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I do know that all the battery stocks got hammered hard as a sector the last 10 weeks. Harder than most stocks. Still do not know why. There were articles here and there suggesting there was over capacity in the sector hurting revenue growth, but ABAT has shown strong sales growth. Not sure about EXIDE
I have missed the timing to buy Exide twice the last 2 years. Have never owned it, yet. I was watching it because of a DOE partner grant they had with AXPW and the US DOE (about 20 months ago) for a new generation lead-carbon battery, but Exide screwed AXPW over on the grant, from what I later learned.
EXIDE came out of bankruptcy not long ago, and finally had a profitable quarter Q1 IIRC. The stock sold off real hard the last 4-6 weeks (after a 200% rally), worse than the market, but I have not been watching all the news on XIDE lately, so not sure why it dropped so far, unless lots of multi year bag holders all sold at the top.
I do own some AXPW (Not much right now, waiting for the next dilution round), also own some ABAT and CBAK, both are pretty cheap right now. MXWL is also interesting.
Soom interesting natural gas pipeline news:
http://news.ino.com/headlines/?newsid=68980386788601
Heads up!!! This was in an email to me today! Has an ABAT chart play at the bottom!!!! New eyes may show up here Monday!!!!
Time for the run to $2 perhaps?
http://campaign.r20.constantcontact.com/render?llr=tznx77cab&v=001nphfS6MPjGnd9srTW-lJ2zFInLKta24gMXrsmRlGNdmHZ1tall-eRP98hNEqOv9bqC3ZwrZaDJ130smEQsGyUgwGQ1VfO_k0EX3_UGiQlo8%3D
This is the third or fourth time I have seen something like this on ABAT recently, it's big rally time may be soon!
I don't see any guessing needed. It is financing. They could finance the next step quickly if they were willing to give away the ranch (figure of speech), but they are trying hard under very difficult financing conditions world wide to get the best deal they can for current stock holders. That should all be obvious!
There are already rumors of banks in Europe freezing daily interbank loans again, and now rumors that Asia banks are pulling credit lines to European banks, like happened in 2008 after Lehman collapsed.
I don't think they started trying to get current financing until May 2011, when they got the last of the well test results and the existing pipeline infrastructure report from the contractors, to show to loan sources. They may have delayed the financing further during the flooding hoping for better offers, as the Japan disaster hit world markets just before they reached a point where they had all the data to show potential investors or loan officers, then add in the added war turmoil in Libya, and now the recent mess in Washington (and concerns of possible changes in oil and gas taxation laws), and I have no doubt financiers are worried about letting go of cash everywhere on the planet, unless the deal is ultra sweet, and MNLU last said they were working on cheap financing (for stockholders, no dilution financing), senior secured debt.
Gerry told me about 6 months ago they had already ordered the pipe and related stuff for well completion, so money for the rig has got be the current deal. I have no doubt, once the money is secured, deal is signed in concrete, that we will get an 8-K and PR almost immediately.
What is the waiting time for a rig, if they have not already set a date, reservation?
Game is not over until the Fat lady sings.
LOL
For now, we are in the eye of the storm, but the storm may die, or we may enter the other side. For now, it can go either way, and with OPEX this Friday, the bounce rally is likely to continue for a week. We may not know the real direction (we may go sideways here)for 3-4 weeks, or more at this point. Volatility will be real, and nasty, and news will trigger whipsaws!!!
BDI and dry bulk shippers are a special case. While Apple, and similar success stories and timing may carry the markets up from the recent lows, the BDI has a severe over supply of ships, higher fuel costs, way over valued book values as they have not marked down the ship values to market value, and the commodity demand is already high, so if commodity demand falls any, some BDI shippers will start to have refinancing problems, and a new round of Europe bank problems may squeeze the shippers that need to refinance anything. So I think, for once, Zachs may have gotten it right.
There are many other really beaten stocks that have dividends, that I think may be better buys today, if we do not go into a double dip recession.
It looks like this is a pretty safe bet down here short term, no debt, selling for less than cash in the bank per share, and we saw the scary bottom already on the bad FDA news, on a market wide sell off bottom. Little down side risk now short term it seems.
News just gets worse and worse.
Have they started buying back shares yet?
LOL
Thanks for the update.
They had a deal for several years with a European non profit trust that funded (paid them) for much of their earlier drug work, and they showed a profit 1 quarter per year based on that payment alone. Then in early 2008 they raised a bunch of cash, and bought RXII for almost nothing, then made a huge profit off selling it a bit at a time 2 years later. The test results on their pipelines have been incredible. I have high hopes of another partner deal funding one of their Phase III studies, on a shared revenue, or single drug buy out on performance plan, where most of the funding costs are paid by some one like NVS.
If you think Great depression II is on its way, do not buy this stock. If you think the risk of a recession now is overblown, and you have a high risk tolerance, this has a good risk/ reward ratio here. I first bought CYTR at about 33 cents in late 08 or early 09, and those shares went all the way to nearly $2/share. My mistake was I added shares at $1.33, and held long, never sold any, never traded, because I think there is a good chance the drugs in their pipeline will hit the jack pot. I was always afraid of sudden news of big deal coming out overnight, and it gapping way up at the open, and missing the boat.
These guys have demonstrated their skill at navigating real bad markets, and making profitable deals during them, so I am staying in and averaging down here, when I can.
Speaking of bottoming, just how deep is the Atlantic anyway?
The field of competitors is "GROWING" (LOL)
http://www.otcjournal.com/Phototron-PHOT-Feeding-the-Mars-Colony/af/archive/20110810-1/
Here is another big sign!!!
It says the train is coming. Closing ones eyes will NOT stop this train! Go MNLU!
www.earth-policy.org/plan_b_updates/2011/update99
Lester R. Brown
Earth Policy Release
Plan B Update
August 10, 2011
At a press conference on July 21, New York City Mayor Michael Bloomberg announced that he was contributing $50 million to the Sierra Club's Beyond Coal Campaign. Michael Brune, head of the Sierra Club, called it a "game changer". It is that, but it also could push the United States, and indeed the world, to a tipping point on the climate issue.
It is one thing for Michael Brune to say coal has to go, but quite another when Michael Bloomberg says so. Few outside the environmental community know who Michael Brune is, but every business person knows Michael Bloomberg as one of the most successful business entrepreneurs of his generation.
The Sierra Club's Beyond Coal Campaign has two main goals. The first is to prevent the permitting and construction of new coal-fired power plants. So far 153 proposed power plants have been taken off the board. The second goal is to close the 492 existing plants. The Sierra Club lists 71 plants already scheduled for total or partial closure, most of them by 2016.
The efforts to stabilize climate will be won or lost with coal, the world's largest source of carbon emissions. The effort to phase out coal is now well under way in the United States, the world's second ranking coal user after China.
There are likely to be many ripple effects from the Bloomberg grant. To begin with, it may encourage other philanthropists to invest in climate stabilization.
The prospect for investment in coal, already deteriorating, will weaken even faster. In August 2010, the Rainforest Action Network (RAN) announced that several leading U.S. investment banks, including Bank of America and J.P. Morgan, had ceased lending to companies involved in mountaintop removal coal mining. Now with Bloomberg's opposition, investors will be even more wary of coal.
The Bloomberg-Sierra initiative again focuses attention on the 13,200 lives lost each year in the United States due to air pollution from burning coal. If deaths from black lung disease among coal miners are included the number climbs even higher. The number of coal-related deaths in one year dwarfs total U.S. fatalities in the Iraq and Afghanistan wars. We invest heavily in protecting the lives of our troops in the Middle East, and rightly so. Bloomberg is saying let's do the same for our people at home.
In addition, this initiative brings attention to the health care costs to society of burning coal. These are currently estimated at more than $100 billion per year, roughly $300 for every person in the United States or $1,200 for a family of four. These costs are real, but it is the American people, not the coal companies, who shoulder the burden.
Further reinforcing the urgency of phasing out coal are the more extreme weather events that climate scientists have been warning about for decades. During the first half of 2011 we watched TV news channels become weather channels. First it was a record number of tornadoes in one month, including the one that demolished Tuscaloosa, Alabama. Then, a few weeks later, an even more powerful tornado demolished Joplin, Missouri. As drought and heat sparked record or near-record wildfires in Arizona, New Mexico, and Texas, the lower Mississippi Basin was flooding. Searing heat waves scorched the southern Great Plains, the Midwest, and the East Coast. Intense heat has continued to break records across the country as Texas suffers its most severe one-year drought on record.
For coal, the handwriting is on the wall. Between 2007 and 2010, coal use in the United States dropped 8 percent. (See data at www.earth-policy.org.) Meanwhile, more than 300 new wind farms came online, totaling over 23,000 megawatts of generating capacity—the electricity output equivalent of 23 coal-fired power plants.
When people were asked in a national poll where they would like to get their electricity from, only 3 percent opted for coal. Despite the coal industry's heavy expenditures to promote "clean coal," it is still a loser in the public mind.
In addition to the Sierra Club, RAN, and a talented team of Earthjustice lawyers, the anti-coal movement also has allies in Friends of the Earth and Greenpeace, the latter with its highly developed capacity to focus public attention on environmental issues. This was evident in May when a Greenpeace team of eight daring activists scaled the 450-foot Fisk coal plant smokestack located in Chicago and painted "Quit Coal" on it. They were drawing public attention to the deadly air pollution in the city coming from the plant.
As the United States closes its coal-fired power plants, it sends a message to the world. With Michael Bloomberg's grant bolstering the Sierra Club's well-organized program to phase out coal, we can now imagine a coal-free United States on the horizon. The United States could again become a world leader, this time in stabilizing climate.
The train is coming. Closing ones eyes will NOT stop the train!
Go AEXP!
www.earth-policy.org/plan_b_updates/2011/update99
Lester R. Brown
Earth Policy Release
Plan B Update
August 10, 2011
At a press conference on July 21, New York City Mayor Michael Bloomberg announced that he was contributing $50 million to the Sierra Club's Beyond Coal Campaign. Michael Brune, head of the Sierra Club, called it a "game changer". It is that, but it also could push the United States, and indeed the world, to a tipping point on the climate issue.
It is one thing for Michael Brune to say coal has to go, but quite another when Michael Bloomberg says so. Few outside the environmental community know who Michael Brune is, but every business person knows Michael Bloomberg as one of the most successful business entrepreneurs of his generation.
The Sierra Club's Beyond Coal Campaign has two main goals. The first is to prevent the permitting and construction of new coal-fired power plants. So far 153 proposed power plants have been taken off the board. The second goal is to close the 492 existing plants. The Sierra Club lists 71 plants already scheduled for total or partial closure, most of them by 2016.
The efforts to stabilize climate will be won or lost with coal, the world's largest source of carbon emissions. The effort to phase out coal is now well under way in the United States, the world's second ranking coal user after China.
There are likely to be many ripple effects from the Bloomberg grant. To begin with, it may encourage other philanthropists to invest in climate stabilization.
The prospect for investment in coal, already deteriorating, will weaken even faster. In August 2010, the Rainforest Action Network (RAN) announced that several leading U.S. investment banks, including Bank of America and J.P. Morgan, had ceased lending to companies involved in mountaintop removal coal mining. Now with Bloomberg's opposition, investors will be even more wary of coal.
The Bloomberg-Sierra initiative again focuses attention on the 13,200 lives lost each year in the United States due to air pollution from burning coal. If deaths from black lung disease among coal miners are included the number climbs even higher. The number of coal-related deaths in one year dwarfs total U.S. fatalities in the Iraq and Afghanistan wars. We invest heavily in protecting the lives of our troops in the Middle East, and rightly so. Bloomberg is saying let's do the same for our people at home.
In addition, this initiative brings attention to the health care costs to society of burning coal. These are currently estimated at more than $100 billion per year, roughly $300 for every person in the United States or $1,200 for a family of four. These costs are real, but it is the American people, not the coal companies, who shoulder the burden.
Further reinforcing the urgency of phasing out coal are the more extreme weather events that climate scientists have been warning about for decades. During the first half of 2011 we watched TV news channels become weather channels. First it was a record number of tornadoes in one month, including the one that demolished Tuscaloosa, Alabama. Then, a few weeks later, an even more powerful tornado demolished Joplin, Missouri. As drought and heat sparked record or near-record wildfires in Arizona, New Mexico, and Texas, the lower Mississippi Basin was flooding. Searing heat waves scorched the southern Great Plains, the Midwest, and the East Coast. Intense heat has continued to break records across the country as Texas suffers its most severe one-year drought on record.
For coal, the handwriting is on the wall. Between 2007 and 2010, coal use in the United States dropped 8 percent. (See data at www.earth-policy.org.) Meanwhile, more than 300 new wind farms came online, totaling over 23,000 megawatts of generating capacity—the electricity output equivalent of 23 coal-fired power plants.
When people were asked in a national poll where they would like to get their electricity from, only 3 percent opted for coal. Despite the coal industry's heavy expenditures to promote "clean coal," it is still a loser in the public mind.
In addition to the Sierra Club, RAN, and a talented team of Earthjustice lawyers, the anti-coal movement also has allies in Friends of the Earth and Greenpeace, the latter with its highly developed capacity to focus public attention on environmental issues. This was evident in May when a Greenpeace team of eight daring activists scaled the 450-foot Fisk coal plant smokestack located in Chicago and painted "Quit Coal" on it. They were drawing public attention to the deadly air pollution in the city coming from the plant.
As the United States closes its coal-fired power plants, it sends a message to the world. With Michael Bloomberg's grant bolstering the Sierra Club's well-organized program to phase out coal, we can now imagine a coal-free United States on the horizon. The United States could again become a world leader, this time in stabilizing climate.
Sooner or later:
If the coal people want to survive they need to get behind MVTG now!!!
www.earth-policy.org/plan_b_updates/2011/update99
Lester R. Brown
Earth Policy Release
Plan B Update
August 10, 2011
At a press conference on July 21, New York City Mayor Michael Bloomberg announced that he was contributing $50 million to the Sierra Club's Beyond Coal Campaign. Michael Brune, head of the Sierra Club, called it a "game changer". It is that, but it also could push the United States, and indeed the world, to a tipping point on the climate issue.
It is one thing for Michael Brune to say coal has to go, but quite another when Michael Bloomberg says so. Few outside the environmental community know who Michael Brune is, but every business person knows Michael Bloomberg as one of the most successful business entrepreneurs of his generation.
The Sierra Club's Beyond Coal Campaign has two main goals. The first is to prevent the permitting and construction of new coal-fired power plants. So far 153 proposed power plants have been taken off the board. The second goal is to close the 492 existing plants. The Sierra Club lists 71 plants already scheduled for total or partial closure, most of them by 2016.
The efforts to stabilize climate will be won or lost with coal, the world's largest source of carbon emissions. The effort to phase out coal is now well under way in the United States, the world's second ranking coal user after China.
There are likely to be many ripple effects from the Bloomberg grant. To begin with, it may encourage other philanthropists to invest in climate stabilization.
The prospect for investment in coal, already deteriorating, will weaken even faster. In August 2010, the Rainforest Action Network (RAN) announced that several leading U.S. investment banks, including Bank of America and J.P. Morgan, had ceased lending to companies involved in mountaintop removal coal mining. Now with Bloomberg's opposition, investors will be even more wary of coal.
The Bloomberg-Sierra initiative again focuses attention on the 13,200 lives lost each year in the United States due to air pollution from burning coal. If deaths from black lung disease among coal miners are included the number climbs even higher. The number of coal-related deaths in one year dwarfs total U.S. fatalities in the Iraq and Afghanistan wars. We invest heavily in protecting the lives of our troops in the Middle East, and rightly so. Bloomberg is saying let's do the same for our people at home.
In addition, this initiative brings attention to the health care costs to society of burning coal. These are currently estimated at more than $100 billion per year, roughly $300 for every person in the United States or $1,200 for a family of four. These costs are real, but it is the American people, not the coal companies, who shoulder the burden.
Further reinforcing the urgency of phasing out coal are the more extreme weather events that climate scientists have been warning about for decades. During the first half of 2011 we watched TV news channels become weather channels. First it was a record number of tornadoes in one month, including the one that demolished Tuscaloosa, Alabama. Then, a few weeks later, an even more powerful tornado demolished Joplin, Missouri. As drought and heat sparked record or near-record wildfires in Arizona, New Mexico, and Texas, the lower Mississippi Basin was flooding. Searing heat waves scorched the southern Great Plains, the Midwest, and the East Coast. Intense heat has continued to break records across the country as Texas suffers its most severe one-year drought on record.
For coal, the handwriting is on the wall. Between 2007 and 2010, coal use in the United States dropped 8 percent. (See data at www.earth-policy.org.) Meanwhile, more than 300 new wind farms came online, totaling over 23,000 megawatts of generating capacity—the electricity output equivalent of 23 coal-fired power plants.
When people were asked in a national poll where they would like to get their electricity from, only 3 percent opted for coal. Despite the coal industry's heavy expenditures to promote "clean coal," it is still a loser in the public mind.
In addition to the Sierra Club, RAN, and a talented team of Earthjustice lawyers, the anti-coal movement also has allies in Friends of the Earth and Greenpeace, the latter with its highly developed capacity to focus public attention on environmental issues. This was evident in May when a Greenpeace team of eight daring activists scaled the 450-foot Fisk coal plant smokestack located in Chicago and painted "Quit Coal" on it. They were drawing public attention to the deadly air pollution in the city coming from the plant.
As the United States closes its coal-fired power plants, it sends a message to the world. With Michael Bloomberg's grant bolstering the Sierra Club's well-organized program to phase out coal, we can now imagine a coal-free United States on the horizon. The United States could again become a world leader, this time in stabilizing climate.
Next friday is OPEX. It is about to get real volatile and interesting, or verrrry dull!!!
I am still waiting to see those ten cent shares I was promised were a sure thing last night. :(
So far all I see is a 10-20% rally off of last nights after hour lows.
If this follows the typical path, and we have a decent day in the markets tomorrow, it will rally up about 30-40% just on a DCB, with the help of some MMs and bargain hunters, and panic short covering.
$1.50 is an easy target bounce.
http://www.prlog.org/10943772-arena-pharmaceuticals-inc-investor-files-lawsuit-over-alleged-securities-laws-violations.html
Seems the earlier poster is right about the COB of directors of ANX being the same guy, as the COB of directors at Arena, and it seems Arena has been sued for investor fraud. Still it is strange that these saviors show up at the last minute with this bad news, after the fact, after it is too late, and never before with enough real links and details for anyone else to connect the dots. Seems a little SHORT sighted to me.
Only two of them are subscribers.
They will not buy back shares. They will need all that cash for the other two drug trials, etc. IIRC ANX-514 needs a LOT of cash for an expensive phase III next, which we had previously been led to believe might be side stepped or avoided, but IIRC FDA asked for it anyway.
ANX-530 was never going to be the top billion dollar drug winner anyway, that is ANX-514 (IIRC the number right). I think they have about $1.50/share in cash still. With a little luck though, we may get some great deals during the market wide, world wide panic here on ANX shares as weak hands panic and try to sell all at once tomorrow, or if the funds start unloading too fast, too soon this month. I have little doubt this stock will get back to at least $2/share in the next 6 months, but for now it is possible this will drop to 50 cents in a panic tomorrow before it bounces on short covering and bottom fishing. But todays failure news, is going to make many think twice about gambling on the other 2 drugs.
This was failure of simple paper work, documentation, not a failure of the drug itself! Somebody in that organization should talk a long walk on a short plank!
BS. You had no clue. You were just trying to drop the price to buy, or to cover shorts with typical scare tactics. You made no mention of the real reason this drug was denied approval, all your reasons for the warning were not what caused the sell off, the only reason this application failed was it seems, some low level paper work to prove which version of the drug was used in each trial location, not because the drug was no good, but because some one down the chain of command either did not follow the SOPs to the letter, or they assumed that no one was stupid enough to use the wrong version of the same drug (and failed to document which version they used, which also seems implausible?).
Almost sounds like FDA denial is based on a technicality, a chain of command paper work issue, but even that seems implausible, unless you realize how screwed up our hospitals are, and how many patients get the wrong drugs all the time, which on that basis, I could use US drug dosing error statistics as a good reason to doubt any drug application at the FDA as possibly having dosed the wrong people with the wrong trail drug.
Question now, is who on the inside screwed up on the little details. Heads should role on the inside for this kind of mistake, at this level. If they farmed out the work to outsiders at the test sites, they should be sued for malpractice!
Who is jack lief, what does he do, and what is the problem with him?
Definately could be worse, I just got my as* handed to me with an FDA drug approval denial on ANX, because, get this,
"the authenticity of the drug products used in the pivotal bioequivalence trial (Study 530-01) could not be verified"
How stupid can people be? Stock was up 30% from Friday low, and is now down 61% after hours. This was their second denial on the same drug. The last time it was because they changed suppliers (manufacturers), and FDA want new 12 month stability tests (but failed to mention this issue back then).
I am finally starting to believe buy and hold is dead.
OK, back to TTEG. We may get a major rally tomorrow, here and in the market, but it won't be ANX that rallies. :(
Great Caesars Ghost! #@$*!?>&^%@#
So where is this POS going next, down to 10 cents?
I can not believe the FDA response. Are the officers at ANX this incompetent? Is it time to sue them for incompetence? Why didn't the FDA mention this the first time, before they let us waste another 12 plus months of time and cash?
This is just nuts! I don't think the people they are using to tell them how to do FDA compliance (FDA procedures) know what they are doing. This is strike 2 for simply not dotting the eyes and crossing the tees! How did these clowns ever get major investor money if they are this incompetent? Maybe it is time to short this POS down .01/share? Put and end to it.
"the authenticity of the drug products used in the pivotal bioequivalence trial (Study 530-01) could not be verified"
SAN DIEGO, Aug. 9, 2011 /PRNewswire via COMTEX/ --
ADVENTRX Pharmaceuticals, Inc. (NYSE Amex: ANX) announced today that it received a complete response letter from the U.S. Food and Drug Administration (FDA) regarding the Company's New Drug Application (NDA) for Exelbine(TM) (vinorelbine injectable emulsion) for the treatment of non-small cell lung cancer.
The FDA determined that it could not approve the Exelbine NDA in its present form. In particular, the complete response letter noted that, based on inspections at clinical sites, the authenticity of the drug products used in the pivotal bioequivalence trial (Study 530-01) could not be verified, which placed the results of the trial into question. The letter stated that the bioequivalence trial will need to be repeated to address this deficiency.
In addition, the FDA requested information regarding product quality, or CMC matters. All CMC information requests in the complete response letter were the subject of FDA inquiries from earlier in the review cycle, and the Company had submitted responses to each request prior to receipt of the complete response letter.
"We are disappointed with the FDA's determination and, next week, plan to request a type A meeting to discuss its response. Following that meeting, we will be in a better position to comment on the future of our Exelbine program. However, we believe the authenticity of the drug products used in the pivotal study is verifiable and plan to discuss FDA's concerns in this regard. We also will inquire whether FDA has comments to our previously submitted responses," said Brian M. Culley, Chief Executive Officer of ADVENTRX.
"In the meantime, our resources and focus are on ANX-188 and ANX-514, which we believe are the long-term value drivers for our company. Our cash and equivalents of $40.7 million at July 31, plus cost savings from delaying or potentially discontinuing the Exelbine program, will provide us the capital to continue to advance both of these programs," Mr. Culley added.
The Company believes that FDA's concern over drug product authenticity stems from the procedures used to select testing and reserve samples in Study 530-01 and the availability of testing and reserve samples for inspection. The Company believes the procedures used to select testing and reserve samples in Study 530-01 were adequate to verify the authenticity of the drug products. Of note, Exelbine and the reference product come in different package presentations, require different preparation procedures and have different physical characteristics. Based on the different characteristics between the study drugs, the Company believes it is unlikely that study sites would confuse the two study drugs or fail to recognize which drug was being administered to a patient.
Conference Call and Webcast
ADVENTRX will hold a conference call on Wednesday, August 10, 2011 beginning at 8:30 a.m. Eastern time to review the developments discussed in this news release and answer questions. Individuals interested in listening to the conference call may do so by dialing (800) 860-2442 for domestic callers, (412) 858-4600 for international callers and requesting the ADVENTRX Pharmaceuticals Update Call, or, from the webcast on the investor relations section of the Company's Web site at www.adventrx.com. A telephone replay will be available for five days approximately one hour after the conclusion of the call by dialing (877) 344-7529 for domestic callers, or (412) 317-0088 for international callers, and entering conference number 10003222. The webcast will be available on the Company's Web site for 30 days following the completion of the call.
Does not get any better than this folks!!!!
Harbance Dhaliwal purchased 15,294 shares of American Exploration Corp stock, or $1,224 worth, as noted in an SEC Filing today. Harbance Dhaliwal listed his title as "Director" at American Exploration Corp within the filing.
As noted on August 9, 2011, Harbance Dhaliwal's purchase was done directly over 1 transaction on August 3, 2011. The share price for the transaction was $0.08 according to the regulatory filing detailing the trade.
If we look over the past 12 months, Harbance Dhaliwal has sold no shares of American Exploration Corp stock. Over the same time period, Harbance Dhaliwal has purchased 715,294 shares of American Exploration Corp, with a total cost of $86,134.
Let's take a quick, high-level look at insider trading at American Exploration Corp over the past 12 months. No shares of American Exploration Corp stock were sold by company insiders. Over the same time 12 month time period, 715,294 shares of American Exploration Corp, for a total value of $86,134 were purchased by company insiders.
Does not get any better than this folks!!!!!!!!!!!!!!!!
Harbance Dhaliwal purchased 15,294 shares of American Exploration Corp stock, or $1,224 worth, as noted in an SEC Filing today. Harbance Dhaliwal listed his title as "Director" at American Exploration Corp within the filing.
As noted on August 9, 2011, Harbance Dhaliwal's purchase was done directly over 1 transaction on August 3, 2011. The share price for the transaction was $0.08 according to the regulatory filing detailing the trade.
If we look over the past 12 months, Harbance Dhaliwal has sold no shares of American Exploration Corp stock. Over the same time period, Harbance Dhaliwal has purchased 715,294 shares of American Exploration Corp, with a total cost of $86,134.
Let's take a quick, high-level look at insider trading at American Exploration Corp over the past 12 months. No shares of American Exploration Corp stock were sold by company insiders. Over the same time 12 month time period, 715,294 shares of American Exploration Corp, for a total value of $86,134 were purchased by company insiders.
Well at least they are letting us know what they are working on. Not unusual to mask names of third parties while negotiations are on going. The good news is, that the deal they are trying to cut will not require dilution or cash, and might actually get sales and income going while the TTEG engines R&D is completed.
Stop posting outright lies! They have had on average 1 very profitable quarter per year the last 3 years.
I am starting to wonder if the merger is a log jam in the loan paper work, or if it is making it harder to cut a loan deal, having the extra assets in AEXP?
I am starting to question my own sanity at being long on this one.
I am also starting to doubt prior analysts predictions that these guys will turn a profit by year end. The quarterly shows no signs of getting any where near that. But it looks to be selling for something near book value per share right now.
Market cap based on the new OS count, is only 50 million dollars, with 29 million in cash and securities (think US Treasuries) in the bank.
Earlier this year the market cap was 100 million, with few shares and less cash on hand!
Last year the peak market cap was about 150 million dollars.
So if the market does not crash (further) this is screaming buy here! Keep in mind any liquidity problems in the market the rest of this year, should not affect CYTR, as they now have about 2 years of cash on hand!
I just placed an order for more shares of CYTR.
We have the quarterly report today.
Some how I missed this news, the first half of this:
“Our financial resources were strengthened through a recent public stock offering and are now ample to reach critical inflection points in our aggressive oncology clinical development programs,” added Mr. Kriegsman. “We also have taken actions to improve our future financial position by monetizing our non-oncology assets. In May of this year, we sold our molecular chaperone assets to Orphazyme ApS, a privately-held, Copenhagen, Denmark-based biotechnology company, in a transaction that could bring us as much as $120 million if all developmental milestones are met, in addition to potential royalty payments.
The prior month, we received 163,000 shares of ADVENTRX Pharmaceuticals (NYSE Amex: ANX) common stock (of which approximately 20% are being held in escrow) in exchange for our 19.1% ownership in SynthRx, Inc. If all milestones under that agreement are achieved, we could receive up to 2.9 million additional shares of ADVENTRX, with a value of over $7.0 million based on the last sale price of ADVENTRX shares on the NYSE Amex on August 5, 2011 of $2.46, and potential royalty payments.”
CytRx reported cash, cash equivalents and marketable securities of $26.1 million as of June 30, 2011. In July 2011, the Company raised net proceeds of approximately $19.1 million through an underwritten public offering.
About CytRx’s Oncology Portfolio
CytRx has a pipeline of oncology drug compounds that offer broad market opportunities, including bafetinib, tamibarotene and INNO-206.
INNO-206
CytRx holds the exclusive worldwide rights to INNO-206, a tumor-targeted doxorubicin conjugate. INNO-206 was designed to reduce adverse events by controlling drug release and preferentially targeting solid tumors. The Company recently announced the delivery of INNO-206 at doses more than 4-times higher than the standard doxorubicin dose in its open-label Phase 1b safety and dose escalation clinical trial in soft tissue sarcomas with INNO-206. CytRx plans to initiate a Phase 2b clinical trial as a treatment for soft tissue sarcomas in 2011, following the Phase 1b dose escalation safety trial. Previous studies have shown INNO-206 efficacy in tumor models of breast, ovarian, small cell lung cancer, renal cell cancer and pancreatic cancers. Additionally, a recently announced study showed that low doses of INNO-206 and doxorubicin combined achieved complete remission in aggressively growing in vivo ovarian cancer tumors. Several other chemotherapy agents have been attached to the linker used for INNO-206, including paclitaxel, camptothecin, cisplatin and methotrexate, and may be incorporated into future clinical development by the Company.
Bafetinib
CytRx holds rights to bafetinib (formerly known as INNO-406) in all territories except Japan. Bafetinib is a potent, orally available, rationally designed, Bcr-Abl, Lyn and Fyn kinase inhibitor, which was being developed as a third-line treatment for patients with CML and certain forms of acute myeloid leukemia (AML) that are refractory or intolerant of other approved treatments. In November 2008, CytRx announced that bafetinib demonstrated clinical responses in patients with CML in an international, open-label Phase 1 dose-ranging clinical trial conducted in patients with CML and other leukemias that have a certain mutation called the Philadelphia Chromosome (Ph+) and are intolerant of or resistant to Gleevec® and, in some cases, second-line tyrosine kinase inhibitors such as dasatinib and nilotinib. In April 2010, the Company announced that bafetinib had received official notification from the Committee for Orphan Medicinal Products (COMP) of the European Medicines Agency (EMEA) that a positive opinion was made regarding the application for orphan medicinal product status for the treatment of chronic myeloid leukemia (CML). Bafetinib also has been granted Orphan Drug Status for the treatment of Ph+ CML by the U.S. Food and Drug Administration (FDA).
Tamibarotene
CytRx holds the North American and European rights to tamibarotene as a treatment for certain cancers. Tamibarotene is an orally available, rationally designed, synthetic retinoid compound designed to potentially avoid toxic side effects by binding to its molecular target more selectively than all-trans retinoic acid (ATRA), the current first-line treatment for APL. Tamibarotene is being evaluated for efficacy and safety in a Phase 2 trial as a third-line treatment for APL. The U.S. Food and Drug Administration (FDA) has granted Orphan Drug Designation for APL and Fast Track Designation for the treatment of adult patients with relapsed or refractory APL following treatment with ATRA and ATO. Tamibarotene also has been granted orphan medicinal product status by the European Medicines Agency for the treatment of APL. The estimated annual market potential in the U.S. and Europe for tamibarotene as a treatment for refractory, maintenance and front-line therapy in APL is up to $100 million. In addition, the Company has initiated a Phase 2b clinical trial of tamibarotene as a treatment for stage IIIb and IV non-small-cell lung cancer.
None of their PRs ever showed up on the real news wires, as news either. Real disappointment, again.
Let's hope they lined up enough new eyes watching the stock, to have serious news buyers when we finally get real major news again.
I was very tempted to add today and Friday, but no matter how low it goes this month, it could go lower before the losses turn around into profits in about 9 months. Now if it hit .25 or lower in a real panic sell off day, like 1987, this week, I would probably buy like crazy.
I don't want to jinks things here, but today's price stability in TTEG has me wondering if a 5% plus market wide rally day this week in the markets (which will happen, only question is when), might not drive us back into the 20s?
You can say that again!!!! My only green stock today was a China reverse merger with losses reported last week!
LOL
I am just waiting for the next bottom to buy more here. I really believe this group has some block busters in the pipeline.
Overseas markets are down 7-9% already. Not looking good for tomorrow, but if we get a huge gap down at the open due to crashed futures (and maybe more selling after that) it maybe be the bottom for a HUGE panic short covering rally.
LOL. Nice try, this one already bottomed on Friday, at about $1.80.