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LR, You are not wasting your time. We need to be held to the proper standards.
And the Wall Street Journal has an article on superbugs this am.
http://www.wsj.com/articles/fda-issues-warning-on-medical-device-after-superbug-outbreak-1424383322?mod=djem10point
Yup, we start the 30 day clock all over. Nice purchase of $OPK shares by Frost and pps now over $14 again.
My sideways thinking is that Frost purchases of any reasonable quantity, given how much of the shares are already insider controlled, may be enough to start $OPK on mini-runs upward.
Midas, Nice article. Thanks for posting.
MediciNova Provides Update on Clinical Trial of MN-166 (Ibudilast) in ALS
February 16, 2015 18:00 ET | Source: MediciNova, Inc.
LA JOLLA, Calif., Feb. 16, 2015 (GLOBE NEWSWIRE) -- MediciNova, Inc., a biopharmaceutical company traded on the NASDAQ Global Market (Nasdaq:MNOV) and the JASDAQ Market of the Tokyo Stock Exchange (Code Number:4875), today announced that the ongoing clinical trial of MN-166 (ibudilast) in amyotrophic lateral sclerosis (ALS) has enrolled 30 of the 60 subjects planned for participation.
The trial is a randomized, double-blind, placebo-controlled study which includes a six-month treatment period followed by a six-month open-label extension. The study is evaluating several efficacy endpoints including functional activity (ALSFRS-R), respiratory function, muscle strength, and non-invasive ventilation (NIV) utilization in addition to monitoring the safety and tolerability of MN-166 60 mg/day versus placebo when administered in combination with riluzole in subjects with ALS. The principal investigator of the study is Benjamin Rix Brooks, MD, Director, Carolinas Neuromuscular/ALS-MDA Center at Carolinas HealthCare System Neurosciences Institute in Charlotte, NC.
Yuichi Iwaki, MD, PhD, President and Chief Executive Officer of MediciNova, Inc., commented, "We are extremely pleased to have completed 50% enrollment in this study during the first four months. ALS clinical trials can be difficult to enroll, but we have the continued support of the CDC (U.S. Centers for Disease Control and Prevention) to spread awareness of our trial to ALS patients. We look forward to providing further updates as the study moves forward."
- See more at: http://globenewswire.com/news-release/2015/02/16/706743/10120219/en/MediciNova-Provides-Update-on-Clinical-Trial-of-MN-166-Ibudilast-in-ALS.html#sthash.UGeXrIPN.dpuf
http://globenewswire.com/news-release/2015/02/16/706743/10120219/en/MediciNova-Provides-Update-on-Clinical-Trial-of-MN-166-Ibudilast-in-ALS.html
Gov, Not a problem in my lights. I didn't vet the numbers either. We both just were trying to pass along a relevant post on CTIX.
Gov, That was posted on the 10th and Loanranger took me to task because he disagreed with the numbers shown for shares sold short.
George, I've seen no news. EOM
All very good points on Frost and $OPK. No wonder you and I are in so many stocks together!
Now, Hey, what do I actually know? My wife will tell you I'm full of hot air.
Only time will tell what happens to the price and whether we are going to be in a deal for all of $OPK, whether $OPK will roll up some of the other medical units in which it and/or Frost own major components (as it did when we both were in Prolor), or if $OPK will be selling or licensing another major component to Pfizer or some other major pharma.
But GLTAL!!!
Gingi, That sounds rational, but I would further postulate that any funds which dumped shares in which they were long were happy with the recent surge in price and expected to possibly get back in after a drop. Thus, it could have been the SAME funds selling at $14+ who bought back in at $13.10+.
Game, Could well be and he has paid whatever is required to amass more shares. He has been buying for what seems like hundreds of years, but he HAS periodically backed off at peaks in price.
BTW, have you noticed that the bashers who were constantly denigrating $OPK seem to have entirely gone silent?
Just an observation and speculation: Frost's last open market purchase was at $11.77. The pps did not drop that low today, but the theory that he was going to perhaps resume purchases when the price drops should result in a Frost purchase if we get that low. Sounds like it might be assumed to be something of a prop under the price.
While this is again wild speculation on my part, it is something to watch for, as is the passage of time since his last 2/3/15 open market purchase.
Seems to be moving back up. Will be interesting to watch.
I finally looked at the expiration date of the warrants exercised by Steven Rubin in buying OPK. Expiration was in 2017, so they probably were in no rush either.
Add a reason 4 to my list of yesterday of why to exercise warrants/options:
4. OPK needed some cash in it's coffers, perhaps to show more financial strength, and having Frost, Rubin and Hsaio exercise warrants put more money in OPKs cash pile. Remember, they also sold some shares at market at the same time, so the effect of warrant exercise on them individually was nearly cash neutral. OPK also did not have to make accounting allowances (mark to market) for the value of the warrants on their books. Another accounting benefit.
OK, that sounds like what one can do at Fidelity.
Stone,
Certainly the news (from September 2014) was one reason to be enthusiastic about $OPK, among many others. However, that was in September - five months ago - and the exercise of options was when?
They could legitimately have exercised the options right after the news had been released and I wonder whether there is ANY restriction on exercising options at all. I mean, it's not like an open market purchase.
Thanks. I just hope no one assumes I know anything about what's afoot at $OPK, because I don't. I suspect someone can come up with some other possibilities.
Game,
Well, how about the following conjectures:
1. Exercise so shares are in account and can be shorted against as a hedge.[color=red][/color]
2. Haven't checked, but were the options about to expire? I admit I'm too lazy to check. No reason not to exercise options in the money.
3. This is wildly conjectural: They were asked by Frost to exercise the options to create significant buzz and expectations on an imminent action about to take place to drive up the price. That way, any "premium" to be offered over the price of the shares by an acquirer will be higher or calculated from a higher base.
I think there has been considerable conjecture, what with the surge of articles in recent days about Frost companies OPK, COCP, CDXC ad PGLC, that there is a current push to drive prices up in many of his stocks. Is there a transaction about to take place? I surely do not know.
Fun,
Clearly, I do not know the TD Ameritrade system, but in Fidelity I only HAVE TO choose Market vs Limit for a buy, and the default for conditions is "none." If I want, I can do "fill or kill" or "all or none," but I don't have to. Why not test and see if you can set an order for tomorrow with no conditions set.
The other possibility is you really should consider just transferring your account to Fidelity lock, stock and (bourbon) barrel.
GL
Stone and Gingi, Yes, it's all good. EOM
Fun, If you really want the shares but still set a limit price, why not remove the "all or none" designation? Yes, there is a commission due the broker each day you buy shares, but it's not like you are buying a 15 cent stock. Yes, you could buy 10 shares for $15 and owe a $7.95 commission (Fidelity), but hopefully you will get more.
Stone, My bad for not checking your number.
47k means 47 thousand. I should have checked. Your link leads to NASDAQ, which says 14.9 days to cover. It is a large enough number that, as long as it is not insiders hedging against an existing long position, could propel the $OPK stock significantly higher.
If it were me doing a naked short (BTW, I have not shorted a stock since about 1974-75) and the pps went up to $20 I would be sweating bullets.
Institutional ownership:
Institutional Ownership 89.97%
Total Shares Outstanding (millions) 36
Total Value of Holdings (millions) $1,264
Active Positions
Holders Shares
Increased Positions 76 6,571,380
Decreased Positions 40 1,341,599
Held Positions 12 24,904,708
Total Institutional Shares 128 32,817,687
New and Sold Out Positions
Total ActiveSharesNew/SoldShares0M5M-5M10M
Holders Shares
New Positions 35 1,833,110
Sold Out Positions 12 204,556
http://www.nasdaq.com/symbol/cmrx/institutional-holdings
Read more: http://www.nasdaq.com/symbol/cmrx/institutional-holdings#ixzz3RZVktMJr
Read more: http://www.nasdaq.com/symbol/cmrx/institutional-holdings#ixzz3RZVBfqDX
Schills, A short covering is just another buy. Helps push the price up. EDIT: BTW, if your figure of 47k shares short is correct, that amounts to almost no shorts. Ten minutes of trading volume (todays at least) to cover.
Stone, It's still just nine days since his last purchase, so please don't too excited yet over a big deal involving $OPK.
Pure wild tongue-in-cheek speculation: If you really want to get your depends on, consider that Frost has not purchased ANY of his various stocks since 2/3/2015. Is Frost going to roll them all into one entity on 3/3/2015?
Financials:
http://finance.yahoo.com/q/is?s=nnab
Gingi, IMHO, Frost does not need to sign any documents to make the filing. Someone is simply filing this electronically.
Even if he did need to be the one signing, he could simply sign at any time BEFORE sundown Friday and then one of the minions at ROX presses the button later. It could be in the morning or the day before when he signs.
Al,
Yes, I'm long a fair number of shares for this "lottery ticket", do not trade in and out and am not happy with management's lack of transparency. They seem to have the vision, but it's questionable whether they have the competence to carry through on all the disparate programs (crystals, 3D printing, 3D monitors) they are pursuing. While it also gives them a cost advantage to produce their crystals in China, we know many manufacturers sharing their IP in China end up having to compete with vendors using their stolen IP. I would be looking for trustworthy entities with which to partner the 3D stuff.
Sorry I couldn't respond yesterday, as I ran out of posts.
Fun, I'm in the camp of holding my shares regardless of a great or not so great earnings report. ROX has a future that will be reached incrementally and that future will be a good one. Okaly knows little or nothing and is just guessing.
BTW, you can download the full research report if you go in through the link I provided. Brian Marckx, the analyst, projects a target share price of $2.00
The report runs 17 pages and is far more detailed than what I posted.
Not trying to be argumentative, as that's not my style.... but playing Devil's Advocate....
We don't even know if he is still working as a physical therapist (if I recall correctly). He may also have a family and they have to eat. The Boston area is not cheap to live in.
http://finance.yahoo.com/news/zms-v-lawsuit-resolution-opens-210000040.html
ZMS.V: Lawsuit Resolution Opens Up Inflection Opportunity in 2015
Zacks Small Cap Research
By Zacks Small Cap Research 1 hour ago
By Brian Marckx, CFA
OTC:ZMSPF
TSX:ZMS.V
Resolution of lawsuit, significant development progress bodes well for revenue inflection in 2015
By several measures 2014 was a disappointing year for Zecotek (ZMS.V) (ZMSPF). This was particularly true from an income statement standpoint which suffered from delays in recognizing order revenue, product introductions being pushed back and elevated legal expenses. Despite $2.0 million in orders placed by Hamamatsu since the end of fiscal 2013, Zecotek recognized only about $200k in 2014. We do not expect a repeat in fiscal 2015.
We think a major hindrance to order fulfillment, as well as consummation of a supply agreement with CERN, was the outstanding lawsuit with Philips / St. Gobain. The lawsuit was settled in late December. And while terms were not disclosed, language in the press release indicates that a “business relationship” between Zecotek and Philips may have been part of the settlement. As we have discussed since initiating coverage of the company in late 2013, we felt Zecotek had a position of strength in the action against Philips and St. Gobain as a result of precedent from similar scintillation crystal lawsuits which were ruled in favor of the patent infringement claimant.
What, if anything, was awarded to Zecotek from settlement of the lawsuit we do not know. We think it is a reasonable assumption however, that Zecotek would not have agreed to settle if Philips intended to continue to purchase crystals from St. Gobain and St. Gobain intended to continue to supply them. Using that logic, it is also not unreasonable to assume that it is possible (probable?) a supply agreement between Zecotek and Philips was a part of (or the heart of) the settlement. In fact just days after announcement of the lawsuit settlement, Zecotek announced a new $500k crystals order for use in a next-gen Time-of-Flight PET (TOF) scanner.
We think another issue that may have been created while the lawsuit was ongoing was potential hesitance from other would-be customers to purchase the LFS crystals from Zecotek given the ambiguity over the related patent. So now with lawsuit settled, we think order flow and order fulfillment will increase and improve overall. We expect Zecotek will begin to recognize a significant portion of the $2.5 million orders-to-date (includes the aforementioned $2M order from Hamamatsu plus $500k from the TOF customer) over the near-term.
And we continue to view Zecotek’s crystals as ultra-competitive in the PET scanner space. The company has indicated that they are seeing demand from both the human PET scanner industry as well as pharmaceutical research. And the fact that orders were placed for a TOF machine, which are high-end scanners and require the highest performance components, speaks to the quality of the LFS crystals. In addition to quality and performance, Zecotek has the advantage of low cost production via its Chinese partner BOET. So we continue to view their potential customer base as not just the deep-pocketed major domestic OEMs but also overseas manufacturers including those in emerging markets where industry research expects particularly rapid growth in the PET scanner space.
And while Zecotek has had an ongoing relationship with CERN, which has been validating the crystals for potential use in the rebuild of the Large Hadron Collider, the organization has yet to place a significant order. We also expect this to change for the better with the lawsuit now settled. In early December ZMS announced that a new configuration of their LFS crystals was requested by CERN for their Compact Muon Solenoid (CMS) experiment and that a supply agreement with CERN should be consummated in early 2015. Based on our understanding, this remains the expectation and, as such, we expect a formal announcement will be forthcoming. The language in the recent press release also mentions that Zecotek has been working with BOET in order to fulfill the supply agreement – which we think may suggest discussions regarding increasing production capacity – which we would view as another positive sign.
Product development continues on Zecotek’s other PET components including their MAPD and IDM. The company expects to showcase their next-gen MAPD (“MAPD-3N”) in April which we think could also potentially commercially launch during the year. And although we do not foresee a commercial introduction of the IDM in 2015, we think a launch the following year, assuming development continues on-track, is a fair estimate. The IDM, as we have explained in prior reports, combines the LFS crystals, an array of their MAPD photo detectors and a readout system into a single assembly for use in PET and gamma scanners. PET manufacturers are trending towards plug-and-play capability in building their scanners but this is largely not available today. Therefore a high-performance IDM could see strong demand from OEMs.
And Zecotek has another shot on goal – which could begin to materialize during 2015. That being products from their Display segment and, in particular, glasses-free 3D display. While the company had initially focused their 3D technology on the consumer TV space, Zecotek now believes there are greater opportunities elsewhere. Our recent discussions with our contacts has revealed that the company may make a meaningful announcement in the near-term related to their focused pursuits with their 3D technology – which we eagerly await to hear more about.
And as it related to 3D printing, which is another endeavor in the Display segment, the company has indicated that they think they may have a commercially-viable product within the coming months. As a reminder, over the last few quarters Zecotek began designing a 3D interface platform between 3D printers and their 3D display technology as well as developing their own 3D printer. The interface would allow someone to see a 3D image of an object prior to actually printing it on a 3D printer. The user would be able to view the object from all angles and make any desired adjustments before they printed it, affording time, cost and materials savings. Relative to a 3D printer, Zecotek is working with their long-time contracting partner LT-Pyrkal (Armenia) in designing a compact, high speed and more efficient printer than the 3D printers currently on the market. Development has progressed fairly rapidly and as early as May 2014 the initial design for a 3D processing module was completed. Testing began in July and, as noted, the company expects to have a working unit sometime in 2015.
With the rapid growth in popularity of 3D printing, this could be another high-potential opportunity for Zecotek's 3D display technology. The company envisions initially subcontracting production of the 3D display units for the 3D printer application and then potentially partnering for wider distribution.
Our updated Outlook
We have updated our financial model and outlook since the resolution of the lawsuit which, as we have explained above, we think will open up order flow and fulfillment and provides Zecotek with significantly greater opportunity for new customer wins. We look for a significant increase in the rate of recognition of the outstanding portion of the $2.5 million in orders over the near-term. We also incorporate the assumption that crystals orders that St. Gobain had been getting that infringed ZMS’s 7,132,060 patent now go to Zecotek – which obviously includes orders from Philips.
CERN order flow had also been relatively minimal but, again, based on resolution of the lawsuit, we think this now accelerates and contributes during the current year. And while it's still too early to speculate on specific quantities that CERN may order from Zecotek, we think that it's reasonable that it could eventually be in the several million dollars to potentially tens of millions of dollars worth of product.
We also think there are other revenue opportunities that may materialize in the current year that we have not modeled. These could encompass licensing deals with either the Imaging and / or Display business products and patents.
In terms of operating expenses, we expect to see a substantial reduction in professional fees in (which aggregated to over $3.8 million in 2014) as a result of conclusion of the lawsuit. While we think R&D may remain elevated with ongoing development of various products, we look for improvement in operating loss with a ramp in revenue.
We are maintaining our Outperform rating and $2.00/share price target. We continue to think the shares remain highly undervalued with the delay in recognition of the Hamamatsu order and CERN supply agreement putting downward pressure on the stock price and offering an attractive entry point. With the lawsuit now resolved, we think revenue growth steepens significantly. See below for free access to our updated report on Zecotek.
http://www.microcapdaily.com/cellceutix-corp-otcmktsctix-goes-higher/18966/
Cellceutix Corp (OTCMKTS:CTIX) is trading higher in recent days and continues to consolidate well. The stock was recently the subject of a short attack led by 2 misleading Seeking Alpha articles momentarily dropped the stock under $3. Over the past few years CTIX has seen a spectacular rise from pennies to a high of $4.93 transforming itself to one of the top traded stocks on the bb’s.
According to available information CTIX had 1.2 million shares short around November 28, a number that increased to a staggering 5.9 million shares short by December 15. The massive increase in the short position is timed perfectly for the false and misleading articles from Seeking Alpha who has lately become known for trying to manipulate stocks such as their shameless promotion of Facebook.
Instead of a successful short, distort and destroy the 5.9 million shares short on CTIX may soon need to cover en mass creating a massive short squeeze that could blow CTIX into a whole new stratosphere.
CTIX is one of those legendary stories that we love to report on; it all comes back to Cellceutix chief scientific officer, Dr. Krishna Menon; the man is a real whiz; he played key roles in developing two blockbuster cancer drugs; Gemzar and Alimta for Eli Lilly & Co.(NYSE:LLY) back in the late 90’s.
For CTIX he developed Kevetrin which is currently in Phase 1 clinical trial at Harvard Cancer Centers’ Dana Farber Cancer Institute. Kevetrin is successful in regulating the p53 pathway that has long been the holy grail of cancer research and big pharma. Industry leaders spent hundreds of millions of dollars trying to achieve what Dr. Krishna Menon has achieved with Kevetrin.
Cellceutix Corp (OTCMKTS:CTIX) is a clinical stage biopharmaceutical company located in Beverly, Massachusetts developing innovative therapies in oncology, dermatology and antimicrobial applications.
CTIX flagship is Brilacidin, a new class of antibiotics called defensin-mimetics, which are modeled after host defense proteins. These are the “front line” of defense in the human immune system and mange suggest Brilacidin could rival Cubist’s (NASDAQ:CBST) Daptomycin as the antibiotic of primary choice.
CTIX announced today that the U.S. Food and Drug Administration (FDA) has granted Qualified Infectious Disease Product (QIDP) designation for Brilacidin as a new treatment for Acute Bacterial Skin and Skin Structure Infections (ABSSSI) ahead of its meeting this month with Cellceutix regarding Cellceutix’s planned Phase 3 trial of Brilacidin for ABSSSI. Brilacidin, the Company’s lead drug in a new class of antibiotics called defensin-mimetics, completed a Phase 2b trial in September showing, amongst other things, a single dose of Brilacidin to be as effective in treatment of ABSSSI as a FDA-approved seven-day dosing regimen of daptomycin.
Just published:
http://www.hotstocked.com/article/89224/cocrystal-pharma-inc-otcbb-cocp-explodes-to-new.html
Yesterday the stock of Corcrystal Pharma inc (OTCBB:COCP, COCP message board) opened just above 50 cents per share but less than an hour later it had already climbed to its new 52-week high of $0.67. Although such highs proved to be a bit too much the ticker kept most of its gains and closed over 26% in the green at $0.62. Interest in the stock also increased significantly with the daily volume of 2.3 million shares surpassing the one from the previous session by more than 4 times. The impressive performance was not supported by anything immediately obvious so the question is – will COCP manage to keep the momentum going?
If it were any other pharmaceutical OTC company the answer would probably be rather sceptical but with COCP things are a little different. In our previous articles we have often mentioned the outstanding management team of the company. Initially Cocrystal was backed by none other than Dr. Phillip Frost and COCP received strategic investments from both Teva Pharmaceutical Industries Ltd (ADR)(NYSE:TEVA) and OPKO Health Inc. (NYSE:OPK).
Last November, however, COCP merged with the private biotechnology company RFS Pharma, LCC. founded by Dr. Raymond Schinazi. If you are not familiar with the name let’s just say that so far Dr. Schinazi has been quite successful with his biotechnology ventures – among the companies he founded Idenix Pharmaceuticals was acquired by Merck & Co., Inc. (NYSE:MRK) for $3.85 billion in 2014, Pharmasset Inc. was acquired by Gilead Sciences, Inc. (NASDAQ:GILD) in 2012 for 11.4 billion and Triangle Pharmaceuticals was acquired in 2003 by Gilead for $464 million.
If this was not enough COCP have also announced that the Nobel-prize winner Dr. Roger Kornberg will be appointed as the Chief Scientific Officer.
Yesterday Cocrystal submitted an 8-K form that contained the consolidated balance sheet of the surviving entity after the merger and the number are not that bad:
$3.1 million cash
$6 million total current assets
$8.6 million total current liabilities
$121 thousand revenues
$6 million loss from operations
Investors shouldn’t forget that on March 3 a vote will be held and if it passes the authorized shares of the company will increase from 200 million to 800 million. If the increase is approved the outstanding preferred shares of the company will automatically be converted into common shares. This means that the 1 million preferred A shares will become 340 million common shares while the 1 million preferred B stock will turn into 205 million common shares. With 122 million currently outstanding shares the O/S of COCP after the conversion will be around 647 million shares. The dilution is undoubtedly significant but it is important to note that the majority of the newly issued shares will be owned by Dr. Schinazi and Dr. Frost.
COCP remains a risky bet, however, as they are just starting the lengthy process towards commercialization of their drug candidates. With years of clinical studies ahead of them any investment in the stock should be preceded by extensive due diligence and careful planning.
Fun, Do you really expect a straight answer from him?
We all keep looking. COCP is so stingy about releasing any information.
Perhaps Elliot needed that much to afford an apartment around Boston and so he didn't eat Leo out of house and home.
Said somewhat tongue in cheek. Seriously $150k is not very much ... unless one only makes $50k.
Thank you for posting, George and Harmsen.
Dub, Completely agree that the lack of information on what is going on is impeding people from investing or investing more. Right now, I suspect you could not buy many shares even if you doubled the bid amount. I just don't think many shares are out there to buy.
Right now it is strictly a lottery ticket.