i don't think ronin could state it any clearer... monetize the IP... by professionals that are not biased by a front row seat on the gravy train...

fine line between success and failure and it depends upon the luck of patient populations as much as the drug, particularly with end of life situations. put 5 "fighters", folks that change their diet or quit smoking and start exercising into a control group and put 5 "quitters" into the treatment arm and the results can swing towards the "control"... i would argue the screening of fighters vs quitters is just as important as all the other screening factors.

and nothing wrong about "quitters"... one can reach a point where staying alive benefits the doctors and med field more than the patient...sometimes the other side looks better...

Looks like Keytruda was close to "success" with HR of 0.82. The drug may need just a little bit of help getting over the goal line. And in general, from here on out the goal posts are going to be changing much faster than before and the window of "success" culd be short lived. And having the pony in many races with professional trainers and jockeys is preferable than having the pony in one race with shady trainers and a 450 lb jockey.

prediction... the sp will have a positive correlation to the probability the bums are leaving the scene, whether by choice or outside stimuli.

pls ask Will Fields...

lots of problems getting docs to shareholders

wfields@zlk.com

Also don't know status of hearing... tied up today w/ family in town

the technology is as ripe as it is going to be for the next phase... pphm has no biz running trials and anything associated with the company has the stench of the BOD that hurts the company...

so the ip needs to be placed in better hands for the best value for shareholders... if sk is an asset to the IP, he will find a home... as a CEO... he is way over his head...

the marketplace will determine the value of the IP in a competitive situation... without the baggage... if the players that actually write the check to pay for the IP are as excited as message board posters, we will see the value... greed is still alive and well....

the lack of progress to date has been driven by unchecked greed... that will no longer be the case.

all three need to go... ES is a cancer on the company .... surgery is required.. all imo

Can we get an "Amen"... and "Ronin's hostile actions"... the current mgmt team raping and pillaging the company along with their attitude towards shareholders has been hostile.... an inside job or domestic economic violence ...

i used the term in·ces·tu·ous some time ago to describe the BOD...

(of human relations generally) excessively close and resistant to outside influence.

and i apologize because i underestimated how bad the BOD is imo..

yes... that is what i am talking about... the 120 days... if mgmt tries to block nominees because of the 120 day BS... I think pphm would have blocked them right now saying "too late" ... i think the games are over with mgmt blocking shareholders... and that is under the assumption ronin did not file in time... if mgmt blocks ronin, the ASM should be pretty interesting...

i think at the end of the day everyone will want to max value... as soon as the current bod realizes the best option is to work with them... unless SK has a BP deal.... which I doubt it's ready to go and would be surprised... and any BP has to know the players on the playing field so whatever aces SK thought he was holding just evaporated.... if SK has a deal in the back pocket.... ronin will need to bless it or a battle continues... and BP probably likes ronin's position in that the SK baggage demand just went away..... the question will be whether someone wants Avid as badly as ronin wants it.... anyway this shakes out, we will benefit at the end of the day but there will be lots of games to play to get shares...

david pohl, the nominating committee chair who owns 286 shares and has no biotech experience could feel like a giant cockroach in the middle of the floor in a pitch black room and a floodlight switch is turned on... and a folded up yesterday's evening edition is on the back swing motion...

SK can show ronin how to get max value thru MSK... so SK has value unless ronin has channel to MSK direct.... and my guess is most institutions don't want the pphm stench/sleaze factor with the bod...

if the ip has value, ronin will get it... at the risk adjusted level of pphm not putting any more dollars towards it.... and the more he gets upfront, the more it helps his plans for avid... there has been no deal because sk and crew don't know how to make one (which means giving up demands) imo.. one thought is that sk was planning another hail mary trial at shareholder expense and ronin is nipping it in the bud before any contracts are signed...

tappan is w/ ronin.. same with other instit money.. if dart is behind mgmt, something is wrong there imo...

and we will be talking about shareholders as of a certain date.. that will change to ronin's advantage imo...

Does anyone think PPHM tries a procedural move ie timing issue to try to reject proxy? I don't think so. I expect a transition work plan soon and the ES crew has to know the gig is over. Best to surrender and keep your horse if the new warlords permit. The best way to improve value is getting the game plan together to monetize the IP. Why wait 3 months? Is this possible?

The MSK intro and meeting is prob the most important. Is there a pony in there?

good ... steve can provide tremendous value to the company in the IP transfer phase... and find a new home in the process... note to steve... the kingdom is over.... they will not make you top dog at a BP...

but he has to prove his value to his new bosses...

SK will not be running the show... his best option right now would be showing ronin how he can help to get the most from the IP and make himself an asset to the IP acquirer. he wins, ronin wins and we win...by some kneepads stevo...

if he pulls the a-hole card out, he screws himself... and he needs to use the patty hearst defense and he was a brainwashed victim of the BOD.. he needs to turn on the BOD as well...

my prediction is DP retires before his name is front page and center of the BOD fight... if he stays and fights he will look like a complete idiot... a man with 286 shares and zero biotech experience judges the competence of the proposed BOD...

fun times ahead and expect share price swings, the professionals are trading and orders need to be filed and the float is one seventh it used to be. and ronin runs a very large prop trading firm... these guys are pros..

and why would ronin want a higher value right now? wait until his peeps are in charge and let them benefit from share price gains... finally the mgmt team gets the shaft in the interim (as well as shareholders) ...any higher sp helps mgmt right now and expect the price to drop any time SK opens his mouth against the upcoming change... on second thought, expect the price to drop any time he opens his mouth..

awesome... so 8 months down the road after the bums are thrown out, the value is recognized for the benefit of the shareholders....

charlie brown's revenge...

also after talking to a hedge fund w/ a position... the exosome is a stocking stuffer ... they didn't see it as moving the needle much at this time... and they did their homework on avid and bavi... they see tangible value in avid and bavi is still a question mark... from several sources... large clumsy molecule... and they all want to be proven wrong because it is gravy...

no... i think some institutional type money sees brighter days ahead with the likelihood of the current BOD and mgmt team removed. And the only way the current team stays is if they increase sp substantially over the near term.

and CP asks how can ronin get on the proxy? we shall soon find out. if mgmt attempts to block them, i think they will lose. DP w/ 286 shares vs Ronin... my guess is DP would prefer to ride off into the sunset...

and i can see another shareholder suit if mgmt tries to block them...

btw... confirmed problems getting DS docs to shareholders... responsible party in getting them out ... PPHM...

Unless SK and BOD can pull a rabbit out of their hat they are probably out. I am sure they can pull together an investment group to compete for the IP along with BP. If no BP shows up then we were fed a line of BS. That way they can put their money where their mouth is versus taking money from shareholders and betting the farm with shareholder money while at the same time putting shareholder money in their pockets.

For me Ronin is by far the best alternative and they have skin in the game.

For years I have been screaming at mgmt to improve the BOD so as to improve institutional ownership which would help in the capital raise area. I was advocating to Dr. Thorpe to put pressure on mgmt to improve the BOD because it was slow play with the IP years before his passing. His last email response was thank you and he would consider my suggestion of getting the UT Business School (UTSW is part of the UT system) involved with a review of the BOD.

In the meantime mgmt has treated shareholders like absolute crap with a "you can't touch me" attitude. And IMO they have gone the extra mile to make the company institutionally unfriendly. Why? Because they did not want any oversight which would have upset their pillaging of the company. PL imo deliberately missed key Russell dates on two occasions (one by selling shares on important russell date). And the SHORTS always had the play book. ALWAYS.. Looking back and reading Ronin's letter I wonder to this day whether Roswell was placing side bets.

I have believed in PS targeting and I still do. But the window is closing and any chance to redeem the value has a better chance in more capable hands. And I have zero trust in mgmt. Sorry but I think we have some "bad actors" as one of the DS attorneys described the situation. I disagree with that because we have good actors. The mgmt team has been acting like they have the shareholder interests (the ones that actually own the company) at the forefront. Even the DS settlement is a bag of empty promises. The provision to add another member after bavi approval when they are not even close is another slap in the face to shareholders.

Ronin's motivations are quite clear. Right the ship and put good people in place and put the rewards where they belong. And that is not in the current BOD's pocket. So many have you have attended ASM and have been enamored by the excellent eye contact the management team provides (the "Gaze"). Fortunately I have not been put under that spell.

If SK and crew finally deliver with BP, that will be great. But they need to sell because their time at the helm is over. If they end up out on the street with nothing, I will not feel sorry for them because their own greed will have done them in. So lets see if years and years of "Talks" amount to anything.

All IMO

exactly... and current mgmt team has the short stack and no more chips for the next hand ... they are "all in" ... waiting on the river card... or an exit from the table...

fun times ahead...

on a side note, if you are BP what is your rush? any favors for SK and crew? doubt that.... would you rather deal with deal makers or talkers? all imo

and if a deal suddenly appears, we have been had and we will know the reason for the massive dilution and deliberate tubing of the share price since feb 2016 imo...

getting booted from the russell and staying off the russell are big clues..

If bavi is the holy grail, or only one tenth of the holy grail, the market will pay the value in a competitive bidding environment. I have pondered that question myself and after talking with an individual in the trenches I think there is value but maybe not the value we have been led to believe. And the Ronin and Tappan folks would love to see value from the IP. They like to make money.

And the feedback I got is that if there was so much value, why has mgmt taken so much comp in cash vs loading up on options... hard to argue...

And given all the BS we have been fed over the years I don't know what to believe. Read the transcripts from the CC: "as resources permit... sorta move the ball forward (is that code word for IST)... we're excited ... woo hoo... what ever value there might be, it will not be realized with the half ass approach to develop it. And even if they struck gold, would anyone have confidence when it's coming from a penny stock bod with a terrible history? Don't think so.... SK has no business running a company... he came from the lab and was put in by ES and his crew... and he has been a willing participant in the shareholder carnage...

I think/hope PS targeting could have a seat at the I-O table. Too bad the Tustin boys are getting the seat pulled out from them. If it was astronomical, why weren't they loading up the truck? 286 shares?

The good news is we will see SK and crew make a last ditch effort to validate value as their parting gift to shareholders...

And my guess is BP is waiting in the wings for them to leave. Wouldn't you? Pole position? More like assume the position.

My guess is SK will be given his walking papers. I am sure he is welcome to compete in the methodical process of monetizing bavi and the IP. He can team up with his BOD and raise the capital. I am sure they have a lot of backers given their stellar track record of creating value.

Win Win... Bye Bye

and the old saying... Pigs get fat, hogs get slaughtered..

Fat..

a reasonable deal with one of the dozens of collaborators... a parachute and nice pay day

Slaughtered..

no deal...walking papers, no parachute and possible clawbacks...

how's that for pole position...

and the baggage (or garbage) that was probably tied to any deal (ie sk and crew remain involved) may actually facilitate a deal and result in more value..

they called a special meeting at the paper shredder....

will the ghost of roswell appear... funny how the shorts seem to be in the loop... all imo and enjoying every minute..

i hope they are running scared and i hope they keep running... out of town..

question... if you are a BP do you do a deal with the current group ASAP (knowing any deal will come under scrutiny of the potential incoming BOD) or wait for a qualified mgmt team? i would wait...

and remember the current mgmt was kinda going to advance the ball as resources permit but they were deeply committed to moving bavi forward...

can another dios save the day?

the current bod's only chance of staying in power is to double up on the shrimp at the ASM... premium crackers? real cheese instead of velveta? and they are in full rehearsal of the "Gaze"...

as i said earlier they will be methodical in getting the best value for the ip... and that means putting the ip in capable hands..

also keep in mind that whomever takes on the ip will be committing resources towards it... that is part of the equation...

and the nol's have value to a bp ..

you mean the continuing pattern of lies and deceit imo? maybe the failure to get ds docs to shareholders will attract Laster's attention.

so hopefully the boys get the boot, the golden parachute strings cut and a breach of fiduciary duty lawsuit to add to their resumes...

this is good...

also regarding DS hearing...

confirmed that problem getting the DS docs out. It was defendants responsibility to get them out...

stay tuned...

"The CA of 27th July only requests an extra BoD member when Bavituximab gets approved."

another worthless promise from mgmt

from IR mid june responding to questions

"Peregrine’s Phase III Sunrise trial was discontinued. We have no data package to submit to the FDA. In order to file an NDA with the FDA we’d have to conduct multiple successful trials."

Stephanie


The questions:

Here are some questions regarding the Stipulation order (from page 8):


(i) Increase of the Board size. Contingent upon, and within three (3) months of, the Food and Drug Administration’s approval of Company’s product “bavituximab” for marketing in the United States, the Board shall increase the number of the Board members from four to five, and appoint an appropriate and suitable independent candidate to serve as that fifth member.

What is the estimated timeline for FDA approval?

Has PPHM submitted an application?

Will a new clinical trial be required before any approval?

If so, has the trial started and what is the estimated timeline?

the spoils of war...

a new bod would not trigger a change of control from what i can gather but my guess there would be some down sizing... and that would cost some folks some money

the fight for the parachute...

my guess is there is prob incentive to do even a crappy deal to protect the parachute..

would love to see charlie brown finally get the best of lucy... karma

http://ir.peregrineinc.com/secfiling.cfm?filingID=1019687-16-7374&CIK=704562

Payments Upon a Termination in Connection with a Change-in-Control

In the event of a change-in-control of Peregrine, if a Named Executive Officer’s (i) employment is terminated other than for cause within three (3) months prior or thirty-six (36) months following a change-in-control (in the case of Mr. King) or twenty-four (24) months following a change-in-control (in the case of the other Named Executive Officers), or (ii) such executive terminates his employment for “good reason” within twelve (12) months following a change-in-control, the executive shall be paid a lump sum amount equal to (a) thirty-six (36) months’, in the case of Mr. King, and twenty-four (24) months’, in the case of the other Named Executive Officers, base salary then in effect, (b) one hundred percent (100%) of such executive’s target bonus, and (c) payment of group insurance benefits for thirty-six (36) months, in the case of Mr. King, and twenty-four (24) months, in the case of the other Named Executive Officers. In addition, each of the Named Executive Officers’ outstanding unvested stock options immediately shall become fully vested and each shall have a period of time equal to the lesser of two years following the date of such termination or until the original expiration date of the applicable option agreement to exercise any vested and outstanding stock options as of the date of such termination. An executive’s receipt of the foregoing severance benefits shall be conditioned upon such executive’s execution of a general release of known and unknown claims in favor of the Company and its affiliates.

add two deliberate russell screw ups to the list eom

are you justifying Pohl taking in $500 k a year, owning 286 shares, having zero biotech experience? i am sure he is a very nice man... probably has a great gaze... did he sell you a sound system? or some shares in his latest penny stock venture?

and one wonders why the company has zero credibility... again unreal

http://maxd.audio/

http://maxd.audio/blog/how-to-invest-online-like-a-champ

http://maxd.audio/blog/what-are-penny-stocks-the-good-the-bad-and-the-sexy

But some are quite happy to gaze into the nominating committee chair's eyes at the ASM who happens to own 286 shares and has taken over $500k from the company over the last five years and has zero biotech experience. unreal

Will be interesting to see if PPHM fights Ronin on the proxy.

David Pohl, proud owner of 286 shares is nominating committee chair. No biotech experience.

http://ir.peregrineinc.com/committees.cfm

Per charter, must meet definition of "independent"..

The Committee will consist of not less than two directors, each of whom will satisfy the definition of "independent" under the listing standards of The Nasdaq Stock Market.

As discussed previously, the board must affirm "independence". How can a board with obvious conflicts approve independence.

I think the more po'd shareholders, the better his chances. Let PPHM mgmt do what they do best.

for the tenth time, folks are not giving up on the science. they are giving up on the current mgmt's ability to advance the ball with the science and create any value with the science. and current mgmt's ability to raise non dilutive capital to advance the science... ronin will get as much value for the science as a competitive market will bring... and that could include contingent rights..

better than.. kinda move forward... as resources permit (no resources) ...

Why the IP needs to be in big boy hands asap..

how deep are they committed with limited resources? intriguing? is that like the baby carrots? sort of forward? like profitably?

is anybody else getting the joke?

also, even if the BOD took a $1 in pay they still need to go... they are a major image drag on the company and offer nothing, absolutely nothing in value... and even if they were to run trials, nobody would believe them...

another thought on ronin as well... why would they play up the IP if there was value at this point? why not wait until their boys are in and they get rewarded for value? and when they are in, any value will be recognized by putting it into the right hands... the slow play game is eating up the patent time (even with extension) and the I-O space is moving at warp speed.

it would be such a sad, sad story if the football was fumbled at the 3 yard line... charlie brown's revenge...

snippets from the cc:

We believe bavituximab is active as some patients have been on treatment for as long as up to 2.5 years and has a good safety profile, making it a useful candidate for combining with other therapies, and we remain deeply committed to advancing the drug.

We are encouraged by the positive response received from investigators and thought leaders regarding this sub-group analysis and exploring ways to advance the program, as resources permit.

In the meantime, as we focus the biomarker analyses on this subgroup of patients, we are seeing some intriguing results and plan to present of our findings at key conferences later in the year.

But our goal is to find a strategic alternative that will allow us to move the R&D, sort of forward, independently of the Avid business.

got it... i'm in cheap seats... send me email address in PM and i can provide more color w/ ds..

for those who did not get DS docs or got them late (the response deadline was July 12) contact Mr. Will Fields per his email to me.



You can send them to me. I am working with the Company, who was responsible for sending the notices, to figure out what happened. The more people who contact me, the easier it will be for me to figure out what happened. It would also be helpful if they could tell me who their broker is.

Thank you,
Will

wfields@zlk.com