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George,
COCP could be chocolates or perhaps Bertie Bott's Every Flavour Beans, from the Harry Potter movies, including enticing flavors but also possible vomit and booger flavors, as Dumbledore had expounded.
http://harrypotter.wikia.com/wiki/Bertie_Bott%27s_Every_Flavour_Beans
I am certainly hoping for, say, a nice hazlenut chocolate myself.
Steve
George, Good to hear from you. Glad you're still here at COCP. Steve
Would be nice if we had some transparency about what is being done and what specifically he and Rajah are doing. OTOH, $150k is nothing in the context of a CEO salary; something like the bottom percentile of executive salaries.
Yes, I see what you mean. Shall we say a bit aggressive valuation? I'd be delighted if they could sell this company for a reasonable price.
Seems a number to question, for sure. Will have to use computer in am. Type too small on damn phone.
Where, specifically? On phone. Can't search. Was it perhaps $185,000?
COCP 8K/A just filed
http://biz.yahoo.com/e/150209/cocp8-k_a.html
Then one of us is redundant!
You are right on all counts! And yes, I am hoping for a big fat buyout at some point. In no rush, especially with the recent price performance.
Frost has periodically backed off on buying when the price has spiked. While I agree with now invest that the last listed purchase was on the 3rd, five or six days absence from buying does not mean there is a transaction in the works. Besides, he has purchased no other stocks in that time either:
http://openinsider.com/insider/Frost-Phillip-Md-Et-Al/898860
Glad you posted that. I had intended to listen to NPR all morning to catch the story, but somehow missed it.
It was a very good segment on Sci Fri. I just try to listen to the program each Friday I can, and when they mentioned this new device, I listened more closely. Good mention of $OPK.
Article on why CMRX withdrew from Ebola testing:
Why Chimerix stopped its Ebola program in Liberia
Feb 6, 2015, 9:49am EST
Durham drug developer Chimerix (NASDAQ: CMRX) decided to discontinue a program to test its lead product against the Ebola virus in Liberia – and really, that's a good thing.
Basically, Chimerix pulled out because there are no more new patients on which to test the drug.
Over the last several weeks the number of new cases of confirmed Ebola Virus Disease in Liberia has decreased significantly, with only a handful of patients still enrolled in a test of the experimental Chimerix drug called brincidofovir in EVD patients.
Chimerix spokesman Joseph Schepers says Chimerix reached the decision after discussions with the U.S. Food and Drug Administration and other federal agencies and "against the backdrop of a rapidly diminishing pool of patients with Ebola Virus Disease in Liberia."
Indeed, USA Today reported Thursday that President Obama is all but ending the U.S. military mission to Liberia to fight Ebola next month, as infection rates there fall to near zero.
"The progress in controlling the Ebola outbreak in Liberia is to be commended," said Dr. M. Michelle Berrey, Chimerix president and CEO. "Chimerix will continue to push forward with our development of brincidofovir for the prevention and treatment of serious viral infections in transplant recipients and other immunocompromised patients."
Chimerix is testing brincidofovir for the prevention of cytomegalovirus (CMV) in adult hematopoietic cell transplant (HCT) recipients. In addition, Chimerix is enrolling the Phase 3 AdVise trial of brincidofovir for treatment of adenovirus (AdV) infection.
Jason deBruyn covers the biopharmaceutical and health care industries. Follow him on Twitter @jasondebruyn.
http://www.bizjournals.com/triangle/news/2015/02/06/why-chimerix-stopped-its-ebolaprogram-in-liberia.html?ana=yahoo
Just added my comments to the article:
Mr. Bleak Street,
As someone who is long CTIX, I have to admit that this piece appears to have taken more thought than the piece of fluff you published earlier, castigating CTIX management for it's description of furniture it acquired from the bankrupt Polymedix.
It HAS been a matter of much discussion, among longs, about which exchange CTIX might qualify for and when, and some longs express frustration with Leo Ehrlich mentioning uplisting a number of times, without it having happened yet.
However, I firmly believe uplisting is far less important than the stunningly successful progress CTIX has made on the science of Brilicidin, Kevetrin and Prurisol. Advances in the science, moving the drugs along step by step, is what will ultimately lead to a partnership with one or more large pharma companies. Uplisting will happen in due time. I have faith in CTIX management.
Oh, and have you even attempted to speak with Leo about uplisting and his plans?
Just heard on Science Friday (NPR) "OPKO Health" mentioned as the commercial partner on the new quick smartphone attached dongle device for testing for any blood borne disease. Being tested in Rwanda now.
Good PR. And yes I realize there was a release earlier this week. Short mention of OPK but nice segment on the device and the $34 dongle. Testing for proteins, small molecules, DNA, RNA etc.
Go $OPK
GLTU as well, here at $OPK and elsewhere. We have at least one more stock in common. EDIT: make that two stocks.
Gingi,
Right, I seem to recall our having just that conversation at that time. We had been discussing why Frost had not been making purchases and speculating as to the reason.
I am long and strong $OPK and it represents our second largest family holding.
When Frost fails to make purchases for nearly a month, that's when a major transaction will take place.
Now,
I would be happy if OPK was added to the S&P 500, however this may take some time to happen, if at all. If I recall correctly, S&P only makes this sort of change, swapping one company out for another, once or twice a year. An exception would be if a stock is delisted or acquired by another company and they immediately need a replacement.
Just my opinion.
Good luck to you too. Holding tight to my shares here.
MilesT,
See, the water was just fine. You'll get used to the goosebumps here at NNAB
I respectfully disagree. An automatic plan is only for sale of shares. Also, all of the numbers of shares and dollar amounts are different. That is not the hallmark of an automatic plan.
EDIT: On the other hand, I can agree that there is short covering.
Now, I would be delighted to be wrong and let Pfizer or TEVA or whoever buy my shares at a high price! I've been long in OPK as long as you have. LOL.
It's just that if Frost has any material information about a pending deal, I believe he has to refrain from trading in the security for 30 days prior to an announcement about the deal. Or is it 90 days?
The recency of his purchases would seem to argue that there is no deal pending.
Blown Income,
No. If Frost were entertaining an offer for OPK he would not be trading the stock - which he did as recently as February 3rd. He would back off from buying for at least 30 days. I seriously doubt anyone would consider a hostile bid either, as Frost has control locked up.
Agreed. No surprises, although it will be interesting to see what approach they take when they do raise funds.
I believe he stated last year he would be leaving the TEVA board somewhat after retiring as Chairman.
So, clearly, as with a early-stage biotechs, it is buyer beware and invest only what you can afford to lose.
From the 10q:
As the Company pursues licensing additional nanotechnology, the Company has cut development costs of its Nano Efflux Pump Inhibitors during the next 12 months to approximately $50,000 and development and testing costs of its nanoantibiotic compound to approximately $25,000. We estimate licensing costs to approximate $75,000. Of the technologies we are presently reviewing, and if we were to license the technology, the expected development costs for next the 12 months would be approximately $500,000. As of December 31, 2014, the Company's available funds are not sufficient to fund its activities for the next 12 months.
We have incurred $129,481 of operating expenses for the six months ended December 31, 2014. Prior to inception, the Company's compounds were composed and formulated by researchers at Kard, a preclinical contract research organization founded by our President Rajah Menon in 2002 and of which Mr. Menon is its principal shareholder, who then conducted in-vitro studies. On October 3, 2013, Kard and Mr. Menon assigned all of their rights, formulations, and all studies and data related to efflux pump antibiotics to the Company. We are now engaged in organizational activities and sourcing technology to license. We anticipate incurring other costs associated with equipment purchases and general and administrative expenses, including employee salaries and benefits, legal expenses, and other costs associated with an early stage, publicly-traded company.
The amounts that we actually spend for any specific purpose may vary significantly, and will depend on a number of factors including, but not limited to, the pace of progress of our research and development, market conditions, and our ability to qualify vendors. In addition, we may use a portion of any net proceeds to acquire complementary compounds. We will have significant discretion in the use of any net proceeds. Investors will be relying on the judgment of our management regarding the application of the proceeds of any sale of our Common Stock.
Requirement for Additional Capital
The Company has engaged in limited research and development activities. We currently do not have sufficient funds to meet our planned drug development for the next twelve (12) months and we may not be able to obtain the necessary financing on terms and conditions acceptable to the Company. Assuming that we are successful in raising additional financing, we plan to incur the following expenses over the next twelve (12) months:
? Research and Development of $575,000, which includes planned costs for its nano efflux pump inhibitor of $75,000 and an additional $500,000 if we were to license technology we are presently reviewing;
? Corporate overhead of $100,000, which includes budgeted legal, accounting and other costs expected to be incurred;
? Licensing and Capital costs of $100,000, which $75,000 is budgeted for acquiring a nanotechnology license, and $25,000 is the estimated cost for equipment to be deployed at vendor sites to be selected; and
? Officer and Staffing costs of $180,000.
The Company had approximately $288,100 of cash on hand at December 31, 2014 and will be unable to proceed with its planned drug development, meet its administrative expense requirements, capital costs, or staffing costs without obtaining additional net financing of approximately $600,000 to meet its budget.
The Company has limited experience with pharmaceutical drug development. As such these budget estimates may not be accurate. In addition, the actual work to be performed is not known at this time, other than a broad outline, as is normal with any scientific work. As further work is performed, additional work may become necessary or change in plans or workload may occur. Such changes may have an adverse impact on our estimated budget. Such changes may also have an adverse impact on our projected timeline of drug development.
Management intends to use capital and debt financing, as required, to fund the Company's operations. There can be no assurance that the Company will be able to obtain the additional capital resources necessary to fund its anticipated obligations for the next twelve (12) months.
Quarterly 10q filed.
http://biz.yahoo.com/e/150205/nnab10-q.html
Cabel,
You know there are many people who can't see that which is obvious. For much of my career, I had to couch data in forms which made a conclusion obvious to those who were oblivious.
Rule, Thank you. Glad to have a bit of confirmation that I'm not delusional ... except for thinking my stocks will go up.
Cit, Thanks for posting this!
I'll take a wild stab at a couple possible reasons:
1. The stock hasn't changed hands, so the last quote and change from the last quoted close remains up there. I get that from Fidelity.
2. The other is if the symbol has changed, for example from CTH.V to CTH.T, IF it had changed from the Vancouver to Toronto exchanges.
You also might ask this question on the board at Stockhouse.
I know I'm just trading the CYNAF "shares" in the US, so what do I know?
Speculation follows: Well, if in fact KARD ended up licensing to NNAB it's antibiotic portfolio which CT** had declined at the time (if I am following what BigKahuna said accurately) then NNAB does have drugs it is working on.
MilesT, come on in, the waters fine. Gators still asleep.
Has there been any computation of: (1) how extensive the high content sample is: and (2) how much this and other new drill results bumps up reserves?
Dane,
Yup, that's the idea.
Lesson. Get in early and dump on the excitement?
Ebuilder,
I tried to head off the debate and I thought we both had made clear that anything we were saying was sheer speculation. Oh well....
There will always be someone who misconstrues what is said, even with a disclaimer. That is the problem with taking what someone says literally, even when most people can detect the snark in what was said.
It was a lot of wasted bandwidth.
Just so we choke off debate about something which did not happen, here is a repeat of a post regarding NNAB from the CT** board:
BigKahuna Wednesday, 02/04/15 08:31:57 AM
Re: JUST 10-11-12 post# 90284
Post # of 90323
We must not confuse KARD Scientific with CTIX. KARD is a CRO as well as research and development company whose founder and lead researcher was Krishna Menon the same person who founded and is President of CTIX. At one point, all of the drugs developed by KARD ultimately were licensed to CTIX. Some examples include Prurisol and Kevetrin as well as KM 391 and KM 277. Rajah Menon, the president and director of NNAB, is listed as a founder of KARD Scientific.
When Rajah Menon and Elliot Ehrlich founded NNAB, CTIX's officers say CTIX had no interest in antibiotics, so KARD's various licenses for antibiotics went to NNAB. In the meantime, according to Leo and Krishna Menon, Elliot and Rajah learned of Polymedix demise and the action for its IP by the bankruptcy trustee. NNAB was not in a position to acquire all of Polymedix and so they took the opportunity to their fathers at CTIX. The successful stalking horse bid became what we refer to today as the Polyheist.
Bottom line, NNAB licensed its preclinical antibiotic candidates to NNAB when CTIX was itself struggling to get Prurisol and Kevetrin into clinical stage development.
That's why "on the internet, no one knows you're a dog," to quote the old New Yorker cartoon.
People may not credit bulletin boards like IHub for having much of an impact on trading. However, it is clear that a single post - not viewed in the context of an entire conversation or with accompanying DD - can cause knee-jerk reactions. I guess it's an adaptation of "fight or flight."
That's why certain posters can cause such a kerfuffle when they make flat out statements of thus and such as a "fact." We've seen lots of examples of this on another IHub board.
I'm sure he didn't; pure speculation/flight of fancy. Would not be appropriate for them to do so, absent a fair exchange.
Just a thought: would RPX want to entertain an offer directly from MARA for their shares of SPEX?