Boner: I do not bother to pay on this site, so I cannot make private replies. However, if you can make private replies, I recommend that you send me your personal email and I will suggest something for you to consider.

Boner: I think you are being a bit hasty. I suggest that you calm down and give management a chance. I think that the strategy is sound, and the management appears competent. In my opinion, this stock has excellent potential.

I do not think that trees grow to the sky, and neither will Zyne. At some point, the stock will stabilize and level off and cease to outperform the market (barring positive catalysts). The relevant question is, IMO, what is the appropriate total market cap for this situation? Right now, the total market cap is about $325 million or $268 million exclusive of net cash. To me, that still seems modestly low for its opportunity. Having said that, I have had difficulty putting any meaningful numbers to the expected cash flow. So, it is pretty much seat of the pants, as they say.

Is the price of synthetic CBD going to be competitively advantaged over the natural production process from hemp? Does the market think that Zyne is going to be a wholesale supplier to the otc market product universe?

"There is zero indication that IMUN is shifting strategy towards the pet market." Dwarren428, the Griffin apologist

Of course, but the quarterly report was six weeks ago, and they have not fired everyone. The market sees that they have not fired everyone, and so they are continuing to burn money. If they did fire most of the staff, the stock would rally because less money being burned, longer time line to sell, and clear signal of intention to sell the company.
The critical question remains: Does anyone care to buy the remaining IP? My guess is yes, but it is just a guess.

It does make sense. The cash is certainly already lower than last reported and will certainly be spent before any thing happens. They should have fired everyone by now except the Treasurer, but the self centered management is just interested in their own paycheck. The only question is "Does anyone want the remaining IP?" The market says that is a long shot.

Looking like garbage today. These fools think they have the marketing capability to make things happen. They do not. The revenue results stink. Furthermore, they have run up debt. They now have twice the debt that they have in market value equity. In other words, they are financially over-leveraged and at risk of bankruptcy. They company should be sold immediately to the highest bidder.

I think that Mediwound has made a fairly stupid move in partnering for US distribution. It is a fairly clear sign that the company intends to more or less "Go it alone" in marketing its product, by essentially sub-contracting distribution. This is stupid because it is sub-optimal and very expensive for shareholders. What the management should have done was to sell the company outright to a major player. Now, they have contaminated any interest a major player might have by having signed up a US distributor. This behavior is a sign of a self interested management of the company. The management is more interested in perpetuating their paycheck than in doing what is best for shareholders.
That is why the stock is down sharply today. In earlier communications it "seemed" that management was negotiating the sale of the company. That was deceptive and misleading. This is bad management.

Hopeful: What you have said is not stupid. It is a reboot. The reboot is to cancel the debt by doing the cramdown with protected preferred stock conversion rights. It is very obvious. Part Deux is that they think they will then do the "cats and dogs" strategy. That has some small chance of working except that you have two problems. First, your common stock will be immediately destroyed, and only the large shareholders will be protected by the cram down conspiracy. Second, the "cats and dogs" strategy has little better chance of working as long as Griffin is in any way involved. Griffin is simply evil and untrustworthy and everyone knows it.
Now, you will say, oh, but we have Roscoe Moore, a veterinarian. Ok, maybe, but he too is simply part of the same conspiracy with Griffin, and the whole Board of Corrupt Directors.
The present small shareholders are simply screwed unless you are one of those blessed crooks who sleep with Griffin....oh my God! what an image...that will give me night mares! I would rather die than sleep with Griffin!

Your questions are silly and naïve. I told you to go read the Def14a and the terms of the preferred. DO THE MATH.
I am not going to waste my time any more talking with you. Do what you wish. I do not care.
I told you so.

Fine. You think I am wrong. OK, buy the stock all day. You will lose all of your money.

Griffin has certainly bribed the large shareholders in order to get their approval vote. The large shareholders will get protected by some sweetheart deal that none of you will know until it is too late and all completed. It will prove to be a conspiracy among Griffin, the Board and the large shareholders to screw over the small shareholders. Just watch, if you wish, but it will be too late.
The 400 million common will become 400 thousand shares, and the preferred shares will get issued and become 20 million post reverse split shares. Your shares will become virtually worthless. You have been grossly naïve to not realize this. It is all there in the Def14a's and the terms of the preferred. Do the math.

pathetic

Is that all you have to say? Pathetic. How do you think Griffin has gotten by for the past seven years? Eating roaches in Florida while taking lavish cruises with her family? You have no idea what Griffin has done and how she has exploited the shareholders.
Why does Cytocom exist? Answer: no good reason except to pay Griffin.
How Does Griffin own large shares of Cytocom? Answer: because Griffin gave those shares to herself.
Such questions go on and on for seven years, but the answers are always the same...Griffin exploits her power to bribe the Board and to pay herself while she fails to perform.
Fools like you believe her because you no longer have any choice. This is the same psychology as the large shareholders like RJ Dailey, and the numerous others I could cite. In for a penny and in for a pound. They, you and I have lost millions as a results of Griffin corrupt incompetence and deceit.
Right now, the company is about to conduct a massive cram down through the issuance of the preferred to cancel debt, post reverse split. The reverse split limitation on the preferred will result in the debt holders, including Griffin, owning over 98% of the company, and you, and your pathetic common shares presently will be effectively worthless. I told you so but you did not listen. End of discussion.

Then I shall say again, without the alleged "vulgarity," that Noreen Griffin is a self confessed criminal. Griffin and her gang of complicit thugs have displayed utter incompetence for the past seven years. They have repeatedly lied, and failed to perform on every single promise of objective that they have ever stated. In addition, every single person whom I know, and there are many, who have had personal business dealings with Noreen Griffin regards her as a thief, incompetent, illiterate and a despicable person. It is no wonder that no one, and I mean no one, except fools and complicit thieves, are willing to conduct any kind of business with this ugly, hideous and evil person.
Griffin raised $20 million during the past seven years and destroyed well over $200 million of shareholder value. The entire past seven years has been nothing but a scam by Griffin to pay herself and her complicit board members and stupid large shareholders at the expense of the shareholders at large. Is that sufficiently clear?

I have far more knowledge of this company and all of the persons involved and their intentions than you can imagine. That is all I will say.

Irritable bowel syndrome? Go on Low Dose Naltrexone...proven but you likely do not know it.

All early stage biotechs have a continuous slow dive into bankruptcy. That is obviously because they burn money, and the moment that they can no longer raise money because they failed, they are, in fact, bankrupt. That is also why the short sellers continually short them.....most of them go to zero. If you do not know this, I suggest you read a book.
There are only two reason to long a stock like this. One, you plan to trade (i.e. sell) every spike that occurs on any silly little bit of hype. Two, you believe that the tech is real and will succeed and then some big mother will buy us for zillions. The only other game is to short it. You choose. Which game do you wish to play with this particular puppy. It is up to you.

"wreaked"? Perhaps you mean "reeked"

It was fairly obvious that the company must be sold in one manner or another once they had so screwed up the P3. However, the incompetence of Boards and the greed of management can lead to all kinds of screw ball outcomes. So, the good news of the press release of yesterday is that they appear to understand that they are toast. That is a valid reason for the stock to go up. The increased probability of a sale or other transaction is the reason that I doubled my position. Nevertheless, there are always sellers on news, because news provides liquidity.

I actually doubled my position today, but it is a very small position. It is a highly risky position that might double on a deal. We already have the loss as a result of the incompetent performance of management. There is no changing that. However, there is still some small chance that there is a buyer for the remaining IP and that that buyer can find a way to protect himself from the class action lawsuits....not sure about that. Hence, from here, I say that it is a highly, highly risky double. Only bet that which you can afford to lose.

Oh, and there is more. The Tax Net Operating Losses of PRTO are of doubtful value according to the last 10k. Hence, even those are likely useless to an acquirer. Maybe there is a way to sell the IP in such a way that the inevitable lawsuits cannot claim preferential transfer or something. The odds are high that this company is toast...burnt toast.

I think that the market reaction is completely sensible. First, after this complete screw up the primary IP is worthless. That leaves only a couple of phase 2 candidates. On top of that the credibility of management is seriously impaired. Thus, the value of those two P2 candidates is also doubtful. Finally, the probability of class action lawsuits in this situation is HIGHLY likely. Why should anyone buy this company with this crap smeared all over its face? Long shot double, at best.

The simple fact is that this management has screwed up royally. Management got another shot at their P3, and with the cooperation of the FDA actually redesigned the endpoints to their benefit. This action was highly suggestive that the FDA wanted the new P3 to succeed and hoped that it would succeed. Yet, the company failed abysmally. After such performance, it is obvious that this management will never be able to raise funds again, and has lost all credibility.

Now, the Company is trading at a price of NEGATIVE $10 million of Liquid assets net of debt. Thus, the market is saying that the remaining intellectual property is of no value, and management will simply blow through the Liquid Assets that the company holds. This is entirely possible given the already demonstrable incompetence of management.
Then, we are told that the Board will hold meetings and eat donuts and drink coffee while they figure out how to steal more from the shareholders. The lawsuits are inevitable here. The only way out of this disaster is for management to get on with selling the company post haste. Fire everyone to conserve cash, including the CEO, and let the Treasurer auction the company to the highest bidder. Then we will find out if the remaining IP is of any value. Management is nothing but negative value.

yes. All of which warrants are possible to hedge by shorting.

Wrong again. There are 22 million equivalent shares outstanding.

It is reasonably clear that the shorts are into this one, as usual. One might think that the shorts will soon run out of shares to borrow. However, there is more to it than that. The warrant holders just received 16 million warrants and those warrants are all at or in the money and exercisable. It is entirely possible that they are exercising and selling rather than holding for the long term. Remember that there are 21 million shares effectively outstanding; not just 6 million. It is impossible to know how far the warrant holders might take this puppy down. Maybe there is something that prevents the warrant holders from doing this, but I am not aware of it. Maybe the company will tell us something about this or maybe one of you can tell the board if the shares are still borrowable.

Look, we now know that there are 21 odd million shares out. So, at the current price level, the market cap is about $80 million. The pipe dreamers say $10. That would make it a $200 million cap. That seems rather fanciful given the actual state of their drugs and their development. Maybe, but that is a high side, I think, for the time being. More realistically, $5 or $100 million cap seems like something that might actually happen once the CEO is finished pumping for the next two weeks.

Why would the company offer now? Its cash position is excellent, and they probably view their stock as under valued.

To further clarify, I think that $5 is the best case take out deal in a competitive bid. A partner deal is probably more likely and takes the stock to something like $3. IMO

I think it is rather unlikely that not one, Gates or major pharma, has no interest in working with NVAX to advance the matter now that actual data, although not definitive, is available. The only question, I think, is how many people are interested and therefore what will be the competitive landscape to partner with or acquire NVAX. Personally, I think that there will be more than one, as there are several eligible parties. I expect we will see this week. I believe that the delay in the final scheduling of the earnings conference call is to button up the critical terms if not, indeed, the final terms. I just hope that the deal is not exclusive so that there is the possibility of a bidding war. However, given the vagaries of the data, that may not be possible any more. My point forecast is that we see a $5 take out. Let us pray.

Unfortunately, the apparent information about this company is highly deceptive and manipulative. There are not only 6.2 million shares outstanding. The truth is that there are about 22 million shares outstanding. This is because the company has issued as much as 16 million shares via warrants at market strike prices. This information, while technically disclosed, was not fully disclosed in their press releases which only stated the actual shares issued. This was manipulative and deceptive. This behavior reveals the true character of management. This is a management that deceives and manipulates and does not practice full transparency. No wonder the stock is shit.

Well, Maybe it is clear that the insiders are massively selling because they know it is all BS. They have given themselves free and unrestricted stock and they are just milking it for anything that they can get. If so, this is criminal behavior. IMO

Thank you for the link that you appear to explain your earlier posts. However, the word "warrant" does not appear in this press release. The word "warranties" does appear. I still do not understand.
All I see is a company whose stock is plummeting, which company is managed by a person of unknown reputation. The company has done a backdoor merger to go public and executed a massive cram down reverse split in order to screw over the prior group of shareholders. Mr. Mehta has no apparent credibility and the board is stuffed with people who failed with the previous company, Apricus. I see nothing here but people who are not credible. This is likely a pump and dump.

I do not know what "their" news link is. That could mean any number of things, but I see nothing on the website of the company; I see nothing on SEC filings; I see nothing on company headlines on NASDAQ. Perhaps you could be more specific.
Nevertheless, the stock is dropping like a rock and the company says nothing and has no conference call with investors. The CEO is an unknown and is therefore only a risk. If one Googles his name, one receives links to the many people of the same name, including an Indian actor. This is also not positive. The Apricus players could be involved in a pump and dump scam in this one. The evidence so far is not very encouraging.

I do not readily see public information that warrants were sold. Also, if this is the manner in which this company, i.e. Mehta, is going to operate, then the stock should be sold. If he does something like that covertly then he cannot be trusted. Since he has absolute control of the situation, it becomes immediately apparent that he is not trustworthy, IMO.

Why is the price action of this company so poor?

I think it likely that the owners of the predecessor company are dumping this stock as they were destroyed in the cramdown that occurred during the merger. Having said that, it is now incumbent on the new management to demonstrate that they care about all shareholders and are not just yet another group of crooks.