DSCO's long history of disappointing investors stemming from four Complete Response Letters from the FDA issued over a span of seven years. This put the company in financial stress and forced them to do serial financings at ever lower valuations. As a result, shareholders have suffered enormous dilution over the years and management has been blamed and labeled incompetent and uncaring of shareholders. Despite the approval of Surfaxin and Affectair, the market did not forgive and exacted a painful discount from Discovery in order to complete this offering.
The safety and efficacy of Surfaxin was never an issue for the FDA. Instead, it was a series of manufacturing issues and most of all validation of a quality assurance test called frBAT that led to an eight year delay in approval. It can be argued that indecision and lack of clarity on the part of the FDA about the data it required for approval was a major component of the delay. It looked from my standpoint that the FDA unpredictably shifted positions more than once. After the FDA squarely addressed the issue and gave "clear" guidance on what it would require to approve Surfaxin, the matter was completed and led to an approval of Surfaxin in two years.
I am not trying to say that the FDA was the only reason for the delay. Early in the process, DSCO management was too anxious to get the product to market and did not have a strong relationship with FDA. There was a failure of communication on both sides and it is unfair to put all of the blame on DSCO. Investors should also give credit to the perseverance and skill of current management to finally resolve the situation and gain Surfaxin's approval.
Let me take a look at the recent financing. I know that some investors will say that an incompetent management has done another disastrous financing that again has again substantially diluted shareholders. Here is how I see the situation. There appears to me to have been three potential options for the company after the approval of Surfaxin. The company could raise cash; sell the company or partner Surfaxin and Affectair. Regardless of the option chosen, DSCO had to move swiftly. At the end of the December, the company had $10 million of cash and was burning $5 million of cash per quarter. This was a desperate situation in which the company was rapidly running out of cash. Doing nothing was not an option.
Partnering and selling the company are long and uncertain processes and could have taken until late in the year to consummate. In addition, with its weak financial position the company would have had limited bargaining power and terms would likely have been harsh. I believe that the decision to aggressively raise cash was the best option for the company and its shareholders.
The Value of Not Partnering
Having forgone the partnering option, with the exception of having partnered Surfaxin LS and Aerosurf in Spain and Portugal, DSCO now controls worldwide rights to Surfaxin, Surfaxin LS and Aerosurf and worldwide rights to Affectair. As I will discuss shortly, they now are in the position of choosing whether to commercialize Surfaxin, Surfaxin LS, Affectair and Aerosurf on their own, partner the products in some or all regions of the world or sell the company outright. Was the dilution caused by this offering more than justified by the value to shareholders of a strengthened balance sheet and resultant strategic flexibility? I think so.
I have always believed, in sharp contrast to the accepted belief on Wall Street, that companies which raise money through equity offerings and retain rights to their products create more value for shareholders than those that partner. I would much rather issue a large number of shares and retain total control over the products than partner and cede full or partial control to another company and receive only half or less of the future economics.
Many small companies are forced to partner because the cost of commercialization and cost of developing the pipeline is just too much. DSCO is in the fortunate position that Surfaxin, Surfaxin LS and Aerosurf address a small and focused hospital-based neonatology market. The company estimates that it can launch Surfaxin at a cost of $12 to $13 million and that this infrastructure can then support the potential future launches of Surfaxin LS and Aerosurf in the US. It makes sense for DSCO to build a U.S. business around these products and partner them abroad. In addition, the company estimates that the cost of developing Surfaxin LS for marketing and doing a phase II proof of concept trial for Aerosurf is only $15 million or so. By my calculations, DSCO has raised enough cash to accomplish all of these objectives.
Calculating the Number of Fully Diluted Shares Outstanding
I want to look at two issues in some detail; the number of fully diluted shares that are now outstanding and the current and potential cash position of the company. Prior to the equity offering, there were 27.16 million shares outstanding as of March 9, 2012. This included the earlier exercise of 2.19 million warrants that expire in May 2012 and 0.05 million shares in connection with a drawdown of the ATM. The share offering resulted in the issuance of 16.07 million shares bringing the share count to 43.23 million shares.
There is the potential for more shares to be issued. The underwriter has the option to exercise a Green Shoe that could result in the issuance of 2.41 million additional shares at $2.80. There remain 2.81 million warrants that are exercisable at $2.94 and expire in May 2012. There are 4.96 million warrants that are exercisable at $3.24 that expire before May 2016. There are also 1.70 million options that expire at various times at an estimated price of $1.70. If all of these events occur, it could cause an additional 11.88 million shares to be issued bringing the fully diluted share count to about 55.11 million shares.
Calculation of Fully Diluted EPS
Shares Currently Outstanding
Shares outstanding at March 9, 2012 27,158,938
Shares offered 16,071,429
Sub-total 43,230,367
Shares That Could Be Issued in Short Term
Green shoe 2,410,714
Warrants exercisable at $2.94, expiring in May 2012 2,814,000
Total 5,224,714
Other Shares That Could Be Issued Before 2016
Warrants exercisable at $3.24 in May 2016 4,955,000
Options potentially exercisable 1,700,000
Total 6,655,000
Fully diluted shares, potentially 55,110,081
Looking at the Cash Position
Let's now look at the cash that has been brought into the company in addition to the $10.20 million which the company had at the end of 2011. The equity offering brought in $42.5 million. The exercise of the 2.86 million May 2012 warrants brought in $6.9 million and the ATM drawdown another $1.5 million. This amounts to $50.9 million.
There is a strong probability that the Green shoe will be exercised and this would bring in $6.7 million and also that the 2.8 million warrants exercisable at $2.94 could be exercised bringing in another $8.3 million. This would add $15 million of cash increasing the amount of cash raised to $65.9 million.
The company has actively guided investors to expect a partnering deal for Surfaxin LS and Aerosurf outside of the U.S. I estimate that this could bring in $25 to $50 million. This raises the potential cash infusion in 2012 to $90.9 million to $115.9 million.
There remain 4.96 million warrants exercisable in May 2016 at $3.24 that could raise $16.0 million and the 1.70 million options that could bring in $3.4 million. These are not as likely to be exercised in 2012, but if they were, it would result in $19.4 million. This raises the potential cash infusion in 2012 to $110.3 to $135.3 million.
The burn rate for DSCO in 1Q, 2012 is estimated to be $5.0 million and with the preparation for and launch of Surfaxin, I am estimating that the burn rate for the last three quarters of 2012 will be $24 million bring the full year cash burn to $29 million.
I have thrown a lot of numbers at the reader and there are a number of potential outcomes. Let me try to present the most negative, most positive and most probable cash position outcomes and the dilution that result.
In the most probable case I project that DSCO could end 2013 with $41 million of cash and 55.1 million fully diluted shares. This assumes that the Green Shoe and the remaining May 2012 warrants are exercised. I also assume a year end partnering deal that brings in $25.0 million for Surfaxin LS and Aerosurf in foreign markets. I have estimated the yearly cash burns for 2012 and 2013 and the resultant year end cash positions along with the number of fully diluted shares. The results are shown below:
Most Probable Yearend Cash Positions for 2012 and 2013
Cash on hand December 31, 2011 $10.2
Cash from issuance of 16.1 million shares $42.5
Already exercised May 2012 warrants $6.4
Money raised through ATM $1.5
Sub-total $60.6
Money that could be coming in shortly
Exercise of Green Shoe of 2,4 million shares $6.7
Exercise of 2.8 million May 2012 warrants $6.4
Sub-total $13.1
Yearend partnering deal $25.0
Projected 2012 cash burn ($32.1)
Year End 2012 cash position $66.6
Fully diluted shares that result 55.1
Projected 2013 cash burn ($26.0)
Year End 2013 cash position $40.6
Fully diluted shares that result 55.1
I have also created a most positive cash position scenario in which the May 2016 warrants are exercised, the options are exercised and the partnering deal comes in at $50.0 million. The results are shown below:
Most Positive Yearend Cash Positions for 2012 and 2013
Cash on hand December 31, 2011 $10.2
Cash from issuance of 16.1 million shares $42.5
Already exercised May 2012 warrants $6.4
Money raised through ATM $1.5
Sub-total $60.6
Money that could be coming in shortly
Exercise of Green Shoe of 2,4 million shares $6.7
Exercise of 2.8 million May 2012 warrants $6.4
Sub-total $13.1
Yearend partnering deal $50.0
Additional, but less likely cash to come in
Exercise of 4.96 million May 2016 warrants $16.1
Exercise of 1.7 million options at $1.70 $2.9
Sub-total $19.0
Projected 2012 cash burn ($32.1)
Year End 2012 cash position $142.7
Fully diluted shares that result 55.1
Projected 2013 cash burn ($26.0)
Year End 2013 cash position $116.7
Fully diluted shares that result 55.1
Finally, I have created a most negative scenario in which there is no partnering deal, no exercise of the Green Shoe and no further exercise of warrants and options. The results are as follows:
Most Negative Potential Year End Cash Positions for 2012 and 2013
Cash on hand December 31, 2011 $10.2
Cash from issuance of 16.1 million shares $42.5
Already exercised May 2012 warrants $6.4
Money raised through ATM $1.5
Total $60.6
Projected 2012 cash burn($32.1)
Year End 2012 cash position $28.5
Fully diluted shares that result 49.9
Projected 2013 cash burn($26.0)
Year End 2012 cash Position $2.5
Fully diluted shares that result 49.9
i saw your 1.5-1.60 comment very often.. gave me the idea that you're not happy. lol
i called $2.60 the night before...
Well... been on the train for 2 years.. waiting for that moment..
i sometimes, i forget about dsco and play with other stocks... like it didnt own dsco.
management is full of tricks.. they are making money for themselves.
we are the puppets.. they control us and decide on our fates. LOL
Yea I said it was 20 percent of the night before and that's what it opened 2.80, where did you want it to go. Until they sell all the shares it's a log clogging a river. Nothings moving!!! I am a long. Not sure how many years you have been involved in DSCO. But let me tell you about management they lie lie lie. Everything they said in the cc they did the opposite. To also say for a investors stand point if it took them 5 tries for fda approval how can you have faith in their marketing and advertising? I'm stuck I average downed in the summer in the 1.60 to 1.70 and sold some at high 4's but I can never get even here. Not after what they've done to shareholders. Just be careful.
YOU SAID THAT ABOUT THE PUBLIC OFFERING.
Get your DSCO shares here for 1.50 and a bag of peanuts all summer long. No since buying now boys. No volume, no announcement of finalizing the offering, could still be selling them. If so, gonna be a massive short attack. Since this is the worst sector to be in the summer. Then us longs will have the third and fourth quarter to look forward to, which will be a cc call with a bunch of obnoxious idiots. Got love DSCO
Its bottomed at these levels. It needs some legs and see if it can run(some positive news this week will help)
Staying above $2.50 this week will be bullish imo.
DSCO- Earnings expected Friday 03/23/2012
Yes it does. "If earnings release is positive, the pps shoots back up quickly."
DSCO will be cash rich until 2014. $1.46 cash per share. Over $60 million cash. I feel Discovery Labs intention is to launch the 2 FDA approved products themselves, if there is a buyout/partnership interests then it should be mentioned on their earnings call coming up. ***If earnings release is positive, the pps shoots back up quickly.
1.75 for sure mark it
I think this drug is worth a lot. The company has given guidance on what it may bring in. Do a little more research. The indication for premature baby's is a small market. The larger market will be for children and adults! So I still think this is a buyout target. I am ahead either way. I sold 2/3 of my position before approval date. The shares I hold are free!!
I can't remember a secondary offering that was not completed in one day in a long time. That shows you what kind of enthusiasm is on this stock. NONE. They couldn't even sell all the shares from the offering in the first day and be able to PR it after hours. Can't remember one secondary this year that didn't sell all on the first day. Yea the price might be 2.80 now, but wait a month it will be 2.00. It's a waiting game for the bottom. There's a chance that shorts bought the offering re-shorting at 2.80. I highly doubt they covered at that mark. Still no guidance on what the drug is worth from the company. Do they know? This is a joke. But it will be good for a bottom feeder. Man June and July will be ugly here. Just pull out the last 5 year chart and see the decline in summer months.
You better adjust your math bud.
Discovery expects net proceeds of $42.1 million from the public stock offering of 66.1 million shares of common stock - we'll see how all this affects the PPS.
I hope Italian Sausage Laboratories Inc. sink under 2.50s to load up lol This pig got shorters turning to longs to sell on the up movement.
I did not dump the 3.49s That block was purchased with money I made from shorting DSCO so FREE shares. I am just watching to see how far the Board of Scam Diretors will play this for their insider friends and jump and average.
Someone needs to update the Ibox. It still says "the big day is coming!!!!!" It should say "the big dick is coming!!!!!!"
squeeze it for awhile so the muppets buy the shares then afterwards short the everliving crap out of it till 1.75 because god forbid the price actually goes up they are hedged with a 2 million plus shares option @ 2.80. They make millions either way. Sound accurate?
I'm surprised no form 4's haven't been sighted already.
No insider selling yet?
One of my posts from March 5th
ddls
Share
Monday, March 05, 2012 11:53:25 AM
Re: smitter post# 1461
Post # of 2389
I think I'll just observe what happens.
I'm listening to the q3 call now. You can expect dilution either
way this goes. They are probable prepping a filing as I write.
Yeah....that kind of is dumb thinking on their part...
"Oh, we're going to let our PPS go down the crapper, not handle anything well/ properly....THEN....we're going to make demands at the buyout negotiation table"....
Uummm...no That's NOT how ya do it...
$45M in cash will go a long way in marketing and sales. I still think they're trying to strenghten their hand for any buyout negotiations. Basically a "pay the price we want or we'll go it alone" strategy.
chop chop. chop it up, chop now.
Hey Anti!, did you get to unload your 3.49 before the big drop?
hehehe!
See?? i told you it's not gonna fall to the $1 range... thats way too crazy!
i was closer with the $2 range and i said it'll climb back a bit... well heading towards $3...
I kinda see their pattern in a way...
Found this on a message board on IV;
I saw the quote below on a message board. I guess the "Chinese Wall" between the Muggers and the Rapists is just an urban myth. The muppets don't have a prayer.
==================================
"DSCO Yesterday Roth Captital raised their target to $10, today they are one of the firms selling the secondary. Is there one p or two in muppet? "
DSCO limbo lol
You have to be nuts here to buy or sell. Cause your not sure where the volume of the offering is going. Bats and Batty have been up there a lot and there shorts. Whether covering or their re-shorting who knows. I know most think that the shorts are covering into the offering, but I've seen 2 or 3 the last couple of weeks where the short increased after the offering. In fact one going from 5% to 47% in one case. Not saying that's happening here. Would rather wait the days to it comes out and then try to figure a good entry point to throw more money in the street here. But we should see the bottom here or within ten days. If DSCO could run things right from here on out would be a great entry point here for a couple weeks. THAT'S IF! But the fact it's rising into the offering is a good sign, either there's interest, or then again it's shorts and where screwed. But from here on out, or with in days I'm saying DSCO goes on a nice run up. Just how low can we go!!!!!!!!!!!!!!!!!!!!!!!!
Im thinking they will move this up to short it, what about you? I think I may sell @ 3.00 and go short
I'm beginning to think they should get Capetola back.
Talk about snatching defeat from the jaws of victory. Truly the keystone Kops of the biotech world.
Would not go there yet, earnings are next week and if it comes in lower than the expected level this share sale will be a mute point imo.
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Discovery Laboratories, Inc., a biotechnology company, engages in developing surfactant therapies to treat respiratory disorders and diseases based on its KL4 surfactant and capillary aerosol-generating technologies. Its development stage products include Surfaxin, a synthetic, peptide-containing surfactant in phase III clinical trial for the prevention of respiratory distress syndrome in premature infants; Surfaxin LS, a Phase III trial product to improve ease of use for healthcare practitioners; and Aerosurf, an aerosolized KL4 surfactant that has completed first pilot Phase II clinical trial for the treatment of respiratory distress syndrome in premature infants.
The company has a license agreement with Philip Morris USA Inc. to use its capillary aerosolization technology for use with pulmonary surfactants for the respiratory diseases and conditions; and a strategic alliance agreement with Laboratorios del Dr. Esteve, S.A. for the development, marketing, and sale of a portfolio of potential KL4 surfactant products in Andorra, Greece, Italy, Portugal, and Spain.
Discovery Laboratories, Inc. was founded in 1992 and is headquartered in Warrington, Pennsylvania.
• | Surfaxin® (lucinactant) for the prevention of respiratory distress syndrome (RDS) in premature infants: The Company is conducting a comprehensive preclinical program to validate its optimized biological activity test (BAT), a key remaining issue that must be addressed to potentially gain U.S. Food and Drug Administration (FDA) marketing approval for Surfaxin in the United States. The Company has had several interactions with the FDA intended to ensure that the comprehensive preclinical program would ultimately satisfy the FDA. In January 2011, the Company announced that the FDA had provided guidance to increase the sample size of a specific data set by testing additional Surfaxin batches. To comply with the FDA's suggestion, the Company has successfully manufactured eight Surfaxin batches and presently plans to manufacture two additional Surfaxin batches for use in the comprehensive preclinical program. The Company presently plans to complete all related analytical testing and concordance studies, and be in a position to file a Surfaxin Complete Response in the third quarter of 2011. |
• | Surfaxin LSTM (lyophilized lucinactant) for neonatal RDS : The Company continues to advance this program. Its plans for 2011 include establishing a commercial-scale manufacturing capability at a cGMP-compliant contract manufacturer with expertise in lyophilized formulations and seeking regulatory guidance from the FDA and the European Medicines Agency (EMA) for the planned clinical development program. |
• | Aerosolization Technology : Recently, at the 2011 Pediatric Academic Societies Annual Meeting (PAS), new data was presented including: (i) a collaborative study indicating that aerosolized KL4 surfactant significantly improved lung function and survival when treating Acute Lung Injury in a well established preclinical model of this severe respiratory condition, (ii) a dose-ranging assessment of aerosolized KL4 surfactant in a widely recognized preclinical model of RDS, demonstrating significant improvement in lung function, lung structural integrity and pulmonary inflammatory mediator profile following treatment with aerosolized KL4 surfactant versus controls, and (iii) a study highlighting the Company's novel patient interface technology intended to increase the efficiency of pulmonary aerosol drug delivery to patients requiring positive pressure ventilatory support. |
| Regarding the Company's lead aerosolized KL4 surfactant program, Aerosurf® (aerosolized lucinactant for neonatal RDS), data from the preclinical dose ranging assessment study presented at PAS mentioned above suggests that, out of several doses tested, KL4 surfactant delivered via the Company's proprietary capillary aerosol generator during a 20 to 30 minute dosing interval results in the most favorable physiologic outcomes. This study provides guidance for future clinical dosing strategies for this program. The Company's plans for 2011 include finalizing the clinical and potential commercial design of the capillary aerosol generator, finalizing the clinical and potential commercial design for the novel patient interface, and seeking regulatory guidance in the U.S. and Europe for the planned development program. |
Investor Relations Contacts
2010-11 Press Releases
May 13, 2011 10-Q http://ih.advfn.com/p.php?pid=nmona&article=47677338
May 13, 2011 http://ih.advfn.com/p.php?pid=nmona&article=47666790 A Brighter Decade Ahead for Biotech - Equity Research on Discovery Laboratories and Mylan Inc
May 11, 2011 8k http://ih.advfn.com/p.php?pid=nmona&article=47626029
May 19, 2010
Discovery Labs Achieves Key Milestone Towards Potential Surfaxin® Approval
May 14, 2010
Discovery Labs' Phase 2a Aerosurf® Study Published in Journal of Aerosol Medicine and Pulmonary Drug Delivery
April 27, 2010
Discovery Labs Provides Updates on Surfaxin®, Other Key Programs and First Quarter 2010 Financial Results
March 10, 2010
Discovery Labs Reports Fourth Quarter 2009 Financial Results and Provides Business Update
February 23, 2010
Discovery Labs Announces Completion of $16.5 Million Public Offering
February 18, 2010
Discovery Labs Prices $16.5 Million Public Offering of Common Stock and Warrants
February 17, 2010
Discovery Labs Announces Proposed Public Offering of Common Stock and Warrants
February 16, 2010
Discovery Labs Receives FDA Guidance Regarding Pathway to Potential SURFAXIN® Approval
January 19, 2010
POPG, a Key Component of Discovery Labs KL4 Surfactant, Identified as a Novel Anti-Viral Therapeutic Approach
Management Team View Bio
W. Thomas Amick, Interim CEO
Russell Clayton, D.O.
Vice President, Academic and Medical Affairs, Acting Head, Regulatory Affairs and Preclinical Research
Kathryn Cole
Senior Vice President, Human Resources
John G. Cooper
Executive Vice President, Chief Financial Officer
David L. Lopez, C.P.A., Esq.
Executive Vice President, General Counsel
Charles F. Katzer
Senior Vice President, Manufacturing Operations
Thomas F. Miller, Ph.D., MBA
Senior Vice President, Commercialization & Corporate Development
Gerald J. Orehostky
Senior Vice President, Quality Operations
Robert Segal, M.D., F.A.C.P.
Senior Vice President, Medical & Scientific Affairs, Chief Medical Officer
Mary B. Templeton, Esq.
Senior Vice President, Deputy General Counsel
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