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Bro, didnt you read any of the press releases? There was nothing other than common equity offered.
GVHD disease etc etc., funding Berger's lifestyle, etc. etc., :( They were a product of the human genome class of companies. They went from genomics to concentrating on oncology small molecule drugs when the NASDAQ bubble imploded.
Ironically, AP1903 is being developed by Bellicum now. It has show some pretty damn (early) results in GVHD and prostate cancer. Ariad has a equity stake in the company.
I really think companies should develop their drugs in a way that would allow them to by-pass a lengthy Phase 3 trial, similar to what Ariad is doing with Ponatinib. Clearly Pona is a unique example. Problem is, a lot of development companies are borderline scams that are just ATM machines for Executives and Board Members so their Phase 1 trials are complete nonsense, instead of a true Phase 1/2.
I read a really good abstract not too long ago re: avoiding Phase 3 trials by designing better focused trials based on personaized medicine. ...which would hopefully speed up the nonsense of taking 15 years to get a drug from lab to marketing approval.
LOL, exactly. How many biotechs do you know that just start up, and, PRESTO, a few years later, have a successful drug from R&D into sales.
This is the regular, Standard FDA review and inline.
Options print
Someone SOLD 5,000 2May8.00 at .40
This is off-subject, but, when you hear of "losers" in your portfolio being subject to EOY tax loss selling (on long positions), is there also the inverse, which would occur on stocks with huge short positions e.g., where a stock has a large short-interest which will run UP EOY due to funds/investors covering their short position for loss purposes?
LOL. Yeah, It's the "MM's" trying to "bring it down" so they can "acquire shares at cheap levels" because they "know" this company is "a huge winner". Don't forget about how the "hedgies" "pay" people to "bash" stocks before there is a take-over.
So pathetic.
What can I say about your personal feelings and thoughts on Bryan
Get a new Board composition and this company becomes multiples stronger. Until then, weak growth (in the right direction), but nothing more, nothing less.
BTW, when was the last time the current CEO put his money where his mouth is? Hasn't bought stock in his own company in YEARS. Why?
All the new hires are great. It's the former, that are a joke and need to be replaced.
Bryan Martin - CEO (terrible CEO with little credibility on Wall Street - analysts do not like him)
Chris Mcniffe - former employee who was fired/let go
Don Wilson - 80 years old
Guy Hecker - 80 years old
A high tech company should not be a place for geriatrics to pretend they have a place in business anymore (just to say they are doing something in their Golden Years).
This company needs a new powerful, well-known Director who can bring in business and partnerships, and money.
We need to bring back regulations to prevent this stuff.
Yeah, a no brainer.. either that, or start selling to anyone else who wants shares institutional or retail. their block desk basically just got paid their bonus for the year.
I will be wowed when they hire a Director who has some real "wow " factor instead of geriatrics they have now.
Originally, he was opposed to using Ponatinib in front-line, even though he tends to follow Cortes' recommendations. He's had a bit of a change of mind recently
He made the initial deal with Merck and renegotiated the deal when it was prudent to do so.
The reason ONTY rose IMO was because it took a lot of risk off their balance sheet and enabled some of the most well known healthcare funds to get involved in the name. further.. they were added to Russell Index
let's all not forget the over-allotment ;)
I'm actually really surprised at the size of this.
BTW. Merrill took no part in this offering as neither a bookrunner or co manager
Nah..that stuff never happens.
BTW, the public offering amount just hit the tape.
21.5 mln at 10.42
They'll have well over 300 million in the bank after this.
ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA) today announced the pricing of an underwritten public offering of 21,500,000 shares of its common stock, at a price to the public of $10.42 per share. The offering is expected to close on or about December 20, 2011, subject to customary closing conditions. In addition, ARIAD has granted the underwriters a 30-day option to purchase up to 3,225,000 additional shares of common stock to cover over-allotments, if any.
You do understand that Pharmassett at $128 is valued at $9.6 billion, right?
BTW, what makes it worth $9.6 billion? I have no idea. But they only have 75 million or so shs outstanding.
BTW, do you think CTIC is "cheap" because it's a $1.00 stock?
I think 6 billion today is reasonable
I think this prices well, probably today or tomorrow, and they use the over-allotment. They probably raise somewhere along the lines of $125 million.
Isnt this company worth 6billion today
the company more valuable from a takeover perspective
If this offering were bad news, the stock would have been sold off substantially in A/H trading. I think this deal is already done, pricing is likely right at these levels. This whole deal IMO was worked out many many many days ago with Berger and JPM's clients. Simple as that. They just wanted ASH data to commit.
The FDA should not make Curis do Phase 3 for this indication. Its a really small pt population but this is such a similar disease to BCC it would be a shame to not give this drug to patients and make Roche do a Phase 3.
I understand the JPM conference is the first big event in healthcare for the New Year, but does anything truly relevant ever come out of this event other than the typical cookie-cutter boilerplate crap that was repeated throughout the last quarter of the prior year? Or would you classify this conference as when the CEOs of the presenting companies develop their boilerplate cookie-cutter statements they will repeat, verbatim, at every conference after the JPM show throughout the entire year.
sadly, Lol, exactly true. And, if ever he had to swear on a bible, thats the defense he undoubtably would use.
He did say something to the effect of ( in a recent conference) ..there will be no financing activities until after ASH.
Like I said, the optimists bought into his baloney and inuendos as a partnership was coming, When the reality is he had already been told by JPMs best clients (big healthcare funds), 'we want to invest in ariad, but we want to see the data first.'. The data was great, there was no buying afterwards.....why? Well, why buy 3 million shares etc in the open market when you can get an entire block at a fixed price on a given day. simple as that.
The SEC is busy harassing retail investors who dont get a good borrow on stock, and fining them. Doing an investigation into whether or not funds shorted this financing would take too much time about from them beating off at their desks to porn.
I tend to agree with this.
I think Ponatinib is a great drug but I don't think this guy has any real idea on how to transition to a revenue producing machine.....maybe I will be wrong. I just can see him really screwing things up ---- and issuing more stock to make up for it, due to his ego. I think he should keep Europe for Ponatinib, but If he's planning on squeezing out an extra $25 million from Japan by going it alone for a little longer hes an idiot (rather than taking what is being offered now....and i am sure there are offers out there).
If I knew i had a $500,000 salary, free options up the wazzoo, and a CEO who will keep issuing stock to keep the payroll going, I would stay at the company too. Gimme a freakin break about "keeping good employees"
I could almost guarantee you that this stock issuance has been in the works for months now. I am almost certain that some large healthcare funds told Berger they wanted to invest in the company but wanted to see the ASH data first. This deal probably closes tomorrow as they already have all the shares placed at this point. The shame of it is, I could almost guarantee you as well that some peripheral shitbag funds got wind of this and probably shorted into it (and will use their stock to cover their short position)(even though it is entirely illegal but the SEC does nothing about it so who cares).
The sad thing, and this is where Berger shows he is still a true, unbridled dirtball, is that, once again, he fooled most investors into thinking there was a big partnership lined up (which, clearly, there isn't). Berger has made a freakin career out of lying/misleading investors by saying "no financings" and the "business development" activities would fund the company, only to be exposed as a liar when he issues more stock.....but then, again, uses the line, "this financing will allow Ariad shareholders to retain all value in "x"...", to make it, 'OK'.
Just for future reference, and mark this post: when The Harv even mentions the words "business development" or "partnership"....... he's lying. No questions.
I agree. And it's the reason the stock was in the dumps for so long. People still hate the guy (because of sh*t like this). It's a good thing the science is there and ponatinib seems to be on cruise control
I'll take the over. And I'll say it prices tomorrow or Friday.
I'm just pointing out what was in the press release of the issuance.
Sounds to me like he has no intentions of giving up any of ponatinib.
IMO, I bet the offering brings in $125 million - $130 million.
This funding is expected to enable ARIAD to continue treatment and follow-up of patients in the pivotal PACE trial of its investigational pan BCR-ABL inhibitor, ponatinib, in patients with chronic myeloid leukemia (CML) or Philadelphia-positive acute lymphoblastic leukemia (Ph+ALL) and, subject to further patient follow-up and data analysis in this trial, to file for marketing approval of ponatinib in the United States and Europe in the middle of 2012. ARIAD anticipates that this funding will also enable it to continue preparations for commercial launch of ponatinib in the United States and Europe and, if approved, to sell, market and distribute ponatinib in these and other markets on its own, allowing ARIAD to retain the substantial potential commercial value of ponatinib. ARIAD also expects that this funding will allow it to conduct additional clinical trials of ponatinib, including a Phase 3 clinical trial in newly diagnosed CML patients and clinical trials of ponatinib in Japan, as well as to complete the Phase 1/2 trial of AP26113, its investigational dual inhibitor of anaplastic lymphoma kinase and epidermal growth factor receptor, and, depending on the results of this trial, conduct a pivotal trial of AP26113 in patients with non-small cell lung cancer and to fund additional trials in the United States, Europe and Asia.
It's an underwritten financing. not the same type of PIPE B.S. that we were used to getting down in the single-digits. no warrants. not a chance.