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 agree that mgmt needs to be held accountable and that mgmt needs to know shareholders are watching. Mgmt nor their investor relations agent respond to emails nor return calls. My concern is mgmt has dissed the retail investor, which has basically kept the company floating for years, for their new found IB friend. I see a calculated game going on right now where shares are being played into institutional hands at the expense of the retail investor. Mgmt has not addressed the "funny business" of the market sweep order that got us out of the russell. I think this was all cover so someone could get a bunch of cheap shares. Also mgmt has been very cavalier regarding the short interest issues. Mgmt has been lacking in the financial mgmt of the company which is a critical aspect of an emerging biotech. My concern is they do a cheap deal down the road and are rewarded on the back end when no one is watching.
As shareholders, we have a right to expect more from what have been getting other than the story of the big bad wolf is hurting our share price and we can't do anything about it. IMO, it all goes back to how options are granted. If the company is making progress, part of the progress is share price. If mgmt can't communicate the progress to the market, they are not doing their job. If the milestone option grants had a floor price, ie an excercise price not lower than some set price from the previous quarter, we probably would not be seeing all the games being played.
I think the problem is that mgmt benefits from a low stock price while they get their options based on milestones. Given that they really don't have that many shares, the way they can build up some real wealth is to get them on the cheap as well.
The problem is not the number of shares, it's the share price below a certain threshold for institutions, ie $5 or another number. The problem is the penny stock label. I bank with Schwab, and this is considered a penny stock.
Thanks for the info. I would not be opposed to a split if the end result was the market cap increased significantly. My guess is we lost a big chunk of institutional ownership from the russell disaster so we're probably down to 5-6% unless someone picked up the slack. RR needs to come up with a plan to get it into institutional hands. Anybody here have an idea as to how much the $.80 price is hurting? My IB friend said the price needed to be $5 before most folks would bite.
The IB said it would be positive if the institutions stepped up and bought stock. He said the company had hurt themselves with all the dilution over the years and was in nowhere land where many of the institutions could not touch a $1 stock. As such, the company was stuck with retail and no real support. Combine that with constant additional dilutions via pipes and every time they got traction, it was killed by the offshore pipes.
Hoping things get better.
Regarding Merrill Lynch, the guy could be a retail broker and his client owns 5,000 shares. Nothing to get excited about. As for the IB, what incentive does RR have to keep from getting a delisting letter. I think a reverse split is in the works cause RR is probably telling them they can't get the big boys excited for a $.80 stock. My retired IB friend said this was discussed with mgmt two years ago and was an issue to get institutions to buy.
14 days til a delisting letter. If the stock didn't move from today's cc or pr's, what's it going to take? I'm not a basher and I have more shares than most institutions. I am not pleased with the price nor mgmt's lackluster attitude about price. Me thinks they know what's going on and have decided to do nothing. What can we do? Can we get enough shares together to get a voice?
I'm having trouble reconciling the statement that were at the best stage we've ever been in with the current stock price. Either these guys are liars, which I don't think they are or games are being played (which mgmt is aware of). Or they can't communicate how great the potential of bavi. Things are not adding up. I expect more weakness in the price given the reaction today. I expect the delisting game being played and the retail investor getting scared out of their shares. One other option is a reverse split which has been proposed before.
I've been investing for a long time and this is the biggest disconnect I've ever seen.
The more shares the prospective partner gets on the cheap, mgmt benefits at the end of the game. The question is will mgmt play the delisting scare game to allow the big dog to pick up more cheap shares?
Will mgmt play out the delisting letter game to give their friends some more cheap shares? Another question for the CC.
I think frustration affects many of us, thus the coincidence.
In prior conference calls, mgmt has stated the stock price does not reflect value of the company. What have they done to change things. Hopefully someone will ask them. Either the market is right about value or mgmt is not capable of communicating value to the market. We can't change the market but we can change mgmt.
I want to hear how mgmt will start creating value and soon. If they don't have a plan, it's time to sell the company cause $.82 doesn't work for me. As I said earlier, the UT system has tons of money and they have to be wondering why this technology is in such weak hands. They will do something if mgmt fails to.
Market says ho hum on pr. Maybe they have seen it too many times. Peregrine starts study. I think the market wants to see Peregrine completes study. Mgmt has lost credibility in the market.
It will end when mgmt and their buddies are booted out.
They won't buy. They'll give themselves more options at $.76 for another great milestone of getting the financing. We need a mgmt shakeup or a sale to get this technology into capable hands. I wonder what Thorpe is thinking? The University of Texas system is top notch with money up the wazoo. These guys have to be asking themselves why is this technology in such weak hands.
For the umteenth time. A retired investment banker told me that after meeting with PPHM mgmt, it was very apparent that they mgmt team lacked knowledge of the capital markets and how Wall St works. The IB team was surprised by the naivete of the pphm folks. What happened over the the missing the russell two years ago and this last month supports this observation. Time for a shakeup.
I think the last trade on the day of the Russell rebalance would give a pretty good clue. CSI Wall Street could figure this one out pretty quickly. Mgmt has clearly failed again and again. Time for a change.
I have never seen such a more manipulated stock than PPHM. I don't think we can replace mgmt with a shareholder uprising. I believe an SEC investigation is the way to go. If enough folks complain, maybe we'll see some results. I sent in a complaint. I don't think the SEC has to dig to deep on this one. And they are trying to clamp down on abusive PIPEs. If mgmt is not part of the plot, they're not doing much to prevent it. Time for a change.
http://www.sec.gov/complaint.shtml
So does this mean strategic alliance did not happen. Too many insiders took this down with mgmt's blessing. These guys need to go.
Will mgmt get some more milestone options?
The question is will the investors dump and take a $.10 profit. BTW, this financing wasn't forced on PPHM. They just got outplayed which is pretty easy to do with lightweights.
As I said earlier, first class technology with a mgmt team that is well over there heads when it comes to financial management. I was told this by a retired investment banker two years ago. Time for a management shakeup or sell the company to folks that can get it done.
IMO mgmt needs to get something going or they risk a takeover. I feel like they can't get the car out of first gear. I think you break the company up and sell Avid, Bavi and cotara for much more than $.90. Time to lead, follow or get out of the way.
Very frustrating to get thru Russell BS and then release good news and no results in PPS. IMO Someone is keeping this down and when will they let it up?
Agree. Mgmt needs a shakeup. Particularly in the financial mgmt area. They don't have the horsepower to bring it to the next level. If I can recall, the bids were pretty tight in the 1.39 to 1.40 range right up to close. Again, someone had there way with little pphm.
If it's that simple, why are we on the delete list?
I don't have much hope of them making the list. Given the price popped the last few minutes of trading to make it and the decline since, it doesn't appear to be a top 3000 company by market cap. If the price held and it still met the min cap, I'd say we would have a good argument. I still think someone doesn't want this thing to run.
Now mgmt needs to raise cash against the selling pressure of funds unloading. I wonder what Thorpe is thinking. Great technology put in the hands of weak mgmt. How long will this last?
Re Russell. The trading was very weird on the 31st. The buck 39 price was hit in the last 10 minutes of trading and had the smell of manipulation. Perhaps other companies had played this game before and the russell folks don't buy it.
If we miss Russell, we really need to either sell the company to someone who can move us forward or at the least, make some additions or changes in mgmt so we have strong financial leadership.
Kudos to mgmt for the effort. Hopefully they stay on the russell. Watched the tape last 15 minutes. I felt like I had a horse in the derby. If the IB is what made this happen, mucho gusto.
As I said earlier, a retired inventment banker told me 18 months ago that mgmt had good technology but was very green from a financial mgmt standpoint. He mentioned several meeting where the IB's were very frustrated as to how naive mgmt was in the wall st and institutional investor world.
Here's one scenario that may be in play. ALL IMO. PPHM has a friendly suitor and the are quietly picking up shares. PPHM, as of today, will be hard pressed to make the Russell. As such, the shorters will be out and this will help the acquirer. I expect some weakness up and thru June 30. The more shares an acquirer gets on the cheap, the higher price can be paid at the closing table. Mgmt knows this. So they may sacrifice the Russell to help their pal (and themselves). I could be wrong and if mgmt takes a firm stand to stay in the Russell by sending out stellar PR's, this theory is DOA.
Blurb on MSNBC about ASCO coming up in two weeks. Looks like some books got sent out with a preview and there was a little stink about people getting info before the general public. Could PPHM be sitting on great news that will be delivered before the final Russell cut and torch the shorts? Is mgmt playing possum or are they real deadbeats? Two weeks and we'll know.
Look at the chart for the last two years just before russell rebalance. Two years ago they missed it by $400k and it caused a 15% drop. Up to the last few days before the cutoff, it looked like they were in. Mgmt did a pipe just before the date and cost them some real momentum. Fast forward today. PPHM is a no brainer on getting booted based on today's value. Hopefully mgmt has some tricks up their sleeve but I'm not counting on it. An investment banker friend told me two years ago after one of his associates met with mgmt. His summary was promising technology but inexperienced mgmt with respect to understanding Wall Street and getting a foothold in the institutional investment arena. I now understand what he meant. I believe mgmt owes us shareholders a plan as to how they move the ball with respect to financing.
Agree. My partnership assumption assumes the partner would be the funding source. Today's announcement without stating where the funds come from raises the same old funding questions. Thus the cold shoulder from the market.
BOT, Thanks for the update. If today's "mega" news was going to save us from Russell boot, doesn't look good. Batten down the hatches folks. I'm not a basher cause I own a big chunk of this and think the science is worth much more than $.97. Other forces are at play here and they are not friendly to PPHM. Looks like a partnership announcement is needed.
Last post. My hope is the shorts load up and get burned with great news in the middle of all the russell BS. Hopefully BOT is correct in that the "news" will counter the russell effect. However, if too many big shorts get caught on the wrong side of the trade, there is the potential for hanky panky. Look at Dendreon DNDN. IMO someone was pulling some strings to let the shorts out of that trade. I don't trust the system. The SEC has rolled over to the hedge funds. Screw the small investor.
Great article on rebalance process:
http://www-ac.northerntrust.com/content//media/attachment/data/white_paper/0605/document/whitepaper_...
From another article:
Some analysts claim the annual Russell 2000 rebalancing has a detrimental effect on index fund returns because of "front running." Index front running is usually cited as a major weakness of index funds that results from their transparency. Essentially, the claim is that hedge funds can profit from an index rebalance by buying added stocks before index funds do (which drives up the price) and then selling them to the slow-witted index funds. Time (and of course timing) is of the essence when front running because you're subject to other market factors aside from "index effect." In any case, Wall Street does churn out a fair amount of research dedicated to predicting index additions and deletions, most likely because research has demonstrated that stocks do experience a price pop when added to an index (the reverse happens when they're booted from the benchmark).