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DGEN major bounce could be on the way
DGEN posted 1st qtr results on 5/22, but has not affected pink rating as pink no information.
http://www.otcmarkets.com/stock/DGEN/news
Website up and running - bentenbio.com, no mention of deltagen on the site.
still waiting for... something
Second Quarter is out...more delays
Well, that sure took a nasty turn :)
BCIDemo site is down now. I spoke with mgmt about it and it was not supposed to be up - developer had it set to 'publish' in error. The 'news' items were bogus and just for practice in working with the site, is what I was further told.
Nice find. Let's keep an eye on it - maybe they'll try to make IR less of a joke.
http://bcidemo.com/default.aspx#
very interesting - especially the 'news' items - but you can't click through. It was my understanding that the company wanted to do one more round of funding, and they wanted to do it with well known biotech funds for street cred. IR is a joke though.
A sign of life! And your first post on IHub, no less. Welcome.
You may want to look at a couple of things if you haven't seen them already:
http://www.deltagen.com/pressreleases/20101208bio-life-tech-presentation.pdf
and
bcidemo.com
Agreed on all counts. Glad someone else is still around -- please post if you find out anything.
I put a call in to the company and hope to get some info back.
What I would really like to know is what the world will look like from their perspective once the new facility goes live "early in the third quarter".
Will it produce more of the same (existing products) or new products? What level of demand is anticipated and how was this arrived at? How long will it take before the new facility can meet demand? Is there any chance of it running at capacity in the near term?
They have spent a couple million on the new facility and are proceeding with "turning it on". That implies there is value to doing so and demand for its output, which implies some revenue--possibly considerably more revenue than we have seen to date.
Just keeping the flame alive. The company seems to be at a loss for words but they can't possibly have used up that entire cash hoard yet... can they??
I guess everyone else has moved on to stocks that actually trade. I don't remember how much of this thing I own but will hang on awhile longer just in case....
Another mostly silent month. zzzzzzz
Didn't realize you were in this one too. A strange, silent little company. I wonder why they're even bothering to be public.
Some vol finally. .05 flat. Vol 35 times avg. all in the last few minutes.
shhhh - you might wake it up...
And then it went back to sleep again. Go figure.
Saw that volume - very big for DGEN
No one talking here about the past week's volume, but it was significant. Something may be up....
Don't quote me - I think around 65-ish? If you find the Benten merger release from late '09 they give the number - I'm just too lazy to go back and look and my brain is leaky these days - but 65 is pretty close.
how many shares does DGEN have outstanding?
I do believe that certain royalty rights with the big pharmas who were subscribers were waived as part of the bk exit process - in exchange for releases on deliveries of new knockout lines - but there remains potential over and above what Benten can do.
>>you might not be aware that back in the day the big pharma's all ponied up 25 million each
along with giving DGEN royalty rights on top of the 25 million for any drugs commercialized from the data, and the mice were extra. The major deal that mgmt pulled off to pull the company out of bk was a multi-million deal with the NIH and the Wellcome-Trust whereby mice and the database were made available to academic institutions on a royalty free basis - but royalty rights were retained for any commercial development of any academic development. Run Deltagen through the US Patent Office database - they hold dozens. Hundreds more were in the application process pipeline but had to be abandoned as the legal fees for patent perfection were not sustainable - another proper call by mgmt. All to say, this company has been an absolute steal at a nickel.
As I've posted before, I've been in DGEN for years - all my shares are more than free having received the 3 liquidating distributions that followed their emergence from bk several years back (well, not all my shares, as I have been buying more over the last month). While mgmt has not done much over the last 3 years or so other than minimize burn, I do believe based on my few conversations with them that they were in fact waiting for the best opportunity to monetize the mice and DeltaBase (if you are relatively new here, you might not be aware that back in the day the big pharma's all ponied up 25 million each just for access to the database - its not flimsy IP). Having watched mgmt right the ship during the period of bankruptcy, I know that they are capable of rolling up the sleeves and getting it done. I was quite impressed with the structure of the lease for the new Benten facility as a case in point. And therw is 10+ cents free cash per share. So cash at 50% off with impressive IP for free and a proven mgmt team. The fact that it has sat idle for the last few years will no doubt make it harder to get back on the radar, but it will get there, Benten will be the trigger.
There were obviously a few people who couldn't wait to sell into the pop, but it's still good to see this level of activity. My guess is that someone thinks something's going on, but have not tried to confirm.
DGEN - today's volume is almost 20x average volume
OT: yikes WZE also went goo goo goo, many of my old in the basement stuff starting to unhybernate!!
Nope. Have not been in touch with the company. Apparently someone wanted some stock pretty urgently.
I noticed, and moving quickly. Any reason you know of?
Holy molly I can't belive it, have 55K and was cursin day I bought It. What gives?
Insiders once paid double so more room for ball and chain crowd!!!
Shhh! Don't look now but DGEN has awakened.
I hope these guys are working on a cure for anemia.
There's been some volume lately... time to wake up soon?
thanks; good value here w/cash position alone
Thanks for the background.
Its cheap here trading at roughly 1/2 cash and IP for free. There has been nothing much to look at for the last couple of years (and I've been on this one for 7 or 8 now - having bought in the first time around at an average price of a nickel - those shares are all more than free now as DGEN distributed some nice cash distributions after emerging from bankruptcy). What they've been needing is a catalyst for adding value to the IP. Could be a very good climate for outsourcing services right now, plus its a service wrapped around that DGEN themselves created. Picked some more up today based on the lease being indicative of DGEN having something new to talk about in coming months. These mice have real value - that was always true and evident throughout the bk process several years back.
I don't believe there has been any change since the time of the acquisition.
are #shares o/s still around 40 million; thanks
Nice find! Good to know things are moving along although the company remains quiet as far as press releases are concerned.
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Deltagen is a leading provider of drug discovery tools and services to the biopharmaceutical industry. Deltagen offers a suite of programs designed to enhance the efficiency of drug discovery including access to biological models as well as both small-molecule and secreted protein drug targets. In addition, Deltagen offers extensive target validation data in the areas of immunology and metabolic diseases. Deltagen's products and programs have been validated by customers and partners such as Eli Lilly & Co., GlaxoSmithKline, Merck & Co., Millennium Pharmaceuticals and Pfizer.
Deltagen’s unique systems biology approach is designed to help clear the first and major hurdle of drug target discovery: lead validation. Our high-throughput in vivo mammalian knockout technology enables us to identify and validate the utility of genomic targets within a living model at an extraordinary scale and speed. Using our proprietary tools, we believe we can uncover clinically relevant drug targets more efficiently and earlier in the discovery process.
The scientists in our Target Discovery Program have developed methods to discover the gene function of novel drug targets and to understand disease pathways as we strive to accelerate the development of meaningful, commercially promising small-molecule and secreted-protein therapies. Our proprietary technology platforms serve the drug discovery efforts of our pharmaceutical partners and customers.
Snapshot Information
June 27, 2003 Files Chapter 11 BK ~ Lexicon Genetics sues Deltagen over royalties
Nov 15, 2005 Court Approves reorganization
March 14, 2005 Lexicon and Deltagen Settle diputes, Deltagen pays 4Million cash payment
Sept 2005 NIH gives 3 year contract, valued up to $25 Million
Sept 2005 (CRL) Charles River Laboratorys becomes exclusive custodian of world wide distributor of Deltagens repository.
Sept 30 2005 NIH orders $5.16 Million worth of knockout mouse
Nov 15 2005 Court Approves, paying creditor claims 100% and equity preserved intact.
Nov 29 2005 Court Appointed Reorganization effective.
Dec 2005 CEO resigns - Lawrence Hill, VP I&L Robert Driscoll becomes CEO and President and Secretary
Dr. Winston Thomas - elected COO
Dr. Shera Kash - elected VPO
Dr. Driscoll, Mr. Hill, Dr. Chambon, Mr. Hernon - elected to BOD
-----------------------------------------------------------------------------------------------------------------
Jan 2006 NIH pays $1.93 Million
Mar 31 2006 Company closes Chapter 11 BK with all contested claims resolved.
Jan-Feb-Mar ~ brings in $1.8M - 431K net
$1.548M - expenses to salaries, 3rd-party royaty, patent prosecution, legal fees
Cash on hand $10.392 Million.
Jun 30 2006 $3.749 Million Revenue
NIH pays $3.2Million per 3 year contract
$0.500 Million Revenue in Access Fees
$1.4Million Net
Cash on hand $10.789Million
July 2006 Hire investment banking firm to assist strategic alternatives or sale of company.
Sept 30 2006 $0.970 Million Revenue
$0137 net
Cash on hand $11.993Million
Oct 2006 Deltagen enters agreement to 1 time buyout of DeltaBase collborators
Nov 2006 BOD terminate Investment Banking option.
Deltagen moves to new facilities: The Artium, 1900 South Norfolk St. Ste 105, San Mateo, Ca.
Dec 2006 Divy of .20 per share reduces cash by $7.7Million
Cash on hand $4.29Million
Corporate Headquarters
1031 Bing Street
San Carlos, CA 94070
Tel 650-569-5100
New Corporate Headquarters
effective - Jan 1, 2007
The Atrium
1900 South Norfolk Street, Suite 105,
San Mateo, CA 94403.
Products and Programs
Winston Thomas, PhD.
Chief Operating Officer
Tel 650-569-5412
deltaone@deltagen.com
What they do....
Deltagen’s unique systems biology approach is designed to help clear the first and major hurdle of drug target discovery: lead validation. Our high-throughput in vivo mammalian knockout technology enables us to identify and validate the utility of genomic targets within a living model at an extraordinary scale and speed. Using our proprietary tools, we believe we can uncover clinically relevant drug targets more efficiently and earlier in the discovery process.
Product Line
Since late 2005, Deltagen has had a collaboration with Charles River Laboratories of Wilmington, Massachusetts (NYSE: CRL). Charles River Laboratories, a global provider of solutions that advance the drug discovery and development process for the biopharmaceutical industry, is the exclusive custodian and worldwide distributor of Deltagen's repository of knockout mouse materials
Reference
http://www.criver.com/
Press Releases and Other Information
http://www.deltagen.com/pressreleases/pressreleases.html
OFFICERS
Robert J. Driscoll, J.D., Ph.D.
President and Chief Executive Officer
Robert Driscoll, J.D., Ph.D., President and Chief Executive Officer since 2005, formerly served as the company's Vice President, Intellectual Property & Legal Affairs from 2003 until 2005 and as Associate General Counsel. Prior to joining Deltagen in 1999, Dr. Driscoll was a patent and intellectual property attorney with the law firm of Pillsbury Madison & Sutro LLP. Dr. Driscoll received his Ph.D. in Chemistry from the California Institute of Technology and his J.D. from Loyola Law School. Dr. Driscoll also sits on the company's Board of Directors.
Winston Thomas, Ph.D.
Chief Operating Officer
Winston Thomas, Ph.D., Chief Operating Officer since November 2005, formerly served as the company's Vice President, Scientific Operations from 2003 until November 2005 and as Associate Director and Senior Director of Molecular Biology. Prior to joining Deltagen in 1999, Dr. Thomas was a Senior Scientist at Mercator Genetics, Inc. from 1993 to 1999 and was a postdoctoral fellow at Genentech. Dr. Thomas received his Ph.D. in Cellular and Developmental Biology from Harvard University and his B.Sc. from the University of Utah.
Daniel Ratto
Chief Financial Officer
Daniel Ratto, Chief Financial Officer since 2003, has over 20 years of experience in various financial positions. For the last 16 years, Mr. Ratto has worked as a consultant in the fields of turnarounds, bankruptcy, restructuring, accounting and finance, having worked for a wide variety of companies.
BOARD of DIRECTORS
Constantine E. Anagnostopoulos, Ph.D.
Constantine Anagnostopoulos is Deltagen's Chairman of the Board. Dr. Anagnostopoulos is a retired corporate officer of Monsanto Company, a former managing partner of Gateway Associates, a Missouri-based venture capital firm, and the recently retired lead director of Genzyme Corporation. At Monsanto he served as Director of Research, Head of the New Enterprise Division, General Manager of a number of operating divisions and Chairman, President and CEO of Monsanto Europe-Africa-Middle East. He presently sits on the board of five biopharmaceutical companies, including Dyax Corporation. Dr. Anagnostopoulos received his Ph.D. in Organic Chemistry from Harvard University and is a graduate of the Executive Program in Business Administration of Columbia University. He has served on the Presidential Council on Innovation.
Robert J. Driscoll, J.D., Ph.D.
Robert Driscoll is Deltagen's President, Secretary and Chief Executive Officer. Dr. Driscoll served previously as Deltagen's Vice President, Intellectual Property & Legal Affairs and Associate General Counsel. Prior to joining Deltagen, Dr. Driscoll was a patent and intellectual property attorney with the law firm of Pillsbury Madison & Sutro LLP. Dr. Driscoll received his Ph.D. in Chemistry from the California Institute of Technology and his J.D. from Loyola Law School.
Martin J. Hernon
Marty Hernon is a General Partner of Boston Millenia Partners. From 1994 to 1997, Mr. Hernon was a Principal at Boston Capital Ventures. Previously, he was Assistant General Counsel for Lifetime Corporation, an alternate site healthcare services business, and an attorney in the Business Department at Warner & Stackpole/Kirkpatrick & Lockhart, a Boston law firm. Mr. Hernon received a B.A. in Economics from Boston College, an M.A. in Economics from the University of Maryland and a J.D. from Georgetown University.
Thomas A. Penn, J.D., M.B.A.
Thomas Penn is a Partner of Meridian Venture Partners. From 1998 until 2000 Mr. Penn was a partner of Boston Millennia Partners. From 1994 until 1998, Mr. Penn served as President and Chief Executive Officer of Tektagen, Inc. Prior to joining Tektagen, Mr. Penn was President of Independence Ventures, Inc. Mr. Penn has served as President of the Pennsylvania Biotechnology Association and as Co-Chair of Pennsylvania's Technology 21 Biotechnology Network. Mr. Penn holds B.S. degrees from the Massachusetts Institute of Technology in Metallurgy and Materials Science and in Industrial Management, an M.B.A. from Stanford University, and a J.D. from the University of Pennsylvania.
William A. Scott, Ph.D.
William Scott is the former Chief Executive Officer of Physiome Sciences, where he served from 1997 to 1999. Prior to joining Physiome Sciences, Dr. Scott spent thirteen years with Bristol-Meyers Squibb where he held a number of management posts, including Senior Vice President of Exploratory and Drug Discovery Research. Dr. Scott has served on the boards of eight companies including CombiChem, Inc., and currently serves on the Boards of Atherogenics, Inc. and Avalon Pharmaceuticals, Inc. Dr. Scott holds a B.Sc. in Chemistry from the University of Illinois and a Ph.D. in Biochemistry from the California Institute of Technology. Dr. Scott is an Adjunct Professor at the Rockefeller University, where he has been affiliated since 1969.
SHARE STRUCTURE - O/S Approx. 39 mil.
DGEN institutional ownership:
2009-11-12 2009-09-30 13F-HR Everett Harris And Co Institution 6,182,188 No Change
http://www.mffais.com/dgen.pk
Top Institutional HoldersConcentration of Current % Held
Everett Harris & Co. 6.2M $494,575 +53% 16.0% Low
Wells Capital ... 5.5M $387,934 +47% 14.4% Moderate
http://data.cnbc.com/quotes/DGEN/tab/8
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6348952
courtesy of Stock Charts:http://stockcharts.com
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