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RE "I believe you will soon be able to file that away in the same propaganda folder as the "there won't be a reverse split".
LOL - yeah, and kind of like Lyttle saying "not in talks to sell a single share of stock" or
"2007 should be a great year for Peregrine" or
"exciting results" or
"we're in talks with interested parties".
There's a long list. Always BS.
For anyone excited about "exosomes", it will turn out the same as everything else PPHM talked about glowingly. at some point they just stop talking about it, and we know what that means.
RE "Ronin has ALREADY said it is worthless"
Back that up with a REAL quote from Ronin!
Ronin never said "worthless".
You are NOT posting facts.
RE "10x Avid sales. "
LOL! chances of that happening are 0.00000000.
2 X sales , maybe If 1. it was actually going to grow, which we now have evidence to the contrary, and 2. If they could make a reasonable profit which we have no data for.
RE "If Ronin wants Avid so badly, he should make an offer to buy it. Let's start at 10-12x earnings?? "
UH, Avid doesn't have any earnings!
12 X 0 = ZERO. I assume you're hoping for more.
PPHM ONLY reports GROSS profit which is basically meaningless.
to know NET profit, it would have to be accounted for as a standalone business, and it's not.
RE "I want a new team but do not like the Ronin approach so far. "
Unfortunately you don't get a vote on their approach.
You get to vote for the further destruction of your investment with the do nothing team of slimy losers, or Ronin. Ronin has made the stock go up.
That's all that matters.
Investors want stewards of a company that foster a gaining stock price.
Ronin passes that test, while PPHM has failed miserably.
It's really that simple.
RE "PS Targeting"
Anyone can point to "research" that shows reasons to believe PS Targeting may have some use in the future, HOWEVER the current team and PPHM has failed COMPLETELY to bring any value to it. And we're talking 12-14 YEARS of absolute failure and endless dilution.
Ronin is pointing out the facts.
They don't say "Bavi is worthless". They say it has failed - TRUE.
They say the current path of endless dilution to do more trails is not good for shareholder value - TRUE
They say they WANT to monetize it for shareholder benefit.
Those than claim Ronin is trying to say Bavi is worthless and that they will scrap it aren't reading the full context of Ronin's letters.
RE "investors will not want Bavi development thrown out"
No worries, Investors WILL want Ronin to monetize it (as Ronin's 1st letter stated) for the best deal they can get rather than the current teams dilution into oblivion path.
RE "if you are a BP do you do a deal with the current group ASAP (knowing any deal will come under scrutiny of the potential incoming BOD) or wait for a qualified mgmt team?"
Maybe there aren't any BP's interested.
They've got hundreds of drug candidates to evaluate.
Why focus on one that's failed time after time after time when they are so many with REAL ACTUAL data that shows they work.
Some people that are close to Bavi believe strongly in the potential of Bavi, BUT for someone looking on objectively at Bavi and 100 other drugs, Bavi is not going to get attention. Too many bigger fish to fry.
RE "there is more to this story"
Perhaps, but the most important thing is that PPHM shareholder value has been destroyed by a management team of incompetent losers and slimy BoD
to say the least. There have been more mistakes and failures than can be listed! The abusive dilution has been unforgivable. The current team has ZERO credibility. Change has been desperately needed for YEARS! Ronin are the ones stepping up to do it. I'm not aware of an option #3.
It's more of the same or Ronin. EASY choice.
Wanting the current team to remain would be complete insanity, and a financial death wish.
Awesome letter from Ronin!
Here's a great sentence:
"Any attempts by the incumbents to delay the upcoming annual meeting, further enrich themselves or engage in a material transaction without stockholder approval will not be tolerated"
In other words, they are ready to take any legal action needed to protect their investment for the good of all shareholders.
Also:
"We look forward to disrupting the culture of entrenchment".
These guys are fantastic.
Long long long overdue to bring some sanity to this poorly run cash burning dilution machine called PPHM!
RE "2018 Objectives...Determine the optimal path forward for bavituximab"
Wow, that's a lofty goal for 2018!
.......Think about what to do next.....
Is a mere year enough for that? Maybe a couple years and a hundred million more share worth of dilution?
Maybe the useless BoD can sit there and watch smoke come out of Sk's ears?
These guys can't be serious.
Seriously? Think about what's next? That's on a corporate objectives statement? You can't make this insanity up!
Please, bring out the guillotine already.
RE "Will be interesting to see if PPHM fights Ronin on the proxy"
We can only hope that Ronin will start MULTIPLE LEGAL actions should they not get their nominees up for a shareholder vote.
I hope Ronin makes their heads spin with lawsuits.
RE "280,000 shares of PPHM are needed to be sold via ATM at the current share price to sustain the BOD salaries. We get diluted by that much each year just to pay Johnson/Swartz/Pohl."
Or in 2009 terms that's 9.8 MILLION SHARES!!!!!
RE "Don't they have to first get on the ballot?"
PR read to me like they would be - "Announces Nomination of Gregory P. Sargen, Brian W. Scanlan and Saiid Zarrabian for Election at Upcoming 2017 Annual Meeting"
If PPHM can keep them from being on a ballot, then shareholders truly have no recourse whatsoever from being raped by corporate boards who only care about their self interests. All that can be done is sell the stock into nothingness - which is about what's happened so far with the history of PPHM.
I'm not an expert on corporate bylaws and know they differ from state to state and also know that Delaware is the WORST.
RE "finances were GREAT. "
FACT1 - Avid has been around for at least 15 YEARS!
FACT2 - It's still barely a "micro-cap" business.
FACT3 - it is not predicted by PPHM to grow next year.
FACT4 - expansion plans have been HALTED!
FACT5 - We don't even know if could turn a NET profit!
FACT6 - it relies on a couple customers which can go elsewhere and destroy Avid.
Sorry, there is ZERO great about that.
RE "doubt all three make it on the ballot"
Wouldn't it be a case of "vote the white proxy card"
Or "vote the blue proxy card".
One slate or the other?
RE "Poison Pill must stay"
FACT: poison pill purpose it to ENTRENCH current management/Bod.
It is NOT to protect the shareholder!
Poison pill forces a would acquirer to negotiate with current management/BoD RATHER than the shareholders!
Management/BoD has PROVEN that they are out for their self interests and do not care about the shareholders.
Who would you rather have a potential acquirer deal with - You and the rest of shareholders or PPHM management/BoD who probably do not even tell you there is a proposed deal or what the deal was!
PPHM does not care about the shareholder interests, therefore a poison pill can only hurt not help your investment!
https://en.wikipedia.org/wiki/Shareholder_rights_plan
"to prevent takeover bidders from negotiating a price for sale of shares directly with shareholders, and instead forcing the bidder to negotiate with the board."
RE "If Ronin does NOT get their BOD members in, do they dump their shares
and send this a tankin? "
Exactly.
RE "Ronin won't get the chance Loof...."
Why? Because the current powers at PPHM know shareholders will vote the Ronin group in and the current powers would be out so they'll do a deal prior to that point in time where they'll get some really good exit packages???
RE "Connect the dots"
Lots of talk about Ronin, BUT fortunately we don't need to connect any dots with the current team of PPHM's management/Bod. We all know what a horrible group they are that presided over the complete destruction of shareholder value for more than a decade! They do next to nothing and enriched themselves for it while allowing unending and abusive dilution to their shareholder. What they've done is not only inexcusable, immoral, and possible criminal. They have abused the system to their selfish advantage.
There is ZERO excuse or justification for the things they have done.
ANY alternative is better - ANY!
To try and predict what Ronin may or may not is pointless.
To try and paint a negative picture of them when there is nothing but a positive history makes no sense. Especially when we know for a fact what they current team has done.
TRACK RECORD.......not "dot connecting" is what matters.
RE "How do we guarantee if we put it BP hands for small up front fee with royalties they don't just put it on the shelf? "
If Bavi truly has potential you can count on BP's greed keeping it off the shelf. If it doesn't have potential is really doesn't matter.
RE "Dr. Garnick could purchase the entire company at its current market cap if he so wished"
Yup, AND any BP/BB that thought Bavi was really something could have bought it for their petty cash AND yet........no interest.
And if PPHM rebuffed them all they had to do was go public and get the support of shareholder.......but......no interest.
There's no conspiracy to suppress Bavi/PPHM. Anyone that believed it worked could have bought it already. Truth is there's ZERO human data that has BP/BB interested in Bavi. It's a competitive industry like every other, and PPHM/Bavi is penny-anti player with unimpressive results.
RE "Predictions of doom have been overdone."
You're right, I guess it takes a 98% loss of ownership stake thru endless and abusive dilution, not a "mere" 90% loss of ownership stake thru endless and abusive dilution to earn the label of "doom".
To each their own of course.
I wouldn't put anything beyond these sleazy operators!
Just remember, if Ronin loses this battle they sell and move on and that will absolutely destroy the share price.
Like it or not from a shareholder value perspective, Ronin must win.
Voting against Ronin is like tossing half your shares in the fireplace, which would be really stupid considering PPHM has taken away 34/35th of them since 2009!
RE "AVID is a bright shiny object"
Hardly!
In fact Avid has been around since at least 2002!
http://ir.peregrineinc.com/releasedetail.cfm?ReleaseID=266244
That's at least 15 YEARS and still barely a MICRO-cap business.
Pathetic. That's supposed to be SK's great accomplishment?
Care to compare how much CASH Avid drained out of shareholders via shares worth of dilution compared to how much cash has been created (NET profit)?
It's NOT pretty I'm sure.
RE "not provided any details about their plan"
Monetize the IP.
End abusive dilution. That's a darn good start!
Any plan is better than fail at everything and dilute shareholders into oblivion while raping the corporate treasury as has been done for far too long.
Question for anyone that truly understands how corporate bylaws work:
Can PPHM or the board increase the size of the BoD from the current 4 to 7 before this years vote? If that's possible, then Ronins 3 can make it in but still be a minority of the new total 7. Which would still neutralize Ronin efforts to save shareholders from these abusers. I'm hoping this can't happen, but always try and understand reality.
RE "AZN lists the AZN-PPHM "Partnership" on their 5-2017 brochure. So, is AZN "unbelievable" too"
Doesn't matter what's on a web page.
What matters is what's happening.
And we know. Absolutely nothing in ~2 years.
RE "who is really giving away the IP"
That's an easy one.
Given the dilution that occurred since Bavi started being played with around 2004, PPHM's management/BoD have sacrificed OVER 90% of the shareholders stake in Bavi via abusive and unending dilution.
What do shareholders have to show for the ~90% LOSS of their stake in Bavi?
~90% of the potential value of the IP - GONE from shareholders over that time.
Worse yet, that number gets worse all the time.
So, PHHM has squandered the Potential value of the IP.
What's Ronin going to do? Worse case, they only got the last 10% to screw up, but their track record says they'll do far better with it than the current team of losers.
1. AZ deal died and was swept under the rug like everything else.
a. No news in ~2 years since announcement.
b. Read the filing where PPHM says they want to re-engage with AZ.
2. Pre-clinical is meaningless to "proving value"
That's been proven 100 times.
RE "The Ronin letter AFTER the Reverse Split (not before where it could have kept us from a reverse split).
LOL! so Ronin was responsible for making PPHM get to $1, not PPHM management? You're kidding I hope!
Ronin is a shareholder, they don't run the company.
What about PPHM's plan to avoid the reverse split?
They said they had plans.
But we all know the only plan was to beg NASDAQ which was simply a delay of the reverse split which most of us knew all along would happen.
NASDAQ sees through their BS and wasn't having it.
RE "How much is a drug worth that increases ORR by 200-300% on many indications of SOC?"
irrelevant since PPHM has not proven they have such a drug.
RE "value of all assets."
Their letter was spot on. the so called "assets" haven't proven to have much "value". Getting the "assets" into the hands of some entity with the expertise and resources to try and demonstrate that there is value while NOT diluting shareholders further into oblivion is a darn good plan.
What kind of deal can they get? Doesn't matter - shop around and take the best deal. The market is what the market is. Anything is only worth what someone else is willing to pay.
What's the alternative? Stick with the current plan and team?
That has already destroyed the potential value to shareholders od the so called "assets" thru the endless dilution. Remember, a billion dollar market cap now equals about 63 cents per share to shareholders from 2009 and before.
RE "I'm skeptical that Ronin is being an honest broker regarding our IP. "
Not the point of most significance.
What is significant is how Ronin's 3 potential directors compare to the 3 self serving bloodsuckers that have presided over the long term extreme destruction of shareholder value. And that is a no brainer!
RE "How are those biosimilars' progressing"
Probably about as well as exosomes and Cotara and everything else this company claimed had potential but really didn't.
These guys are really good at thinking up angles that are nothing more than endless justifications for the dilution that keeps their paychecks flowing.
RE "I would venture to bet that Mr. King is not the problem"
lol - There's more than 1 problem at PPHM.
King is definitely 1 of them - although maybe not the worst problem.
Listen to Fridays CC, and if we weren't already reminded 100 times before, King is NOT in any way CEO material.
RE "Steve King has been repeatedly stating that PPHM is undervalued"
Yes, and yet the stock has been in a down spiral for many many years.
So has he been dead wrong or just completely incompetent to correct the perceived undervaluation?
Really doesn't matter. Either way, and for 100 other reasons, he and the rest of this complete loser team need to go. Should have happened many years ago!
The really really sick thing is, let's assume for a second that Bavi may help some people in some circumstances. How many have died that didn't need to die because the self serving people wouldn't do a deal to put it in the hands of an entity with superior expertise, experience, personal, and financial resources? How many!? That's the most evil part of all the miserable history of PPHM. Even worse than the abusive destructive dilution to shareholders.
Leadership at PPHM can't disappear soon enough.
RE "The future is combo therapy that stimulate the immune system"
Yes, and PPHM has how much successful human data on that with Bavi?
Oh, ZERO! Which gives it the same value as every other unproven drug candidate. There's no "big money" deal coming for Bavi.
Best that can be hoped for is a deal where someone else pays for trials and if (big if) that goes well, PPHM gets some kind of milestone payment or revenue percentage later.
Don't get me wrong, I think that is possible and looks like what Ronin wants rather than endless dilution for PPHM to try and advance it themselves. But there's a huge difference between that and expecting some big money up front deal which simply is not realistic.
One thing is certain. Ronin is far more motivated to make that happen than the current proven team of self serving idiots in charge.
RE "with the value PPHM holds"
Value?
Do you mean the imagined value as opposed the the proven value?
RE "the real numbers as $28 per share is really $4 pre split"
I know you've been around since 2009.
You've missed a reverse split!
$28 (in the 1 in a million shot of actually getting there)
would be 80 cents to 2009 and before shareholders.
35 is the magic number for the TWO reverse splits since 2009.
Divide by 35 to get true share price.
Multiply by 35 to get true share count.
Exciting to think that if PPHM is wildly successful and achieves a BILLION dollar market cap, shareholder from 2009 and in 2009 terms will have huge success of ...........drum roll please.......~63 pennies per share!
Oh wait, that's a loss actually.