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If my memory serves me right, she made a statement that referred to Cotara that went something like:
"Just get the drug through Phase 2 and I will facilitate a partnership"
Unless I am going senile, that was the jest of her bold proclamation.
She fled with her tail tucked between her legs after failing to do so like a scolded dog.
King's famous partnership carrot went something like..." We are needing to see the FDA protocol for the layout of Phase 3 before partnering". Gave the fake impression that it was in the works. Another ruse that kept shareholders handing on.
At 29 pennies a share, the market has connected the dots that King's words are a punchline.
"These things take time"...Worsely circa' 2012...or whenever he attempted to lower the bar for completing a deal.
I'm with ya.
I don't believe a partnership is in the works at all unfortunately.
Leaks are the norm.
A real partnership is basically the only event that will right the ship. Anything short of that and we will continue to slowly circle the drain.
King simply has exhausted all his goodwill with the market for this lifetime.
A major shift is needed.
Nah...most likely just the downstream effects of the knockout presentation by Charlie Brown's teacher yesterday.
King really has honed the skill of firing up potential investors.
Almost time for the reverse split and a blank check to continue the shareholder destruction.
Do everyone a big favor and resign King. GOOD GRIEF
So the Russians "took" the next generation Avastin R84...
The Chinese and our beloved scientist Epstein "took" TNT..
And the shareholders benefited essentially zilch.
Yep...management has been awesome at providing good stewardship and deal making for shareholders in the past. Fantastic track record. History just keeps repeating and repeating...unless you factor in Stanton and the other charade collaboration. Another sore subject. We did receive "shares" of Medipharm. Don't ever remember seeing them reflected on the balance sheet though. Probably just another ruse.
Almost forgot about the China debacle. King and Peregrine were left out of the ribbon cutting ceremony for the China launch and AVID was left in the dark regarding ever producing the antibodies. I wonder if our China PO box is still up and running.
I thought some outfit in Norway helped with the development. Not sure about the previous connection.
These were past endeavors that "went missing" never to be spoken about again...among others.
They are not fabricated projects. All were broadcast publicly.
The R84 next generation Avastin blunder is by far the most disappointing. Huge opportunity screwed up in my opinion.
It is not missing...merely hiding out with:
1) the biosimilar's Garick said was going well
2) the R84 results from the Russia trial for solid tumors that has been going on for a half decade
3) Bird Flu aerosol...should be available any day now
The pattern has been just to stop talking about topics/projects that didn't pan out then on with the next carrot.
At least we have AVID...minus the financial resources required to expand it.
Yep...gobs of money in the bank to quickly expand AVID, a well funded outfit to run countless I/O trials and way less outstanding shares would definitely suck about right now.
Greed, stupidity and the inability to spread risk years ago is the exact reason we are in thus sorry state right now.
Failing to secure a partnership with upfront money has resulted in a debacle. They failed to spread the inherent risk that is drug development...and shareholders paid.
Pretty obvious stuff.
He conveniently hides.
During shareholder meetings he pretends to be busy on his laptop...those are past reports shared here.
I take it you are a big fan of ES.
Alot of this debacle is on him.
That is the truth.
He runs the show behind the scenes.
Reward for failure...King et al wouldn't have it any other way.
King just looks to be going through the motions now with his nth dog and pony show that has yielded close to nothing after a decade of this.
The partner bluff doesn't hold water and the market senses it.
King says Astronomical...market places a value of zero on the tech after all this time....even after some promising pre-clincal results in I/O.
Which is it?
I still believe it has a place in the I/O mix but it will die on the vine with this groups approach towards advancing it. Limp along small trials that take forever to enroll is a time proven failure.
Charlie Brown's teacher giving another pep talk adds little value.
We desperately require another front man and direction...someone that can bring real enthusiasm to the platform if there is any value to be realized.
$75M market cap - $40M cash - whatever AVID is valued at = 0$ value of PS
That is why we are facing a reverse split...it is not uncommon to partner based on pre-clinical..if the desire is there...or has the real value of the PS technology been determined to be zero. Perhaps that is what we are coming to realize.
With the track record these guys have, l will go on record with saying the current "silent treatment" by management is more concerning than reassuring.
Outside of AVID, what exactly is their business plan? Whatever it is, at 29 pennies a share, it doesn't appear to be all that well received.
"Laughing Sounds"
I believe they need approval for a 1/10.
At this rate, the reverse split will provide a very temporary fix and will be sub 1$ shortly thereafter the 1/7. Fools are getting slaughtered.
Voting in favor of incompetence has extreme consequences unfortunately.
What a wreck these jerks have created. Wall street shorters are pounding this company into pudding.
Where is that "why buy PPHM" laundry list when you need it?
Complete herd of scumbags.
It is perplexing how this is even legal.
The deep seeded greed and complete lack of accountability is epic. They are basically devoid of any conscience and morals. Defense of their actions and behavior has turned into a joke.
That accurately describes our leadership team.
The worst of the worst. Jake has posted their ranking.
Fund managers run the other direction like the family leaving the house at the end of The Amnityville Horror movie when considering investing in this group. The shareprice suffers by not having more shares in strong hands.
Why in the world should the CEO be allowed to keep his job presiding over his second reverse split. Nothing is ever his fault...nothing. He gambled with shareholders resources, foolishly swung for the fence by not partnering and lost bigtime.
His astronomical assertion and the markets valuation dislocation of the PS tech at esentially zero a decade into this PS exercise is beyond rediculous. We require a CEO who won't just continue to talk how undervalued the stock is but lay out a plan to quickly make that a reality. King has failed and isn't deserving to move the company forward regardless of the promising AVID prospects.
If PS has any value, and the market continues to value it as essentially worthless under this regimes control, then King needs to step aside and oversee AVID in a reduced capicity. Enough is enough.
King...announce your resignation so the the short stranglehold on the shareprice can finally end. SHORTS ARE LAUGHING AT YOU AND ARE WREAKING HOVOC ON THIS COMPANY. The disconnect between the current market valuation and where we should be is on you.
Now you wait one minute....
They are doing all they can to prevent a second reverse split on their watch and have communicated a plan to do so as plain as day.
What these guys have been allowed to pull off and continue to get away with is deriluction of duty on steroids.
They deserve to be marched out of Tustin on the receiving end of a pitchfork.
Have they legally breached their fiduciary duty? It is not to far fetched to believe they have in my opinion.
What we are witnessing goes beyond just poor decision making...it is darker than that.
Chey...I believe with a very high degree of probability that these guy's have walked away from countless partnership offers over the past decade.
That is what my intuition is sencing.
All these talks and not one single reasonable offer...2 + 2 = 5 logic
Rest assured, King and company sleep just fine these days.
And to think, this reverse split and pending investment destruction was avoidable had they chosen to partner "something".
Somewhere between a zero current market valuation for the PS platform and Kings "astronomical" proclamation lies the true value.
The market is signaling that we now own shares of a manufacturing company with a bloated overhead structure and poor leadership.
Welcome to PPHM shareholder HELL.
All Hail the King!!!!
The only way to get King to come out from under his desk is to announce that management is having a meeting about bonuses.
The definition of what constitutes a year takes on a life of its own here.
Remember Kings "Partnership in a year" paraphrased comment that got dissected like a 7th grade science class frog?
95% stock price reduction, no real attempt to rectify the share price mess created, more silence and nobody gets fired.
Lovely.
2018...is gonna be our year.
Can't win the I/O combo race and cash the winning ticket with "King of Talk" picking his nose in the starting gate.
If any group can squander a potential opportunity...it is the underperforming Club PPHM members.
They simply are to entrenched in their warm bathtub they have created for themselves to actually do their jobs and get the PS platform in capable hands.
Thus the criminal labels hurled their direction by many infuriated shareholders here.
The starting gun to I/O combo trials went off a while ago and King is still in the starting gate picking his nose sitting atop the PS horse.
No hurry...all is well.
Unfortunately...it most likely will benefit the share price about as much as the previous biomarker "stat sig" announcement.
PS technology in this groups control is less than worthless according to the street....partnered and we get a whole different valuation.
What exactly is it going to take to arrive at 100% compliance disgust mode with the few remaining stragglers? I suspect it will follow the first crushing ATM after the RS.
Until these self serving bums change course and partner something...expect more of the same.
AVID's future profits in (2018) will most likely be diverted towards small trials that never fully enroll and become obsolete mid stream because of newer and better treatments coming on line by well funded outfits who operate with a sense of urgency.
Don't worry, their closet full of carrots is packed.
Can anyone share King's game plan that he has been working so diligently on to avoid the second reverse split on his watch?
I appear to have missed the short term goals that management has laid out to get us over $1 in time before we walk the plank. ..besides hide and don't field questions on conference calls.
Stoxx....the clarion call of worthless management is coming from those posters that have been here from King's inception.
Ignore them at your own peril.
They require a well funded partner yesterday. Either the technology has enough value for some outfit to throw $100M at Peregrine to start funding combo trials or they are just kidding us and themselves as to the potential value of the PS platform. Saying they don't have enough data to secure a partner now is simply a ruse.
Small investigator sponsored trials simply won't cut the mustard at this juncture.
They are out of viable excuses for waiting any longer.
That is the reader's digest version of where we are in my opinion.
The rest is just sail boat fuel from King and company.
Paul...I just see no alternative as to where to resources are going to come from. Profitable in 18 months doesn't necessarily equate to swimming in gobs of money to fund expansion.
A partner would kick AVID into 5th gear real quick.
As we say in the accounting world, the numbers don't lie.
Their apparent plan is to delay expansion until after the reverse split and kick the dilution machine into overdrive with a mountain of fresh new shares. AVID 3,4 and 5 will only occur at the expense of current shareholders with crushing dilution.
I just don't get the feeling a partner is patiently waiting in the wings to fund said expansion. It is just wishful thinking at this point.
It is just how these guys roll unfortunately. The rancor of many recent posts reflects everyone's past experience with this group. We have seen this trick before unfortunately. Keep everyone calm, hopeful and in their seats that they are doing everything they can to avoid the reverse split..which couldn't be anything further from the truth...while our investment gets unnecessarily crushed as a downstream result early next year.
The sad truth is that the pending shareholder destruction is completely avoidable with competent leadership.
We need a new CEO now.
There goes that "C" word again...
Instead please consider using:
Morally bankrupt
Corrupt
Deceptive
Dishonest
Self serving
Let's not exaggerate. There...fixed it. Everyone should be happy now.
What others may classify as absurdity might be the defense of management's job performance when gazing at a stock chart under this regimes direction.
I would bet, that if King would announce tomorrow that he was transitioning to head of AVID and plans to have a new experienced Biotech CEO in place in 90 days, we would vault above 1$ just on that news alone.
The drag on the share price by this group is enormous and obvious. There are no other variables left to explain the disconnect.
You get a star for the day.
Thank you so much for your effort and sharing what you forwarded.
Imagine the share price as a result of a partnership without King and company controlling the company.
The jubilant conversation would consist of the upcoming high powered combo trials instead of the misery and despair that results with reverse splits and further dilution.
I know which senerio I would prefer.
Bio..
Perhaps they have all voted with their feet as a result of their disgust with the direction of the company.
Wasn't that a strange CC?