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I'm glad the word MAJOR was removed from yesterdays release.
Rolodog
My understanding is the FDA is an active participant in the Double Blind section of the study. It may be their employees agents or vendors to the FDA. I'm sure there are people on this board that could shed some light as to the Double Blind criteria and management of that aspect of the study.
I do not think the sky is falling. The other trials will provide data that will either support the anti-cancer activity or not. All indication is that Bavi works and is well tolerated.
I'm not selling or going anywhere..
Anyways got to get to the Y..
Rolodog
Hayward:
My understanding is the FDA is the active partner for FDA approved Double Blinds. Perhaps we should direct some frustration towards the FDA ?
Makes one think that the mix up could be something simple like 1mg doses vs 3mg doses..
Rolodog
asmarterwookie:
here is a video from way back to help those that are technologically challenged.
www.youtube.com/watch?v=yjXTOlsE8k0
Rolodog
You know that Pascal Soriot is taking control at Astra Zeneca next month. I believe he is the guy Garnett reported to at Genentic when he got Avastin approved...now, if Garnick would only make a call .
http://online.wsj.com/article/SB10000872396390444914904577616703186097724.html
Rolodog
Loofman:
I wish to add my prediction of $13.24
Thank you
Rolodog
Well, this relieves me of an "on going concern"...
Rolodog !!!
Thank you RRdog, too many post to read...Looks like September 7th could be a blockbuster day.
Rolodog
Since Ayer Capital Management bought a large disclosed position in Peregrine, I thought we should know the managing partners education
Rolodog
JAY VENKATESAN BACKGROUND / BIOGRAPHY
Jay Venkatesan, MD is the Founder, Portfolio Manager and Managing Director of Ayer Capital Management, a global healthcare long-short equity fund. He was previously a Director at Brookside Capital Partners, the hedge fund group affiliated with Bain Capital, where he participated in overseeing the portfolio's healthcare investments and was involved in evaluating public and private investments in all healthcare subsectors. Dr. Venkatesan founded and served as CEO of Varro Technologies, a knowledge management software company focused on the life sciences and was involved in healthcare venture investing at Patricof & Co. Ventures and consulting at McKinsey & Company. He received his M.D. from the University of Pennsylvania, School of Medicine, his MBA from the Wharton School of the University of Pennsylvania and his B.A., magna cum laude, from Williams College where he was also elected to Phi Beta Kappa
FTM:
I was suggesting an IST, I certainly do not want PPHM to burn valueable $$$ on that kind of risky study. I was suggesting an IST with another PB with deep pockets.
Rolodog
I was wondering if Bavi would be effective for a cure for Alzheimers
If Bavi acts to dissolve/flip the cancer cells would it not work on the brain plaque that Elan and others claim to be the biggest obstacle. Perhaps Phiser or others may commence an IST...
Per Wikipedia:
The cause and progression of Alzheimer's disease are not well understood. Research indicates that the disease is associated with plaques and tangles in the brain.[11] Current treatments only help with the symptoms of the disease. There are no available treatments that stop or reverse the progression of the disease. As of 2012, more than 1000 clinical trials have been or are being conducted to find ways to treat the disease, but it is unknown if any of the tested treatments will work.[12] Mental stimulation, exercise, and a balanced diet have been suggested as ways to delay symptoms in healthy older individuals, but there is no conclusive evidence supporting an effect.[13]
Rolodog..
We all talk about partnership of Bavi for certain applications and we discuss buyouts...when do we discuss a merger? Certainly a BP-chemo Doxi or Paxci would have an interest in cornering a segment of a world market..obviously on the surface is would not be a merger of equal market caps.. but certainly an option.
Rolodog
MLV $4.50 price target ?
Got a call from a friend that stated that MLV had a price target of $4.50. Can anyone verify that?
Thanks
Rolodog
On yahoo this morning, earnings next Monday...I like Monday earnings NOT Friday.....
Peregrine Pharmaceuticals Inc. (PPHM) -NasdaqCM
0.68 Jul 6, 4:00PM EDT
Add to Portfolio
Prev Close: 0.68
Open: N/A
Bid: 0.65 x 7700
Ask: 0.78 x 1000
1y Target Est: 3.63
Beta: 1.08
Next Earnings Date: 16-Jul-12
How to build a drug sales team..
A partnership with a proven sales team is preferred, but...If PPHM decides to go it alone on Cotara till a partnership is forged, perhaps PPHM should build a sales team..what is involved:
1) Office space (2000sq/ft ?
2) sales manager ($85,000 +)
3) 6-10 sales reps ($60,000 base/each +)
4) product brochures, literature
5) Travel expenses ($150,000)
6) Video conferencing for live procedures
7) Brain surgeon on staff.. ($300,000)
8) Book keeping/accounting...(0) we already have it, office staff.
9) Legal (0) we already have it
So, lets say for $2mm we can have a 1st class sales team on board once the FDA gives their blessings..we can open a sales force soup to nuts for lets say $2mm or 4mm shares..
The number I do not know is how much to charge for Cotara...lets say it is $25,000/client...can PPHM sell 80 GBM doses/year or 8/month?
Avid makes our product, if we can sell 4000 doses/year=$100,000.00
According to CBTRUS, the incidence of oligodendrogliomas, including anaplastic oligodendrogliomas, is approximately 0.3 per 100,000 persons. Depending on the study, these tumors account for 4% to 15% of intracranial gliomas.
The most commonly diagnosed primary brain tumor of adults is glioblastoma multiforme (grade IV). The incidence is two to three cases per 100,000 population per year. An estimated 13,000 deaths in 2000 were attributed to primary malignant brain tumors (PMBTs). Approximately 19,500 cases were expected to be diagnosed in 2000. Diffuse astrocytomas (WHO II) represent 10% to 15% of astrocytic brain tumors and have an incidence of 1.4 cases per 1 million population per year.
So really, how long would it take to build a sales team ? Not so sure I want to partner and give away 50-60% if the cost is only 4mm shares..and the up front $$$ are too low..
Worldwide this could be a $500-$800mm/year drug..
Rolodog
I do not recall if their calander year starts on 1/1/12..I could be mistaken as to what month their Q2 and Q3 end.
Rolodog..
PPHM hires a Merger and Acquisition Attorney..
I guess it is time to monitize Cotara
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 20, 2012
PEREGRINE PHARMACEUTICALS, INC.
(Exact name of registrant as specified in its charter)
Delaware
0-17085
95-3698422
(State of other jurisdiction of incorporation)
(Commission File Number)
(IRS Company Identification No.)
14282 Franklin Avenue, Tustin, California 92780
(Address of Principal Executive Offices)
Registrant’s telephone number, including area code: (714) 508-6000
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).
o Soliciting material pursuant to Rule 14A-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02
Departure Of Directors Or Certain Officers; Election Of Directors; Appointment Of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 20, 2012, Peregrine Pharmaceuticals, Inc. (the “Companyâ€) named Mark R. Ziebell, age 48, the Company’s Vice President and General Counsel. For the past seventeen years, Mr. Ziebell has practiced law with an emphasis in securities, mergers and acquisitions and general corporate law, representing companies in a broad range of industries including the biopharmaceutical and technology sectors. Prior to joining the Company, from March 2004 to June 2012, Mr. Ziebell practiced law in the Costa Mesa, California office of Snell & Wilmer L.L.P., where he was a partner during the past five years. Founded in 1938, Snell & Wilmer is a full-service business law firm with more than 400 attorneys practicing in nine locations throughout the western United States and in Mexico. Prior to March 2004, Mr. Ziebell practiced law at the firm of Falk, Shaff & Ziebell, LLP, in Irvine, California, Graham & James, LLP, in Los Angeles, California and Berliner Cohen, in San Jose, California. Mr. Ziebell earned his Juris Doctorate from the University of San Francisco, School of Law in 1994 and his BA in Accounting from the University of San Francisco in 1985.
On June 20, 2012, the Company and Mr. Ziebell entered into an employment agreement. Mr. Ziebell’s employment agreement is for a term of two years (the “Initial Termâ€), and automatically renews for successive one-year periods thereafter unless either party gives the other party notice of its intent not to renew at least ninety days prior to the expiration of the current term. Pursuant to the employment agreement, Mr. Ziebell’s initial base salary is $315,000. Mr. Ziebell is also eligible to participate in the annual bonus plan for executive officers, adopted by the Compensation Committee of the Board of Directors in July 2011, with a target bonus percentage of up to thirty-five percent of his base salary. In addition, effective June 20, 2012, Mr. Ziebell was granted a stock option to purchase up to 225,000 shares of the Company’s common stock at an exercise price equal to the closing price of the Company’s common stock on June 20, 2012. The stock option will vest quarterly in equal installments over a three (3) year period.
Mr. Ziebell is eligible to participate in all benefits plans or arrangements which may be offered by the Company from time to time to its executive management employees, including accrued paid-time-off (“PTOâ€) covering vacation and sick time benefits.
The Company has the right, under the employment agreement, to terminate Mr. Ziebell’s employment for “cause†if Mr. Ziebell (a) breaches in any material respect or fails to fulfill in any material respect fiduciary duty owed to Company; (b) breaches in any material respect his employment agreement or any other confidentiality or non-solicitation, non-competition agreement between Company and him; (c) pleads guilty to or is convicted of a felony; (d) is found to have engaged in any reckless, fraudulent, dishonest or grossly negligent misconduct, (e) fails to perform his duties to the Company, provided that he fails to cure any such failure within thirty (30) days after written notice from Company of such failure, provided further, however, that such right to cure shall not apply to any repetition of the same failure previously cured hereunder; or (f) violates any material rule, regulation or policy of the Company that may be established and made known to Company's employees from time to time, including without limitation, the Company Employee Handbook. If terminated for “causeâ€, Mr. Ziebell shall have no right to receive any compensation or benefit hereunder after such termination other than base salary and PTO earned or accrued but unpaid as of the date of termination (“Standard Entitlementsâ€).
2
In the event of termination of Mr. Ziebell’s employment without cause, the Company shall continue to pay his base salary then in effect as of the date of such termination for a period of twelve months or the remainder of the Initial Term (if terminated during the Initial Term), whichever time period is greater (“Severanceâ€), provided only if Mr. Ziebell signs a general release. Such Severance shall include the continuation of group insurance benefits, including health and dental insurance during the severance period and the payment of the proration of any target bonus established by the Compensation Committee of the Board of Directors. In addition, Mr. Ziebell shall have up to two years from the date of termination to exercise any vested and outstanding stock options. In the event that Mr. Ziebell’s employment is terminated by reason of death or total disability, he generally will receive all amounts accrued but unpaid at the date of termination and, in the case of total disability, continued group insurance benefits for a period of twelve months following the date of termination.
In the event Mr. Ziebell’s employment is terminated within three months prior or twelve months following a “change-of-control†(as defined below), or if Mr. Ziebell’s new position is not substantially similar to his current position or such new position is not satisfactory to Mr. Ziebell or if his then current annual base salary and related benefits are reduced or negatively impacted in any material respect, or if Company relocates his principal place of work to a location more than fifty (50) miles from the original location, without his prior written approval, then, if Mr. Ziebell elects to resign within twelve months following such change-in-control, he shall be paid a lump sum amount equivalent to twenty-four months of his annual base salary then in effect plus 100% of his target bonus upon the execution of a general release and the continuation of group insurance benefits for twenty-four months. In addition, any and all of Mr. Ziebell’s unvested stock options shall become fully vested and exercisable and the exercise period shall be extended for two (2) additional years from the date of the change-of-control. A change-of-control shall mean any merger, acquisition or consolidation of the Company where the Company is not the surviving or resulting corporation, or transfer of all or substantially all of the assets of the Company.
In the event that Mr. Ziebell voluntarily resigns, and in connection therewith he provides ninety (90) days advance written notice (the “Extended Notice Periodâ€) to Company, Company shall pay Mr. Ziebell his base salary then in effect and shall continue to provide other contractual benefits including group insurance benefits during the Extended Notice Period and for a period of six (6) months after the Extended Notice Period provided Mr. Ziebell makes himself telephonically available to the Board of Directors and the executive team for up to 2 hours per week. In the event of Mr. Ziebell’s resignation with Good Reason (as defined below), Mr. Ziebell will be entitled to receive the Standard Entitlements to the date of resignation plus the Company shall continue to pay Mr. Ziebell’s base salary then in effect for a period of twelve months or the remainder of the Initial Term, whichever time period is greater, provided only if Mr. Ziebell signs a general release. Such Severance shall include the continuation of group insurance benefits, including health and dental insurance during the severance period and the payment of the proration of any target bonus. In addition, Mr. Ziebell shall have up to two years from the date of termination to exercise any vested and outstanding stock options. Mr. Ziebell will be deemed to have resigned with “Good Reason†in the following circumstances: (a) Company relocates his principal place of work to a location more than fifty (50) miles from the original location, without Mr. Ziebell’s prior written approval; (b) Mr. Ziebell’s position and/or duties are modified so that his duties are no longer consistent with the position of General Counsel; (c) Mr. Ziebell’s annual base salary and related benefits, as adjusted from time to time, are reduced without Mr. Ziebell’s written authorization.
The employment agreement also contains certain restrictive covenants, including a covenant not to compete with the Company during employment and covenants not to solicit employees or customers for a period of one year following termination of employment.
3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
PEREGRINE PHARMACEUTICALS, INC.
Date: June 21, 2012
By:/s/ Paul J. Lytle
Paul J. Lytle
Chief Financial Officer and
Corporate Secretary
4
File Name
Filing Type
Form Type
Sequence
12920154.htm
FORM 8-K
8-K
1
Hello all Longs..I was doing some mindless reading and read on the Roswell Capital Partners Bio page this afternoon and saw our friend from PPHM (ES and CJ)
http://www.roswellcapitalpartners.com/rcpbios.html
http://www.roswellcapitalpartners.com/transactions.html
Thought I should share...Make one wonder who he really represents...
Rolodog
We have achieved a remarkable goal. The data is impressive, a good manager has already thought out their options.
1) Go it alone till an offer is accepted.
2) Continue the 11B data as it appears to still be maturing, each month could be representing billions more is a partnership
3) Plan phase 111 with the FDA
4) They have already ramped up personal at AVID in expectation of this excellent data.
5) This is when a strong board would be ideal, knowledge in negotiating billion dollar deals.
6) Distribution plan, if Bavi is approved for NSCLC in 2014, it will take 6-8 months to build a sales and distribution team. Be prepared to go it alone or appear you are planning to till the $$$ are right.
7) Once Cotara is approved (June), the above model can be implemented till a partnership is signed, the upfront $$$ can fund (6) see above...
8) Get a conference hall at ASCO and present to all, deep pocket are there (Roche) and I'm sure talks are underway..
Rolodog
Cheynew:
Not sure, I suspect they have a plan as to when to release the data. I suspect the data was not ready for a PR by the ASCO submission deadline. I wish I knew..I believe they will request an extension from Nasdaq knowing they have the data to release.
They might surprise me and have posters for the meeting, I just suspect they will have a booth only and want to make a splash at or before ASCO without the ASCO PR restrictions.
Rolodog
I do not believe that PPHM will have a poster presentation, just a booth. They probably will reserve a conference room in the event of a press release.Hopefully NSCLC and/or Cotara.
Rolodog
I do NOT believe PPHM will have poster presentations at ASCO and suspect for good reason..
1) Would have had to submit abstracts months before for review (the NSCLC was not mature a few months ago).
2) By not having a poster session they are allowed to have breaking news (NSCLC ?) without showing up or breaking ASCO protocol.
3) If there is an important PR they can rent a hall and present
4) I believe PPHM will have a booth only with a hall reserved for a PR and a presentation..
Just my thoughts...
Rolodog
(Go Celtics !!! Red Sox ???)
thought this article may apply to our PPHM
http://www.bloomberg.com/news/2012-02-02/drugmakers-upset-approval-system-plan-biotechs-sought-correct-.html?cmpid=yhoo
Rolodog
I got a call from a fellow PPHM investor that said there was an article in todays WSJ on page A3 that he thought described Bavi...
If any longs are WSJ subscribers please advise if there is any article of interest.
Thank you
Rolodog
I suspect they already have a partner and are working out the details or negotiating better terms. Could be multiple partners for different applications.
Rolodog
The question I have for Dew and other shorts is:
If you were diagnosed with NSCLC and have failed other SOC, would you take Bavi ???
Rolodog
It appears Dios is BK...
http://www.evaluatepharma.com/Universal/View.aspx?type=Entity&entityType=Company&lType=coInfo&componentID=co&id=4675
http://businessprofiles.com/details/DIOS_THERAPEUTICS_INC/CA-C2934307
I guess we can end the speculation and put this to rest..
Rolodog
Roth Capital Partners still at $10 for our PPHM. Today's recommendation.
http://www.alphatrade.com/news/stories/AM/2011-11-23/FLYWALL/201111230900FLYWALL_USEQUITY_281.html
Rolodog
As we bounce along looking for data and a partner we must remember the real value for PPHM is in its patents. Watch what has happened to Motorola. The bidding war for IDCC starting tomorrow. IDCC has patents from Nortel that makes the value of IDCC between $5-12B. IDCC is in play GOOG and AAPL and Samsung are potential buyes. The stock price has increased and the bidding is about to begin. I mention this because we talk poorly of PPHM's BOD, please understand one of their responsibilities is to protect their IP and patents. It appears that have done a competent job.
The science takes a long time to generate results, I'm waiting because I believe in the science but more importantly I like the fact that they have the IP and patents to support their research and increase their pipelines and IP.
Rolodog
Should be a fun week watching IDCC..
Just thought I would provide a link..nothing on CVS or Walgreens website as of today.
http://www.israelexporter.com/identa
Rolodog
Breast cancer research involving Thorpe. Not sure if this has been posted previously.
http://www.sciencedirect.com/science/article/pii/S0264410X11006372
Rolodog
Sunstar:
How much more testing would need to happen before Bavi could replace Interferon?
Trials
Patients
co/testing?
Thanks in advance
Rolodog
The Barcelona conference is Thursday, if Spain is about 6 hours ahead of the east coast, it is reasonable to expect a PR today rather than tomorrow if Thorpe and PPHM are going to release a statement..
Rolodog
Perhaps the Carter diagnosis at Duke Medical Center if it is GBM, will be an opportunity for Cotara to get some PR. I hope nothing but the best for Gary Carter, HOF catcher.
http://sports.yahoo.com/mlb/news;_ylt=AoRTRFqMD3qhoec2QIiYCAs5nYcB?slug=ap-garycarter-braintumors
13 days and waiting.
Rolodog
My question is 4th quarter based on the calander year or are they refering to the fiscal year? Not sure when their fiscal year starts and ends.
Rolodog
CJ:
I would assume that if Affitech defaults on the contract to PPHM for any number of reasons, would PPHM gain access to all the trials and updated results? If so..how could PPHM monitize that advanced technology and would that technology be accepted by the FDA and scientific community since it was not a collaboration rather a deed-in-lieu type of acquisition??
I would then offer the following questions:
1) Could PPHM sell that technology to another pharma?
2) Why sell if it is close to the finish line ?
3) Would PPHM finish the research abroad and get a local
partner to follow thru to approval? Less barriers to approval
if a local Pharma is on record as a partner
4) How would that meld with their current pipeline and
budget (ATM ?)
5) Perhaps if Affitech were to default it could be viewed as a
golden opportunity depending on the results and the quality
of the work.
ROLODOG
Could ASCO be the second quarter of this year for disclosing data?
"Completion of enrollment in our third Phase I HCV trial is an important milestone for our bavituximab antiviral program, and sets the stage for reporting clinical data at a medical conference in the second quarter of this year while we begin to evaluate combination treatment with the antiviral agent ribavirin in a recently initiated study," said Steven W. King, president and chief executive officer of Peregrine. "Though standard treatment for chronic HCV may soon evolve with the introduction of new targeted antiviral drug candidates, immune stimulation with interferon remains a critical component of therapy. Preclinical data support the potential combination of bavituximab and ribavirin and we look forward to seeing how this combination initially compares to standard interferon and ribavirin treatment for 12 weeks in our Phase II study for patients infected with HCV."
Rolodog
I believe the HEP C is a 12-week treatment. Please see the attached link. I think today is the end of 12-weeks. Perhaps we can get info at or before ASCO.
Rolodog
http://finance.yahoo.com/news/Peregrine-Completes-Patient-iw-1234394311.html?x=0&.v=1
I believe PPHM is up because of the VRTX HEP C approval. As we all know, BAVI is completing HEP C testing shortly. I believe that VRTX has about 204,000,000 shares outstanding and is now up 5.55, that folks is over $1B in appreciation today. Now if PPHM has 68,000,000 outstanding and were to go up by $1B that would + $15+/share..
Just some random thoughts.
Rolodog.
Hello all:
Just wanted to report that I was at Starbucks this morning at 9am. No sign of UMASS or his 4 interns. I did meet EagleRay (Thanks for the tea) and had a delightful chat about Cotara and Bavi. EagleRay told me that he too has many friends that are holders of PPHM like myself. We are both excited about the next 12 months.
My chat with EagleRay ran long and missed my chance for lunch at Leo's Place. This Starbucks is in the rear of an old converted parking garage.
UMASS: Sorry EagleRay and I missed the opportunity to listen and learn. Next time you need to cancel just post, we will understand.
Could this have been an April Fools joke? Today is April 2nd.
Rolodog