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Jackieboy,
Great, great, great comment !
Ballroom E between 11:00-12:00
The following is so important :
" Dr. Langer served as a member of the United States Food and Drug Administration’s Science Board, the FDA’s highest advisory board, from 1995 to 2002 and as its chairman from 1999 to 2002."
Spetty772002,
Thank you so much for the information. I've been up since 5:30 and I will be late going to the office because I've been reading about Beike Biotech and the different treatments offered in China. The medical unit at Qingdao-Chengyang People's Hospital is quite fascinating.
While I am here, I would like to ask for everybody's opinion pertaining to Rabin's performance, ACT's fundamentals and the outrageous distribution of free shares.
So I'm asking, does Rabin have the credentials to be the CEO of ACT or any company ?
farviewhill,
Thank you for the prompt response. I understand and if you find it, please post the information.
farviewhill,
Would you kindly direct me where you have read the following ?
" And lets not forget, there are a few folks walking around in europe and asia who, because of stem cells, have had their blindness reversed and see again. "
Dr. Lanza's writing :
" For now, it will have to suffice to say that we are
extremely pleased and believe that these trials will validate our earlier
preclinical findings."
WOW ! As with animals maybe ? That's extremely positive. How do you read it ?
Difference between ACT and Geron
Geron : Institutional ownership 35%
ACT : Institutional ownership .001%
Geron : CEO - Dr. John A. Scarlett
" Dr. Scarlett brings over 25 years of executive leadership experience in the pharmaceutical and biotechnology industry to Geron. Most recently, he served as President and Chief Executive Officer of Proteolix, a biotechnology company developing proteasome inhibitors for oncology and immunology applications. Proteolix was acquired by Onyx Pharmaceuticals in November 2009. Dr. Scarlett was also a founder and Chief Executive Officer at Tercica, a publicly traded biotechnology company, where he led the company through the acquisition, approval and commercialization of two novel endocrine products, key partnerships with Genentech and Ipsen S.A., and multiple financing rounds including its IPO in 2004 and subsequent follow-on equity offerings. Tercica was acquired by Ipsen in October 2008. Prior to Tercica, Dr. Scarlett Dfounded and served as Chief Executive Officer of Sensus Drug Development Corporation, which he led through the acquisition, development and approval of a novel endocrine product and the sale of the company to Pharmacia in 2001. He also co-founded Covance Biotechnology Services, Inc., a 450-person contract biologics manufacturing and process development business, which was sold to Akzo Nobel’s Diosynth Division in 2001. Earlier in his career, Dr. Scarlett served as Head of the North American Clinical Development Organization and Senior Vice President of Medical and Scientific Affairs at Novo Nordisk Pharmaceuticals, Inc. and held several positions, including Director of Medical Research and Services, at McNeil Pharmaceuticals, a wholly-owned subsidiary of Johnson & Johnson."
ACT : CEO - Gary Rabin
Hedge fund manager and Professional Poker Player
Now where will Institutional Investors, who are looking at FUNDAMENTALS and CREDIBILITY, invest ?
Rabin's response :
"We are working on putting out information about the patients and the results, but we obviously just cannot publish a bunch of data; it has to be disseminated in a format that people can understand."
What ? As the "self-selected" CEO of ACT, Gary, I ask you to please hire someone who can help you find better answers. Oh! I forgot... you only hire yourself for all the executive jobs !
fordwill1953,
Your post is the best I've read here and I hope it's not just because I agree with you 100%. Rabin has no credibility and I don't know him well enough to write about his integrity but he certainly found an easy way to take care of himself without any opposition. His self-centred behaviour is a total disgrace.
Actually, Trader-B, I was complimenting you in writing a wise observation. I do not or will not apologize for offending you as you misunderstood my answer to your post.
" All the great potential in the world does not guarantee a Company's success "
Right on the button. Potential is just potential. Wishful thinking does not guarantee success. Advanced Cell Technology will only gain in PPS if the results are positive, and only if the results are positive. So you will have to wait like all of us until news from the trials come out.
" What that tell you? "
It tells me that there are some 1.7 billion shares of which only a few millions are traded daily. Conclusion : the strong majority of shareholders are not interested in selling shares at this time. It also tells me that as long as there are small investors fighting for 1/10th of a cent to buy 5-10-15-20000 shares of ACT (ACTC symbol), the PPS is going nowhere unless it is proven that the science works, really works.
"We have not yet begun the stem cell trial at our site. Dr. Peter Francis unexpectedly had to go on leave in mid-June and we are not sure when he will be returning. We have contacted Advanced Cell Technology to find out how they want us to proceed with the trial, but unfortunately we have not heard a response from them. Until then, the trial is basically in a hiatus at our site. "
I have written the following before : ACT has great science but a poor management team. Not answering The Casey Eye Institute is extremely disturbing and totally unacceptable. There are are two possible scenarios : extreme negligence or negative news from the first trials . We have not heard from Rabin since he granted himself with a ridiculous amount of shares .
To Rocky and KeazysKeepers,
Very precise, accurate and helpful information. Thank you very much.
Your link shows that the plaintiff is Gary D Aronson and it is dated August 23 2011 .
Please correct me if I am wrong . In your post #22731 dated March 18 2010 @ 7:17:38 P.M. , it was confirmed that a case involving Gary D Aronson and ACT was " dismissed by Court without prejudice " . How different is this claim and is it justified ?
In your opinion, what could be the out of court settlement , if justified ?
Fern Wood ,
I appreciate your rationale . My problem is that I am from the very old school and my CEO models are extremely disciplined . I was involved in professional sports for a long time and the biggest problem athletes have is not women, drugs or alcohol, it's gambling. Gambling, confirmed by those who have the problem, is the most powerful and dangerous addiction. So I don't like a gambler in a CEO position nor do I like a gambler in a CFO position.
ACT has incredible potential and I would have prefered someone else in the CEO chair. EOM .
Dear Paulness,
This will be my last post pertaining to this matter .
I never suggested Dr. Lanza was leaving the company and you will never be able to prove your point . The fact that we (our group) understood " I'm not going there " never implied as you suggest that he " was not going to ACT " . That is pure ignorance .
My argument is that the CEO (Rabin) should have answered that question instead of throwing it on Dr. Lanza's lap . I'm still convinced Dr. Lanza said " I'm not going there " as he did not think he was the one who should have answered that question .
There is no crow to be eaten here , young one .
As for people who do not think a strong and credible CEO in Biotechnology is important when facing the EGOS at the FDA , I can write very humbly that you have not been investing in this specialty for a very long time .
I invested in ACT because I believed in the science and in Bill Caldwell . I dislike Rabin for his lack of maturity and I don't trust him .
Regardless of what is written, GLTA .
Dear Paulness,
You're probably too young to understand the meaning of " I'm not going there " in reference to a comment I made previously .
To a question pertaining to Dr. Lanza's contract, Rabin turned to Dr. Lanza for the answer. I am convinced he said " I'm not going there " as to clearly indicate IT WAS NOT TO HIM TO ANSWER THAT SPECIFIC QUESTION . Period . That was in a CC situation and Rabin conducted himself like a cocky high school president . As the CEO , he should have answered that question himself in a respectful way .
I like a serious CEO during a CC . Obviously , you should be smart enough to understand that I really don't like Rabin in the CEO position .
" When a good jockey is hired to ride a good horse in a promising race, if the horse doesn't win the jockey still gets paid. " .
The difference here is that the owner of that horse chooses his jockey . The shareholders of ACT did not get the opportunity to choose their own CEO .
I do not like Rabin nor do I trust him. He just completed what Bill Caldwell had started . Furthermore, his arrogant, aggressive and cocky attitude might be great in his poker games, but it will not prevail with the FDA .
I agree with you entirely. And I will offend this sectarian discussion group by adding that some investors are probably hesitant to invest in a company which is run by someone who has no credibility and who took advantage of a very sad situation to become CEO.
It is even more annoying to conclude that Rabin surely never interviewed serious candidates for the CEO position. There was absolutely no way he was going to give up the most important job he ever had. Rabin always had a very specific agenda.
Even though Dr. Lanza is part of ACT , the CEO's integrity and credibility are very important to serious investors. Can you now imagine what could happen if Rabin also keeps the CFO job? Scary !
We are now in the hands of a poker player.
We are truly amazed at what most of you ( Rumit, Interstate, CTY and Louisa ) have written regarding my answer to " Post 32570 " .
Under the topic " Administration " , it is written that Dr. Lanza said " I'm not going anywhere " . We ( the 10 people who listened to the conference in my office ) think he said JOKINGLY " I'm not going there " in response to a rookie CEO who turned to Dr. Lanza to get his reaction . " Period.
I never wrote anything which would suggest that Dr. Lanza would be leaving . " If what you heard were true this would be trading at zero! " is totally ridiculous .
Now read this very carefully. We are financial people and I apologize that I personally tried to trap you in the past with a post pertaining to stockholders but I am comfortable in writing that ACT must get serious about its staff. The video showing the employees is a disaster.
Good luck to all of you .
In all due respect, I believe Dr. Lanza said " I'm not going there " to Gary Rabin in response to the question pertaining to his possible contract with ACT . His response was followed by humorous booing. Please listen again.
I second that, 'bballerfanatic'
Rumit,
I thank you very, very much for the detailed explanation .
Would you kindly clarify, please ?
Correction, "labmate-inline.com" is wrong . It should have been written "labmate-online.com" . My apologies !
Yes indeed, Rumit, you're quite right. But for those who did'nt know, it was great news, would'nt you agree ? Always a pleasure to read you, mate .
That is very well written, Zoofire .
Dear Rumit,
What you have written is true but the exciting part was that the article also came from labmate-inline.com from the United Kingdom. It is very plausible that people from the United Kingdom or other parts of Europe are not as knowledgeable as some of you who have been following this company for years.
'rocky301',
I agree with you but we wanted to make a clear statement that investors are not all day traders or people who come from the investment community. We must all understand that "shareholders of record" can be confusing for ignorant investors like us.
We think that the explanation on ACT's 10-K form "As of March 11, 2011, there were approximately 235 shareholders of record of our common stock" is sloppy and vague and we have discussed the matter with their Investor Relations person.
My boss has asked me to reply to the information written in the 10-K form pertaining to "As of March 11, 2011, there were approximately 235 shareholders of record of our common stock".
My boss spoke to James Young of Investor Relations today and Mr. Young (who replaced Dan Schustack) confirmed there were between 25000 and 30000 shareholders of Advanced Cell Technology. Quite a difference !!!
Make that 2 million actually. One at 13:37 and another at 13:41 .
I agree with you 100%. In fact, looking at numbers worldwide and considering approximately 200 eye diseases , ACTC could go beyond those figures. Now if we were to consider other diseases which ACT can cure, well...Now you're reading this and you're saying to yourself " Another wishful thinking investor " . So investigate the clinical results with animals .
So, how many shares did you trade out of the 13 million shares sold and the 7 million bought today ? I haven't seen any financial institutions buying this stock, so, in your opinion, what is the percentage of short sellers, long holders, wishful thinking and small investors, or any other type of investor you can think of ? An answer would be greatly appreciated . Thank you .