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The question comes down to just what "initiation of consumer testing" actually means.
Maybe it means enrolling test subjects. My interpretation is when actual testing begins - as in, applying the cosmetic to human skin.
How do you reconcile the two, apparently, conflicting statements?
"initiating the consumer testing in RX-231 before year end"
No. From the 3Q 2016 CC: "We are expecting to have the compound manufactured and released by early in the beginning of the first quarter"
Are you really as utterly naive as you write? Apparently so.
Do you have a gain on RXI? No? I didn't think so.
Are you too embarrassed to state your position? (Yes)
Oh, I know! You're a delusional genius who has never lost a dime in the market!
If I don't own shares, why would I bother posting? And, yes, I'm underwater (you ever think that might explain my negative comments? Nah, that's way too obvious, right?)
My breakeven point is $4.10 - and it's that low only because I wisely sold at a loss earlier - and then, unfortunately, bought again, trying to catch this falling knife.
Just to be clear, I like the technical progress, but RXI's terribly weak finances mean that continual dilutions to fund the company makes it difficult for shareholders to come out ahead.
You dislike me because I see see things as they are instead of your naive belief in trusting an irrational bump.
But follow the crowd buying after a stock is pumped if that's what makes you feel good.
Nice to hear something other than irrational exuberance (phrase courtesy of Federal Reserve Chairman Alan Greenspan in Dec 5, 1996 during the dot-com mania).
Keep in mind that $2.60 is where the PPS was way, way back in June 28 of this year. Yeah, that's how far and how quickly this dog has fallen. So, I agree that the jury is still deliberating RXI's future.
It's anyone's guess. But I will say that perhaps, maybe one day I'll get back to even.
I want a lot more than to merely get back to even. I want to get at least 100 times the current PPS ($1.60). Probably won't happen tomorrow though (tomorrow's Saturday, so maybe next Monday...)
Who do you think paid for that Life Science article? (Hint: RXI) In fact, all Life Science articles are paid by the companies that are featured. They are simply paid ads.
But go ahead and buy. Just understand that your buy comes with hype / pumping. And that company insiders don't seem to share your enthusiasm.
If RX-231 (the skin lightening product) can be used not only for hyper pigmentation, but also for skin lightening, in general, then the market would be mega-large.
In Asia, lighter-colored skin is prized as a status symbol signifying sufficient wealth to not have to work under the skin-darkening sun down on the farm. I know that in Thailand you'll see ads for various skin-lightening creams and that the majority of TV / movie actors are light-skinned.
I'm fairly certain this attitude holds throughout Asia.
What are you referring to?
"Oh, I thought it had something to do with the Griffin Securities announcement in August."
Witty, clever commentary is not your forte.
Though, smiling while losing money perhaps is.
You ask why? Seriously? Very well, I'll indulge you...
1) PPS: 8/1/16 = $2.40, today = $1.29
Just look at RXI's chart: it's been a one-way decline for years now.
2) Looking at RXI with "Big View / Visionary / Long Term" eyes has been a disaster for your net worth. RXI has never failed to screw its shareholders - repeatedly.
3) The MirImmune merger is outrageous. Geert extols the virtues of its Science, while failing to mention RXI's next-to-nothing bank account (ie, the burn rate). RXI simply doesn't have the money to do this.
4) Did you notice that Samcyprone barely got a mention in the CC? Is it a red flag?
Pardon me for for so petty as to feel making a profit should be placed higher than "THE SCIENCE". Pardon me for not believing in lollypops and fluffy clouds as do True Believers.
Insiders seem to have a far better handle on RXI's prospects than yourself. You think maybe they know something you don't? Nah, couldn't be.
Then again, maybe you'll have perfect timing and catch this falling knife. Then again, maybe you'll win the Lottery.
Me? I'm just holding onto my underwater position. I recognize RXI may turn out to be successful. Of course, there still remains multiple rounds of dilutions and reverse splits so my shares won't amount to much.
"That means Nov/December we should see new phase 2 scar results"
Uh... isn't it November already? And isn't it generally the rule for business that next to nothing gets done in December?
The only really positive thing I heard in the CC, was that the skin-lightening cosmeceutical has a formulation that won't require micro needling. Now, all that needs to be accomplished is to actually make a viable product.
And let's see, what else? Oh, yeah! Shareholders get to be reamed once again to raise money! Yay!
Ah: Your "they" referred to the short sellers.
Mea culpa. My bad.
So... you mean to say short sellers find R/S too cumbersome? Yeah, right. But not to fear, as short sellers, too, have access to computers these days. So I doubt the accounting would be cumbersome.
You operate with a very keen mind - not for investing but I'm sure your mind is good for something.
"The accounting is much too cumbersome"
News Flash: There's these new-fangled gizmos called computers nowadays. It's like, automatic, and all.
========================
"They don't want to deal with a reverse split"
They (ie, RXI) has absolutely no qualms about reverse splits considering as how they've done it twice already (1-for-30 and 1-for-10).
Your reasoning is quite imaginative. Wrong, but imaginative.
"i thought those days were behind the company"
Perish the thought. Multiple dilution and R/S is likely to be in RXI's future. Why do I say this? Think: No insider participation.
You could also ask:
Why is RXI chasing yet another dream (MirImmune) instead of focusing on the existing ones to maybe, oh, I dunno... bring in sorely needed money? Nah! Why would they want to do that?
1) I don't have any idea what the two share classes mean.
2) If RXI wants to buy MirImmune for 20% of RXI shares, couldn't that 20% simply be created and then given to MirImmune for no monetary compensation? Thus, RXI receives no money - which is kind of needed in the near term (7 months).
3) While 2), above, causes dilution, truly ruinous dilution will be caused by the S-1's new 20.7 million shares, which is separate from the MirImmune matter. No idea what these shares will be priced at, but I figure it will be far, far less than the current $1.18 / share (80% haircut?)
"hopefully the institution or pharma company they are selling to is popular. If it is Baker Brothers or Sabby capital that would be huge."
Where have I heard this before?
Oh, now I remember! Right before EVERY time RXI has diluted.
I can however tell you:
1) Shareholders are about to get reamed yet again
2) Buckets of multi-year cash pouring into RXI's coffers will not happen (ie, think one year's worth of money)
3) "increased shareholder value" is corporate-speak for
"More pipeline potential! + Please ignore the fact that we haven't made any major money deals yet, but trust us as we're making progress"
"Stock is getting pummelled by shorts IMHO"
Here's the mechanics of dilution:
1) A company (ex: RXI) approaches Big Money investors (no, not Big Pharma)
2) Company arranges to offer them "X" number of shares at a fixed price below the current PPS
3) Big Money immediately sells (shorts) the "X" number of shares they agreed to buy later (driving down the price - though they don't really care what happens to the price)
4) Big Money buys their shares at the agreed-upon fixed price, covering their short position
1) I'm not confident that dilution is even possible considering RXI's low trading activity.
2) Simple math lesson:
a) Need to raise one year's worth of operating capital ($10M - minimum)
b) $9M Market Cap
c) Results: At least a 50% decline in the value of your position
3) Correction: "puddly" is not a word. What you mean is "piddly"
Geert also mentioned that now was a good time to buy.
Yeah, sure. But insiders don't seem to agree.
Bottom line: IF RXI can get $ (from somewhere / somehow) in the next two quarters, they have a future. If not, then it will close its doors.
Very first post (ever) by a brand new alias (poster).
Plus, you supposedly know details about this private company no one else does.
Okay... please don't keep all us peons in suspense.
Tell us how much money MirImmune has (note: MirImmune consists all of 5 employees). And just how is it that you know this tidbit?
Your post is inane.
Absent a deal (partnership, sale of company, etc), I can't see how RXI can obtain $ to function beyond June 2017. At a current Market Cap of $9 million ($1.34 * 6.6 million shares), and at least one year's worth of money ($10 million) needed, it's not looking good for shareholders.
I think RX-109 for both dermal and retinal scarring are going to reqire more testing before being of interest to Big Pharma. That leaves Samcyprone and the cosmeceuticals as the only two possibilities for salvation.
MirImmune? Makes no sense to me.
Any True Believers left to put a positive spin on RXI's relentless destruction of "shareholder value"?
Buyout? RXI has consistently screwed shareholders. That, plus no insider participation.
Can you imagine how much value the shares will decline upon yet further dilution (and yet another soon-to-be reverse split)?
Little point in selling now, so I'll continue to hold. Either RXI fades into the ether or grabs the Brass Ring. The next few months will tell.
I used to read the Yahoo RXI message board, but between Yahoo's inexplicably bad decision to change the board format (effectively killing their franchise), and the (literally) two RXI trolls who do nothing but trade insults 24/7, I moved over to this board.
No one reads or participates on that board any more.
As for StockTwits, I looked at it and concluded it has about as much value as watching "Keeping Up with the Kardashians". I doubt StockTwits has significant influence (as opposed to Kim Kardashian whose only talent seems to be having large hips and bust).
Are you referring to me?
If not, what social media are you referring to? No one has any interest in RXI.
Btw, I don't use scare tactics. I simply point out facts.
"Maybe a prospective buyer or interested partner trying to get PPS down?"
Volume is minuscule. The PPS keeps dropping because demand is minuscule(r). I doubt that any large partner exists right now.
Let's do some back-of-the-envelope math.
Current share price = $1.69
$1.69 * 6.6M shares ==> $11.1M Market Cap
Current operating needs are $10M / year
Considering the expense (and distraction) of raising money (dilution), it really only makes sense to raise at least one year's worth of money.
So that $1.69/share will become (11.1 / 21.1) * $1.69 = $0.89/share
Bottom line, the time for dilution / reverse splits is over. RXI needs to get a significant deal before its money runs out.
Yet another dilution?!!!
Between RXI's multiple dilutions and reverse splits, long-term patsies (uh, I mean "investors") will soon need a 100-bagger just to get back to even. Unless, of course, they get suckered again into "averaging-down" (aka throwing good money after bad).
Before you, too, average-down, take a moment and ponder why insiders haven't bought RXI shares.
I think RXI should be named to: "Unsafe at any price"
(with apologies to Ralph Nader)
Is this becoming the Age of Trump? You know, the guy whose only "genius" is his self-enrichment at the expense/swindling of stakeholders?
Good points. But the frustrating thing about RXI is that while their technical progress seems to be going along fairly well, their always-fragile financial condition undermines them / shareholders.
Yes, the cosmeceuticals pipeline is potentially their best asset.
However, they don't have the money to complete human testing (six months). And don't forget the time it takes to recruit test subjects.
"How low it can go?" Zero.
I figure at least a 50/50 chance of RXI failing, though there's really no way to handicap the odds.
===========================
"Is it time to buy more? No.
Unless you think you know better than insiders (who have made no share purchases on the open market), it might be best to follow their lead and refrain.
Buying RXI is like trying to catch a falling knife.
Just look at its price chart. Whether looking from March 2013 or March 2014, investors have suffered ruinous losses.
1) The RXI-109 scar trial is significant, but how well does it work?
I suspect additional tests / cohorts (Phase 2B?) will be required. You have to figure insiders have a pretty good idea of the trial status - and they're not buying shares on the open market.
What really matters is what Big Pharma / Big Money thinks. So far, they have not been impressed enough to make a deal (ie, that they're interested / talking doesn't keep RXI alive).
Keep in mind, RXI's pipelines must not only work, they must also work well enough. The dosing protocols had better be close to optimal at this point because RXI simply doesn't have the money for additional testing.
2) Why do I like the cosmeceuticals?
The potential market dwarfs all the other pipelines' potential combined - many times over. And, in theory, the path to a commercial product is quicker and cheaper than an FDA-approved drug.
In Asia, lighter-colored skin is highly prized (all TV soap operas and ads feature actors with light-colored skin). Cosmetics to lighten skin tone is big business.
And RXI's other cosmeceutical to tighten lax skin and improve its overall appearance... Well, do you know a single adult who doesn't want to look younger / better?
And let's add that no insider, other than Geert, has purchased any shares on the open market - ever. Keep in mind that insiders are not lacking for personal funds. Considering RXI's now low market cap, you really have to wonder just how good the clinical results are looking.
I became interested enough in RXI to take another plunge (after closing my previous position) upon the announcement of the cosmeceuticals. I thought progress was going to be far quicker than it has been so far.
Please clarify: "This Company has nothing to do with the protests. This is NOT Enbridge"
I don't understand what you mean.
Today's (9/27/2016) presentation:
"RXi Presents at 16th Annual Biotech in Europe Forum Global Partnering & Investment Event"
Slide #7 ("Current Development Programs with sd-rxRNA")
omits mentioning Samcyprone.
I don't know what that means - I'm just pointing it out