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+++What the biggest delusion in America?
Answer...
The widely held misconception that the world monetary system isn't in absolute peril.. yes...this could very well have a material impact on the PPHM limp along strategy. It is the 800 lb gorilla the room that the major networks, mutual fund managers and the wall street journal avoid talking about like the plague.
Under normal market conditions, the buy, hold and wait strategy is absolutely sound as it relates to our PPHM investment. Unfortunately, in the event we face a currency crisis before this endeavor is monetized that ultimately results in a market cap that reflects what we all here believe is justified...we may all suffer the cruel fate of being "right" about bavi working....but have our investment crushed before we have the "opportunity" to ring the register.
Sorry for the semi off topic slant....
All IHMO
Spot on Microbe Man….
EBS consistently presents a well-grounded perspective of the goings on at Club PPHM. Yet somehow, those who post here 2,3,4,…10 times a day after a taking a few too many tokes off the PPHM crack pipe dismiss him/her as….all together now….”having an agenda”….lovely.
I am all for those who possess an abundance of enthusiasm as to what the BAVI platform can bring to the table as it relates to benefitting both cancer patients and the long-term shareholders. I also find blind allegiance a bit suspect and somehow question those posters motives. You know the ones….those who have consistently announced that this is just another buying opportunity for over a decade and have averaged down by 10% for the 50th time.
Eyebuy’s perspective is just as valid as the next posters….and he/she doesn’t have to write an epistle to make their point…..
Maybe I am mistaken, but didn’t a member of our esteemed board help steer this company named Patriot Scientific smack into the ground? Someone recently posted something to the effect that there wasn’t any issues with this board…..with that kind of resume….I would submit that there is in fact a lot to be leery about. Posters who recently tumbled off the proverbial turnip truck that discount long term shareholders who have a decade or more of history that are questionable of this clan, in fact do have the basis for skepticism. Management never takes any questions on conference calls from retail shareholders and has gone out of their way NOT to promote the company at the detriment of retail shareholders.
Why is it that every time I see articles about immunotherapy cancer drugs, PPHM is almost never mentioned? This platform is way too far along human trials to be not included in the mainstream conversation. Heck…..MD is our #1 promoter of this company….thanks MD….does anyone see anything wrong with this picture? Maybe they would be getting 3,4,5 dollars a share with all this dilution if it weren’t for this mickey mouse operation we still have firmly in place.
I expect that we will finally get our long awaited Phase 1 announcement tomorrow….with the estimated enrollment completion time around 2018 if it follows the imaging trial progress.
The March Madness hoopla ended up being just another PPHM retail shareholder “Rope-a-Dope” as expected.
The deck has always and has always been stacked against small biotech’s like PPHM. We have an awesome compound in BAVI. As I see it today, the foundation that I believe in as it relates to PPHM is a three legged stool…..Thorpe-Garnick-Worsley….period…that is 90% of the bet right now and that is what keeps me here. I believe collectively they will succeed.
Bottom line, we all want BAVI to receive approval as quickly as possible. Just because some question or have issues with the path taken doesn’t make them candidates to have their well thought out views discounted or hiked on.
All IMHO.
+++And the evidence you have that Steve has turned down fair offers is?
A half decade of partnership meetings and you are of the belief that every single one of them was a "low-ball" offer....be my guest in adopting that mindset. The probability that the above occurred is remote from my perspective as it relates to Bavi AC.
If King is so convinced he has the greatest platform for cancer and his pride and or arrogance prevents the program from proceeding via a partnership or merger that would result in the program proceeding with more of a sense of urgency "for all parties potentially impacted" (ie shareholders and patients), then a grave injustice has occurred on many fronts.
You can defend him all you like, the fact is a ton of time has been squandered while Kings apparent lofty demands have been turned down by everyone at the other side of the bargaining table as we sit today with our sorry market cap and share price.
+++if Bavi is all that we believe, the SP and market cap should be well north of where we are.
I agree. Logic dictates everything your gut is telling you. Any number of BP’s should have made an offer to partner or merge long… long ago. Since this isn’t the case, either:
1) King’s demands/expectations are beyond unreasonable in these half decade long “talks” or
2) Based on BP’s due diligence, they simply aren’t convinced that “value” is there yet to make a move.
Expecting that Peregrine is going to enroll 600 patients in the phase 3 study in 24 months is wishful thinking with the company’s lack of promotion and “believability”… We needed a CEO with a proven track record of “delivering” to have been promoting Bavi A/C for a long time….The fact is, King’s n’th dog and pony shows are proven to be of little value. The information is nice, no doubt, but the well documented track record of seldom meeting expectations and self-imposed deadlines is proving to be a hindrance in how the overall message is received.
I remember the regulars on this board jumping for joy about the “potential” of the imaging trial….have we even enrolled 5 people in 2 years yet? Again, lack of enthusiasm being fostered by the person delivering the message is materially impacting the programs in a negative way not to mention the share price at which the dilution is occurring that ultimately crushes the upside potential of longtime shareholders. Like it or not, these downstream impacts are the direct result of talking and not doing over a long period of time. It is almost March, and the liver trail can’t even complete enrolling when it has been described that almost nothing can be combined with the SOC effectively. Can anyone offer a valid reason why enrollment timeframe would be so disappointing? The pages on the calendar keep blowing by while the dilution machine keeps running and the progress keeps crawling. I believe that this “go it alone” strategy has been a disaster as it relates to a variety of other trials that should be funded but haven’t been over the last half decade. Let’s hop in a time machine and go back to the time when the Georgia and India phase 2 trials concluded. Had we partnered then….even resulting in a vanilla deal, the program would have been way further along by now and the long-term shareholders would have been way better off and could imagine a market cap in the billions by now with a late stage breast cancer trial hitting on all cylinders.
Someone posted earlier that Bavi will succeed in spite of the CEO…I concur. Unfortunately, at this rate we may be very well be facing yet another negative variable whereby Bavi succeeds and while the shareholders….were “right”, may just miss out on financially benefitting in the event a currency crisis takes place before this endeavor is “monetized”.
Let’s hope that something positive transpires real soon. I have to believe this new hire assisting King knows how to play this game, my only concern is King going overboard playing hard-ass with what otherwise would be deemed to be fair offers from potential suitors.
All IMHO
Let me take a stab at answering that question you posed….
How can anyone following this stock for a long period of time not be utterly disgusted by the current market cap and share price? The recent Phase 3 announcement coupled with a viable partner would have, could have and should have vaulted us to a market cap in the neighborhood of $1B in short order. Every day from this point forward that long-term shareholders are expected to just sit back and suck on this share price and their “go it alone” current strategy is a bit much to ask. As of this point, management has failed to monetize the Bavi A/C platform. Maybe that will change shortly. It is now 2014 and this company is still sucking wind. Some find our current standing a slap in the face. I suspect many folks that are deemed adversaries to management simply expect the market cap to reflect the value of Bavi A/C after the major financial risk taken up to this point.
While King’s recent epiphany that led him to wave the white flag and finally employ the services of this experienced deal closer is a welcomed sign, I believe that decision is a about half a year late. He probably finally realized that he was the equivalent of a 1st grader being dropped into a finals table at a World Series of Poker and he wasn’t faring well. What is the cost….tons of unnecessary dilution and limp along progress of other indications that should be in a whole different gear with partner on board. Why didn’t King have the foresight to bring this deal closer on board once it became apparent that the data would be reconstituted and accepted?
Perhaps something will finally materialize from the liver trial in the first quarter. We all know King has popped off about what he appeared to be seeing for a very long time now. Let’s hope the preferred shares landing in the right hands have their desired impact once the game plan is divulged.
Isn’t it past time the shareholders expect more from this management team?
$1.38 share price after the announced start of the long awaited Phase 3 Trial….to borrow a phrase from that Monday night football pregame show…
C’MON MAN………
All IMHO.
+++Sorry to see microbe leave
Maybe I missed where he said he was "leaving"....
Longterm stockholder's who expect reasonable returns based on current results and apparantly have the background to question what is going on maybe shouldn't be hiked on.
What is more perplexing....is the blind defense of this regime given their failure to produce.
What is the definition of PPHM shareholder insanity????
Voting year after year for the same management team and expecting a different result……refer to the stock price chart under King for more clarity.
Do I believe they will finally partner for Bavi A/C…..sure. What irks me is the opportunity cost that is gone forever when it comes to aggressively moving the platform forward for other indications that a major BP with its financial resources would have explored. A plethora of other indications have been stuck in first gear for a half decade due to greed, incompetence and buffoonery…period. Breast, and prostate come to mind. We can’t even enroll a 30 patient liver trial in a reasonable amount of time.
What exact trials besides our phase III results are expected to move the needle? Rat data…..Wall Street doesn’t give a Rat’s A$$.
The phase III PR launch minus a partner will be met with a giant collective yawn by wall street.
Someone distinctly resembling Stephen King……
Was seen doing the “Michael Jackson” moonwalk in through the out door of the quarterly “Greater Tustin area CEO excuse seminar” wearing a ball cap, large sunglasses and ZZ Top style fake beard in a feeble attempt to avoid detection in preparation for tomorrows shareholder’s meeting.
My expectations have now reached subterranean levels. Barring any last minute positive PR’s ….they should have just saved the $50k and just rented out space at a local funeral parlor.
This company has become a black hole of information regarding where we actually stand on numerous fronts and it is becoming inexcusable.
Was any accelerated approval even applied for? If it was, what was the reason for rejection?
The net result of the Fargo fiasco was King and company getting their face rocked by the schoolyard bully (ie from the fill in the blank BP) with a straight right, sack lunch and milk money stolen and now we are trudging forward with visions of grandeur that we are going to enroll this phase 3 study on our own and without any help with funding….we’ll show them….. The tables are stacked against small cap bios and this go it alone strategy is looking more and more reckless as the days go on. I wish the playing field was level, but it is obviously not.
I sure hope they have a surprise up their sleeve. The fact that any accelerated approval hasn’t been announced as of today is extremely concerning. All the hiring and removal of the going concern points logically towards this….nevertheless….here we stand.
The risk that should have been mainly alleviated for long term shareholders via the phase 3 approval somehow hasn’t materialized in the share price.
The inept promotion of Bavi AC has cost current shareholders dearly over the years in the form of retardly low share price dilution. Heck, it took a shareholder like MD to take the initiative to do the companies job and post articles to help get the word out. (Thanks MD for the effort)…how sad is that…what does that say about the lack of business acumen regarding the folks referred to as our leaders.
It is obvious that we have 2 camps on opposing ends of the expectations spectrum on this board….
That fact that King has been unable to get 2 competing BP camps to actively bid on either an amicable partnership or buyout as is stands today is beyond inexcusable…unless…there is a pending accelerated approval in the works that would serve as a negotiating game changer. Absent of that, King has failed miserably….
We are left “hoping” that something more is going on behind the scenes.
All IMHO…
+++PPHM in the last Quarterly just stated that they have sufficient cash to operate Q1/2015. No immediate need for ATM.
That is fact. The rest is Ballyhoo.
Cloaked...I believe you have really missed the mark on this one. Now that we have done away with the going concern, Ben Bernake's close relative...ie our CFO will of course keep 1 years burn rate in the piggy bank going forward via the ATM....
And at these share prices, we will need to get a turbo-charger installed.
All IMHO
Let’s dissect the current $205M Market Cap of PPHM….
$40M in cash
~$75M for Avid
Leaving ~$90M form Bavi AC, Imaging, Cotara and the rest of the next generation platforms.
$90M….As it stands today…is an absolute joke. , I don’t believe that valuation has increased at all compared to where it was a half decade ago as Bavi A/C has progressed through the clinical trials.
Pain Points….
1.Last year management saying that the generous 8M shares in options were enough for 2 years to now asking for an additional 4M. Where is the oversight to stop them from asking for 8M, 10M, 15M…tell me when to say stop. Everyone comes to a point where they say “this is getting ridiculous”…mine was when they came back this year and asked for 4M more.
2.Diluting at these prices while doing little to nothing to “minimize” the negative impact to current shareholders by releasing any positive news.
3.The current situation for King et al is like a nice warm bath tub that affords them the ability to just keep the crappy status quo going for as long as shareholders will allow. A partner would cause the plug on the tub to be pulled. They no longer would have borderline absolute control and would have to include better qualified input from professionals outside of their good ole’ boy kingdom they have created……Good for shareholders and patients….bad for them.
Can anyone here tell if BTD or AA has even been applied for? Why is this still a mystery? The communication of the management team is abhorrent. The fact that an early look crumb of info had to be shaken out during the last conference call is ridiculous.
This year’s shareholder meeting should be the greatest celebration of the company’s history. It “should” include a senior member of the partnering company explaining….in clear detail….on how “they” are planning to advance the platform with their vast resources.
Instead, we will probably get….2016 is gonna’ be our year….trust us.
Vote NO… and pull the plug on the tub. It is past time to get this thing moving forward with a greater sense of urgency.
+++So bavi gets to market a year or two later than it would have if the bod made a deal a little earlier, before they stuffed their pockets with more options. What's the fallout? Some people don't live as long as they would have. Oh well. By all means, vote yes.
That's the opportunity cost of greed.
Exactly....Vote No and watch how fast "the right deal" magically comes to fruition.
The word "shady" was used to describe the fact that some early look information had to be begrudgingly extracted from this management team during the cc....I agree.
These folks simply have no shame. If enough unsuspecting shareholders allow this to continue...we will become the myspace.com of the oncology space. We are well on our way.
This is sad.
I have no problem with the recently adopted “go it alone” plan suggested by many here provided:
1) A BTD is announced
2) Team Peregrine agrees that no further “free option shares” are awarded starting now”.
(Whatever’s good for the goose is good for the gander)….right….shouldn’t any further dilution pain be felt equally? The second line results were declared a “score” after all…weren’t they? Should King declare we limp forward alone,…let’s all pile into the same boat for a change.
I concur with MD... (the most recent card carrying club member to the PPHM dirty diaper club)...$3 a share minimum when the proxy vote is due or vote no. The self serving management team needs to be reigned in.
Think of where us long-term shareholders would be had Bavi AC been partnered after the Georgia and India trials a half decade ago…and how much further along the platform would be in helping cancer patients in a variety of indications…not to mention viral.
I noticed the deafening silence on this board regarding the delay of enrollment of the liver trial …..it went from “second half of 2013” to…. you guessed it…next year. While I understand this trial is an IST designation and that they have no “apparent” control over the enrollment….it equates to 10 participants per year while King has been in a round-about way touting how stellar the interim results have been…all while this subject has recently gone silent…follows a familiar pattern to those paying attention.
Anyone want to go on record proclaiming that no “reasonable” partnering offers came to light regarding Cotara over the last 2 years…how is that working out for patients, shareholders and the company…. The probability that 1 reasonable deal wasn’t offered…from my perspective, appears remote.
It seems that some posters here…ie..../ PPHM family members & employees / paid pumpers pre-suppose that the rest of the long term shareholders adopt this timeline for achieving financial success regarding this endeavor should stretch out into infinity…or that the shares will be part of their will for future generations…..Please understand and try not to be offended that many don’t share that “fringe” investing philosophy.
Let’s review:
According to King , we had so many partners climbing all over each other to take part in partnership talks last year that it was becoming “a second job” to….currently not being able get even 2 competing squads to propose a viable offer “today”…..and a now it becomes a good idea to limp along/dilute/ “trust management”…..beautiful..
I greatly admire Thorpe & Garnick for their dedication….but that is where that admiration ends.
+++We have 325 Million shares authorized.
All math on PPS when we hit it big time should use this number for your little math exercise.
Feel better now??
No I don't.
That logic, given our current situation, borders on lunacy.
With all due respect CP…….
I am perplexed as to why you fail to understand how long-term shareholders find the following insulting:
Last year management stated….
Quote:
________________________________________
We expect that with the additional 8,000,000 shares for which we are seeking stockholder approval, we will have sufficient shares for our equity compensation program for at least two or more fiscal years
________________________________________
And now they have the audacity to come back the very next year and request an additional 7M shares.
Can you reconcile why this should be acceptable to the retail shareholders given the ROI afforded by this regime?
As it stands today, the deplorable share price and obnoxious outstanding share count are the direct result of a squad that has been extremely poor stewards of company resources. Period.
The adversarial relationship between themselves and many retail shareholders is all their making and wouldn’t have been all that difficult to avoid.
Over the past….ooooh…half decade or so, management could have sent a message that we are all in this together by reaching into A$$ international, and making a serious market purchase of shares outside of the granted options. Except for Swartz, they refused to and it says “a lot” regarding how these guys roll.
Many here argue that “we don’t want to give the platform away for pennies on the dollar”…in a round- about way, they sort of already have with the massive dilution at these arm-pit share prices. If a partnership was really close to being finalized, that probably wouldn’t have been necessary. As it stands, it doesn’t appear Steve’s go it alone bluff is panning out. Cup a hand to your ear and point it towards Wall Street…they are booing PPHM.
The share price, shareholders and PPHM are collectively suffering from an acute case of Stephen King’s “a boy who cried wolf syndrome”. The final crutch just got kicked out from under management when the frivolous lawsuit was dismissed. Time to produce….yesterday…not some hopeful day after management wastes more time attempting to extract every n’th dime from a potential partner. We are wasting time, Cotara is sadly rotting on the shelve when it should have been well into enrolling.
The undue misery that this management team has wrought on the long term shareholders is simply inexcusable. The second line lung cancer results sell themselves, and yet King, as of today, hasn’t been able to capitalize.
In my opinion, Bavi A/C should have been partnered after the Georgia and India Lung and Breast cancer results even though some say the results were questionable based on cherry picking the patients.
I believe the platform would have been way further along in other indications, we would have better control over R84, outstanding shares would be materially less than where we are now and the share price, who knows how high had one of the countless offers been accepted.
King and company are too “comfortable” with their gig, don’t feel enough pressure to deliver and have failed to provide a reasonable return on investment given our current situation.
Take a look at the stock chart under Kings tenure. The technical chart description is rightfully branded “man urinating off a cliff chart formation”….not exactly one of the more sought after ones to be invested in….and given the incredible success of second line lung, makes little sense. The current report card for this regime is the share price….like it or not. The constant whistling the theme song to the musical Annie by many here just isn’t cutting it any more.
Maybe everything changes in the next 30 or so days with some expected good news. I welcome it and somewhat expect it. I would suggest that King drop all remaining ordinance as it relates to positive pr’s coming into this upcoming vote….I believe he is plum out of shareholder goodwill and shouldn’t take the upcoming vote foregranted. I’ll withhold my vote until the last minute, but if everything remains as is, voting against management will be the easiest decision I make all year.
Show me the money….not too difficult to understand.
…Awesome research Eyebuy on BTD, very impressive.
All IMHO
+++Flavor of the month? PPHM never participates in them. I.E...Bird Flu.
Actually...that is incorrect. Remember PPHM attempting to pump an aerosal bavi platform during the bird flu scare years back.
They in fact have particapated.
+++Based on what I have read, if bavi in 2nd line lung isn't worthy of BTD then the FDA is corrupt as hell.
Agreed. The FDA corruption "acid test" will ultimately be determined in their decision related to some sort of accelerated approval or not.
If they operate on the up and up, I suspect we will get an accelerated approval designation shortly.
+++Proxies are usually out in August.
King better get "talking" faster if that is the case.
The pom-pom brigade is getting pounded into pudding today as the facts simply aren't cooperating with their defense of management.
To run with CP's college funding analogy...
How long should shareholders be expected to fund King’s 8 year long financial picnic at our expense while producing grades like Blutarski on the movie Animal house….(insert the PPHM stock chart during Kings tenure as CEO here) and start defending. I’ll take the other side of that debate.
It almost seems like some of Kings defenders think this shareholder exercise should operate as if we were funding UNICEF. We finally had one of our shots on goal go in the net and we expect to be rewarded in a reasonable time frame. That shouldn’t be too much to ask. Going forward alone with the Phase III isn’t an option in my opinion and it’s time to get this platform moving with a partner.
If King can’t make it happen, it is time to put a for sale sign on the company via a no vote by the shareholders.
The company did a fantastic job of reconstructing the data and I hope King comes through by the time the proxy vote comes out. However, I’m getting the sense that more and more shareholders are becoming fed up with this regimes inability to produce and the vote “for” them this time is certainly less than a given….as it should be given our current circumstances.
It’s all about accountability.
+++I would argue it set us back 3-4 years.
As it stands today, that appears to be a reasonable assessment.
What bothers me most is that PPHM IR was stated as saying that the "FDA was lending a sympathetic ear" and yet only awarded Peregrine a vanilla Phase III go ahead.
-No AA
-No Breakthrough Designation
-Not even an early look...someone correct me if I am wrong on this one
The FDA had/has an opportunity to rectify the damage that this one individual has wrought and chooses to sit on their hands.
If we know all there is to know about the Phase III protocol as we currently understand it, then the outfit behind what occurred hit a grand slam. I have a big problem with that given the fact that the FDA could have and should have employed a reasonable amount of logic, looked at the results objectively of this very sick patent population and said...."You know what, given the safety profile, survival outlook and results of the 3mg group...go ahead and start helping people now while you run our agreed upon Phase III.
That apparently hasn't happened...and that bugs me beyond belief.
Did Garnick and King not even lobby for this? I can't imagine why they wouldn't.
Maybe it is in the making, but as usual we are kept in the dark.
Here is my line in the sand….
In the event management is unable to secure a partnership by time the proxy vote is distributed, I am voting against this regime. King and company simply don’t deserve another year, no more next month’s next years ect…. From my perspective, they no longer deserve any benefit of the doubt for another year of guiding the company. As it stands today, they have failed miserably to have the share price and market cap remotely reflect what the perceived value of this company has going for it.
Management’s obvious disdain for the retail shareholders by their actions who have supported the company is absolutely appalling. The latest smokescreen of needing to wait until the frivolous lawsuits have resolved is questionable at best. Now they are attempting to divert attention back to preclinical hopes.
Let’s reflect on the Stephen King conference call battle cry’s for any newcomers and those with long term memory shortcomings:
We went from:
Deciding to settle the China lawsuit by giving all the financial benefit to Epstien and receiving 50% stock ownership in Medipharm along with the 100% rights for Cotara. Can anyone please show me where the equity position in Medipharm shows up on the Balance Sheet? Regarding Cotara, King lolly-gaged the platform along until it became ultimately a non- issue….much like Oncolym….
Remember Oncolym….one of Kings first evecutive orders was to buy Oncolym back for $200k upon taking over the helm. There was no business reason to purchase it back…correct me if I’m wrong long term longs.
Fast forward to the most recent party line dejure regarding Cotara….While questions were raised as to why they haven’t partnered Cotara at the conclusion of Phase II….King gave the impression that …”Our potential partners are waiting to see what the Phase III parameters are before partnering”. 7 months later, it appears that his statements were misleading if nothing else. As it stands, Cotara….both phase III protocols have led to absolutely nothing in spite of the great results achieved in the most recent patient group in India.
The fact is, we have a CEO who Is grossly adequate at promoting, selling what out platforms have to offer and unable to secure any viable partnerships besides the two stellar Dias and Stanton deals that have served as just another cruel hoax in a long series by PPHM management. He has no…repeat no credibility. Nor should he given his track record….saying dumb things like expecting a marketable product by mid 2012 was reckless at best.
They led us on, by their words, that everything is going well with the governmental hemeroragic virus trials with the government. Shareholders were led to believe this Duke Paper was going to be a game changer….the bird flu bavi aerosol was is the making…and “Animal Rule” was looking good.
They also touted false hopes of biosimilars. We almost had 2 new board members…
From my perspective, King has this false perception that PPHM operates in a vacuum…that there is no sense of urgency and no other outfits that are racing for viable products but us. I am fearful that his arrogance, greed and incompetence could possibly lead to Bavi following a similar path as Cotara and Oncolym if our platforms aren’t transferred to a competent BP.
Take R84 for example, Kings inability to promote “the next generation Avastin” ended in a crap deal to an underfunded company. The rights have been passed around more times than a joint at a Grateful Dead concert and as it stands, shareholders probably will never benefit in the event this compound makes it to the finish line as ownership to the rights are probably in question as the compound resides in Russia….I’m sure shareholders can rest assured that our financial rights are protected by our stellar board….see the China outcome as a benchmark. I believe the R84 antibody has enormous potential….but PPHM management screwed this one up as well….dealing it out for basically nothing.
Shareholders are consistently left in the dark regarding matters that should be shared. I realize that “they” can’t take questions from every loon that calls in but in essence King is the master at basically hiding under his desk and says as little as possible to avoid blame or answer reasonable queries.
Let’s evaluate our CFO:
Twice he was quoted as saying: “We will not consider selling shares at these prices”…twice he lied.
When we were kicked off the Russell by a 300 share literal last second 7 cent drop as the final trade of the day….do you think he would stand up and fight for the companies standing…..
Once leading up to a Russell he decided to dilute, which resulted in us getting kicked off. The timing inexcusably retarded.
How much skin in the game to these guys have? They historically hid behind this “windows” argument. They dilute, grant themselves more shares that more than offset the dilution to retail shareholders and go on their merry way. Retail shareholders should be livid regarding their attitude.
These aren’t the kind of folks you want representing retail shareholder interests. They probably go to bed laughing at retail shareholders. They should be ashamed.
Now they give the impression that they can go forward with a Phase III lung cancer trial on their own and enroll 600 participants. From the outside, this looks like a half-baked bluff given they can’t even enroll the tiny liver trial in under 3 years.
I could go on.
I am hearing posters saying they will give management until the end of the year to partner. Given the above history…do you really trust this regime to look out for the retail shareholders’ interests for another year if they don’t have a partner and a change in the BOD by proxy time? I don’t, and can’t imagine given management’s attitude towards companies retail shareholder’s.
While Teknuloof’s poll may have exposed some overt optimism….The share price estimates and dates for the most part weren’t that far out of line if we had a competent CEO negotiating a deal. Even with the frontline line and pancreatic trial misses… the 2nd line results remains head and antlers above anything out there.
Bottom line, I desperately want our compounds in the hands of a well funded BP that will move them forward with a sense of urgency and see how it pans out. If there is no partnership by time the proxy comes out, I hope the vote against management wins and we start hearing valid buyout offers that benefit shareholders and potential patients.
At the rate management is going…..everyone but them loses.
I think this board is awesome and that long term retail shareholders deserve better than the treatment this current regime has exhibited.
All IMHO….
++++Needs to be in place by debacle anniversary date which is fast approaching IMO
From my perspective, a viable partnership needs to be in place by the next proxy vote. If not, a majority vote against management may be would send a signal that shareholders have had enough of the "were in talks" party line and are open to buyout offers.
Time for King- of - Talk to get this technology moving forward with a well funded partner that shows a greater sense of urgency.
Time's a waisting.
From the ashes of disaster…….
Grow the roses of success!!!!!!!
While I can appreciate the “conservative” approach of analyzing the data as it relates to the 2nd line study by solely comparing the 3mg/kg group vs all others, just for grins and giggles, I would like to also see PPHM assemble a MOS chart all four “groups” IE:
3mg/kg
100% of patients confirmed to have been treated with only 1mg/kg…if that can be determined
Patients with cycles of both placebo and 1mg/kg
100% placebo
Maybe I missed the announcement whereby PPHM shared that the 3mg/kg group had reached the MOS point. Could it be that this event hasn’t occurred yet? If not, the 13 month interim number must have been surpassed by now making it 14, 15, 16 months? Isn’t Peregrine obligated to announce this if in fact it has occurred?
The newly formed “control group” will obviously be greatly skewed. If the 3mg/kg group does in fact come in somewhere in above estimated range, the difference will still be outstanding. From a logical perspective, I use the well documented historical average of the control groups as the ultimate measuring stick…making the 3mg results look awesome. 40 patients is a good sized sample.
It appears that the conservatively projected MOS numbers for the other 2 phase II trials are still flying under the radar for the mathematically challenged investors.
PPHM appears to have survived the asteroid strike. The painful dilution that we just experienced bought us 3 more months of positive MOS leverage with the other two trials as the partnering discussions begin to heat up.
Onward and upward!!!!!!
+++What does PPHM still need money wise to get the job done solo? Maybe another $50 to $100 million on top of the $30 million, plus curtailed spending on nonessential operations?
What is Cotara worth if it is sold outright after the FDA replies with a P3 decision? Any estimates? I understand that the paved path would be partnering, but wouldn’t the proceeds of a Cotara sale coupled with the recent loan provide enough capital to at least give the impression that Peregrine could go it alone?
Let’s pretend shorts / naysayers…
Let’s pretend:
1) The MOS for the 2nd Line Lung Cancer trial comes out approaching or “beyond doubling” the SOC numbers. Somehow, I won’t be surprised that on Sept 7th, the speaker trots up to the microphone and announces “ Today, I would like to share with you the MOS results for our 2nd line Lung Cancer trial….but I can’t since that metric hasn’t been reached.” Even if it has by that date, it will blow away the SOC.
2) The front line Lung Cancer MOS announcement trucks right by Thanksgiving, Christmas and New Years….unannounced.
3) The Pancreatic Cancer data starts giving onlookers hints that the results will be stellar as well.
4) The FDA finally returns a favorable decision to Peregrine regarding moving Cotara forward with a PIII trial.
5) PPHM secures a bridge loan for $20-$30M that allows the data for the above trials to mature further and strengthens their bargaining position.
6) The “infamous signal seeking” phase II trial breast cancer results were legitimate. I have witnessed droves of Bob Uecher look-a likes sitting at the top row of the right field bleachers screaming out “He missed the tag” to the home plate umpire by proclaiming the patients were “cherry picked…and that data can’t be trusted…..and on and on.
7) The Cotara results witnessed in India ie the(18 mos survival) weren’t an anomaly but were the result a highly skilled doctor who found a methodology for catheter placement that can be replicated with his training.
8) The liver cancer trial returns favorable results
9) A vertex/ribaviron/bavi type HCV trial gets funded…..but this time with a way longer tracking period.
Still want to stand on the tracks with the train whistle blowing and your thumbs in your ears wagging your hands with your tongue out? Go for it.
The market cap as it stands today is still a joke.
Oh what heights we’ll hit…
On with the show this is it!!!!!!!!
The trial results certainly aren't coorperating with Dew's distorted Bavi AC perspective.....are they?
+++Love to see cotara sold and proceeds used to take bavi thru AA w/o partner (for now). And then let the bidding begin.
Exactly Jake. We are currently playing a game of poker / chicken with potential buyout partners with our pant pockets turned inside out and with a very short stack on the table to bluff with. Stuff enough cash in the bank via an all out sale of the Cotara platform, (enough to take the Bavi 2nd line lung indication solo to the finish line) coupled with stellar lung results that appear more likely with each passing day, and watch the real offers come out of the wood-work in the $ neighborhood we all have envisioned for a long while. Add potential positive pancreatic results later this year and the end game should be near.
Just make sure you have your depends in the upright and locked position when they release the MOS results of the both Lung Cancer trials....you may not like how this pans out if you are rooting against the success of Bavi AC.
In the event the FDA comes back with a favorable ruling on the Cotara phase III protocol, why not outright sell the entire Cotara platform and "threaten" to take Bavi to the finish line solo for 2nd Line NSCLC with the proceeds if the MOS is impressive.
Then the $1.5 - $2.5B valuations being thrown around have some vailidity. BP isn't in any hurray to throw out any fair offers knowing Peregrine doesn't have the financial means to call BP's bluff.
Throw in some favorable preliminary Pancreatic and Liver results and this armpit market cap that we currently sit at will finally seem like a bad dream in our rear view mirror.
Defending King's performance is an absolute joke. It is basically indefensible.
Let's play connect the dots...
14 months into the Pancreatic trial, Peregrine feels the need to "expand the trial sites" overseas to help in completing the 70 patient requirement. While I understand the difficulty and competition in getting volunteer's in these trials, that fact that we are not fully enrolled this far is sad. King's inability to drum up enthusiasm regarding patient enrollment is pretty telling of his "believability". I guess this is the net result when you cry wolf n' number of times with no results. Presently, his success rate of projections is running neck and neck with Blutarski's GPA on Animal House....and here we stand at $.47 staring at another reverse split...and they somehow all get to keep their jobs.
We need a wholesale change in management who is on the same page as the shareholders.
The market still values Cotara and Bavi AC at basically nothing. Wonder why. Look at the incompetents running the place. Maybe we can still prevail with positive upcoming Lung and Cotara news.
All IMHO.
While the amount of time taken by the FDA to iron out an “agreeable” phase III protocol is ridiculously slow, I don’t believe it can be used as a gauge to determine what the outcome will be. The fact that the process is going on 5 months is lame even with the unique “control arm” issue. I’m somehow not surprised though.
The leaders of this company and board appear to be something closely resembling a group of human lampreys and the retail shareholders have served as the hosts. How they have retained control of the company this long with their attitude and track record towards shareholders is troubling….especially given their latest silence and lack of leadership.
The bar is set so low for the 2nd line lung cancer SOC. I still somehow remain optimistic for a successful outcome. Front line is still very much in play. I expect the MOS results to surpass SOC at the end of the trial. Declaring that trial a failure is way premature. The Bavi arm results were spot on with prior trials. I use the average of past historical chemo results as the ultimate measuring stick. Pancreatic and Liver initial results to be presented this year as well shouldn’t be discounted because of the beat to crap share price / market cap. I am still shaking my head as to why no progress has been made given the impressive breast cancer results from previous trials. Maybe I am missing something there.
In the event Cotara and the 2nd line news comes in favorable, the stock should find a valuation way north of where is stands today as it relates to both….ie zero. Up front $ and a respectable partner for Cotara buys the company the time for the rest of the cards to be played by year end. We are obviously running out of time though.
All IMHO.
First time poster…..Long term shareholder…. The fact that the leaders are reluctant to purchase shares with their own money at these levels speaks volumes regarding their commitment to the shareholders who have supported the cause to this point. I frankly find it to be dereliction of duty and believe it should result it their being kicked to the curb in the upcoming yearly vote. How can anyone with an IQ exceeding their shoe size vote for these incompetent stooges. Their lack of caring is almost bizarre as it relates to supporting the share price. The CFO basically refused to defend this company and took an “oh well approach” years ago when we got kicked off the Russell with a 300 share trade that magically dropped us off the index by 7 cents at the last moment after their Dios PR charade. His actions have gone downhill ever since. When a CFO gives the impression he is here only for a paycheck, it is time to go…..past time to go.
Let’s face it. We have a group of shiftless slugs on the board who have no business running this company. Anyone voting in favor of these Stooges the last several years is complicit in the train-wreck that has become the share price/market cap.
While Bavi AV didn’t pan out, Bavi A/C and Cotara appear to work as advertised. I am not a bit discouraged by the historical control group anomaly regarding the recent lung cancer trial. I would, however have been disappointed had the Bavi arm materially deviated from previously published results. The fact is, it did not. Logic dictates that over time, the control group number will revert back to the mean in a larger sample. I’m expecting favorable O/S results to call the tune as far as viability going forward.
The poster who appears to pull his deceptive analysis out of that goose’s behind has an obvious agenda and is suspect at best. I’ll buy his party line in the event that Bavi lung, pancreas and liver show no mos gain on SOC….until that time, the jury is still out.
I’ve used this analogy before….We have what appears to be a Thoroughbred in Cotora and Bavi A/C with a 300lb jockey dragging it down in our board and CEO/CFO….forcefully remove these folks from the reigns and watch this horse move. This is beyond embarrassing.
The current share price and market cap has become a sick joke complements of the folks financially mismanaging this company. While I expect a positive outcome from the Cotara PIII “take 2” debacle with FDA “yesterday” , the fact is that the share price is a direct reflection of King talking more garbage over the last 5 years than Oscar the Grouch regarding his “we’re in talks party line”…amongst others.
Past time to deliver. … Wall street doesn’t believe a word King says, and the share price reflects it. The lazy approach of raising cash via this route has clearly run its course.
All IMHO.
Happy Easter