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"I have never seen such lack of leadership before"
Then you haven't been around Peregrine very long.
Bravo!
That's not the case with the Peregrine trial. The bavituximab study was unblinded in December 2011. When the survival data were presented on Sept. 7, the company had 9 months of follow up at a minimum (and this assumes that all patients enrolled on the last day of the trial, which obviously didn't happen.)
So post the "true" unblinded information again please. I'd like to be proven wrong. Thanks.
Unaudited, you know it doesn't work that way. When something is at 5.50 and opens at $4 you have more confidence in buying then when it opens at $1.50. When something is "transported" down to $1.50 you will not buy without good reason to do so...unless you're reckless, of course. I mean really!
Demand access to their records regarding talks with Big Pharma. If you shareholders find nothing then what would you think?
<<So instead, NASDAQ has come up with an auction approach called the opening cross. Here's how it works. In the morning, a computer program looks at all the orders that have come in overnight in each different stock. Based on those orders, the program picks a price level that would be the best opening price. However, it also looks to see if there's a trade imbalance. For example, if a company announced bad news after the market closed, there might be 10 times more sell orders than buy orders.
NASDAQ then broadcasts the price and imbalance information to its network of dealers with the goal of offsetting the imbalance. It then lets dealers place orders. This all happens very quickly, in a time window of two minutes or so, right before the market opens. Dealers can place orders, and those orders are factored into the opening price.
Using all of the orders that have accumulated overnight -- along with the dealer orders that come in to offset imbalances -- the computer system sets the opening price, and that's the price that the stock opens at when the clock strikes 9:30 a.m. NASDAQ designed this system with the goal of giving traders what it thinks is the fairest opening price for each stock.>>
You see, they didn't allow the auction process to occur, instead "management" created panic. I'm not saying it wouldn't have been ugly, especially with no pr issued to put a little doubt in the air, but it wouldn't have been so ugly.
You also have to remember that they knew of this as early as Wednesday. The proper thing to do would've been to release the news on Thursday or Friday, and most certainly, no later than Friday night.
In the words of CEO King - Oops!
I mean really! That you actually think "management" was trying to somehow protect shareholders and that a 75% teleportation (great description, btw) is in any way acceptable, is just beyond! There's reason you won't get a pr today either...It's because they don't care and their banker buddies want to make sure every last cent is recouped in the scheme.
-Shareholders locked out of decision making process (can't even sell their own shares)
-No cc before black Monday's bell to help out (as a matter of fact they made it as ugly as possible)
-No subsequent cc or pr
-No cc or pr about Cotara
-No cc about bringing in a 3rd party to unravel the mess
-No cc about any kind of arbitrage
-No pr about not using the ATM
JUST DEAD SILENCE...The Peregrine way
You will see .40 before these clowns come out with any news, and when they do, it won't be good, imo.
Yes. You should really think about what you wrote.
Well, you guys like numbers. Figure out how many people would still be holding after a 500% gain.
Yes I do. 10 years of King in talks with Big Pharma and a hundreds of other lies that I just don't even have the time to write down. All you have to do is look back through the pr's over the last two decades. Include Dios and so many others. That doesn't even include the layers of lies by Techniclone.
Nor the BOD lies with four other failed companies. Wake up!
Most of those ATM share where sold with "managements" permission to somebody/ies at $1.50 or less. Most of them sold at $3+. That's quite a gain!
Are you telling me you have information that those that bought the ATM share are still holding? Doubt that very much.
Like what? Please do tell. I think most of you guys are here on this board to squeeze every last dollar out of gullible investors.
"Management" allowed shareholders to lose 80% of their worth by locking them out of trading early Monday morning. Meanwhile they apparently knew about the bad data 4 days plus before. That's all you really should need to know.
One more time. The data was purposely tainted so "management" could take advantage and say survival was looking good. There were no physical bodies dancing in the hallways, nor hugs and kisses from patients saying "I'm still here!" King & Co. read a tape...a bad tape at that..and for the only purpose of getting the share price to $5.
Now whether they got caught prematurely is another story.
Just imo, of course.
Simple answer -For the first time in the company's history "management" says that the cc will be at headquarters. Why? Because they wanted to con you into believing you were all one big happy family and champagne would be flowing.
But not anymore.
You STILL don't get it do you. There is no MOS survival to come. Patients did not live longer. It was an exaggeration based on a lie created by schemesters.
Yes, I'm certain that's why they came out and said that last Monday before the bell. Please, give it a rest.
Here's what I know about the eventual outcome. If King and Swartz are involved it will not be a good one...For shareholders.
A real investigation would be asking:
What was Garnick's motivation /incentive for joining with Peregrine?
Who was responsible for having King speak at Chicago?
Who chose the third party and were they possibly tripped up?
Were the ATM shares being steered to certain buyers - Who?
What information did the $30mm loan rely on and who did the bank consult with anyone?
When did King notify market makers to prepare?
Many others too.
Are you people really going to let "management" slip out of this one?
Not one of these suing law firms will ever even try to connect the dots to uncover the scam. That's the true tragedy. America...She's a goner.
I've seen it before where they take it for one last ride before shutting the doors or selling the company for pennies. Perhaps Bavi does work, and it was brought to this point by you poor shareholders, and now the BIg Boys will take over...For nothing, of course. Thank you very much. Dios.
Let me just get this straight: You're all okay with "management" forcing a 80% loss of shareholder value by not having a cc before the bell that Monday morning...Even knowing what we know now...the timing and so on?
People sue all the time it doesn't mean they are in the right. Anyone can sue anyone. This is a diversion, imo, to pass the blame. Where was the oversight? Johnson and all the other PPHM lawyers live for this stuff. How can you detect a problem and launch a suit on the same day? Maybe a settlement is how they figure on getting next years salary, who knows. Nothing good here, imo. Why aren't they talking about survivors at this point? Why did they go out of their way to trash shareholders without a cc Monday am before the bell? They already had all the information they needed, it appears.
The company needs to step up and describe these survivors and whether patients continue to survive. Presumably there is some physical interaction / followup with these 12+ month survivors and not just some data driven hypothesis.
Anyone care to elaborate?
BP gonna make this all go away, I can feel it.
Probably buy them for a couple of bucks and we'll never know what really occurred. Never!
The stock market is a filthy with criminals.
Oh boy, here comes the ATM again. Horrible.
Find out where those ATM shares went. Follow the money people.
Good points. If they really did deceive the investment community they'll try to bury the company, imo.
Ok yes but that MUST be provided in the initial data. It's absolutely outrageous that it wasn't. Is it just Peregrine or do others omit this too?
The stock is only churning between mm's to ease the pain. This way they'll all take a little hit rather than devastating a few mm's. I've seen this kind of action before on the way to down.
SO what are you saying that the FDA set up "Gold Standard" trials in a way that if a guy doesn't show up that means he's probably in the ground or sitting on a beach somewhere? That's no standard at all!
Good question. Who's makes the "Censoring" decisions?
Who's in on it do you think. Garnick and Thorpe too? Follow the money.
I recall FiduciaryDoozy saying "management" would abandon all activities and start fresh with this new imaging product /story. Then start the cycle all over again.
Yep. And probably better security at the hotel.
Not one word here about "Censoring" issue. Fascinating.
Because maybe they thought they'd make money down the road...maybe.
Peregrine Pharma: Cash Crisis and Exaggerated Survival Benefit
http://www.thestreet.com/story/11720253/2/peregrine-pharma-cash-crisis-and-exaggerated-survival-benefit.html
The usuals on this board are smart and organized and should doggedly be calling /writing in complaints to the SEC and FBI, imo. At least this way you have a chance of really understanding just what happened.
What would've been best for stockholders is an announcement of a conference call along with the faulty data pr, *pre market* on Monday morning. They did not do that. Instead they sat and watched their shareholders lose 80% of gains. Even if they could not comment on the actual issue they could've shed more light on the other trials or said something really positive about Cotara or Avid. They did not do a thing.