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Pretty damaging stuff if true.
CW No. 3 believes, based on his experience at
Peregrine and the flurry of activity following the Abbvie on-site audit of Peregrine,
that it was Abbvie who discovered the “major discrepancies” in the data from the
results of the prior P-K testing performed at Peregrine. Abbvie then soured on a
partnership when Peregrine admitted that its prior statements about the results of the
data were false and misleading.
136. CW3 also confirmed that Defendant King flew to Chicago to meet with
representatives of Abbvie in an effort to keep them interested in a partnership with
Peregrine, but to no avail.
137. Upon information and belief, CW3 believes that Abbvie refused to do
business with a company or its executives who would be deliberately reckless in
releasing statements about the positive nature of clinical data before verifying the
accuracy of the data or the truth and accuracy of their own statements or who even
failed to verify which patients received which substance, placebo or bavituximab.
All small biotechs have been taking a beating
LOL! OK so today and yesterday we don't talk about the IBB index because yesterday it was almost even and today it is up. So now it is just small biotech's taking a beating. Hmmmm.
Wow, IBB index up over 1% while PPHM is down again 1.75%. Time for a new excuse.
Not bad considering the upside potential.
Only on this board can someone make that statement. Not too many people are agreeing with the upside potential if mgmt has to sell preffered shares at $3 with 10% interest and we shall see about the ATM share prices. If pphm was only down 23% that would be equivalent to a $2.44 stock price.
IBB index down 23% from year highs, pphm down 48% from this year highs and dropping.
MM - too much of a market headwind for PPHM to stand up to
Market is only down roughly 3% from all time highs. PPHM is down roughly 48% from just its high for the year.
Nexy shock level will be when shareholders find out PL used the ATM at these levels after 60 million shares were traded from $2.50 to $3.15. No worries we will be at $2500 soon even though mgmt only thinks we are worth $3 max plus giving away 10% in interest. All imo.
Who lit the fuse
Huh?
Time to wook it up. Early Easter present! Another buying opportunity at $1.70. It will never be this cheap again.
Volgoat, where are you hearing rumors of complete response/cure re viral with BB's?
Same place he heard where there would be no RS, Barda contract, govt contract, duke paper etc...
Wanting to have a partner before going to the FDA and before the phase III trial design is late since the event happened.
Wanting a partner before the start of the BAVI trial is late as it has the trial has slowly started.
Agreed if you want to play word games they techinically are not late in starting a phase III with a partner for Cotara since it has been on the shelf for almost 18 months I believe.
Unfortunaltely the ones he has missed (partners and commercial product) are the ones that would create the most shareholder value and would have kept dilution to a minimum. Then again when diltution does not affect mgmt it probably is a don't care condition. All imo.
So if indeed the only thing holding up a partnership are the lawsuits which some people want us to believe then it is incredulous that our lawyers wait for the last minute to file and then screw it up to boot. Yet we are supposed to trust pphm in running another phase III trial alone. All imo.
just sucks that SK announced the Q1 start at Roth on 3/10.
SK has said a lot of things that haven't come to fruition. His words have proved to be almost worthless. Here are some examples:
SK stated he would like to have a partner on board before meeting with FDA for phase III guidelines for Cotara. Result - no partner on board
SK stated he would like to have a partner before Phase III trials begin for Cotara. Result no partner to date
SK stated he would like to have a partner on board before BAVI meeting with FDA for PHase III design. Result - no partner on board
SK stated he would like to have a partner before phase III for Bavi and a partner eventually. Result - no partner to date
SK stated he hoped to have a commercial product by mid 2012. Result no product to date. Note tainted trial happened in Sept 2012 so he was already late.
SK state Yervoy trial would start by March 31, 2014. Result - delayed
SK stated we have a China subsidiary. Result - no mention to date
SK stated PPHM tends to flow with the ebb of the market. Here he is usually right when the market is down. However market still close to all time highs. PPHM still about 40% down from RS price.
Lets hope SK can start to gain some credibility back. Looks like we have gone through our big March Madness and early April news period. If we have to wait till ASCO for more news we will probably drift lower. All imo.
LOL! They really do read these boards. PR out at 11am.
Well it is past 8:00am and no PR's. I guess the late breaking abstract wasn't worth a PR? Of course there is always a chance IR would actually PR something at 9:30 after all they do read this board.
If mgmt wanted to burn shorts they would release rat news at 9:30 instead of 8am. Releasing news at 8 am gives their buddies time to execute their strategy as that is why you always see upside in premarket only to close down or at lows of the day.
LOL! SK is already on record stating he hoped to have a commercial product by mid 2012. How is that working out? Yes clock is ticking......
It is amazing. It used to be wait another six months. Now the rally cry is wait another two years! You can't make this stuff up.
"I know King strongly suggested a deal will be done this year."
He said the same thing last year almost word for word.
King just recently in front of investors at a conference stated that the Yervoy trial would start by end of March 2014. That day has come and gone. His words to date have been worthless. All imo.
Supposedly, the person involved left the company and ended up at a company owned by a financial company in a position she did not have qualifications for and probably making a salary she is not qualified to earn
You could be talking about our BOD, Paul Lytle, Boyd or who knows how many people at PPHM. All imo.
So, why put out a positive PR at 4:00 (after close) instead of 8:30 (pre-market)...it would seem the PR would get a little more attention in the morning?
Who knows but this is what you get with an in house IR/PR team who have no connections or know how. This has been going on for years with their 8am or 9am PR's which probably allow their buddies to setup their positions which is why you always see huge upside pre market and then close at the lows of the day. It makes no sense to put out a positive PR at 4pm in the afternoon. Just once I would like to see them release a positive PR at 9:30am or during the day. It does make you wonder about their motives Again the worst PR in their history was released early Monday morning instead of after Friday's close when we all know they knew way ahead of time they had a problem. All imo.
after 10.30 it will be swift and painless the shorts
must be shaking
Huh?
Yes some people are always looking for an excuse for mgmt. SK just reiterated the start time at a conference for crying out loud and then nothing. Yet SK says.....
Still another missed milestone that came from his own mouth. Once again credibility takes a hit but he did say we are in talks........
So did SK missed another projection as I did not see a PR on the start of the trail that was supposed to start end of first quarter? Yet people continue to say SK says this. Maybe I missed it. All imo.
Since posters like to post when the IBB is down today pphm is lagging the IBB index. I don't believe it matters but it is peculiar that it only gets posted when it helps. I wish I could read a new newbie list. That should give us a rise!
I won't be surprised to see that the ATM was being used during the run up
If any ATM shares were sold below $2.50 within the next six months PL should be fired and sued on the spot. We had two trading days of 32 million shares from 2.5 to $3 and if there was any doubt we needed to sell more ATM shares they should have sold them. As a matter of fact they could have sold ATM shares at higher prices than the preferred and without having to pay the interest. This despite the fact that we are still trying to figure out why they have to sell 16 million shares at low prices before the preferred. All imo.
Are we really supposed to get excited about more rat data? We already have been there and done that with AACR. Nothing of significance will come from the conference. We have two trials ready for phase III how about accomplishing what was stated was the objective.
Why wouldn't PPHM add a seat with someone from the industry just to see if it helps with Wall St perception
One answer could be that they just don't care and/or don't want to break up the boys club or that no one that cares about their reputation wants to join the BOD.
Think about it, even if they add 2 new BOD members they still have the majority vote between the three cronies. Adding Carlton Johnson to COB was biggest laugh of them all. They didn't even know they had to PR his apppointment after blabbering it out at the shareholders meeting. He sure is getting to the bottom of Fargo after 18 months and counting.
We still have Mary Boyd (How long?), Zeisbell(since 2012) and now Worsley who have not accomplished what they were supposedly hired to do. Granted Worlsey is relatively new. How is Boyd still getting paid? All imo.
Steve said they are partnering "this year". Could be months...could be days
Steve also said he hoped to have a commercial product by mid 2012. His words are worthless. All imo.
FDA FASTRACK STATUS GRANTED TO BAVITUXIMAB. PERIOD and all we need for now.
Really? Cotara got FDA fast track in 2001. How did that pan out?
IR never comments on information that has not been disclosed officially, they don't make policy, don't out personal opinions on policy, events, etc
Didn't IR tell a poster that pphm was pulling out of a conference for personal reasons right and then weeks later the tainted trial was PR'd? All imo.
Sure doesn't look like anybody believes Brekken will present anything earth shattering. What a surprise.
If mgmt sells or sold anymore ATM or preferred shares after the 74 million shares traded day then Lytle should be fired on the spot. With those two days if needed he should have been able to sell shares close to $3 and definitely higher than $2.50 without having to pay 10.5% interest. Still makes you wonder why they sold 16 million shares at $1.75 before they released any news. All imo.
Hell management has done very little to counter any of those negative reports with positive information.
One has to assume that mgmt is not withholding positive information and that there is just no positive information. How else do you explain mgmt selling 16 million ATM shares in the $1.50's and a "preferred" stock offering at $3 and 10.5% interest. Wouldn't you want to release news prior to the ATM so that you get a higher price?
Just wait till we find out further down the road that after PPHm traded 32 million shares at around $2.80 to $3 we will be back to selling ATM shares at around $2 or below again. When you are selling ATM shares and looking for funding you would think mgmt would pull out all the stops to get a higher price. Makes you think they knew they had nothing of any significance coming out in March so they better get what they can off the hype and speculation. So far all we get is hype from pphm and no substance.
Shareholders were led to believe by mgmt that they were working with partners and the FDA to get a phase III acceptable trial for Cotara and then we find out we get approval but no partner for how long now? Now it looks like they same promise was made for Bavi and as of now we have the same results. How many times do you cry wolf before losing any credibility that you had left? All imo.
What will it accomplish ? The SEC will investigate us and do what ? Where is the positive
If somebody did anything illegal they should be punished that is why you have laws! Are you saying that if mgmt and the BOD are guilty of something they shouldn't be prosecuted just because you own the stock and it might be detrimental? I've said all along I would rather this go to zero tomorrow than have this drag on and on so that mgmt can continue to collect salaries, bonuses, stock options and board fees year after year doing nothing. Enough with the greed from all parties including shareholders who applaud mgmt for supposedly going it alone so that we can possibly get higher prices years from now? What about helping patients now? It can be a win win for everybody. Mgmt has enough options that if the stock price went to 10 on Monday they would all be multi millionaires. It doesn't make sense that there has not been a deal to date when lesser companies have been partnered. Of course this all goes under the assumption that mgmt and the BOD have something of value.
What positive can come out of it? Well if there is indeed manipulation and conspiracies that everybody claims is happening would't that be a positive if the ones responsible are dealt with so that the real potential of BAVI if it is indeed billions can be accomplished.
The only negative is if PPHM, IR, and the BOD are responsible so what is the worry?
All imo.
Just made the comment that you have yet to be right. Once. Speculate away. Bound to get one right sooner or later.
That statement can be made for probably 75 percent of the posters here that for years have been saying there would be no RS, we have a barda contract, Duke paper, Roche family, Fargo conspiracy, repeat lists of things that could happen, repeat in another six months, we will have a partnership, accumulation, manipulation, we are worth billions, it would delay progress by replacing the board, the ATM is shut off Cotara is not dead, wait till AACR, wait to ASCO, this will be our year! etc... I am sure I missed plenty more. The problem is we are still waiting for them to get one right sooner or later. All imo.
If mgmt and pphm did nothing wrong than what is the problem? You really think reporting to the SEC will get pphm delisted if they did nothing wrong yet people believe Fargo was done intentional yet nobody could prove that. Time for mgmt to produce . We now have at least three people (Boyd, Zeisbell and now Worsley) being paid who have produced exactly nothing to date for the shareholders of which they were specifically hired to do. How much waste does this company have? They have gone through numerous high level people leaving when you would have to think why would thy leave if they are this close? People are dying and the science is getting delayed either by mgmt.'s greed or their deception of what they really have.
I applaud Eye. How many more years of lists and the famous in six months do shareholders have to endure while the stock price is still ridiculously low while the same BOD and mgmt collect their fat paychecks, bonuses and options while not creating shareholder value. All imo.
What does PPHM that other small biotechs don't?
You forgot the most important fact:
PPHM has a BOD with shady history, ties to penny stocks, ties to each other and a history of being in talks. All imo.
Who cares about other drug companies? Most of the drug companies are not lower by 30% from where they were five years ago.