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What did Baker Brothers pay per share?
How/Why does John Wilson wind up with 8.25 million shares?
Almost as much as New Enterprise Associates.
And Why don't I see Peter Hoang owning any shares?
You would think he got something out of the deal.
Even on a good up day, volume still very light.
Need good up days on continued heavy volume.
And insiders can't sell until 180 days from the closing date of October 17, 2018. So that's mid March until those shares can even hit the market.
AVXL is a sleeper - STILL CHEAP - BUY NOW - HOLD
Bet you're glad you pick up more shares when they were on sale cheap.
Just got lucky, but I'll take the up 44% since then.
STILL VERY CHEAP - BUY NOW - HOLD - when it shoots up, use stop losses to protect profit.
UP TODAY - STILL CHEAP - BUY NOW - HOLD
UP TODAY ON BIG NEWS - STILL CHEAP - BUY NOW - HOLD
UP TODAY ON BIG NEWS - STILL CHEAP - BUY NOW - HOLD
Yep, glad it hit my buy limit of 6.06, wish I bought even more, up about 44% since then in a few days. If it goes above 10.60, it will start to cause shorts to cover, which should not only push it higher, but also free up some shares for liquidity for other big players to buy.
But just in case, still got limit buys at 6.06 and 5.25 in place.
Well, yes, it seems like $4 a share was fair at that time.
Well, I'm glad that WAS NOT right, it just didn't seem right to me.
Well that makes me feel better, hope there's not a big sell off on Monday.
It's no wonder there has been a ton selling pressure when private investors got in at $2.40.
The Company's largest stockholder, Eastern Capital Limited, has entered into a Common Stock Purchase Agreement with the Company pursuant to which it will purchase 1.3 million shares of common stock at a price per share of $2.40 providing gross proceeds to the Company of approximately $3.1 million.
AND ALSO:
Other selected institutional holders of outstanding warrants have entered into warrant amendment agreements with the Company to exercise their warrants at an exercise price of $2.50 per share. Upon closing of the warrant amendment agreements, such participating institutional holders will exercise approximately 783,000 warrants providing aggregate proceeds to the Company of approximately $2.0 million.
In addition, Mr. John Wilson, CEO of Marker, has provided a written commitment for additional financing to the Company of up to $1.0 million.
You would think that a offering (whether it's an IPO or not), an offering that was vastly oversubscribed, would be able to get closer to the current share price (at that time), So $4 seems reasonable, $2.40 seems like a crazy low.
But, that's OK, got the 6.06 and the 5.24 set to go.
Dollar Cost Average.
You make most of your money in a bear market, you just don't realize it at that time.
the $6.06 buy limit hit Thursday - Now with this new news, more people may just panic and sell. Eastern bought at 2.50, others at 2.40. If more selling, got another buy limit in at 6.06, and followed by buy limit 5.24.
This was published May 15th 2018:
Private Placement of Common Stock, Warrant Exercises and Financing Commitment
In support of TapImmune's initiatives, including the merger, the Company has entered into agreements with certain institutional stockholder and warrant holders that are expected to provide the Company with approximately $5.1 million in equity financing. The Company's largest stockholder, Eastern Capital Limited, has entered into a Common Stock Purchase Agreement with the Company pursuant to which it will purchase 1.3 million shares of common stock at a price per share of $2.40 providing gross proceeds to the Company of approximately $3.1 million. Other selected institutional holders of outstanding warrants have entered into warrant amendment agreements with the Company to exercise their warrants at an exercise price of $2.50 per share. Upon closing of the warrant amendment agreements, such participating institutional holders will exercise approximately 783,000 warrants providing aggregate proceeds to the Company of approximately $2.0 million.
In addition, Mr. John Wilson, CEO of Marker, has provided a written commitment for additional financing to the Company of up to $1.0 million.
NOW, the ABOVE equals 5.1 million raised, so the above IS NOT the 8 million Aisling deal.
so, WHERE was the 8 million Aisling deal revealed BEFORE the merger vote?
Appears Correct. SCHEDULE 13D
(c) On October 17, 2018, Aisling acquired 2,000,000 Shares and 1,500,000 Warrants to purchase Shares for an aggregate purchase price of $8,000,000 in a private placement transaction
Was this a surprise to everyone? As in, this info was not in public domain Before the merger vote?
Read it at TD Ameritrade, it was an article from Barrons.com:
Resolute Energy's Resolve -- Barrons.com
7:59 pm ET October 26, 2018 (Dow Jones) Print
13Ds are filed with the Securities and Exchange Commission within 10 days of an entity's attaining a greater than 5% position in any class of a company's securities. Subsequent changes in holdings or intentions must be reported in amended filings. This material has been extracted from filings released by the SEC from Oct. 18 through Oct. 24, 2018. Source: InsiderScore.com
Activist Filings
Marker Therapeutics (MRKR)
Aisling Capital Partners disclosed its initial ownership of 3,500,000 shares of the immunotherapy biotech company. The holding, the rough equivalent of 7.7% of the outstanding stock, cost $8 million to acquire as part of Marker's $70 million private placement financing, which closed on Oct. 17. The placement was in conjunction with the acquisition of privately held Marker by TapImmune (formerly TPIV) on the same day. TapImmune changed its name to Marker Therapeutics and began trading under the ticker MRKR following the merger's close.
IS THIS CORRECT? JUST READ - Aisling Capital Partners disclosed its initial ownership of 3,500,000 shares of the immunotherapy biotech company. The holding, the rough equivalent of 7.7% of the outstanding stock, cost $8 million to acquire as part of Marker's $70 million private placement financing.
So they paid $2.29 per share??
That don't seem right.
Where are all of these funds with big $ that so desperately wanted to buy in to the offering but couldn't because the offering was highly oversubscribed.
If they bought some shares at above offering price just to own some, you would think they would have been buying since the merger as the share price has been going down.
Geez, for an offering that was so highly oversubscribed, you would think there would be some buying pressure.
Seems like every day, a big sell order OR a big short sale OR both, and I get to buy more shares cheaper, and the short seller gets to cover their short position cheaper and makes $ on that trade.
But many just buy and hold, and do nothing to actively try to increase their profits. Protect profits/increase profits/dollar cost average to increase future profits.
10,000 shares sold at $9.00, buys back 12,000 shares at $7.50.
FRIDAY Oct. 26, 11 AM, DC33 news, hope it flies up from there.
Hope it don't go there, but got limit in @ 6.06.
Here's the thing, it's moving down fast on light volume, 145K shares.
When the million or 2 million volume days come and buyers are there, it can shoot back up just as quick.
Just a matter of more shares being available to trade, the current float is crazy small, so light volume on a down day can bring large price reduction.
Works both ways, just a matter of time.
But if you really believe in MRKR and got extra $, buy more cheaper now for a larger return in the future.
Heard a quote decades ago from Shelby Cullom Davis,
"YOU MAKE MOST OF YOUR MONEY IN A BEAR MARKET, YOU JUST DON'T REALIZE IT AT THE TIME"
When everybody is full of panic and fearful, you have to be greedy and buy, and then buy more.
Just taking advantage of the situation.
Bought more on the 15th and the 18th,
and today, 23rd, bought more at three different times throughout the day, $8.68, $7.75, $7.24.
It's not MRKR's fault, it just the whole market going down.
Dollar Cost Average.
BTW, back in March 2018, Jounce Therapeutics market cap was 986 Million, down to a current 180 million, and their pipeline is all discovery or pre-clinical.
Just another reason that shows how undervalued MRKR is compared to it's peers.
IN HINDSIGHT, owned TPIV for a long time, (yes, sold some and bought back cheaper now and then), but always held the majority of shares.
On Monday 15th bought a bit more, then yesterday 18th bought a bigger bit more.
Now I'm kind of thinking I should have just put a whole lot more $ in to MRKR.
I just put in a limit order to buy a bunch if it drops to mid 8's again.
I just have a feeling with funds coming in with $, and then the short squeeze that will cause, I should of put more $ in.
This seekingalpha article was GREAT, long but very in depth and should be read by investors in MRKR.
Article published at 8:49 AM, 10/18/18.
10 hours earlier, in post 24854 on this board, I wrote explaining similar in a much condensed form.
Hi Flyingj, to answer your question, Epizyme (also owned by NEA - New Enterprise Associates), a TPIV/MRKR owner, and Actinium.
Own both, just buying more at these levels.
Another CAR-T gets bought for 2.1 Billion.
Novartis buying Endocyte and it's CAR-T adaptor molecule (CAM) tech.
ECYT was $2.24 a share when bought on 4/17/17.
I really don't like when giants buy the smaller company, I think they would wind up making more $ in the long run just staying themselves and growing themselves.
Merck, Celgene and AbbVie gobbled a few of mine already.
Actually, buying more MRKR this morning in a few hours.
It's 2:15 AM, just decided to sell out totally of 3 biotech stocks tomorrow, and putting that $ in to buying more of 3 other biotech stocks that I own, one of them being MRKR.
AND ALSO, like I pointed out a couple weeks ago, if we can (maybe now with the help of Funds $ coming in) get the price above 10.50 - 11 , we can start a short squeeze, that should shove it to at least 12.50 - 13 range, (which would be nice).
Speaking of MRKR vs Allogene, some stuff I just don't understand.
Allogene: 2.8 billion - pipeline behind MRKR.
French company Cellectis: 1 billion - pipeline behind MRKR.
Allogene and Cellectis doing basically the same thing (off the shelf CAR-T).
Allogene is using technology that started at Cellectis that they got through Pfizer.
Pfizer owns about 25% of Allogene, and Gilead, who bought KITE also invested in Allogene.
So, you got 2 "off the shelf CAR-T" companies valued at about 4 billion, both with pipelines behind MRKR.
What are the advantages of "off the shelf CAR-T" technology that makes it valued so highly - it's much quicker and cheaper than let's say NON off the shelf CAR-T like KITE and JUNO and others do, plus it's also genetically engineered for that specific patient, also like KITE and JUNO and others do
Now compare MRKR MultiTAA technology - it is ALSO much quicker and cheaper, it is NOT genetically engineered, but that also makes it SAFER.
It also has some "proof" that it may even work "better".
So why, when MRKR pipeline is more advanced, is it valued so much lower?
For the last couple decades, biotech has been enamored by the next latest greatest new technology. We went from RNAI tech, to MRNA tech, to CAR-T tech, to TALON tech, to CRISPR tech.
ALL genetically engineered.
Along comes MRKR MultiTAA technology - quicker, cheaper, safer, better.
But it's not sexy, it's not NOW, it's not genetically engineered.
A couple of good trial results and it should just rocket ship, and you should hope that they do NOT accept a buy out by a Gilead or a Pfizer.
P.S. I'm as guilty as the rest of biotech. (RNAI tech) jumped on Alnylam early. Waited for YEARS for JUNO (CAR-T) to go public. Waited for YEARS for EDITAS (CRISPR) to go public. STILL waiting after YEARS for Moderna (MRNA) to go public.
Well, now that the merger is done, it looks like the combined market cap will be about 380 Million.
The two "equals", Tapimmune and Marker stockholders own about 210 Million (55%), and private stockholders own about 170 Million (45%).
The MRKR share price would have to go up to about $22 to get to a 1 Billion dollar market cap.
Gilead bought Kite for about 12 Billion.
The new Allogene is almost 3 Billion.
MRKR price should be going up higher as more fund money flows in, but even if it doubles, it would still seem kind of cheap compared to others.
Added a bit more shares Monday morning, but did so with realistic expectations. I wouldn't want to encourage anyone to put too many of their eggs in one basket based on hype or hyperbole they read.
TPIV currently has shares held by Vanguard, State Street, Blackrock, Barclays, UBS, US Bancorp, Morgan Stanley, (all giants), yep, no one has heard of TPIV?, but that will change drastically after the merger no one is also aware is happening.
Can't wait till we get that 800 Million to 1.1 Billion dollar market cap after the merger no big money players are aware of, because we know something that Vanguard, State Street, Blackrock, Barclays, UBS, US Bancorp, Morgan Stanley doesn't.
And all the giant pharma's with multi-billion dollar market caps, either never heard of TPIV's technology, or if they did, couldn't afford to buy us or Marker, right?
You know, I'm reading some say $1 or 0.65 cents soon …….. and I read others say $8, $10, $17.
What you say is mostly true - WHY would funds and INSIDERS be buying recently from as high as $6 to as low as $2.50 - if they thought is was heading to $1????????
Somebody knows something we don't.
And on top of that, there is still a large short position, which in time means "short squeeze" = price goes even higher.
I'm buying more in the morning.
UP 65% so far today.
PLEASE READ. There are algorithms out in the market that keep track of how many posts are posted on stock market discussion boards like this one and others, along with news articles, press releases, etc.
The more posts, the more the implied interest, and the higher that TPIV moves up on lists of "stocks with high interest" or "stocks that are potential movers" etc.
Even at the Investors Hub website, if you look on the main page, has a list, "Top 15 Talked About OTC Stocks".
I think that between now and the merger with Marker, if would be helpful to owners of TPIV, if we had as many posts on this board and OTHER BOARDS talking about TPIV.
The more posts, the higher the perceived interest, the more eyes that see it, the more new people investigate TPIV, the more people who see what we see as great potential, the more new buyers, the higher the price goes.
Just a suggestion for as many discussion boards as possible.
Stanford had a "supposed" 97% complete response rate with tumors in MICE. They are doing human trials for non-Hodgkin lymphoma. Don't think they hooked up with any biotech company.
Hi Eagle1,
Personally I don't short stocks for the same reason I buy and hold (mainly).
If you buy and hold the most downside you have is 100% loss, but you unlimited upside, 1000%, 8000%, like pcyc,alny,qcom owned all early.
Opposite with shorting, if your short is correct, your most upside is limited to 100% gain if the stock drops to zero, BUT your potential loss if it skyrockets up is unlimited.
To your question, a couple things.
Brokers can only let you "borrow" the shares if the broker has clients that own that stock in a margin account, they can't borrow shares from non margin accounts.
Also, us on this board would not be able to stop shorts, I read what people on this board own, 20k shares here, and 19k shares there, and 15+k shares, and we are not all with the same broker.
Also, I wouldn't do that for this reason, I take 15k shares and put a sell limit at 15 or 18 or 20, I'm going to feel awful sick if great FDA trial news comes out, I get sold at 15 and it ends the day at 25.
These shorters may be getting to us in the short term, but their day will come soon and they will be caught in a short squeeze and then we can all laugh at them as we count our $.
Also, check on the dark pool site I listed, if you see TPIV being bought in a dark pool, pile on in with them.
Part of the rise in shorts, are those same shorters, shorting more for the sole reason of keeping the price below where they will have to cover.
AN IN DEPTH ANSWER TO LEARN, if you want to follow up on your question
When 2 public companies merge, the market cap is easy because they both have established market caps.
With a private company involved it get a bit more difficult for many reasons.
Let's start with 5 things, GAAP, Goodwill, DFC, WACC, and EBITDA.
GAAP is "generally accepted accounting practices".
Goodwill is what valuation does the company place on it's "good name" and intangible assets.
For example, Boeing has a good will of 7.11% of assets or almost ONE BILLION dollars.
Fred's Floors may have goodwill of $1000.
It can be from 0 to a billion+.
And then you have DCF or "discounted cash flow", it’s more common in healthcare and bio-tech, where multi-stage DCFs to value firms based on the potential market for new drugs are more common.
Forecasted free cash flows (net income + depreciation/amortization, capital expenditures, change in working capital) are discounted to a present value using the company's "weighted average costs of capital" WACC.
The DCF method also tends to work better for more mature private companies that are sponsor/venture backed and or that have very solid comparables that you can use to calculate some of the numbers above.
What price does the private company put on their real estate assets?
How will Marker adjust many of their expenses and “normalize” them to industry-standard levels?
What is their EBITDA "earnings before interest, taxes, depreciation and amortization?
The private company’s margins may be artificially inflated because the Founder/CEO doesn’t pay himself enough (for the sake of building his/her company up).
As a private company, are there any non-standard revenue and expense recognition policies, non-business expenses being counted as business expenses, public has to use GAAP.
And there are also present and future tax considerations based on the above and GAAP.
Basically there are 2 answers to what will market cap be.
#1, You use comps or comparables to valuate.
My comps were in my first response, 442 Million to 671 Million with 535 seeming reasonable.
#2, We won't know until it's done and we know.
Hope this helps answer your question
When merger is completed and ticker symbol is MRKR, the combined market cap (depending upon some GAAP considerations) should be between the range of 442 million and 671 million.
That's a wide margin and I can't see it being higher than 671, something around 535 million would be my estimate.