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$1.47 may be too thick a wall to surpass. Upper BB break through would cause havoc and panic on the short covering occurring.
Not surprisingly, CMF for PPHM went green today. ATM sales, huh? I side with the thought of hedgefunds buffering their short -covering. Smart move ahead of the cc. Slowly accumulate shares in the $1.30s. When price action turns north put a big block out there for sale a penny above your cover price. All or none. This dissuades buyers from moving PPS upwards. In the meantime, retailers who are willing to sell for a penny less than ask do so without knowing they are covering the hedge. Once you cover enough shares pull your sell out and let it ride. Unfortunately, it doesn't ride too far before another HF comes in to play.
Not surprised who the Patriot fans are...
There are some nice buys at the ask, like 40K a minute ago.
Okay, so dumb question, does Peregrine know about this? If so, why not capitalize on it? PS sounds like the answer to many health problems. GJH and his theory of "fountain of youth" may not be that far off after all!
Stoneroad, you could be right. There is considerable resistance lately - both at $1.40 and on this board. I'm glad the stock closed above $1.40. The chart towards the end of the day doesn't look so ugly. PPHM chart that is. The daily one for those of you who may not know what I refer to.
Wook, tic, yes.
My apologies honestabe, I mistook you with another poster who likes to drop driveby bombs without much clarity. The chart you referenced does look as you said it to be.
Edit for Wook: Does a blackout prohibit the company from utilizing ATM?
It sounds as though you and I are on the same page. I have a high confidence in the science(both bavi and cotara), but want to know how Peregrine's management will execute a shorter-term plan than was expressed in the last investor conference. Realistically, the odds of making a point to the management of any company, not just Peregrine, in a proxy vote is fairly low. But I don't mind being on record with my opinion.
As far as Phase III for bavi goes; if Peregrine does have accelerated approval and feels they can go it alone then I am more than willing to support it as long as they communicate a plan with pretty specific details. Cotara, on the other hand, I suspect would be of higher value to Peregrine if they can do the Phase III without a partner. Obviously the focus is on bavi though.
Lastly, the large quantity at the ask today was one of two things: ATM or a large block to dissuade buyers from coming in. Strategically, it makes no sense to have quantities sit on the ask all day long unless an agenda was behind it. Today, price was capped at $1.40 so it worked. Otherwise, why not let the price run up to get a better selling price? There was no urgency in the selling.
When discussion of voting the proxy starts heating up, I must say I am more inclined to vote yes to management's terms if they at least put forth some effort to show us shareholders they have momentum brewing. With the stock manipulated as it is, saying the stock better be $X amount is nothing that can be "blamed" on management. However, if there is a status quo with regards to information coming out of Peregrine, then it would be difficult to convince me to vote my shares in alignment.
Somebody came up with the FDA needing PPHM to get rid of the going concern. Don't buy it, not their job.
Yes, bavi 's safety profile. But efficacy is there too. No doubt these two things plus adjustments like removal of going concern make it a high possibility of being expedited.
IFU and Toolong, I am with you there. How should King explain to shareholders at the ASM that Peregrine has accomplished all these positives over the course of the year and yet the intrinsic value of the company remains slightly above last year at this time? Especially considering last year was probably the low point of recent Peregrine history because of the dose switching in Fargo.
IMS has not released numbers yet. Recall who owns IMS. Now make your own conclusion.
Am I to interpret your post as saying our current share price is low? In fact, bottom? And thus I also interpret your saying the skies the limit because of the low price? Which leads me to believe PPHM has very little risk but high reward?
Thanks Cheynew. Good to have the update. Unless new information is brought in, this class action is frivolous. Cross one thing off the list now...
Considering the lawsuit was dismissed, I wonder if we'll lose one or more of our contrarian posters here...wink, wink.
Link to Leo Sun article if you cannot find it on MF :
http://www.dailyfinance.com/2013/08/22/is-this-experimental-lung-cancer-drug-back-on-trac/
Yes. Agreed. And if you look at the chart, PPHM is due for that volume.
Motley fool editors must have caught the article and reeled it back in. Sunstar, out of curiousity, was that you who wrote it?
Increased odds of something more positive? Like I said yesterday, we're due a high volume day according to the chart.
The partner discussions have always hovered around ONE partner. Who's to say we cannot have multiple partners? Possibly by region or other factor.
For the record, I am not opposed to "them " manipulating PPHM out of the mid - 1.50 range. The AH activity today is promising. My first thought was options. But tomorrow is clear. Must be some litigation news.
Resistance at 1.42 for now. We need volume. Maybe a verdict has been reached.
Glancing at the 1 year chart with the volume indicators below, I notice we are due for a spike. Here's to hoping we at least stay consistent in that one regard.
General in my opinion. It may be broader than oncology. GALE, INO, CLSN, ONXX up to name a few. The steam for Peregrine has cooled a bit for now. Feds minutes are causing some slumping today. Not that PPHM is ever effected by the broader markets... : )
Edit : it looks like GALE up for EU patent.
Edit#2. Here we go again. 40k at the ask.
A rumor is floating around of an oncology acquisition in the near future. A number of oncology biotechs are up healthily today. Peregrine in the mix.
Do you think it could be done in such short time-frame? Or are they just buying time for now? No wonder all the friends are coming out of the wood work pounding on the stock price. The embers must be getting some oxygen and the firm is starting to feel the heat - but know they have a short window of time.
And... imaging data is yet to be released. No wonder Bungler was so adamant about why we haven't seen data yet. How long does it take??? Good call Bungler!
If more options are awarded to management for a killer deal, good for them!
Naked shorts and reverse conversions. See what is happening with PPHM
http://beta.fool.com/toms119/2013/02/11/mysterious-trading-dynamics-virnetx/23921/
Tactic 42: play on fear of long shareholders when proxy is expected to be released. Suggest statements of further dilution, increased management options and even throw out the reverse split.
This comes straight from a hedgefund's playbooks.
PPHM is in play now.
Corp, not sure if you realize it but your complaints about the company /stock sound like boilerplate messages against every biotechnology stock (or any stock under $5 for that matter). Usually the rants come out when certain events are known due like Peregrine 's proxy. When it comes out we already know the chant : those greedy bod members!
It 's mid -August. Four months at most before phase III is started. Or it could be tomorrow. Give us a prediction again!
Yes, I believe so. Someone last week (was it you?) mentioned that the anticipated proxy statement with more options could be the impetous for the current stock price.
Edit : if two BODs were proposed it would shut some people up finally.
Depressed stock price. Low volume. Shareholder infighting. Ugly technicals. No presentations scheduled until November.
We got 'em right where we want 'em!
(All said in the guise of Hannibal Smith)
I can't argue there. If a shareholder can only speculate on what is going on with the company, why invest? You might as well go to a casino. We've gotten some morsels about the science, but I would like to know about the business side of things. When I worked in the corporate world before venturing out on my own, the biggest gripe from all my colleagues was our CEO could not convey his vision (if he had one we didn't get it) to us or Wall Street analysts. Thus, our stock price took a hit every time he spoke. When he finally retired, the stock went up 10% on that news alone. King is not as bad as this guy was, but he needs to communicate better if he wants investors in his ideas.
I am mixed about setting a deadline. I want the best deal for the investment, but some action after a full year of getting through the uglies would be nice to see.
Be careful patientlywaiting, if Peregrine is reading this board they may do everything possible to keep us disgruntled shareholders from attending the ASM (tic). Stock price may only be $4 and change by the time you need to commit to going.
Big, shareholders should certainly put pressure on management to move forward. Whether moving forward is through a partnership or not is the question. If, and only if, an acceptable deal is worked out can shareholders gain. I say this only because my perception of sense of urgency (as I have stated in previous posts) with King/management is lacking. However, we need to be careful not to get in the way. That is where communication from the company is important.
For the frustrated ones who look back 10 years and complain about the stock being lower now than it was then I reminisce on the days when Apple was $6, Amazon $30 and more recently Netflix $65. The world was coming to an end for those stocks... My how things have changed.
Yes, I agree with you there. The hiring is probably part of the transition plan for Garnick. He got them to Phase III, has the blueprints set up and can now bring in others to execute while he slowly steps away.
I was in THLD prior to the partnership. Volume dried up. Chatter on different boards dried up. Price started drifting down. Technicals were weak. Then...BAMM...the partnership was announced. I regretted not holding all my shares into that time. Peregrine is different, though. There is an entire platform behind bavi. If I recall, the market cap is similar to Threshold at the time of their announcement but Peregrine has too many other things going for it: Avid, Cotara, imaging, financial stability, etc. $10 stock price is a good target once partnership is announced.
Geo, you bring up a good point. All the activity going on around hiring should be an indication of the direction they intend to take Peregrine. Hiring quality candidates for the positions does take time, though. Couple that with the ever-changing job descriptions I would say we're still a ways off. Personally, I have always thought the new hiring was to take Cotara into phase III. But it is not discussed by management because they want to give the impression they are ready to "go it alone" with Bavi NSCLC phase III and use it as a negotiating tool if a BP does not give favorable terms.
Dia, I am consolidating posts again because of my limited access. Not trying to be a thorn in the side, but if I have to read the script of King's presentation as opposed to listening to it, doesn't that defeat the purpose of presenting? Should a skill of a great CEO be that of communication? I wish I were as optimistic as you about upcoming PRs. If Peregrine has been granted BTD and not announced it yet why would they hold off? Wouldn't announcing BTD to the public sooner, rather than later, give some validity to the Bavi program? And, in turn, raise the stock price and give Peregrine more leverage in negotiations? If they have BTD contingent on a few details why wouldn't they announce that? If so many companies with BTD acceptance have announced why would one think Peregrine is being asked to keep closed-lipped? I think these are fair questions to ask.
Dia, "on the cusps of partnering " was the only indication in the Wedbush presentation a deal is near. I've listened to it three times all the way through and some parts multiple times. King gives no impression a partnership is close. Either he has a very good poker face or he honestly has nothing on the verge.
Obviously the shorts know they have time to play with the PPS. There appears to be no imminent news ; liver results will most likely be announced in 2014, imaging is at least a month out, and the upcoming investor conferences will be more of the same. There will not be any surprises to force the shorts into covering.
One has to ask how Wedbush would know Peregrine is on the cusp or was it simply a comment to market the intro better? Hard to tell. But if you fast forward to the Q &A portion (tic) you realize the only question asked caught King off guard. People caught off guard typically answer honestly or get flustered. King, in my opinion answered honestly. No deal is near. Thus, be on the ready to pick up bargain shares. I will be.
CP and Dia, I am limited on daily posts so it's not until now that I get back to you. I appreciate you trying to quell my anxiety about the Wedbush presentation. As said from the very beginning, it was good, but not great. King's presentation doesn't change my mind about the science of it, just the leadership of the company. No, I'm not one to chant "down with the board!" or "down with the management!" but I do feel strongly that King has led the company as far as he can and it's time for someone with a bit more business savvy to take the helm. His presentation at Wedbush was a good scientific summary spoken to a layman investor such as myself. I'll leave it at that.
I think it's fair to move on instead of beating this topic to pieces.
With that said, knowing the price of the stock is manipulated any time after Peregrine presents or releases news I took advantage of the stock price this morning by buying more at 1.37. The science will eventually outweigh any pressures put upon PPHM by the hedgefunds.
2.0 progressing is great, don't get me wrong. But look at all the fantastic stuff Peregrine has going with Phase III NSCLC. King should be touting it! Describe how the study surpassed SOC by 60%. And say how it was 100% before they had to change their approach to a more conservative one. Sell it!
And, oh, by the way, the liver cancer study was a footnote in the presentation. Isn't it absolutely magnificent that they should have results as late as early 2014? Why didn't King emphasize it?
Breast cancer : yeah we had some good stuff going on there...
Is there any wonder why the only question asked of him pertained to partnership? Because that is what those people at the conference (and us shareholder s) want to know more than anything.
The most interesting of all will be the day in 2014 when PPHM converges with BMS not in Fargo... but in $$ PPS.
Jim, if they do read some of these posts, which I doubt, they need to start communicating how they intend to increase shareholder value. It's getting a bit frustrating to see King go to these investment conferences and striking out. They have approval to go into Phase III, take it to the finish line. No urgency in the company's actions nor communications. That gives investors the idea more dilution is coming. He needs to stop that. He needs to start talking about what is being done to increase PPS.
One last thing about the Wedbush conference: the guy who was introducing King/Peregrine stumbled with Steve's name and company. What does that tell you? I go back to last years conference and it's a much different atmosphere.
will not pursue pancreatic anymore???
It's pretty simple in my opinion. The presentation was good but the stock price needed great in order to propel it. King's non-chalance and lack of enthusiasm for some of the gems found in the data gave not enough confidence to investors. He had several opportunities to knock the ball out of the park but didn't - especially with the way he responded to the one question at the end (of which there was not intended to be Q&A). It obviously left us all wondering "what the heck?" Seems in line with the PRs recently.
Secondly, there just wasn't clear direction given. Tell us about the recent hiring. Tell us how the focus is clearly going to be NSCLC instead of initiating more testing and more analysis. Tell us something more than "we hope by year end." Tell us how many BPs are interested. Tell us more about the FDA PIII approval (BTD?, Look-in? etc.) Give us the impression you have a sense of urgency instead of we are here only to show data and then get on with our regular business. There is a lot that can be said that gives investors a confidence to invest or, in the least, put Peregrine on the watch list.