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Can't provide a straight answer, but I would say that the things the company has been working on are coming together.
Price movement is a combination of things, MM's done holding it down, shorts covering and day trader's jumping in as price alerts are going off. In my opinion, this is just a teaser.
I love tall candle's!
BioPharmX Reports Second Quarter 2019 Financial Results
BioPharmX Reports Second Quarter 2019 Financial Results
(PRNewsfoto/BioPharmX Corporation)
NEWS PROVIDED BY
BioPharmX Corporation
16:15 ET
MENLO PARK, Calif., Aug. 30, 2018 /PRNewswire/ -- BioPharmX Corporation (NYSE American: BPMX), a specialty pharmaceutical company developing products for the dermatology market, today reports financial results for the quarter ended July 31, 2018.
"This quarter has been filled with significant progress for the company," said Anja Krammer, BioPharmX president and co-founder. "In acne, the FDA granted a CARC waiver, potentially shaving years off of additional dermal carcinogenicity studies for BPX-011, and in rosacea, we received IRB approval to begin the BPX-041 phase 2 program. To help guide these development programs, we also formed a Special Advisory Council consisting of experts across a variety of fields. Additionally, this quarter saw our third patent awarded this year, underscoring the value of the HyantX™ delivery system."
Second Quarter Financial Results
For the second quarter ended July 31, 2018, total operating expenses were $4.5 million, compared with total operating expenses of $4.3 million in the prior fiscal year's second quarter.
Net loss for the quarter ended July 31, 2018 was $4.4 million, or $0.02 per share, compared with a net loss of $3.7 million, or $0.05 per share, during the prior fiscal year's second quarter.
Excluding stock-based compensation expense and the impact of the change in the fair value of the warrant liability, non-GAAP net loss for the quarter ended July 31, 2018 was $4.0 million, or $0.02 per share of common stock. During the second quarter of the prior fiscal year, the comparable non-GAAP net loss was $3.7 million, or $0.05 per share.
Cash and cash equivalents as of July 31, 2018, were $6.6 million.
NYSE American Compliance
On August 27, 2018, the company received a deficiency letter from NYSE American LLC ("NYSE American") stating that the company is not in compliance with the continued listing standards as set forth in Section 1003(f)(v) of the NYSE American Company Guide ("Company Guide"). The letter states that because the company's common stock had been selling for a low price per share for a substantial period of time, the company is not in compliance with Section 1003(f)(v) of the Company Guide. The NYSE American staff determined that the company's continued listing is predicated on demonstrating sustained price improvement or it effecting a reverse stock split of its common stock within a reasonable period of time, which the staff determined to be until February 27, 2019. In the interim, the company's common stock will continue to be listed on the NYSE American while it attempts to regain compliance with the listing standards, subject to the company's compliance with other continued listing requirements. The letter does not affect the company's business operations or its Securities and Exchange Commission reporting requirements.
Deficiency Letter expiration date on February 27, 2019
The Company’s common stock will continue to be listed on the NYSE American while it attempts to regain compliance with the Listing Standards
Venture Capital / Contingent Value Right (CVR)
Waiting on the less non-dilutive plan to be announced! We know the days are closing in on an action plan to move this company forward! We will not be at this price much longer! Multi resistant breaks coming!
The $1.50 is without R/S. Vivo sold for tax purposes while they were sitting at a loss for the year.
So why do you choose to highlight that piece of information out of all that was said in the article?
I mean, I like this part of the article, "Wall Street’s most bullish BioPharmX Corporation (NYSE:BPMX) analysts are predicting the share price to blow past $1.5 per share during the next 12 months", yet you choose to highlight what looks to be a bearish outlook while the price is where it is at this time.
Last time, on December 1st 2017 the company received notification, the deficiency letter from New York Stock Exchange that they were not in compliance with listing standards.
They were given on a reasonable period of time which determined that to be until June 1st 2018 where they regained compliance.
From a 3 month chart perspective, I would like to believe the bottom is around $0.135-$0.14 as stated in my previous posts.
You hold a nice average! Yeah, believe it or not, I'm adding at these levels as well.
We are so do for a reversal! Between everyone on edge, ready to hear from the company plus the chart indicators just needing a spark. This thing can explode upward at any time.
I may not be exactly accurate, but I believe we are below the $0.20 avg. now at .1971
Time is ticking. We need to hear something positive from the company really soon!
A reverse split has never happened with this company. They only put it on the proxy last time and this time as a safety guard.
A reverse split would become a concern if we receive a compliance notice from the SEC. Which we would have to be notified by the company of receiving that notice.
If the common stock sells for a low price (below .20 for a 30 day avg) for a substantial peroid of time, the SEC could notify the company. At that time, the company will have to get the share price back in compliance within a reasonable time after being notified or the NYSE could move to delist the company from the NYSE MKT.
I believe the most important thing to be watching for at this moment is the 30 day avg. below $0.20 and especially that notice from the SEC. If that notice comes, there will be more chatter about an RS than ever. It would be the final warning sign in my opinion.
Not saying that they wouldn't have an action plan ready or one in the works to bring up the price without RS, but we as investors have to watch the warning signs and make the best decisions for our investment.
Time to reset BioPharmX! Let's get this company running as intended from the beginning!
Reset BioPharmX Here
I assume that is a rhetorical question but I'll throw out my opinion?
My opinion is that we first need to wait for the 8K in regards to the past proxy vote. They have 4 days to file that from yesterday.
I assume now that they are figuring out what is the best way to fund P3 for BPX-01 and how to secure future funding. Shareholders spoke up and said no to additional diluting shares so we somewhat forced them in a new direction.
In the meantime we might see news on other products that they are currently working on in their pipeline.
I believe investors are still hesitant on whether or not they will enact an RS even though they said they don't have plans to do so at this time, but that what's keeping the share price from increasing along with how they are planning on funding the next steps. I believe investors will feel a little more confident if they release news that can prop up the share price and have it continue to hold there to get us a little further away from the dreadful $0.06 that we need to stay above. The $0.20, 30 day average compliance is also a concern, although that would come with a warning that would still give us like 6 months to correct before anything serious would happen. We definitely will have partnership or locked in funding by that time IMO.
I'm really confident in the fact that once they announce the start of P3 for BPX-01 with funding locked in. The share price will carry us further away from any worries of an RS.
Confidence in the company including their product and pipeline, along with the heavy institutional investors holding, is keeping us stable. The charts are looking way oversold and we just need that spark of news to get a reversal going. It's always tough when we're sitting at the bottom but good days are around the corner IMO! There's just too much uncertainty at the moment.
I agree! Now we can get down to business with those ioi's!
Time to lock in the partnership, without an additional 450 million shares!
BioPharmX Announces Results of Annual Shareholders Meeting
MENLO PARK, Calif., Aug. 14, 2018 /PRNewswire/ -- BioPharmX Corporation (NYSE American: BPMX), a specialty pharmaceutical company developing products for the dermatology market, today held its 2018 Annual Meeting of Shareholders (the "Annual Meeting"), and announced that each of BioPharmX's director nominees have been re-elected to the board of directors: Anja Krammer, Michael Hubbard and Stephen Morlock.
Shareholders also approved Proposal 3, an amendment to the company's certificate of incorporation to effect a reverse stock split at a ratio not less than 1-for-2 and not greater than 1-for-25, at the discretion of the company's board of directors. Although the company has no immediate plan to enact the reverse split, the approval of this proposal provides the company and board of directors with the flexibility to implement such a split if and when appropriate. In addition, shareholders approved Proposal 4, the amendment of the company's 2016 Equity Incentive Plan to increase the number of shares available thereunder by 50,000,000 shares on pre-split basis, and remove the limitation on the number of shares that can be issued in a calendar year to a plan participant; Proposal 5, to ratify the appointment of BPM LLP as the company's independent registered public accounting firm for the fiscal year ending January 31, 2019; and Proposal 6, the advisory vote on the compensation of the company's named executive officers, each as set forth in the company's Definitive Proxy Statement filed with the Securities and Exchange Commission ("SEC") on July 6, 2018. Proposal 2, an amendment to the company's certificate of incorporation to increase the total number of authorized shares of common stock from 450,000,000 shares to 900,000,000 shares, was not approved. The company will continue to evaluate its need for additional shares in the future.
"I would like to thank our shareholders for showing their support on the measures put forth by the company, as demonstrated by the affirmative votes cast at today's shareholder meeting," said Anja Krammer, president of BioPharmX. "With nearly 150 million shares voted, the approved proposals allow the company flexibility as it remains committed to its clinical trial programs and focused on its strategic initiatives and reinforcing confidence in the business."
Final voting results of the Annual Meeting will be included in a Current Report on Form 8-K which the company will file with the SEC within four (4) business days of the Annual Meeting, at which time it will become available at www.BioPharmX.com and www.sec.gov.
The day of "change" has arrived. Soon we will know what's in store for us. Stock market hates uncertainty and that's one reason why we're at this price level.
I truly hope Long's receive the decision that's best fits our current position and future outcome.
This evening is going to be huge in one way or another! I do believe in BioPharmX and that good things are soon to come! (still a nail biter tho)
GLTA in how this turns out!
That's all we can do...
Do they really want us to believe that there hasn't been non-dilutive offer's presented since 2016? Go back and look how far it's been since we finished BPX-01 phase 2. This management has been dragging their feet to this proxy vote date in hopes to continue funding through dilution !
I believe at anytime they could have taken an offer to start P3 but purposely wanted to see if shareholders were willing to foot the bill by offering this share increase. Hell, I even voted yes last year because it's what we needed to prove through data that just wasn't present at the time. We needed to complete P2 and have that R/S as a safety net. We are ready to bargain. We have amazing data, stated by Anja, multiple ioi's, and much larger bargaining chips and now management is saying, let's get shareholders to pay for it! We'll get them to vote yes.
Let's hope enough investors can see the light and voted no! Time to get this management back on track with the Long Investors profit plan!
Will history repeat itself?
After hours on Jan. 31, 2018 the single only proposed R/S had expired. Here are what the days looked like following that event.
Jan 31, 2018
Opened - .135
High - .138
Low - .13
Closed - .132
Vol - 7,840,193
Feb 1, 2018
Opened - .14
High - .188
Low - .135
Closed - .1877
Vol 52,370,613 Check out that increase the day after R/S expired
Feb 2, 2018
Open - .1837
High - .185
Low - .14
Closed - .1611
Vol 29,836,638 Still decent volume
I just wanted to share some of those past numbers in case some were wondering how this went last year in regards to the reverse split expiring.
I myself of course am looking for that No Vote to get this board back on their original goal of partnership and to see a repeat of $0.13 to $0.3751 that hit by (3/7/18). Looking to get beyond that price once they lock in funding.
So I just downloaded the app. I saved BPMX in my watchlist.
I open the ticker where it shows the single line graph chart, scroll down, and there it is under about.
CEO James R. Perkarsky
Headquarters - Menlo Park California
Founded 2010
Employees 27
I don't know, I find it odd that they have old information on there I guess. it's possible that the notification had to do with the earnings report coming out. It's just that my friend claims it used to have Ania's name there, not James.
Anyone on the Robinhood app? A friend just notified me of alert they just received about BioPharmX. Upon opening the page it states CEO as James R. Perkarsky.
Can anyone answer if it has always stated that? Why would Robinhood send out an alert just now, and the page says the previous CEO (James) as CEO now and not Anja?
Just curious since tomorrow is the proxy vote?
You'll be attacked over there for speaking the truth, but you are correct! Tomorrow we will see change! The two years of feet dragging is coming to an end! Time to choose a deal that starts benefiting long shareholders and less about management salaries!
Holding long and strong! Picking up lost stop losses along the way!
There's the dip I was looking for!
The company has another 31 patent applications pending, to protect all four of the BioPharmX delivery systems.
BioPharmX Announces Patent Award, Expanding Protection for Innovations in Solid Dosage Forms
MENLO PARK, Calif., Aug. 9, 2018 /PRNewswire/ -- BioPharmX Corporation (NYSE American: BPMX), a specialty pharmaceutical company developing products for the dermatology market, today announced that the U.S. Patent and Trademark Office has granted a fifth patent to the company – which means that three of its drug delivery systems now have patent protection.
The patent, (U.S. Patent No. 10,034,899), entitled "Solid oral dosage form for breast symptoms," protects improvements in BioPharmX's novel system for the delivery of molecular iodine to treat fibrocystic breast condition. It recognizes the unique benefits provided by the addition of vitamins A and/or D and calcium and/or iron to the company's Violet® iodine, a novel and proprietary formulation for the treatment of fibrocystic breast condition, containing iodide and iodate salts that react to form molecular iodine when they are exposed to gastric pH.
This is the third patent granted to BioPharmX this year. The first, granted in February, was for the company's microencapsulation delivery system. The second, granted in March, protects the company's HyantX™ delivery system, which forms the basis for two investigational drugs, BPX-01* for acne and BPX-04* for rosacea.The company has another 31 patent applications pending, to protect all four of the BioPharmX delivery systems.
"The patents granted to us by the USPTO validate the novelty of our delivery systems," said R. Kehl Sink, PhD, Senior VP of Intellectual Property and Legal at BioPharmX. "These patents and the 31 pending patent applications protect our investment in product innovation for years to come."
Violet®, BioPharmX's first product, demonstrated that the company could overcome barriers that have historically stumped other pharmaceutical companies. This patent grant is another milestone in BioPharmX's record of innovation.
Clinical and Corporate Update:
* The final patient was enrolled and dosed in the third Phase 3 study (FX2017-22) investigating FMX101, the Company’s minocycline foam 4%, in patients with moderate-to-severe acne.
° Top-line results are expected in the third quarter of 2018.
* The final patient has been enrolled and dosed in two Phase 3 clinical studies (FX2016-11 and FX2016-12) evaluating the safety and efficacy of FMX103, topical minocycline foam 1.5%, for the treatment of papulopustular rosacea.
° Top-line results are expected early in the fourth quarter of 2018.
* In April 2018, the Company raised net proceeds of approximately $16.1 million, through a direct registered offering of approximately 2.9 million shares at a price of $5.50 per share to OrbiMed Partners Master Fund Limited.
Foamix (FOMX) Reports Q2 Loss, Lags Revenue Estimates
Foamix came out with a quarterly loss of $0.46 per share versus the Zacks Consensus Estimate of a loss of $0.59. This compares to loss of $0.44 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 22.03%. A quarter ago, it was expected that this acne treatment developer would post a loss of $0.45 per share when it actually produced a loss of $0.69, delivering a surprise of -53.33%.Over the last four quarters, the company has surpassed consensus EPS estimates just once.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.Foamix, which belongs to the Zacks Medical - Drugs industry, posted revenues of $0.96 million for the quarter ended June 2018, missing the Zacks Consensus Estimate by 12.36%. This compares to year-ago revenues of $0.80 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Foamix shares have lost about 4.2% since the beginning of the year versus the S&P 500's gain of 6.9%.
What's Next for Foamix?
While Foamix has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Foamix was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.37 on $1.20 million in revenues for the coming quarter and -$1.76 on $4.60 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Drugs is currently in the bottom 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked Industries outperform the bottom 50% by a factor of more than 2 to 1.
https://www.zacks.com/stock/news/316970/foamix-fomx-reports-q2-loss-lags-revenue-estimates
I follow ST, although I don't post there.
I do appreciate the members there that post informative information about BPMX and support the stock!
But some posts I just have to shake my head and laugh. Posts like "the company needs this RS and extra shares or they'll fail or they need a yes vote to lock in partnership". The company is receiving many offers, non-dilutive options, although these offers come with change. Change that the management feels could be a threat to their comfortable situation. IMO, it's not about the long investors anymore. It's about management keeping things the way they are now.
Since the the companies growth, the plan was never to go at it alone. For years it's always been about outside funding for phases and to take the product to market.
Anja has stated that in beginning during conference calls after ER reports. Why now have they changed course and choose to burn through all of the approved shares at the cost of loosing company value? This is a research and development company.
Now in her latest interviews she keeps talking about building a product in house like their Violet product. This is a research and development company that doesn't carry the funding to take it to market. Only recently has she changed her tune.
I truly hope that we get the No Vote otherwise this stock is going to get really ugly as many pull out to save what's left of their investment! Of course to re-enter once the bottom is found.
Appreciate that!
It's hard watching the stock price decline like this, but IMO, change is coming!
Once the No Vote passes, we move up!
Once the company announces their plan for P-III including funding, then the steady climb upward begins!
FDA, Patents, Delivery System with a water soluble product that can be used with many other products already on the market today!
Investors just need to know how it's going to be funded before they jump in. No dilution! No Reverse! Then the stock price moves up! Once P-III go ahead is announced, I'm sure we'll see many more institutional investors joining, knowing that this product will be closer to making it to market!
We're not far away from this downtrend ending! Institutional investors holding, I'm holding!
By this time next week, my prediction is that Long's will be very happy to see a new upward trend set in motion!
I have confidence that the No Vote will prevail and that we will see movement like we did the day after Jan. 31st when the original R/S expired.
Go look at a chart from Feb 1st 2018 @ $0.13 to Mar 6th 2018 @ $0.34 to see the investors reaction.
2 years of dragging on this partnership talk at the cost of Long Investors while the CEO rakes in her overblown salary!
We should have already been in Phase III if it wasn't for the board dragging us down to get to this proxy vote date! You think that they need your yes vote to go forward with the partnership? Wrong! This board is getting to comfortable with their salaries being paid by investors hard earned investment money! This company has many non-dilutive options! Yes! Non-dilutive! Meaning, No More Shares to drive down company value! It's time to hold their feet to the fire and start making deals that restore investors confidence!
Ohh, they only need the yes vote for a safety net? BS! You give this board the power to continue funding through selling shares, well then that's what their going to do! But we don't need to worry about that happening because the people and institutional investors will speak loudly come August 14th! Time to stop the bleeding! Time for management to change course, and from what I gather follow message boards, I'm seeing a lot more No Vote momentum! Long's will prevail and that's why I'm holding!
As far as being a little greedy, go ahead and pull the price down to $0.135-$0.14 before the vote! I'm ready with dry powder!
Foamix Pharmaceuticals to Announce Second Quarter Financial Results on August 8
REHOVOT, Israel, and BRIDGEWATER, N.J., Aug. 01, 2018 (GLOBE NEWSWIRE) -- Foamix Pharmaceuticals Ltd. (NASDAQ:FOMX), ("Foamix"), a clinical stage specialty pharmaceutical company focused on developing and commercializing proprietary topical foams to address unmet needs in dermatology, today announced that it will report financial results for the three and six-month periods ended June 30, 2018, on Wednesday, August 8 after the markets close.
Due to the proximity of the Company receiving data from the confirmatory Phase 3 study of FMX101 in acne, the Company will not be hosting an earnings conference call. As previously disclosed, the Company expects to announce top line results from this Phase 3 study in acne during this current quarter and will address investor questions, including those regarding financial results, at that time.
BPMX_ismyjam, nice DD!
This dude diligent investor came across this link.
http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&u=%2Fnetahtml%2FPTO%2Fsearch-adv.htm&r=1&f=G&l=50&d=PTXT&p=1&S1=BioPharmX&OS=BioPharmX&RS=BioPharmX
BioPharmX Receives IRB Approval to Initiate Phase 2 Trial of BPX-04 for the Treatment of Rosacea
Open-label feasibility study results identify BPX-04 topical minocycline gel, 1% as optimal dose for phase 2 trial
MENLO PARK, Calif., July 31, 2018 – BioPharmX Corporation (NYSE American: BPMX), a specialty pharmaceutical company developing products for the dermatology market, today announced it has received Institutional Review Board approval for its phase 2 study of BPX-04 for the treatment of papulopustular rosacea.
The company also announced that, based on data from its open-label feasibility study which assessed tolerability in subjects with papulopustular rosacea, it has selected the 1% minocycline concentration for use in the PRISM phase 2 trial to evaluate the safety and efficacy of BPX-04, continuing in its patient-centric commitment to antibiotic stewardship by utilizing a lower dose of antibiotics for patients.
The 12-week, open-label feasibility study assessed the tolerability of BPX-04 topical minocycline gel in 30 subjects with moderate-to-severe papulopustular rosacea. Once-daily administration of either 1%, 2%, or vehicle was applied to the face. All treatment arms were well tolerated and there were no serious adverse events, further demonstrating the patient-centric benefits of the BioPharmX HyantX™ delivery system underpinning BPX-04.
“Optimizing delivery to the source of the disease, while minimizing the risks of oral antibiotics in patients with rosacea, has the potential to influence better prescribing options for dermatologists,” said Dr. Neal Bhatia, a board-certified dermatologist at Therapeutics Clinical Research in San Diego and the study’s principal investigator. “Dermatologists have long desired a new topical antibiotic option that minimizes the risks of systemic side effects while not contributing to the bigger issue of systemic antibiotic resistance.”
Dr. Bhatia highlighted BPX-04 data at the recent American Academy of Dermatology Summer Meeting in a presentation called “Therapeutic Update” in Chicago. Long-term safety and efficacy, as well as treatment strategies with these new regimens were also discussed.
The National Rosacea Society describes rosacea as a common, but poorly understood disorder of the facial skin that affects an estimated 16 million Americans, many of whom do not even know they have the condition. Rosacea is characterized by facial redness, pimples, bumpy breakouts, and thickening of the skin.
BPX-041 is the company’s second candidate utilizing the novel, patented HyantX™ delivery system, which is designed to stabilize and solubilize hydrophilic molecules in an anhydrous gel environment. This delivery system is being developed to carry a variety of active ingredients – and even combinations of actives – into the skin. Research has shown the delivery system may allow for maximum solubility for multiple actives, which is intended to lead to enhanced skin penetration and increased efficacy and tolerability, has antibacterial properties, and hydrates the skin, making the delivery system a valuable asset in pipeline development and strategic partnering.
Partnership or Offering?
They have the Indication Of Interest offers to partner up, but would rather go in at it alone.
So where did the last offerings take us?
April 28, 2017 BioPharmX Announces Closing of $5.0 Million Offering
Price went from $0.83 to $0.46
link
November 21, 2017 9:08 AM BioPharmX (BPMX) Prices 73.5M Share Common Offering at $0.15/Sh Price drop from $0.29 to $0.10
link (go look on a yearly chart)
All the while adding more shares and lowering the overall value of the company!
Yes, this is how a research and development company funds their research and day to day operations.
But we have (IOI) interests!
We have partnership offers lined up! Anja and the board want to look out for themselves, not the Long investors!
Vote No! Make them lock in the partnership!
Common stock $0.001 par value.
450,000,000 shares authorized
191,518,731 and 160,062,509 shares issued and outstanding as of April 30th 2018 and January 31st 2018 respectively.
72,109,994 shares of common stock authorized and unreserved for issuance.
So what is this company really going to be worth?
So 450,000,000 shares times $2.22 makes this a billion dollar company!
Maxim Group already downgraded us due to the shares being increased, to a value from $3.00 to $1.50.
So where does that put the company value now? A $675MM dollar company.
Now increasing the shares that the company wants to add, let's say half of the 450MM shares. Well Maxim Group will most likely down grade us to $1.12 and fully diluted to $0.75!
So bust out your calculator and times your shares by the above numbers. Where do you want your stock value to be?
Vivo, Franklin, and any heavyweight investors will surely see their investment cut in half as more offerings pop up.
Vote No! and let's get the partnership deal done!
No Reverse Split, No Additional Shares!
Don't fool yourselves. This company has received partnership offers! Why aren't they jumping at them? The board feels threatened about a partner that may want to bring their own people in to start running things.(IMO) Anja and the board are making a pretty good living where things are at now, why do they want to change that, right?
This is a research and development, small cap company! They don't have the funds to take it to market! It's time to bring in the partnership with money and Wall Street investor connections!
Heavyweight and Long investors, including myself, have already been through this dilution game to fund their research. As a heavy shareholder, you can only average down so much or continue to throw so much money at the same investment all but to see it drop to these poorly managed levels.
It's time to sign the deal! It's time to hold their feet to the fire, and get a partnership that brings in the funding and connections needed to restore confidence and value to our investment!
Vote No!
So what will the "yes" vote get us? Let's look at Trovagene.
Here is a company that on December 15, 2017 announced the pricing of a public offering for $0.30 per share. proof here So they were at .30, close to where we are now.
Now fast forward to May 31, 2018. This is when the company announced a 1-for-12 Reverse Stock Split. proof here
So where did that put the stock price? It put the stock price on June 4, 2018 at $2.49 (After the Split) and the very next day, June 5, 2018 at $2.13, and where is the price today? $0.75! (Google search the stock price for your proof)
Don't kid yourself, they will have to reverse split, especially if they don't sign with a partnership. We cannot close below $0.06 in fear of being removed from the stock exchange. At $0.20 we are already too close. With a yes vote, we will see the share increase by double to 900MM or an additional 450MM approved shares followed by a reverse split. It will most likely mirror Trovagene and their outcome.
Why haven't they partnered up before this shareholders vote so as to be seen only a safety net? Why haven't they started P3 for BPX-01? Funding! That's why. They are weighing their decision based on your votes coming in. Partnership or Dilution?
They know where the vote count stands. The board or Anja may be feeling the concern of change coming. Other message boards have stated phone calls from Alliance, a proxy solicitation and corporate advisory firm whose purpose is to sway your vote decision. I'm not sure if BioPharmX is actually taking these measures or it's just message board banter, but understand that an increase in shares and reverse split, is not going to be good for any big money, long investor here!
As far as the vote solicitation, I'm not sure if that would have had to been disclosed to us or not. Here is a link here that answers under a Q&A between page 3-4 from someone else who used Alliance.
Longs, protect your investment! Vote No!
MEDIFIRST SOLUTIONS ANNOUNCES COMPANY UPDATE
Freehold, NJ , July 25, 2018 (GLOBE NEWSWIRE) -- MEDIFIRST SOLUTIONS, INC. (OTC: MFST) (the “Company” or “Medifirst”), a provider of innovative laser technology and specialty pharmacy drug and management consulting services is pleased to announce a shareholder update.
As recently announced, Concierge Concepts Rx (CCRx), a new division of Medifirst Solutions will provide a unique niche billing and specialty drug consulting service to independent pharmacies who are struggling to maintain profitability as well as regional chains and supermarket pharmacies seeking to incorporate specialty drugs.
As part of adding this very exciting division to Medifirst, the company has worked with the management of CCRx to drive various operational developments. Medifirst believes that it has driven past the ‘proof of concept’ stage of CCRx’s development and that it is in the best interest of the company to further align the interests of CCRx’s management with that of Medifirst. Accordingly, on July 23, 2018, Medifirst effectuated a corporate action that sets the foundation for a new capital structure to support CCRx’s growth through strategic partners and co-venture opportunities within the industry.
Commented Medifirst President Bruce J. Schoengood, “Since inception, Medifirst has never initiated a capital restructure but we believe that, with the addition of CCRx and the opportunities in the specialty drug sector, Medifirst can significantly benefit and bring much greater value to the company and its shareholders.”
The Company plans to make a formal announcement and provide more details in the upcoming days.
About CCRx
CCRx services of pharmacy consulting and revenue stream management, utilizing over 60 years of combined specialty pharmacy and infusion therapy experience, seek to increase profits for these pharmacies. Our contracting services will include: sales, patient care, operations, and navigation of the complex landscape of major medical insurance billing. The division will provide key services to undervalued clients by securing reimbursement of overlooked revenue within the ever-expanding market of the specialty pharmacy market in today's healthcare system.
CCRx is dedicated to expanding retail pharmacy into the emerging Specialty Pharmacy market and opening revenue streams to promote market competitiveness and profitability. Expertise includes: Specialty and infusion pharmacy consultants, billing expertise for Specialty Pharmacy products, third party billing provider and services, authorization analysis, experts with 60 years of combined specialty pharmacy and infusion therapy management.
Specialty drugs, often described as prescription drugs that are difficult to manufacture and require special handling or administration, have limited distribution, target a narrow group of chronic diseases, are costly, and require ongoing clinical support, will drive nearly all the pharmaceutical industry’s market growth from 2015–2020.
Industry analysts projects the total pharmaceutical industry to exceed $483 billion in 2020, with specialty pharmaceuticals making up 44% of the revenue. If these projections hold true, specialty drugs will have increased their revenues by over 5X from 2010–2020, growing from just 15% of the market to nearly half in that decade.
https://globenewswire.com/news-release/2018/07/25/1541935/0/en/MEDIFIRST-SOLUTIONS-ANNOUNCES-COMPANY-UPDATE.html
Yeah, that's a tank of gas (almost) lol. Damn, 3 times? Well hopefully make it 3X back soon.
GLTY
Appreciate the reply. Didn't mean to knock the stock, just posted after I found out about the "mandatory reorganization fee" from my broker.
I'll keep my eyes out for the news.
You too? TD with the same fee. I should have cleaned up my portfolio sooner I guess. Any news expected where I can get off this train wreck soon, or should I be waiting for something? (Sorry for my laziness, haven't been up on this one for a while).