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Realist you wrote:
"On another note: I do not believe in triple bottoms or triple tops. It's been my experience that more often than not (and that's all we need to stay in business folks - win more than lose) the third time is the time it breaches through. PPHM is now down to 63 pennies for the third time.
I expect that it breaks below 63 pennies. "
As of today on an adjusted basis PPHM is trading at .70 cents, do you still believe we "break below .63"??
Floating a Theory:
I am thinking that the 5 for 1 R/S was done for a few reasons and a calculated risk. Buy doing a 5 for 1 that put the PPS below $5 which means that Joe six pack cannot short. This keeps some stability in the stock. Meanwhile they may have enough news in their aresenal to push the stock past $5 organicly which will bring in more buyers and possibly even actual institutions. I am sure they (institutions) can nibble on stocks that are headed to $5 and above before they actually get there.
If they did a 10 for 1 it may have attracted too many willing to short it. This may be too early to tell if this was the thought process.
Looks like everyone but Realist likes the new hire. His chips are all on the table, the more he protests the better we are doing.
lafont,
Remember one of the big bashing points was the nobody at PPHM has ever brought a drug to market blah blah.
This new Dr has brough 19 of them to market. And dont think he didnt kck the tires before he signed the papers. He likes what he sees in PPHM.
TUSTIN, Calif., Oct. 19 /PRNewswire-FirstCall/ -- Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHMD) today announced that Dr. Robert Garnick has joined the company as the head of regulatory affairs. Dr. Garnick was formerly the senior vice president of regulatory, quality and compliance at Genentech. During his 24-year career at Genentech, he was responsible for 17 new product approvals including most of the company's top selling monoclonal antibody therapeutics such as Rituxan®, Herceptin®, Avastin® and Lucentis®. Dr. Garnick will be responsible for overseeing Peregrine's interactions with the U.S. FDA and regulatory agencies around the world, and will lead the development of the company's regulatory strategies for advancing its novel monoclonal antibody-based treatments for cancer and infectious diseases. "Rob has an unparalleled track record in the biotechnology and pharmaceutical industry, having led the regulatory, quality and compliance strategy for developing many of the most successful monoclonal antibody therapeutics currently on the market representing multiple disease areas," said Steven W. King, president and CEO of Peregrine. "His profound understanding of every aspect of the regulatory process and how it impacts clinical design and drug development is already proving invaluable as we prepare for the next stage of clinical development for our innovative drug candidates bavituximab and Cotara®. We have made considerable progress over the past few years in our clinical programs and bringing Rob's expertise and experience on board at this critical time is a significant development for the company." Dr. Garnick has over 30 years of experience in drug and biologic pharmaceutical development, including 24 years at Genentech helping to build the biotechnology industry. Dr. Garnick joined Genentech in 1984 and after a series of promotions, he became vice president of quality in 1994 and was later promoted to senior vice president of regulatory, quality and compliance in 2001. In this role, Dr. Garnick was responsible for all the regulated aspects of Genentech's business including drug development, commercial production and promotional and labeling compliance. After leaving Genentech in 2008, Dr. Garnick founded Lone Mountain Biotechnology and Medical Devices Inc., a successful company specializing in drug and device consulting where he remains as president and CEO. "Peregrine's bavituximab and Cotara products represent the kind of innovation that made my drug development work so exciting and fulfilling at Genentech," said Dr. Garnick. "Peregrine's PS-targeting antibodies such as bavituximab represent an entirely new mechanism that has already shown considerable promise for the treatment of cancer and infectious diseases, while Cotara has shown promising survival benefits in patients suffering from the worst form of brain cancer. I welcome the opportunity to work with the Peregrine team to help advance these promising candidates through the clinical and regulatory process." Dr. Garnick has also been extensively involved with the International Conference on Harmonisation of Technical Requirements for Registration of Pharmaceuticals for Human Use (ICH), a project that brings together regulatory authorities and pharmaceutical industry experts from Europe, Japan and the U.S. to discuss scientific and technical aspects of product registration from a global perspective. He has extensive experience in analytical methodology, process validation, and the regulatory review process in the U.S. and Europe. Dr. Garnick has authored numerous scientific papers and is a frequent keynote speaker at pharmaceutical Industry conferences and events. Joseph Shan, vice president of clinical and regulatory affairs at Peregrine added, "Rob is a welcome addition to the team at Peregrine, joining at an opportune time as we have just recently completed enrollment in all three of our ongoing bavituximab Phase II cancer trials, as well as a bavituximab Phase I cancer trial. He brings a tremendous amount of enthusiasm and experience across many different areas that will be very valuable as we continue to advance our clinical and preclinical programs."
News:
PPHM adds Genentec Executive. Dr Robert Garnick.
KU - Do you know this guy?
Chewy,
I will be at the ASM
lemmy,
If so sounds like easy money to me. Short it and let us know how that works out for you.
Take a look at this as a case study
ACOR was trading at 22+ and the three days prior to the FDA panel supporting their MS drug, look at how much these "manipulators" pushed this down.
Think this is not happeneing with PPHM? I dont know ask Realist and Moby.
Ku,
You worked for GNTA? Then you of all people will like what comes next.
Sorry no more details.
Realist, ya'know you are right. Life is not that compplicated. I think the masses should use you as a barometer on this issue. Sort of a WWJD thing. WWRD, so what ever it is you would do in this case I think it would be clear to the "actual shareholders" what they shoule do. If you say vote no, then I will do the opposite.
Life is so simple this way and everyone does the right thing. :)
Dia,
Great post but apparently you are not reading what Realist wrote. PPHM is a disaster!
This is what I was responding to:
a reverse stock split of the outstanding shares of our common stock at a ratio to be determined by our Board of Directors within a range of three-for-one and ten-for-one.
Jess, what were you referring to?
Jess,
I read it as they will do a r/s of between the range of 3/1 and 10/1. So we could see a 7/1 or even a 5/1 r/s
Are you seeing something different?
Moby,
Talent, Moby Dick sized talent.
IMO of course.
BKT - Not accurate. What makes you think taking away the ability to attract more talent for a year will help them move forward? And if they dont perform over the next year without the options at hand you would want to punish them again? Vicious circle to me.
Give them the tools they need and let them use them to move this along.
All in my opinion
In the CEO pisition? King is it for now, like it or not.
WH,
You are right on the money. They need this as currency to pay talent, BIG TIME talent.
Jess,
Keep digging, soon you will find gold ;)
Jesseme,
You are amazing!
Bavituximab is a decription of the drug, PPHM didnt assign it this name it is a clinical working name. I am sure someone here will break down the name and show you why this is named as such. Trademark are you kidding me?!?
Dia,
That was good DD, expect Thorpe to get a chunk of the pie from his old boss.
R/S looks inevetible.
Expect the unexpected not on your list of things to come.
All in my opinion of course!
Realist,
What have you made on this investment?
Realist,
Why do you care, you own no shares.
Realist,
This would only matter to you if you owned any shares in PPHM, which you do not. What does that make you?
Realist,
Why do you care, you are not a share holder in PPHM, are you?
Realist,
You own no shares, you have no say in the matter.
Realist wrote:
"Lots of selling in the low to mid $.80's. I expect $.70's by the close."
How did that prediction work out for you today? Care to predit tomorrows close?
Realist, by your own admission when PPHM was down today it was because the market did not see the adding of this doctor as "good news"
Now that PPHM is up, can we agree that the market "loves this new addition?"
BTW - The closer we get to $1 the more the street will believe we will not be delisted, a self fulfilling prophecy. And the mo-mo players will jump in for that ride. I say we avoid the RS. Not saying it is not on the table because I know it is. PPHM is just playing the hand they have the best they can. My gut says they pull a flush on the river card.
Conjecture is plenty for me thanks for asking!
Do you really think IR will tell you anything?
The share price moving up substantially will resolve lots of issues we have facing us.
My Opinion below:
Sub $1 = Out of compliance with NASDAQ
Sub $5 = Out of institutional buying
Sub $10 = Off of big investors radar
This is my last post for a while
Jake,
Really? You should know better than that.
Jess,
I hear what I hear. History is not always the best indicator for the future. I listed the reasons already, look again. Yes by region. Just like any other franchise, the buyer only gets what they pay for.
Jessme,
No bidding war would take place in public first of all.
Second, PPHM wants to have as much completed data as possible before striking a deal. The more proof it works the better the deal.
I am hearing that no longer is PPHM trying to draw the attention of BP to them. They are now getting called on by the BP's asking to see what they have. That is a big change from the past.
The R/S is not off the table, but if they do it, it will be for all of the right reasons and backed up with signed deal(s), institutional ownership etc. I hope Halloween will not be too scarry!
Things are different in Tustin these days. Look for deals to be done by region. That keeps anyone from shelving the drugs.
ALL IN MY OPINION
How is it any different than selling your house when the bank owns the note on it?
Oh yes, it isnt. The bank just gets paid first and what is left over is yours. Thanks for the lesson in futility.
Who is the "realist" now?
I dont believe they will be taking that additional $5M nor selling Avid so this means nothing. I am sure they sold shares though. I guess we will know soon.
IMHO
Here it is without all of the extra crap:
Item 8.01 Other Events.
Peregrine Pharmaceuticals, Inc. (the “Company”) entered into a Settlement Agreement and Mutual General Release dated June 4, 2009 (the “Settlement Agreement”) with Cancer Therapeutics Laboratories (“CTL”), Alan Epstein, M.D. (“Dr. Epstein”), Clive Taylor, M.D. and Peisheng Hu, M.D. (collectively, the “CTL Parties”), providing for a settlement and release of all claims with respect to our previously disclosed litigation with the CTL Parties. The dismissal of claims was filed in the Superior Court of the State of California for the County of Orange on June 18, 2009. Medibiotech Co., Inc. (“Medibiotech”) and Shanghai Medipharm Biotech Co., Ltd. were once parties to the litigation but previously settled with us.
Under the Settlement Agreement, we agreed to dismiss with prejudice our claims for breach of contract and interference with contractual relations, as well as all other causes of action, stemming from our 1995 license agreement, as amended, with CTL. CTL agreed to dismiss its breach of contract counterclaim, as well as all other causes of action. In connection with the Settlement Agreement, (1) the Company agreed to pay to CTL the sum of four hundred thousand dollars ($400,000) in eight equal monthly installments of fifty thousand dollars ($50,000) commencing upon execution of the Settlement Agreement and continuing on the first business day of each succeeding month until paid in full, (2) CTL agreed to cause to be issued to the Company 950,000 shares of Medibiotech (which represents fifty percent (50%) of the shares of Medibiotech owned by CTL), and (3) the Company and Dr. Epstein entered into a license agreement, effective as of September 20, 1995, pursuant to which Dr. Epstein granted to the Company (i) a fully paid-up, royalty free, exclusive worldwide license to the murine clone TNT1 and (ii) a fully paid-up, royalty free, non-exclusive worldwide (except in the Peoples Republic of China) license to the murine clones TNT2 and TNT3. The foregoing license grants include our right to grant sublicenses, to make, have made, modify, have modified, use, sell and offer for sale, murine clone TNT1, TNT2 and TNT3 products and derivatives thereof, but not to sell the murine clones. We also granted back to Dr. Epstein a limited, fully paid-up, royalty free, exclusive license to the murine clone TNT1, with the right to grant sublicenses, to make, have made, modify, have modified, offer to sell, sell and use the murine clone TNT1 and its products solely in the Peoples Republic of China effective as of August 29, 2001. In consideration for the foregoing license grants, we paid Dr. Epstein the sum of one thousand dollars ($1,000), which amount was deducted from the initial $50,000 payment.
The Settlement Agreement contains a full general release between the Company and the CTL Parties of all action or actions, causes of action, in law or in equity, suits, debts, liens, contracts agreements, promises, liability, claims, demands, damages, loss, cost or expense, of any nature whatsoever, known or unknown, fixed or contingent, by reason of any act, omission, cause, matter or thing whatsoever from the beginning of time.
Information contained herein shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
It is from an 8K filed by PPHM
No comment on the court settelment?
8K was filed with the particulars.
Just speculating, but if they announce a Cotara deal tomorrow that would probably explain all of the volume over the past two weeks.
Just a thought & IMO
Thanks for the chart update.
I agree, there is no way the current news has been driving this volume.
It will be interesting to see if we get a PR and the volume continues. It seems to be acting like a differnt stock than it was a couple of months ago. I hope we are finally marching towards increaseing the PPS dramatically.
Hey KG, I just started to read this board. Nice to see a board that is orderly.
Just curious what you though of todays action on PPHM.
Do you think we se another PR as cover for a lot more volume this week?
TIA