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If you are relying on technicals or charts to determine ARNAs stock price, good luck. The stock will continue to rely on scripts for the time being. Shorts will spin it however they can to control PPS.
What lawsuit do you refer to? The class action suit? It's a nice timeline with substantial detail. A good layout of events at the time. But I didn't read anything that would indemnify the company. So the lawyers track down three former employees with what appear to be personal gripes and opinions? And I like how the lead plaintiff was day trading PPHM up until the announcement.
Also, please substantiate the comments in your previous post #132193 about every cc for the past ten years about reserving Avid for commercial product.
Something about the pause Steve gave when replying to Joe about the new indications has me wondering. Did anyone else hear that? When the webcast goes up I'm going to focus on that point in the question. It almost sounded as though Steve was stopped by someone before he went too far in his answer.
And someone ( I think Paul) chimed in about Peregrine being $10M of Avid's business that was not recorded as revenues. That seems to be a large amount of inter-company business (34% if I am doing the numbers correctly). Where is all the bavi going?
It is different language, isn't it? The frontline was all but dead per the other PR. Now they are "evaluating options for moving it forward?" Did a potential partner change their minds?
We'll be lucky to surpass 2 Million shares in volume today at this rate. Little interest.
Short position up another million shares as of 6/28:
Settlement Date Short Interest Avg Daily Share Volume Days To Cover
6/28/2013 12,882,529 4,112,951 3.132186
6/14/2013 11,848,918 2,751,147 4.306901
5/31/2013 10,936,051 4,552,703 2.402101
5/15/2013 11,068,278 1,659,755 6.668622
4/30/2013 11,556,843 1,929,305 5.990159
4/15/2013 11,988,907 1,772,410 6.764184
Interesting that the reporting date was one day after PPHM's PR which sent the stock down to $1.11. The next short interest report should have some definite signals in there.
Message to PPHM IR:
Please update the CORPORATE FACT SHEET before the earnings release and conference call! It looks completely irresponsible to have it last updated March 2013 considering all the recent events reported. Send a message to investors that you care about them...
EBS
http://finance.yahoo.com/news/onyx-pharmaceuticals-confirms-receipt-unsolicited-160000166.html
"Onyx has tremendous momentum and, with the expansion of our pipeline and two successful product launches, the Company and our talented employees have created significant value for Onyx shareholders," said Dr. N. Anthony Coles, Chairman and CEO. "The Board and the management team remain focused on the opportunities in front of us, including the potential to expand the use of our existing therapies in different types of cancer and across different lines of therapy, as a result of several ongoing Phase 3 studies. We are actively exploring the potential to combine Onyx with another company as an option to create additional value for Onyx shareholders."
The recent offer from AMGN for ONXX would make things a bit complicated in the Bavituximab and Sorafenib study if things truly are going well in the trial. Or, I should say, an acquisition of ONXX would make things complicated. ONXX says the bid was not high enough because they had a partnership in the works. Hmmm, putting 2 and 2 together. I cannot link the timing of the recent Peregrine PR with ONXX, but I am sure the imagination can run wild in times like this. Here's that gut feeling again...
Yeah, I think many are anxious to "see it" considering all the questions raised about the company and trials. The latest mystery has been discussed in the previous 40 posts RE: survival events.
The bundled PR adds fuel to the fire. Why bundle the frontline with ATM in such a vague PR? It's because they are airing out the laundry. Getting ready for something big. That is what my gut says. The pieces are coming together. If TA is starting to indicate positives...
PPS is back in range prior to last week's PR factoring in dilution. Looking for a steady increase from here.
Some think Pfizer has more cash than they know what to do with!
How often does Sierra stick her neck out on the line and post a specific date? We've discussed before how Pfizer would be a good fit with Peregrine. Yep, having fun and dreaming! $8 billion dollar acquisition including cash and stock.
Okay, I just had a thought, what if the ATM move is a brilliant negotiation strategy? Let's say PL diluted us purposefully to get the going concern removed. But the side effect is more shares that BP would have to match one for one. And after Peregrine says "we'll keep going with the ATM until you match our terms."
WRT Timing of Yesterday's PR...
...considering all the shareholder lawsuits currently in existence one would think coordinating a bad PR for the purpose of institutions loading up for the Russell would be a very high risk, if not illegal, maneuver involving insider knowledge. The only thing that would keep more pissed off retail investors from coming at the company would be another PR that would make all the bad feelings go away
geocappy
It's a valid theory and, if true, it could optimize the PPS for shareholders despite the recent dilution.
Some are equating the drop in price only to the announcement of dilution. If that were the case we would be at around $1.35 (10% from pre-PR price).
Looking for an updated corporate fact sheet now.
Well, here's why I bought more:
My thought is the front line was compromised. It is really the only reason the 14 month control arm can be achieved in my opinion. But this time, the company is not coming out and saying it. Why waste the time and energy now. Second line was enough to get the phase III nod from the FDA. And...here's the best part... talks with BP must be close to done or are done. Why? Because the PR gives it away:
1. They raised funds to remove the going concern. This was not done recently in desperation as I originally perceived. This was done back in March/April.
2. Immunotherapy: The partnership is going to extend into immunotherapy. Why else would they announce this so subtly in the PR?
3. Conclusion of the frontline trial. Done abruptly. Again, why waste energy on it.
4. Other companies "clean house" before they get acquired/partner up. This, in my opinion, was the housecleaning before the big deal.
I bet we announce partnership before the July 11 cc.
"Useless"
Hey rev, that is the key word. The options are useless at this price. Why people keep harping on management for giving options is a smokescreen. Look at how many negative posters have come out of the woodwork since yesterday. Love those one liners that the company is done! But, after further review, the focus can now be put on 2nd line and immunotherapy. Going concern should be removed. Yes, time to move forward!
With that said, I sold some other investments this morning and bought 23k more PPHM this morning.
Cheynew thanks! Obviously he did not get the best price for the time period. It makes me wonder if the ATM has been tapped later in the period due to circumstances changing with BPs or FDA. Maybe Sierra was right about talks breaking down with Pfizer (said tongue in cheek!). Further explanation is needed on many parts but it is doubtful shareholders will get it if history dictates.
Carboat, I am using my last post of the day to recognize your humility in this crazy day. As much as I despise your kind of work, I give you credit for not twisting the knife deeper. I'll leave it at that...
Dia, if it is at all positive, why is Peregrine discontinuing efforts with front line based on these "preliminary" results? I get the 80% part. But it's clear the data was known months ago. Why wait until the second to last day of the first half of 2013. Just trying to understand the strategy of it.
IFU
I don't get why so many believe that PPHM Management has something behind the curtain to benefit the shareholders.
If the Front-Line MOS was 14 MONTHS. The Company outright held the TRUTH from the Shareholders to benefit themselves:
According to the Timeline, PPHM could have known the value around December 2012 because MOS would have evented in November 2012; however, I am not sure how long it takes to compute the data.
It does not make sense that it would take 7 Months to compile the data. That is half the time of the MOS.
The PR was not as informative as it should have been. As some have indicated, there is something going on here. Aside from the data results of the PII front line there is a discrepancy in PPS to the amount of dilution the company has created. If we can assume Lytle was able to get $1.50/share for the ATM (conservative in my opinion) then the dilution would have been another 16M shares. This is 12% dilution. Meanwhile we have a 20% drop in price? If Lytle got $1.75 it is 10%. Does front line have that much impact to PPS?
Management credibility was suspect before this PR. This incomplete PR is only making things worse.
BKT, if we do not get further clarification about this PR you can count my 72k shares in on your coup to overthrow management.
The short stats make sense due to the Russell rebalancing effect. Short any newcomers to buy at artificially deflated prices knowing volume would pick up. Give 'em credit, it takes balls knowing what could come out of the company in the time. A gentleman 's agreement to not PR? Could be a way to get institutional support in the future.
NOTBOB
I agree. Anyone truly trying to prohibit efforts to wipe out cancer has got to look in the mirror and live with it. Ironic isn't it? Good people can die from a horrible disease while horrible people live.
Another out of the box thought :
First line results are so good that BP wants to buy Peregrine outright. They don't want results publicized and Peregrine has given them until June 30th for best offer. If we're sleeping we might as well be dreaming!
Volume already near the recent daily average. Where are the bashers? They disappear when PPS swings up. It must pain them to see their desperate weekend work go up in flames so quickly.
Yes. Especially if you put your reputation out there and raise your projection. Then I would think you are going to ask the right questions.
Probably the fact Peregrine has not gone bankrupt like some predicted 9 months ago when they first joined IH.
"Floundered"? Please explain what you mean by this. The way I understand it the company took the handicap of the dose switch and still outperformed. The FDA didn't recognize the results as floundering did they? Maybe those who don't want bavi to succeed see the results as floundering - or at least want to give that impression.
As stated before, the company's future is not hinged on 1st line results. Did you not see the success of previous trials?
As a non-science guy, when I read that each bavi molecule needs to grab two B2GPIs in order to attach to PS my first instinct was to consider the 2nd line NSCLC trial. Of the three arms in the study, the one not tampered with was the 3mg arm. Was the 3mg dose too much bavi therefore overall results could have been even greater than what they were had the dose size been more proper to the available B2GPI? What I mean by this is could 3 Mg be too much bavi so only one B2GPI would attach to many bavi molecules and not have the same impact as say, a lessor amount that could optimise that number of B2GPI attached to bavi? Possibly the optimum level is closer to 1 Mg? And, therefore, knowingly or not, the tampered arm was the one with greatest potential?
Um, the company's future is not dependent on 1st line results. Look at the three ASCO presentations and the positives derived from that. I know, I know autoship and his buddies will say look at the share price since ASCO. But I am not naive enough to not see what is going on. Share price DOES NOT represent value of Peregrine.
Interesting concept. I hope the scientists working with PD and PS see it that way and at least make a conscious effort to test the idea.
Interesting concept. I hope the scientists working with PD and PS see it that way and at least make a conscious effort to test the idea.
Porkchop
The lid is put on to prevent optimal financing. You can guess who represents them on this board.
Where is the guy when you need him? Pfizer board?
Phew! Thanks for making sure the rest of us are aware. Maybe another anti-bavi article is needed. My brother's bosses sister said not to buy gold back in January. Just sharing some investment advice in return.
Agreed. When the company shed themselves of the loan the PPS dropped. So one can correlate the loan with increased/decreased market cap. Why? There could be a variety of reasons but a partnership in the works could be one of them.
Bio Matt won't be the last. We'll see more come out of the woodworks. Peregrine and bavi are on the hit list. Everyone needs to ask themselves why that is. If bavi is a placebo why all the attention? If bavi has no effect, why waste time with it? If Peregrine is so destined to fail why write articles? Why pay someone to spend their weekend blogging against the company? Why have someone sabotage a trial? Why stick around and whine in frustration?
Eastcoastguy
Good perspective. I guess it was rhetorical to ask why a $200M biotechnology (where most of it's current value is derived from the manufacturing branch) has gained so much attention from naysayers. That just says it all, doesn't it?
Hops Javier!
Glad to see you here. Thanks for the tip about Pfizer negotiations with Peregrine. What a great fit for both!