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I hope they can just weather the storm they are in here....and I agree there will be time to get back in once...if...once...they right this ship because many will be waiting for solid backing the rest of the way up from here.
Good luck to all!
I disagree.... Garnick brought 17 drugs thru the FDA halls....and exited with approvals for these 17 including Avastin which is the comparison that Bavi has long been associated. Why would they allow Garnick to have control of FDA approved drugs and now.... all of a sudden he is not competent? It sounds to me like that poster child was a little jealous....
All in my opinion....and you sound like you lost your faith in Bavi Thurly....all of a sudden?
I am still waiting for the final summary from Peregrine....and hopefully that will be soon. The only good that comes out of this are those who have been buying at these low levels.
GLTA!
Avid is an asset...imaging is an asset... cotara is an asset... bavi is an asset.... I like the example someone gave before in that all these assets are much more valuable than the critics think and we are going thru our toughest patch to date and once Peregrine concludes its final verification of the trial data...I am certain they, and more importantly... the FDA will conclude that patients are living longer due to Bavi and not some placebo. Till the announcement.... the company already stated the 3rd party to be held liable for this delay and like evrryone else... I am looking forward to business as usual. Peregrine has money till end of 4th qtr and a BP is going to be paying to invest in Bavi when all is cleared ....I am simply going to use this as a buying opportunity and can work to your advantage if are able to increase your holdings.
GLTA!
"ACE" Insuring Progress.. 10 Million limit
"Up to $10 million for Products-Completed Operations and Professional Services Liability"
http://www.acegroup.com/us-en/businesses/site-management-organizations-contract-research-organizations.aspx
CRO Info / Insurance Policies
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CRO INFO:
"Worldwide, there are about 1,100 companies operating in the contract research organization industry, including a number of individuals working as independent consultants. Only a few hundred CROs have sales exceeding $10 million (USD), and of these only about a dozen are publicly traded. Most of the largest contract research organizations have operations in multiple countries to support the conduct of international clinical trials. The 5 largest CROs control about 45% of the worldwide market."
http://ww.louisianamoulding.com/Definitions/contract-research-organization-definition.html
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INSURANCE FOR CRO'S -- this article dated back 2010
""Life Sciences Research Related Liability Coverage" is designed for eligible CROs who work with biologics, pharmaceutical and medical device development companies on an annual or project length policy with a capacity of up to $10 million."
http://investor.shareholder.com/navg/releasedetail.cfm?ReleaseID=536483
Guess I shouldnt post while drinking....:) will sleep this off and hope for a positive PR tomorrow
Loan payback advantage #1
The loan prohibited them from buying back shares...it was a restriction on the loan agreement. If they could buy back 150 million shares ...for a dollar tomorrow...that equals there shelf and they would take control of 15% of the company. Now this may bring much more leverage in a buyout ...?
Company is a steal at $14 pps now....especially since the ghost share buyer(s) will be owning about 40% of the company.... 60,000,000 * 15 gives a major BP this company for 900,000,000 ...under 1B!
I would like to see them carry it thru ... just am getting tired of the waiting game.
Bottomline...imaging..cotara...avid...and bavi worth much more than 1B but going to play the waiting game again?
Worst case ...imo... if some BP now has 20% locked up in shares...thats 80,000,000 *15 to get 1.2B
.....this is why you will see this stay above a buck and buyers scooping up what they can....its worth much more in a sale at this point!
If the 3rd party is required to be on the FDA's approval list to be used by the BP's...you would think that they are insured and if not...Peregrines must be required to have insurance. The #1 priority for this company is to get a PR out to reassure their shareholders! We have had their back all these years supporting the stock ....now its time to show some backbone and speak ...
The BPs that have all seen their data and pipeline are probably all swarming over this company now to try and pick her up on the cheap for just partnering or buyout. Tomorrow brings morning is the day that Peregrine must give us some info on any or all of the IST in progress!!!
Another day to pick up cheaper shares tomorrow if no PR comes out
I received a few letters from Peregrine today...confirming ASM over the phone proxy vote in case anyone else received any....
Glad to hear that - eom
Loof... I think things will be fine. Peregrine has a drug in Bavi that shown to work many times all the way up into the Phase IIb NSCLC and I honestly don't believe that Doctor Garnick or Gerber had this big master plan to lie about the trial.
I will say that Peregrine became a much bigger threat to competing BP's in the past couple months and thats the reason soo many were in partnering talks with Peregrine!
Now as for this mess thats been going on... I don't think it deserved an 80% sell off at all ...but it does show how important "crisis management" is any company and you must face it head on immediately and get your story out there. I think it was too late for Peregrine to come out and say anything because once the higher powers to be got involved ( still speculated as... FDA ? or any other governmental agency? ) then... they couldn't say a word unfortunately and the PR they sent out I'm sure had to be worded like that till all is resolved.
Many companies that have set backs... rebound in weeks and months and I believe Peregrine will fall into that category!
I just feel bad for the price drop and don't like to see the big boys as the ones making the money ( hedge funds.. others? ... traders of course will be here till this calms down but newbie traders that never understood this stock or its history and its "potential" before all this can't seem to understand why its going up ) Obviously someone is buying a ton of shares... and they are not buying a ton to simply sell off...
All in my opinion.. and this stock has been a little bumpy over the years but right when we all seen the light at the end of the tunnel....rocks start falling from above.... but I'll be driving right thru to see this light at the other end!
GLTA!
I agree with ... you are taking a wild guess....
But after what just happened the past couple days...you are not going to need candles to tell you that 80% share drop on basically a 3rd party being held liable ...for coding is purely crazy. I am not looking at candles and will take an educated guess that we will retrace our steps upward.
Nothing will happen till investigation is final and we hear all the facts... in my opinion. They only make interest payments anyhow and as wild as this ride has been.... it just goes to show you that anytime a bio stock has something of historic trial data, its causes lots of excitement and panic ( as seen yesterday )
GLTA... !
yes...trapped and can't get up! eom
Agreed... I must have typed and erased 10 messages this morning because I am just not going to respond to our new friends this morning : )
Good luck and looking forward to some type of response wrap up on this matter.
IF the NFL ref's were in charge... they would say:
"You guys lost 80% yesterday by mistake... so we will off set that ruling and give you back 80% today."
.....
GLTA!
Here we go again... get ready to push thru 1.68 in a minute... spoke too soon...
I hope we hear some news from the company about this entire fiasco!
someone or some group just bought a $hit load of PPHM!
what the heck... this is straight out of a wall street movie
thank you for covering ! eom
You shorting and nervous now? Good luck to all longs we have been here before! The science has been proven all the way thru Ph. IIb as seen in the buying back of shares yesterday and today.
Back to work for me... my prediction for end of day is 1.65 due to the fact more shorts jumping in not realizing the backing thats here and will be more buying... then more covering till end of day.
1.65 see you soon! : )
GLTA!
I hope someone buying 10-15 Million shares will not have some negative outcome on a partner/buyout down the road... everytime we have a hint of dropping there is someone scooping up shares bigtime!
same thing with yesterday.... I just wonder if its possible someone controlling as much as 20 Million shares
I agree! Even if this was not Peregrines fault... they need to show the shareholders they have some character and let it not just be all about themselves. Look at this stock now rising after many losing their shares yesterday to this big mess!
It may be too late for this years ASM... but I am all in for trying to get some type of signature/letter/suggestion... how ever we can do it... to double the size of the board on the ballot sheet. I know many other companies get enough votes to do so and I would even have everyone I know just buy 10 shares of stock just to have voting rights to get this going.
Wook.... I agree, even though the company may not be able to give out any specifics during an investigation... they can at least give us a general picture of what the heck is going on.
Some points were brought up about were they advised to place that word "major discrepancies" ?... also advised to put out that press release at 7:30 a.m. ? which wouldn't force the breaker to go off and stop the drop in this stock .... and now my question is who is buying up all these shares. I mean 68 Million is just amazing and I'm sure the investigation is going to include finding out what BP's were buying that were in partner talks with PPHM and seen their trial data/books..etc?
I look forward to the day that we're told:
1) Peregrine cleared from investigations
2) 3rd party responsible
3) Ph IIb is allowed and clears the way for Phase III
And hope that day is here in a couple weeks
Karma tells me we will be fine thru all this.... but another group that will make out are option holders in October.... something tells me shortly before option expiration there will be all eyes on the share price again
Lets hope we get some type of info from the company for a little... much too late.... damage control and reassure us of a few things....
They should be able to inform us of who is investigating who because I sure hope Peregrine are not the only ones defending themselves
I would disagree...it has not just started working (bavi) all of a sudden... its been proven thru each stage right up until phase IIb where obviously someone is causing a road block. I have faith in Garnick and Gerber and the science behind Bavi.....patience and time is all we need.
Stay strong longs....look where we are at! We have climbed 40-50 cents up easily not too long ago and we will move even faster once we get confirmation we have a go ahead with Phase III
The company can do some reviewing themselves and everyone needs to have some faith in Gerber and Garnick. You think they are lying? At this stage in their careers and outstanding track record... the truth will come out and Bavi will continue to be an amazing drug in the fight against cancer. Everyone relax and watch as Peregrine will fly again!
Who finds it odd all those shares pre-market....selling off.... we will be fine in the coming weeks.
Great post.... because it all sounded way too fishy and I am glad to hear that FBI was given this info and hopefully its in their hands to find out who sold out and who has been buying. Hang in there longs!!!
This is far from over.
We will see within 10 days if someone stockpiling shares....
Next is someone bought enough today to push the price up for options day...next month
Too much control and manipulation for someone if enough shares were purchased today.
SK best be in talks with a "crisis control" to make the correct moves and prepare a letter to he shareholders .... they need to show some backbone because I believe Bavi is a winner!
I dont like how our books were opened to any number of possible partners and lets just wait and see how this plays out
I sent an email also to info@peregrineinc.com and received a response within 3 minutes... looks like auto reply?
Their response: "Thanks for the email. Unfortunately, as this news is tied to an active investigation we are not making any public statements beyond what was issued in the release.
We anticipate sharing the results of this investigation once it is completed.
Please understand our difficult position."
Buying opportunity for sure... I sold out of everything else and into Peregrine we go... This ship is not sinking and far from it.
This is tough to stomach but something is fishy for sure... I am holding and stepping away for 1 week.. no posts till next monday
All I know is Peregrine was in control of the data results before ph. IIb and they knew what they had and is the only reason the many multiple IST's were initiated....
No way I'm selling a share... like I said those selling are the ones .. big funds... that have to sell and forced to
See you all next week
I think this is the key:
"This discrepancy is specific to this trial and will have no impact on other ongoing bavituximab trials."..
If it was just a coding error... and people are living longer ... we need to see the other IST trial data asap
It is very odd... now the price is driven down not by the majority of those longs that have been here for a while. The majority of the selling are from those funds that are forced to sell under a certain price ( $5? )
I am holding my hand steady...
Can we now believe that Peregrine has nothing to do with this error and the patients that are still living are some how living longer on a treatment arm other than Bavi? History has proven that control arm and the only logical explanation from the ones living longer is directly from Bavi.
I am holding till all is squared away and now... well now its time to look deeper into the personel for this 3rd party and if they were influenced in anyway because this doesn't make sense at all and I sincerely hope there is a logical explanation from the company given asap.
My posting was my opinion of whats generally going on behind the locked and bolted doors and shut windows inside Peregrine.
**They told us they are in talks with Big Pharma...
**They told us 15 meetings ( that was as of June conference call) **Garnick tells us the ph IIb Bavi NSCLC data is the most compelling he has ever seen in his career ...
**Exec's show excitement like never seen before and some hype which is completely understandable since they are on the verge of historic progress in the battle of cancer in all solid tumors.
**They kept telling us as much as they could... because they knew it was a matter of time that ..... (once BP talks advance)...
They can't tell us anything....... except for the continued historic data of ph IIb not reaching Median Overall Survival because Steven King did say that it would be PR'd if they reached MOS.
Bottomline my opinion piece derived from the removal of their upcoming events page on their website.
It still currently states: "Details on upcoming events are not yet available."
Their partnering talks obviously requires "non-disclosure" from both sides.... but many are watching their every move... including any editing of their website. This is surely the first time I have kept a close eye on a website for any clues... but "all" the clues soo far lead me to believe anyone holding shares at this stage in the game can consider themselves on the right side of the street for quite some time to come!
Goodluck Sanstock and to all! : )
All in my opinion... but I would personally put up some of my own money for a lawsuit if this company ever sold for $30 at this point
I can see how someone just jumping on board is ok with the profit but when you have something that you own and doubles the life to a cancer patient ( which has been increasing still until its PR'd that we've met MOS ) and on top of that its working on many if not all other solid tumors.... we are really in "new" territory and the value is priceless for some cancer patients and to a BP? I'll just say IF ... IF... a BP thought they could buy this for 10 or 20 or 30... the deal would have been done immediately!
They can't buy it for that price... unfortunately for us shareholders it takes time for the price to move up and at least reach a figure thats equivalent to the best drug it can be compared to and when we reach that point and realize there is no drug that compares.... where do we go then?
Higher than $30... thats for sure!
Just be content you're in on the ground floor because most people... the average investor who is not always searching for the "most read" board... and other insignificant significant stats to find the latest and greatest hot stock will not know about this till its front page news on their dining room table.