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DVAX: a form 8-K after market close, an amended management continuity and severance agreement for J. Tyler Martin, the president and CMO.
http://biz.yahoo.com/e/121102/dvax8-k.
The focus seems to be that if he was terminated without cause, including a change of control, he would receive all his benefits.
I'm wondering if this is merely routine boilerplate, or potentially related to an upcoming buyout?
Just started a position earlier this week, best of luck to all.
Strong signal of a possible acquisition to my mind.
Dew or anyone else, re DVAX: a form 8-K after market close, an amended management continuity and severance agreement for J. Tyler Martin, the president and CMO.
http://biz.yahoo.com/e/121102/dvax8-k.
The focus seems to be that if he was terminated without cause, including a change of control, he would receive all his benefits.
Is this merely routine boilerplate, or potentially related to an upcoming buyout?
TIA.
FWIW: I sold my entire position in the last few days, finishing up today. I took a sizable loss, but nothing earthshaking: you win some, you lose some.
From the viewpoint of a fairly experienced investor but a total non-scientist, the company seems to have wonderful products and solid management, but damned bad luck!
This is my second loss with MNTA (my timing with this stock just sucks,) so unless it really craters, I probably won't revisit it. Too many other opportunities out there.
Best of luck to all the great people on this board.
Do people in your circle seem dumb? If so, the cause might be an unduly high level of indoor CO2:
What's next - candy is good for your teeth?
The 10b5-1 hiatus is over—director Elizabeth Stoner sold 1,000 shares yesterday:
SRPT: An article from my local paper; the Center for Gene Therapy at Nationwide Children’s Hospital is here in Columbus.
Drug showing promise with MD
Company might get an expedited approval by FDA
http://www.dispatch.com/content/stories/local/2012/10/05/drug-showing-promise-with-md.html
By Misti Crane,The Columbus Dispatch
Friday October 5, 2012 6:26 AM
Parents of boys with Duchenne muscular dystrophy now have even more reason for hope.
The company that makes an experimental drug designed to treat about 13 percent of the approximately 12,000 U.S. boys with the disease has released new results from a small but important study that shows significant benefit from the drug eteplirsen.
Dr. Jerry Mendell, director of the Center for Gene Therapy at Nationwide Children’s Hospital’s research institute, is the lead researcher on the study of 12 boys with the debilitating, and ultimately deadly, disease.
He and the company, Sarepta Therapeutics, previously shared optimistic news after observing the boys’ health about nine months into treatment with a weekly infusion of the drug.
Now, they say they have seen significant benefit after almost a year. Sarepta Therapeutics said this week that the drug increases dystrophin, a vital protein missing in boys with the genetic disorder. It also slowed progression of the disease, as measured by how far the boys could walk in six minutes.
The four boys who had the strongest dose for 48 weeks were able to walk an average of about 23 yards farther than when they began taking the drug. Those who received a placebo for 24 weeks followed by 24 weeks of treatment lost about 74 yards.
The 97-yard difference is profound in a disease that forces most boys into wheelchairs before they reach their teens.
What remains unclear is how the drug performs in the long term and whether there are side effects.
Mendell said he’s cautious about extrapolating more from the data than what is reasonable, but he suggested that signs are pointing toward increased benefit the longer patients are on the drug and more benefit when it’s started at a younger age.
And he’s grateful to be seeing something positive after decades of trying to help boys with Duchenne muscular dystrophy.
“Whoever created this disease was not very gentle with these boys ... and made every obstacle possible to make it difficult to get a clinical effect (with a treatment),” he said.
On a broader level, Mendell and company executives have said that success with eteplirsen bodes well for similar drugs designed to treat boys with other genetic variations of Duchenne muscular dystrophy.
“Any treatment that shows benefit in this condition is wonderful and amazing,” said Dr. Kenneth Silver, a pediatric neurologist with the University of Chicago and Comer Children’s Hospital. “If something like this can really reverse some of the weakness, it’s quite dramatic.”
The company plans to meet soon with the U.S. Food and Drug Administration to discuss the future of the drug. Speedy approval of eteplirsen before conducting a larger, multicenter trial is a possibility.
It’s an exception sometimes made in cases where the benefit is judged to exceed any potential risks and other unknowns that have yet to be brought to light.
Many parents have argued that this case is one in which fast approval is warranted considering that, in a matter of months, their sons could lose the ability to walk and, for now, face a certain early death.
mcrane@dispatch.com
My jest wasn't aimed at St. Jude, it was just an observation on the common message board notion that belief/hope/need & greed/"my gut tells me" and all that other tripe actually trumps rigorous scientific testing.
Skipping the minor detail that it failed the primary endpoint.
OT:
This likely trades between $1.50 (tax loss dumpage), and the higher gap ($5.00) over the next 18 months (if we're lucky). $5.00 wouldn't be bad, it's just not going to be anything of a home-run (like it would have been had they succeeded with MARQUEE ie., $15-20 stock) over the next 18 months - like I said, mainly Deadsville.
I've been thinking about it since last week when they announced that they were definitely going to do the reverse split.
I do not like the way that the whole thing was handled. Either they miscommunicated with the NYSE, flat-out didn't understand the rules & regs, or fibbed to the shareholders: none of those alternatives are good.
Another very minor concern: IMHO it is not a coincidence that Campanelli is leaving now.
I still expect this stock to be trading at a split-adjusted price of $20 next year. I think we may see a short-lived dip after the RS, I'll re-enter then.
Best of luck.
Sold out my entire positon yesterday and today for a very, very modest gain, not what I had hoped for after holding for over a year.
Best of luck to all.
FWIW: Increased my position by 20% yesterday and today. Even if this latest development turns out to mean nothing in the short term, long term it's going to pay off.
Thanks much. Last week I started a mid-sized position in TSRX.
Are you still interested in/invested in TSRX?
TIA.
I have grown to appreciate your cantor and view...
And we've got a pretty good rabbi too.
What is the downside for insiders if some investors buy shares on account of such inferences? Unless it ends up scuttling a deal—which seems highly unlikely—I don’t see any downside.
But we both asked substantially the same question and got the same answer. Plus, I know how to read, and I carefully read the applicable NYSE rules more than once. Today's close, and the average closing price for the 30 trading days prior to today, should meet the cure criteria.
I have trouble believing that FBC simply miscommunicated with the NYSE.
If the criteria was met, but the BOD decided that it was still in the best interest of the shareholders to RS, then so be it, there are many good arguments for that. But please don't tell me that they're doing a RS simply because they were not aware of the rules of the game!
On the other hand: the split is the split, it is what it is, and as I've said before, it very well may be the best thing to do. Obviously, the BOD feels that it is. So perhaps the convoluted ins and outs of why it's happening don't really matter.
It is unpleasantly unusual--not what I was told-- unless FBC literally mis-understood their earlier communications with the NYSE.
Just going to hold long-term and see what develops.
Best of luck to all.
OT: Re PPHM-
Noticing a classic pump & dump message board pattern. One by one the most notable posters are disappearing, saying that they sold out at the top or they’ve lost faith or they need a breather, or most commonly simply vanishing.
What finally remains is a few fanatic True Believers, fundamentally opposed to the concept of direct evidence, fervently and repetitively telling each other, “To the moon.”
You left out what is (IMO) the most likely explanation. If MNTA’s officers have in fact terminated their 10b5-1 plans (which is something we don’t know yet), the company is probably in discussions about being acquired.
This has already been posted on other iHub boards, but just FYI, from that website:
http://sierraworldequityreview.blogspot.com/
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FBC just announced a RS for October 10.
If you get a chance, take a look and share your thoughts. TIA.
When I perused the PPHM board, one of the prime delusional threads has been that the major errors mean that there there was a mix-up in reading out the Bavi low and high doses, but no errors regarding the control arm.
A theory to explain it all. There should not have been a discernable difference between the Bavi hi and Bavi lo groups. So, here's the theory - maybe all of the Bavi Lo group didn't get Bavi. It would explain the discrepancy between the two Bavi groups results and is consistent with a coding error that gave the wrong meds, i.e. the placebo, to some members of the Bavi lo group.
If this were true, potential partners would be pleased and the FDA still might bless a Phase III study.
PPHM: Bogus data is just a minor detail, their board now has bigger fish to fry.
Both the writing and reasoning is often hard to follow, but the hot topic seems to be a looming hostile takover from some unknown entity, probably around $55 per share, that would be countered by "Roche or Merk [sic]" at $75 per share.
As I said yesterday, one could make this stuff up but would need the assistance of mind-altering drugs. They appear to have found a dealer.
It could be the Taliban. I've heard they are making a comeback. What better way to destroy the American financial system than to sabotage the treatment assignments for bavi and send PPHM down 85%
The PPHM board and its moderators are representative of iron clad sociological arrays that are worthy of a PHD dissertation or at least a Malcolm Gladwell frisk.
HE/SHE BOUGHT THESE SHARES $5.45. IS IT NOT EXTRANGE?
Extranger things have happened.
This is the only glimmer of hope in this hole mess.
Just try to dig your way out.
Both Ecomike and I spoke to Brad and confirmed that the cure period runs until this Friday, Sepember 28, the last trading day of this month.
If Friday's closing price is at least $1 and it had an average closing price of at least $1 for the 30 trading-day period ending on Friday, we are good.
However, even though they will not be compelled by the need to cure a listing deficiency, the BOD may still decide to do a RS. There are many good reasons for this and many good reasons against it. Either way we're going to be fine, and I trust that the BOD understands FBC's internal dynamics and the general financial market dynamics better than I do and will make the appropriate decision.
The latter point is probably my biggest complaint about the Yahoo boards in general. Besides all the uncivilized, gratuitous nastiness, most of the posters there pretend to know everything but in reality know nothing.
Re Yahoo board: Yesterday, I tried one last time--for at least the third time--to explain as simply as I could, using as many small words as I could, the actual NYSE rule and the actual FBC situation.
It seems to make absolutely no difference, there are a few posters determined to post misinformation: "needs 30 days in a row over $1", "needs 10 days over $1", etc., etc.
Finished with that nonsense.
Re PPHM:
Never good to see people lose tons of money. But if this plays out as expected, we'll soon be heartened by emerging stories from the longs who sold for large profits late last week.
I had a really bad feeling after the last conference call. I covered my cost basis but I should have been smarter and taken some profit.
I deleted an important post at 3:50 am in a stooper one morning. I was on a roll. I did put it back but I was a loose cannon I guess.
You always loose when you're in a stooper.
Wait, wait, don't start the contest yet, here's a late-breaking entry from just a few minutes ago: #msg-79860673
If bavi has real value and I think it does, they should sell the company for $10.00 a share.
Are you suggesting that when "confidence is oozing from the voices of executives" it's not an automatic buy signal?
Shocking.
Well those poor souls just got an 85-90% haircut...gotta feel for them a little and conspiracy theories will run amuck..lol
One PPHM poster's logical conclusion, "I wouldn't rule out sabotage."
For some people, the extent that belief can trump evidence is just amazing.
I'm going to respectfully disagree about the looseness of the NYSE delisting regulations: they are not. If FBC did not meet the actual mathematical criteria, they would have to do a reverse split.
However, it appears that that is not going to happen. And most importantly, we both agree that FBC is solid, established, reputable and moving forward, and I think your 2013 target is quite realistic.
Best of luck!
The NAZ uses 30 business days, the IRS 30 calendar days, the NYSE very deliberately uses 30 trading-day period which is actually even more specific than the phrase "30 trading days."
Knock yourself out, my friend, but it's clear enough for me.