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No. That would draw attention to PPHM and folks might buy the stock which could cause the pps to rise. I don't think that's in mgmt's best interest yet. They need some more cheap options.
Has anybody heard anything on Duke delay? I heard thru a friend that there's some IP issues? What does this mean?
Just like the Hep C trial is put on hold while competitors gain ground. Look at VRTX over the last two weeks. $3.4 bil market cap. What else can be put on the shelf while mgmt flounders? Unfortunately the rest of the world doesn't stop when you run out of gas. That's why the technology needs to be put in capable hands soon.
We'll find out how this game plays out in the next two months. Mgmt has to raise cash either thru Avid sale or partner deal. We'll see whether the "We are talking" is just BS. If in fact they have to get shareholder approval for a reverse split, the mechanics should require some action by mgmt soon. I doubt they can pull off a R/S because the majority of shareholders want change in mgmt versus R/S. IMO, they have lost credibility. Could there be a forced sale in three months?
Yes and no. Many perfectly good small companies get bear raided and gang tackled just to bring down the stock for a short term gain for the shorter. Cramer talks at length about it. The SEC got rid of the uptick rule. Hedge funds control congress and the SEC. Things won't change until we get a new SEC leader.
The other long term implications of the shorting, if it continues, is that pphm could be forced to sell out to BP or BB, earlier than mgmt would like and at a much reduced price. The same folks behind the shorting could be accumulating and perhaps spoiling any attempt to regain Nasdaq listing. It doesn't take a lot of money to move this stock. Probably the cost of three viagra commercials during prime time. Unfortunately the evil forces out there know that not only is the sheriff sleeping, the sheriff (SEC) gets rewarded by the bad guys. Anybody see Cox testify to congress today? Sad sad sad.
Good question. Why would someone, with somewhat limited downside relative to upside on share price, establish such a large short position without either knowlege of the prospects of the company i.e. status of trials, or the status of a pending financial transaction or capital structure change (reverse split) in the company that would have a negative impact on value? From my review JP Turner is just the waterboy on the shorting.
I wouldn't be surprised if someone from the FDA was involved to aid Pfizer by delaying or asking for more info. I can just imagine an FDA worker (or relative such as son or daughter) going to work for Pfizer in exchange for stalling. Add congress and the SEC to the mix. Sorry but I have lost complete faith in gov in terms regulation and fairness.
Anyone speak with mgmt lately? Why is the Duke report not out? This REG SHO and JP Turner situation and all their recent activity in financing is cause for concern. I don't have a lot of confidence in mgmt after they did the last PIPE which they said wasn't in the cards. Is a reverse split coming? Can the bad boys keep the lid on the price and force delisting? What is mgmt's plan?
Very interesting. Three of the four you mentioned that made the reg SHO list had recent financial trasactions (within the last 2-3 weeks or so). CHTR did a $500 mil financing; CYTR did a private placement of securities and warrants and ENCY was bought by Pfizer. Just Yahoo Finance them and read recent press releases. Here's and excerpt of the Motley Fool article on ENCY. Sound familiar? Looks like JP Turner does some dirty work for some folks. What's in store for PPHM? I can only speculate but is there some trouble in Tustin?
At this price, Pfizer is getting a good deal on Thelin if it can get the drug approved in the U.S. and improve its label, like competitor Actelion is doing with its PAH drug, Tracleer. Don't get me wrong, though, this acquisition is also probably the best outcome for Encysive after it painted itself into a corner mismanaging its cash burn over the years.
Encysive's story is one often heard in the land of development-stage drugmakers -- and it's one that helps keep big pharma's pipelines stocked with cheap buyouts. It often takes only one misstep or delay for a cash-burning drugmaker to trip itself up and almost guarantees that shareholders will be forced to accept either a cheap buyout, huge amounts of dilutive financing, or an out-licensing of their top drug on unfavorable terms just to conserve cash.
Still on the Reg SHO list. What is mgmt doing about it given the company also faces delisting? I would be fighting delisting with the regulators by arguing the stock has been shorted and the regulators have done nothing to stop it.
Sorry to disagree but do the math. When they get milestone options at $.47, they make a lot more money than if it's higher. How many shares do the top four officers hold? My guess is there are many posters on this board that own significantly more shares than mgmt.
You keep forgetting. Mgmt benefits from a low stock price. The stock gets pushed down and mgmt awards themselves more options.
OT. This AM on CNBC Cramer and Art Cashion talked about shorting and how hedge funds have been raiding good companies and bringing them down. PPHM still on Reg SHO list.
We've got a delisting issue due to stock price and a regulation SHO issue which is depressing the stock price. What is mgmt doing about it from a regulatory standpoint? Do they really want to do something or is mgmt part of the problem? Where's our friendly IB? Are they part of the problem? Patience is running thin with the majority of shareholders. Mgmt could find themselves involved in a mutiny if they don't right the ship soon. I'm hearing rumblings from some significant shareholders that have the ability to initiate change.
I said ordained, not orchestrated. And since when did rules or laws matter with the SEC nowadays?
Looks like the shorts are back at it. Reg SHO don't mean $hit to the hedgies. They're more concerned with parking tickets than the SEC. Just watched Bush speak on housing. Do you see why they're not worried?
I agree it was an inside job. I have a suspicion it was mgmt ordained to help someone acquire cheap shares as part of a long term buyout plan. Could be wrong but mgmt has not been all that friendly towards the retail holder. Mgmt also benefits with picking up cheap options over the last 12 months. Someone is pulling the strings and mgmt knows it. All IMO. No JFK comparisons, please.
I don't think the lawsuit has been resolved. This thing could go on for years. Hope I'm wrong but been down this road before. I've won a lawsuit and got a judgement that's worth nothing. The lawyers won at the end of the day.
I'm not a Cramer fan but given he's a former hedgie and is somewhat knowlegable of what goes on, I agree with him on the lack of SEC oversight.
And hold your powder til the last five minutes of trading. That's when the games started on Russell rebalance day. Speaking of games, Cramer on CNBC said it's the wild west out there with hedgies shorting. That's what I've been saying for years.
OT somewhat. Cramer on CNBC talking about how hedge funds can short at will and bring companies down. Talks about how hedge funds can gang tackle a stock and bring it down for no reason other than to make a profit while the SEC does nothing. The hedge funds basically control the SEC.
You just said he has nothing. What would PPHM get? Sometimes the judgements you get are not worth the paper they're printed on.
Surprise, surprise, suprise. At least mgmt is consistent - with disappointments. That's why we need a change if they don't deliver soon. Otherwise delisting or reverse split. Do the shorts know something we don't?
PPHM still on Reg SHO list. Any bets on how long they stay on? Also look at how extensive the list is. Do you think the SEC cares or does anything about it? Too many small cap companies get bear raided by hedge funds. This really hurts small cap companies and ultimately economic growth in the country. Thank you George Bush for your lack of leadership. It will take this country 20 years to clean up his mess.
Naked short in trouble? You're assuming the SEC cares.
For once it's good there's no institutional interest. They can't dump what they don't have.
Given mgmt's very limited ownership position, I don't know where their interests are aligned. All IMO.
Thanks for reminding me. Another reason for the shorting. Could someone know a reverse split is coming? That wouldn't happen cause mgmt said so. Just like they said they wouldn't do another pipe.
Nothing because the SEC is defunct. It's the wild wild west where hedge funds rule.
Why would somebody short a $.48 stock. I know some will answer cause the percentage decline yada yada. IMO
1. Someone knows the news is not as hyped as billed
2. Delays are in the works
3. They can cause there's no support i.e. bear raid
4. Part of the accumulation game, destroy the will of retail hldr
And what is mgmt doing about it? Are they part of the game of transfering shares from retail to their future institutional owners by way of hedge funds?
T minus 4. Mgmt's credibility, what little they have, is on the line.
Looks like accumulation going on. No trades and than block trades while the MM's try to push it down.
My guess is R&R (or other MM's) will know if and when report comes out. I expect them to shake the tree before that happens.
Barclays and Vanguard hold shares for the Russell microcap. They have sold quite a bit from their 2007 positions. Vision Cap holds a equity position in PPHM. Good article last year on Vision which mentions pphm. Bottom line, minimal institutional interest and take out the Barclays Vanguard holding and you have basically no institutional interest. Could it be the non-compliance issue? Probably although PL lives in a dream world and denies it.
The top three officers (not directors) combined own about 250,000 shares or $125,000 worth. Get my point? As such no incentive to increase pps while cheap options can be granted. Mgmt's interest doesn't seem to be aligned with shareholders. I'll stand corrected when mgmt gets the share price up. The share price is the report card, not how many mice are cured.
Add up all their shares relative to the float. Last time I checked the total was less than 500,000 shares which doesn't include ES because he's on the board. So it's not misleading when I say they really don't own shares. They do benefit greatly when the stock is low and they get milestone options at low prices.
Why would mgmt care about share price when they don't own any shares? Mgmt benefits with a low price while their milestone awards are achieved. Just waiting for the excuses. Listened to Carl Ichan on CNBC today talking about Motorola and mgmts inability to execute. We really need someone like him to clean house. PPHM mgmt has just a little more time to produce or the technology needs to be placed in more capable hands.
T minus five for the Duke. They should have some free time now that the dance has ended for them. Jazz, if all roads lead to Rome, why is Rome trading at $.50?
Credit Crisis and PPHM
Been reading quite a bit on the credit crisis and how it will impact the business world. PPHM could have a tall task trying to do something with Avid if the credit markets are frozen. My guess is they have to do something with the pipeline perhaps earlier than planned and at a lower than expected price.