Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I don't know, but I think this company has something worth much more than
$2.68 a share!
if we do make it into the green today, i would say that whatever news is forthcoming must be legitimate, pps-altering stuff for us to hold onto this elevated pps. especially after yesterday's blast-off complete with second stage boosters firing on cue.
This is the real deal. Talk of a "gap" back to $5 is going to leave some regretting selling when it clears $5 and goes into the double digits. One thing King said 6 months ago was "astronomical value." We are probably going to test his theory.
BCS: I wasn't sleeping when I heard that. But I did have to rewind the tape to see if what I heard was for real!!!!
Guys, don't get too full of yourselves. We all know PPHM is not going up because of King's speech. And keep in mind, some of us are on the same team as you. Nothing wrong with being critical of a CEO presenting. Lot's of folks were lulled to sleep last week.
Sure would be nice to close the day after blasting through the current HOD. $2.50 would be a good close!
Whatever gain today will probably be followed by 10% gain tomorrow in anticipation of Friday's cc and earnings. Of course, if anything is released prior to that the sky's the limit.
12 million shares trading on no news does not happen without someone "knowing" something. This is fun! It makes up for those days of sitting in the $1.30 duldrums.
EDIT: BCS, I still think King is not a good speaker. I always wanted him back in the lab. IMHO!
With 4 times the volume on Bid vs. Ask why did PPS only increase a penny from the base of $1.90? ATM should not be used with $80M cash on hand and high hopes after March. Someone was capping PPHM at 1.91
In my layman's opinion, we can afford to double the market cap to $600 mil, which imo, is exactly where PPHM's current status should stand in value, based on AVID, Cotara, BAVI, Phase III, Pipeline and cash.
$3.80 to $4.00 share price is not unreasonable and I think it would still be a reasonable entry price as an investment prior to pre- phase III look ins.
I suspect we are getting set up for a very perfectly shaped "V" for PPHM today. Maybe we close at $1.90 but we'll probably visit $1.70's again. Bold to say the least. But if you have no expectations for Friday, it doesn't hinder that type of activity.
Stoneroad, I don't understand where you are going with the following statement:
I think it may be fair to say that running the ATM was a pragmatic move given present circumstances.
PPHMP Preferred question: Does anyone know the closing date of ownership to receive the April 1st dividend? The SEC document does not specify a date. Is it a standard number of working days prior to the dividend date set in a SEC RULE? April 1st is coming quick and Peregrine will need to pay out it's first dividend (short of $500k in my estimate).
Edit: Dia, I agree about a possible announcement for Cotara partnership this week. Either that or imaging update. I don't expect too much with Bavi.
How much would a settlement with CSM gain us?
Highly possible. Maybe there were 4 people in the room as was jokingly observed. Maybe Steve saw that and figured he would give a highly factual yet dull presentation knowing they are about to grant options. If this is the case, is there not a window (before earnings release) where options cannot be granted? Or, did it happen yesterday and we don't get the filing until Monday? Either way, it seems they would not get the PPS to start it's northbound progress until those options are granted.
My condolences CJ. Be strong!
The only non-positive reason I can see with the timing of the earnings and cc is that with all the events going on it could be the only time in all the schedules that works. And that is not a bad thing! Looking forward to next week. Today has started out in the right direction.
Dr. King only once mentioned the word "PARTNERSHIP"
during his presentation at RBC Capital.
He mentioned this word only when he was talking about "Cotara" (min. 2:30 to min 2:50)
Michael, I agree.
Its called professionalism and unfortunately IMO Steve belongs in the lab running that show not the CEO.
Hiring Stephen Worsley may have been one of the best things to happen to Peregrine.
March 17,2003: We currently have active partnering discussions for all of our technologies with numerous biotechnology and pharmaceutical companies.
When I read dJohn's post about "passion" I thought he nailed it! But you raise some good points too. Now, why couldn't it be argued a presentation needs both facts and passion? He, and anyone critical of Steve's performance yesterday, should not be regarded as negative. King obviously knows the science of Bavi very well. Other than Dr. Thorpe, there is really no other person with the same efforts put into the development of the Bavi-platform (although Brekken is surely catching up). Does that not deserve a presence of passion when speaking of Bavituximab and the supporting entity called Peregrine Pharmaceuticals?
Look, most here want a successful Bavi and Peregrine. Everyone has different expectations. For personal reasons, some want that "cure" to be available sooner. Some want the stock price to sky rocket and expect it to happen overnight. No one here can say the company gives out enough information. We are all seeking information. But please, don't make it sound as though you are at a higher level than the rest of us here:
Those of us who follow PPHM closely know that there is more to come!
Paul, good points! Someone posted the start of a great message yesterday (I tried scanning over the titles to find it but could not) about the value of PPHM. Your post illustrates a similar rationale and reminded me of it. I've touted it before, but it's worthy of bringing up again.
The market cap of PPHM is currently below $300M but I will use it to accentuate the possibility of Bavi (and in turn PPHM) being highly undervalued.
Current market cap: $300 Million
Cash on hand: $80 Million
Value of Avid: $30-60 Million
Value of Cotara: $57 Million
Value of Imaging: $10 Million
Based on the above information this would calculate to:
Value of Bavi $93-123 Million
Most numbers above are estimates. We know the cash on hand is $80M based on the presentation yesterday. Avid's value is derived from a factor of annual revenues and is admittedly conservative. Cotara's value comes from Frustrated's estimate. Imaging is purely an as is estimate. I know I am missing some other factors in the valuation but the point I am trying to make is Bavi's valuation is roughly $100 Million!
$100 Million for a phase III drug given Fast Track Designation in a Multi-BILLION dollar market.
If I were to go into an investor conference I would end the presentation with a slide with information similar to above. That would surely grab some attention, wouldn't it?
Dia, I assume one of the "many" you imply in your post means me. Yes, I think bavi has a vast degree of potential. But, yes, I think King is terrible at presenting. Just because many of us share this opinion does not mean we are bashing the company/stock. We can have a poor opinion of the CEO and his lack of presentation skills and still believe in the science and the company as an investment. I don't put blind faith in someone I don't know personally. You can, that's your right.
So, getting to your statement about having to decipher King's presentation to find the pearls. This is why King is a terrible presenter:
Thanks to sunstar and CP for pointing out the important news in the presentation.
Many seem to have difficulty with the spoken word in our age of texting!
Those who think that Steve says things accidentally are way off.
The written transcripts will back up what sunstar and CP are saying.
if you're a CEO for a BP, you hire really smart people to follow industry research for plums to gobble up cheap, don't you?. Do you think the kind of really smart guys who do this research are paying more attention to what Peregrine has to offer to your company or whether the spokesman can emphasize important points. I think the answer is straightforward.
I honestly don't know how someone can defend him as a great speaker/presenter. He's done this same presentation how many times? And he brushes over the most critical elements like they were insignificant. Ugh!!! The science, once again, will have to succeed despite the CEO.
King discussed the preferred package, but said nothing about what it was intended to be used for. Why the urgency with the ATM in January?
VISION: Can anyone give us an indication of King's vision for Peregrine?
We agree that King is not the best presenter (based on listening via the phone/web). I prefer to hear Worsley at these investor conferences. Either way, more interestingly will be his verbiage related to partnering/collaborations. With $85M in the coffers and potentially much more with the balance of preferred, it seems they are setting up to go through phase III alone. This may be the position the company is taking to negotiate better terms.
I have given much thought to the dollars gained by ATM and Preferred. Peregrine has said they want to partner, but retain all U.S. rights. Is it possible, the dollars they have raised recently are a show of force that they can go it alone 100% merely to gain that ability to retain U.S. rights. It could be a sticking point in the negotiations.
Good question. I fall back on my hunch that the CA is keeping Peregrine from moving forward too quickly. Huh, imagine that. Just by design.
Tuesday is as good a day as any. Plus, if you look at the Mayan calendar it predicts the coming of a great winged bird on Tuesday.
I cannot wait for the day when PPHM shareprice can no longer limit the speculation on this board. Maybe Tuesday?
Love it Krak!
Multiple collaborations/partners adds to complexity. Complexity takes time. We can be patient while the wolves cry fowl. Our time is near!
Can you tell I am standing in line at an amusement park?
And we don't know why they even used the ATM this time around. That has to be very frustrating for someone who is openly frustrated with the company. My thought is there is an underlying reason tied to upcoming positives we don't even know about but we shall soon understand.
Keep in mind, the person calling the lily developments a bavi killer also was the one calling bavi a placebo. Then bavi was granted FDA phase III go ahead and recently FTD by the FDA. That person's opinion is becoming more meaningless.
Announcing the attendance of conferences Peregrine has attended in the past hardly seems a catalyst for 10% PPS increase. Something else is in the works.
So far, so good. Time to test $2 again.
PW
I wish it were inside information but its all speculative at this point. We knew Marsten was going to be done today. We knew preferred shares were going to be complete yesterday. We have speculated that Marsten was going to get the options before he left. Midday volume all of a sudden spiked at both the bid and ask. Information usually starts to circulate around 10 o'clock. So it was just a matter of putting puzzle pieces together. As we have witnessed nothing is panning out yet. Sorry I can't be of much more help. Last post of the day for me.
Well, it's 10 AM EST and news of the employee options should be filtering around the market. Whoa! Look at that! The bid/ask volume just spiked up. Marsten retiring and getting a little bonus on his last day with Peregrine. This should be the proverbial bow on the present to shareholders.
If bavi is approved, ASTRONOMICAL!
If one takes a step back and looks at the recent financing it doesn't look like a company that has a lot to leverage. They do a 10% dilution with ATM shares just before doing a preferred launch? I don't buy the fact that the ATM sure were to keep the going concern from being an issue. They had plenty of time and cash to bridge the gap until the preferred deal closed. Was there not enough confidence that they would raise enough preferred share dollars?
I am still of the mindset that the ATM usage was done for a reason outside of the going concern. Not that I am hinging everything on it but I have more hope in this speculation than anything else right now. But I would not be the least surprised to see March come and go without any PPS movement. Just how it is with this stock.
Another arrow pointing at March. I am surprised about this move. The company seemed adamant January was going to be the start date. Cause and effect. We only see the effect... now.
It is something worth considering but I doubt it. Nothing new was presented by the plaintiff. Why payout now when you could have settled 6 months ago. The lawsuit is obviously a guise to delay progress by Peregrine.
My last post of the day. I am still waiting for a logical reason for using the ATM with such urgency. IR won't explain it to me.
Right. The timing is not logical. If it's business as usual do they really need the money? No, they have plenty of cash on hand to bridge the gap to a preferred sell. The ATM use in January had some specific reason. The fact there were buyers at $1.75 to keep price level was also suspect.
Not to mention the circus coming to town...
CP, what are your thoughts about the use of ATM just before the preferred round? There does not seem to be any logic behind the move.
You could have had my shares on Friday for $20/share. A dozen long stem roses and a diamond bracelet for my wife on Valentine's Day and now I am uping the price to $25/ share for Tuesday only. It's a good deal. Believe me...