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If you look at positions held, most of them track Barclay's US and London holdings which is about 4,300. What this tells me is most of them are Russell Microcap related. The Vision Capital was the exception and was probably part of the PIPE deal. All imo.
Trouble in Tustin? Is the chart telling us something? Where are the R&R boys. If the stock was great at $.75, it's a bargain at $.49. No takers. The question is why?
Here's my theory on the current weakness. Mgmt has gone on all these road shows and got the response that the story is ok but we can't invest in a non-compliant stock and we have min per share price, ie we don't buy penny stocks that could be booted from the exchange. Duh! Mgmt should have figured this out. Now they've wasted time and more importantly they have squandered the opportunities to actually get institutional interest. First impressions last and we blew it.
Now mgmt has to go back and get permission for a reverse split from their friendly financier (the ones that short the stock to oblivion before they get their cheap shares). The real moneymakers have been the pphm financiers and the short game they've played. I'm sure these financiers have a real heart for pphm and are thinking about it, ie slow play it and short some more. I wonder why ES defends the financiers? What is the ES relationship to these guys? Why didn't the BOD or mgmt pursue this with the SEC? Could the trail lead to your own backyard?
The mess we're in is a result of mgmt's lack of financial savvy.
If they're dying to get a piece, last time I looked they can get some for $.52 per share. Lots of volume at this price too. Let's see, about $223,000 worth of stock traded today. How many Viagra commercials is that worth? Perhaps we need to mix some bavi with Viagra - Baviagra. There you have it.
Word I'm hearing is the roadshows are ineffective. How can you push a $.52 stock that doesn't meet listing requirements. Look at the chart. Does it say strong buy or avoid at all cost? Portfolio mgrs are avoiding like the plague. The sad part is mgmt was told this stuff two years ago. They have been too comfortable with the offshore pipe short game. Why? Why are they afraid to answer questions at the SHM? Things are not adding up.
TYP,
If mgmt fails to right the ship by year end or shortly thereafter, I will contact you via your private email. I have a sizeable position and know several folks that also have large positions. I think we can get enough folks on board to get mgmt's attention. I also have information that is not suitable for message boards. The bottom line for me is for mgmt to demonstrate how they can create value versus selling the company. IMO we cannot go thru another PIPE.
Thx
Me thinks someone wants out and the few that want in can't come in cause the Nasd compliance issue. And others know it are are anticipating a reverse split. Or someone is shorting to keep the pressure on.
Decent news. Bet we drop lower today. Why would I say that? Cause we always do. Maybe the company can issue bad news and we'll go up.
Take you pic
Note CS at the bottom.
I also think a reverse split is coming. Do you know of any institutional portfolio mgr that will buy a non-compliant Nasdaq stock? I don't think so. Portfolio mgrs have nothing to gain and their jobs to lose. Get a quote from Yahoo Finance. This is the first thing that jumps out at you.
PPHM has failed to meet NASDAQ Capital Market continued listing requirement(s).
TYP,
I agree with what you said. I think we can get enough support to make a change. Mgmt owns zero. If they don't get it together by the dec CC, we'll have to go private with our discussions. They're are quite of few folks that have more shares than mgmt that want change.
Like I said earlier, if mgmt fails on this next cc, the wheels will be set in motion to force mgmt to sell the company. Don't know if it will work but it's worth a try. Mgmt has no shares to speak of.
Things are not adding up. SK and PL in the cc's: We're in the best position we've been in, we've got cash to get things done, we got R&R ad nauseum. We're at the 4 year low. Why? What is the market telling us? Are there problems in Tustin?
Looks like the R&R show did a lot of good. Tons of buyers lining up. How low do we go? And you say $2 is way too low for a buyout? How bout $1.50?
Doesn't make sense. Wasn't the 30 million shares place with institutions? Also, I thought the 30 mil shares were to cover the short that was placed just before the PIPE. Also, the 30 million share deal was done at $.75. Is the buyer throwing in the towel and walking away with a 25% loss?
I agree. That's why I'm prepared to mobilize the troops and force mgmt's hand to unlock value in the event we miss the milestones as set out by mgmt. No more PIPEs. Mgmt lost all credibility when they stated earlier that there would be no more PIPEs. Enough is enough. Like I said earlier, these guys have no skin in the game, have put virtually no skin in the game, and continue to draw big salaries. The credit markets are shutting down and we could be in big trouble if they fail to make something happen.
Ya talkin bout Big On Tardy? My guess is the CC gets put back as far as possible to give mgmt more time. Several years ago the CC's were as late as Dec 17 and even later.
Is someone keeping the lid on this thing or is it my imagination?
Me thinks someone that attending the R&R show believes in the story. 1.4 mill shares is not a lot of dough for some folks or funds. It took them a day to run some traps. All IMHO.
Looks like CINN still wants to keep a lid on this thing. They've been doing this over the last year.
Odds are that it won't make it to market under PPHM mgmt. Hoping for a buyout once we get close to PII completions. PPHM doesn't have the resources (manpower and capital) to bring it any further.
My IB friend made these comments two years ago and within the last year has quit following the company. When he made the comments, he said the capital structure was screwed up, the company had no institutional interest except the russell. He said the company would have a difficult time at getting institutional interest at a $1 something stock price. Their recommendation was a reverse split. This was a couple of years ago. The fleecing is not an intentional scam. It is the effect of poorly timed pipes and continued poor financial mgmt. Also the last russell rebalance fiasco with all the weird stuff happening and mgmt's attitude raise some red flags for me.
One thing to consider regarding your basis or anybody's basis. Your basis is not a factor in making value decisions moving forward. It's one of the first things you learn in business school and hopefully in real life. What about the folks that bought at $16? What about the folks that bought Cisco at $70 during the bubble.
I'm all for PPHM mgmt hitting the milestones. I'm also prepared to be more active in unlocking value if mgmt fails to do so.
Maybe the prudent thing to do would be to move the trial to India. Better than waste months and dollars on something that could be a major problem down the road. Yes mgmt, this would be an acceptable delay.
The point of share count is not to show mine's bigger. The point is to see whether we can get a collective voice and tell mgmt to show us some results as in share price. I think it would take about 5% or so to put a message out. The message would be demonstrate how you create shareholder value. Otherwise sell the pieces off. Another PIPE is not an option.
Cool. I have over 400K and I know several folks have decent holdings. Again, I'm all for mgmt getting it together. I do think mgmt needs some guidance and more accountability to existing retail shareholders (which by the way vastly outnumber institutional shareholders in shares held).
Put yourself in Thorpe's shoes. Check out the resources of UT. You've got incredible potential with your technology and some of it is sitting on the sidelines while one share of your stock won't even buy a Snickers bar as you wait for Tustin to get it together. In the meantime your colleagues at other universities, companies etc continue to break ground and are nipping at your heals. Doesn't take a big imagination to figure this one out.
I agree on the problems associated with communicating on message boards. Hopefully the ship rights itself before we take it to the next step which would be private communication. At the same time it could be helpful to mgmt to know that it's time to perform. Look at Citigroup. Look at PDLI. Look at Biogen.
As for meeting deadlines outlined by mgmt themselves. Yes there should be accountability.
As for $2 to $3 per share, a 400% increase over $.59 is ok. Not great but better than a 48% loss which I have now.
As for a running the company better, I'm sure there are folks out there that couldn't do any worse. I stated over a year ago that an investment banker friend was very familiar with the company and told me mgmt was way over their head from a wall st financial mgmt perspective. One could argue the downward momentum was started when they did a PIPE just before the russell rebalance a couple of years ago. They missed the russell by $400k. The stock was crushed after that and the subsequent financings were obtained from the slam bam Meltons and UU boys. The IB friend said it was a rookie mistake.
I'm all for mgmt getting it together. I'm hoping Mary Boyd can deliver and what gives me some hope is the fact that she's even allowed herself to be associated with PPHM. I also have to think that patience is running out with Thorpe and UTSW. UTSW with vast resources can make something happen.
Yes PPHM mgmt. I'm rooting for you cause you're the home team. Get your act together and everything will be hunky dory. If you continue to flounder, at least an attempt to make changes will be initiated.
Let's wait and see what Santa brings. If it's the usual lump of coal, I think we can mobilize before the spring CC. As for Chris Smith, I don't know enough to comment. Brandon Cox seems to have a good handle as well. I'm all for the company to succeed cause I have a big investment. Mgmt has stated several times that the stock price does not reflect the value of the company. Then by mgmt's own definition they are not performing. PPHM has too many valuable balls in the air that require more resources than the company has to advance them. In the meantime other competitors that have vast resources are gaining ground.
If for some reason we miss a significant number of mgmt's set forth milestones by the Dec CC and we continue to struggle, I would be motivated to initiate a change in direction for the company. Given that insiders own virtually no stock and we have no institutional ownership with the exception of Russell microcap participants, I don't think we need a tremendous amount of backing. I think we can come up with enough influence from participants of this board. I have more shares than the top three officers of the company. My guess is we can get over 5%. The direction I would seek (after concensus) would be to put the company up for sale or partner. We cannot go thru another PIPE cycle. It is my understanding the last financing which was trumped as a big institutional placement was nothing but same old with UU only with a placement fee paid to R&R (for what?). I think mgmt needs a strong message that enough is enough. They are getting paid nice salaries and have nothing to lose with no skin in the game. If they are holding out for the hail mary pass with 3 seconds left in the game (cause they have nothing to lose) while other options might include a $2 to $3 share sale, I prefer the latter.
I can just see R&R try to plug PPHM to their investors. But it's the best $.59 stock out there. Investor: What about Nasdaq non compliance? Ya know that warning comes up on the Yahoo Finance. R&R: Ah regulations smegulations. Who needs them. This little stock is a winner. Look at the chart! Look at the steady flow of positive news and the chart maintains its trendline. Investor: I think you're holding the chart upside down sir.
Thanks CJ. Looks like a full menu of what we can expect. I'm ok if we reach a significant number of the milestones set forth by mgmt. I hope they can deliver. If they fail to deliver, I think it would be time to initiate change or force mgmt to sell the company in order to unlock value. If the unhappy shareholders of PDLI can do it with less than 5% ownership, we should be able to get something done.
I don't think mgmt wants this thing to run yet nor does R&R. The shares need to be transferred to the institutions. I can't see R&R really pushing this thing at $.59. They have their credibility to defend. I smell a reverse split in the near future.
From last CC SK said we should look forward to these milestones before the Dec CC. The last few years the Dec CC has been around Dec 12 plus ao minus a few days. Here are the milestones he mentioned (From CJ's post):
So, what dev’s do we anticipate for the Bavi AV pgm between now and the next CC in Dec.?
• Adding New Clinical Sites to the HCV-HIC Co-Infection Trial
• Significant Process in the HCV-HIV Trial, Allowing Periodic Updates
• Presenting Final Data from Ph.1 Repeat-Dose HCV Study at AASDL in Nov.
• Completing Contract Negotiations with the DTRA
I guess the main thing outstanding is the DTRA contract. I personally am getting tired of being stuck at the gate. If we don't see progress soon I'm hoping we can get a hostile takeover. Right now $2 per share sounds pretty good.
Vrtx loses $640 mil market cap on stumble. And PPHM can't get out of the starting block. When will this end?
Jazzbeer,
What's your take on VRTX news and how does Bavi stack up?
TIA
From Liver MTG. You can find it on the Liver Mtg page abstract search. Looks like a rehash of last years stuff. Perhaps they have more info. Just curious, will they be serving liver and onions at the mtg?
http://aasld2007.abstractcentral.com/planner?NEXT_PAGE=ITINERARY_ABS_DET_POP&ABSTRACT_ID=235610&SESSION_ID=23962&PROGRAM_ID=2117
Correct me if I'm wrong but it looks like lil PPHM got a better stage than VRTX to submit findings. VRTX is presenting 6 times in the morning amongst hundreds of other abstract presenters while it appears PPHM is performing once on the bigger stage.
Is there a reason for this? Inquiring minds want to know.
http://biz.yahoo.com/bw/070928/20070928005780.html?.v=1
I understand and I've been investing for some time so I'm aware of the complexity. My point was and is that pphm relative market cap looks attractive given the prospects of both companies. If you look at VRTX, much of their pipeline is in Phase II or earlier and the markets they are playing in are actually less given the broad bavi potential. I saw their rev number. Where did the revs come from, licensing fees, partnerships etc. Just curious.
Looks like Vertex stumbles on Hep C drug. High dropout rate, nasty side effects and less than stellar results. Tests were at 24 weeks of a 48 week treatment plan. What does this do for PPHM? Seems to me the bavi results given the short term treatment (as compared to 24 weeks) and saftey profile may help bavi. VRTX has a $3.8 bil market cap so I think it's safe to say the risk of bavi is already priced into the stock as if it's a complete and utter failure when compared to VRTX market cap.
More info on Mary Boyd. Check out the other resumes of some of these people. Lots of M&A consulting experience.
http://www.interpharmalink.com/a_people.html