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We probably only have money for two more quarters and now the sharks will smell blood since we have set a precendent.
Some folks simply don't understand that sometimes even though you have a better mousetrap it never is successful. So far science has been great and we are at near all time lows and mgmt still refuses to put their own money into the company. Sometimes you have to look at all the facts.
That would work for me although I would like to see them buy at least 100K shares each with their own money so they would really have an incentive to do something and they have enough options right now that would make them rich so they don't need anymore until the stock reaches 5 then they could start awarding themselves options again. I also think at some point someone has to be held accountable for these financings be it ES or the CFO. I would also like to see the return of a PR/IR firm such as Gendel. Not answering or acknowledging legitimate questions from people you know are shareholders is just unacceptable. All imo.
Jake, It seems so obvious that imo it can't be anything other than intentional. You couldn't get worst results if you tried to. We are now doing pipes just like we did in the past after all this time. Now everybody knows we are desperate and will need cash every two months (maybe except mgmt! LOL!) I don't know how anybody can justify their actions. If they release 20 PR's and then still had to do the financing at 1.11 I would be able to handle it. But no attempt is fishy. Like I said before I don't wish bad things on people but Karma has a way of making things right. If they are pulling a fast one, then I hope it applies to everyone who is involved and their families as they are affecting all of ours and all of the sick families who could use a cure. All imo.
Regardless of all the possible scenarios it still does not explain why mgmt did not release viable PR's and hire a PR firm.
Not saying the price would have gone up but what good does it do to not release it? Why in the world would you have an in house PR/IR firm that has no contacts and alienates its own shareholders?
Things mgmt have control of and their corrosponding actions are still mind boggling. Hiring Carlton Johnson, keeping Paul Lytle, not hiring a PR firm not adding to the board, selective PR's. These are all things that in my opinion can be justified and definitely would not do any damage to the stock. The point remains besides his legacy what does ES bring to this company if he can't come up with better deals for the company? All imo.
I have called and emailed mgmt and IR numerous times and gave my phone number, name, address and amount of shares I had and not once have they returned my call or answered my emails so get off your high horse and charade! If they don't have enough character to answer you one on one then in my opinion they must
think what they are doing is wrong.
How can you possibly justify the latest financing deal? All imo.
Since there was no real reason or plan giving for the recent 6 million share placement at 52 week lows I guess we can assume 1 or 2 scenarios.
1. Mgmt had to or wanted to do this shady financing deal at 52 week lows even though it had just been over $2 a couple of months ago. Mind you I didn't say what they did was illegal.
2. Our CFO and mgmt team have no foresight or business sense to see that they burn about 7 to 9 million dollars a quarter and may have to sell some shares so when the stock was at 2.50 they don't even think about selling 6 million shares. Instead they wait till it gets to 1.25 to sell shares at "only 19%" discount. Now even if we are supposed to believe that they were blindsided and didn't know they needed money, they still chose not to release any Press Releases that we all agreed could have been released and they could have hired a PR firm to increase the stock price.
So which scenario applies?
I think it is comical that they want to reach new institutions when they don't hire a PR firm and intentional did not put the stock at $5 when they did the RS.
Where else can a CFO continually make deals that cost the company millions of dollars more than once and still keep his job.
The waiting of three months for this financing deal cost the company over 6 million dollars! Six months ago we were around 2.50 for quite a long time. All imo.
PPHM now has Jay Carlson listed as a contact person in their recent press release. Perhaps, you could direct your concerns about studies and study value to Jay, as he has demonstrated good familiarity with the method of operation of Bavi and Cotara that would give insights to PPHM's trial designs?
LOL! Yeah lets email IR and wait till we get an answer! Why don't we have a real PR/IR firm.
The point is lets at least create some value for the company and concentrate on making money first instead of running more trials, diluting shareholders while you are making ridiculous deals at 52 week lows?
What is your take on the great financing deal? IR will not answer. I asked how with a board member whose expertise is in financing could sell 9% of the company at a what amounts till a 50% discount from months ago and use a IB who has a target on us at $10 to sell shares at $1.11. Since mgmt refuses to explain maybe you can do it for them?
How do you justify not putting out all the possible PR's that were listed while you just saw them sneak one in today. All imo.
I may have been frustrated because of the lack of news like many, but if I see the news being used at the right moment and in our advantage after holidays period then I have no problem with it.
Maybe mgmt thinks like you but the intelligent person would have wanted to use news to increase the stock price so they wouldn't have to sell 9% of the company at 52 week lows and we would not be sitting here at $1.27.
Burying another piece of PR into another PR continues mgmts mysterious motives. Why bury that into another PR and why release it now? I guarantee they are aware of what gets posted here. I really don't know how they sleep at night. I really hope Karma catches up with these guys and their families.
I would gladly take it all back if they release something tomorrow but it sure does not look like. The question still remails why sell the shares now?
We are now less than one month from the fourth quarter and our meeting with the FDA and less than four months from SK's statement of commercial product in 2012. Lets see if it is even mentioned tomorrow.All imo.
Geo, all I did was put out some info. No where did I say they are doing anything illegal. I'm just saying that it seems kind of peculiar don't you think so? All imo.
Johnny, All kidding aside, your post should be put on the IHUB front page along with RRdog. There is honestly no disputing that mgmt did not PR these events yet did a fininacing at 52 week lows and did not even attempt to drive the price higher. If there ever was objectivity from the moderators I don't see why the excerpts would not be. Is there any dispute? We spent over .5 million in fees but couldn't spend 10K for each PR which would have raise the price. Let's really be objective here. Let mgmt know we are pissed and watching them. Let them know everybody sees their actions and questions it. Let them see how ridiculous it looks in black and white. If they give a legitimate reason than we could take it down. If they needed money then they really did not try to raise the price of the stock with legitimate PR's. They PR dog and pony shows for crying out loud. All imo.
Everybody should at least bookmark this post and send it to mgmt. It really is amazing and this is only counting the last few months. I know I have it stored for future use.
Here is the recap:
- New Nature article highlighting Bavi as promising HCV candidate with quote from Thorpe
- New Immunolgy article highlighting Bavi
- Prostate Cancer Bavi Trial is now recruiting on ClinicalTrials gov site
- A new 3rd party Abstract highlighting PS as a viable cancer target
- New Patent - no PR
- Thorpe Presentation Aug 7 - 9 (i think those were the dates)
- 8-2011: Short UTSW Article Highlights 3-2011 $4.6mm CPRIT Award to UTSW’s Drs. Philip Thorpe…
- Imaging Conference this week - No PR
Are you kidding me? Because we should't do deals at 52 week lows and we shouldn't be at $1.35, $1.5 or 1.75. Until we get past the reverse split price there is no success from mgmt. Get real! BTW we had much higher prices without institution support. If mgmt really wanted the support they would have did the RS at $10. I'm sure people remember the debate as to why they didn't make it at least $5 for institutions. Yep same mistakes over and over again or do they have an agenda? All imo?
Clearly Dart has connected the dots in ways most people on this Board have not
Lets hope he does a better job this time around of connecting the dots than last year. So far he is down around 20% for connecting his dots.
Do the math. Dart did not double down. Talk about misleading! I'm glad he bought more though. We will see how much he owns. For all we know he could have sold some shares at 2.5 and these are actually freebies for him.
successful people don't often double down
Maybe that explains why mgmt will not put more of their own money into their own company. They are not successful? All imo.
Huh? PPHM down 2.36%, Dow 0.90%, Nasdaq 0.26%. Once again PPHM tumbles more than the market. I wished it went with the "ebb of the flow" of the market as per our leader. We would only be down 5% instead of about 50 percent! All imo.
What's really suspect now, though, are the brand new posters here.
One of them wouldn't be our oversea poster would it?:)
OMG! We are still posting about job listings LOL!.
The current share price and the fact that the best our mgmt team could do is 9% of the company at a 52 week low and near 10 year lows! The kicker is they used Roth who has a $10 target and had to work real hard getting us a deal at $1.11. LOL!
You really saw a mad rush to get in at these bargain prices. Even mgmt is buying in at these prices no?
If our data is good and things are rosy then mgmt really does have a big problem on its hand. All imo.
geo, you have no idea what I or anybody else has done or is trying to do about mgmt and I certainly am not going to discuss it over a message board.
We all know they need money and so does the whole world.
The question is why do they always get the least amount for their dollar. Go look back on their history. This is not the first time they have done this crap and it will not be the last probably.
How do they stick around after this neglicence. Their track record indicates they do not have a plan as this has been a pattern.
I am not going to sit quitely on a message board and have the same posters post over and over again that we just have to wait 6 more months or that the board has a plan, they must have good news since they only did a little etc...........
The point is they have done this over and over again and we need more people to be outraged at this crap while the board is probably laughing while they collect their salaries, fees and options while dragging everything out.
They can control things that can immediately affect the stock price and they refuse to do it. They can add to the board, name a new COB, CFO and a new PR. At the very least they should have to answer shareholders questions! All imo.
Of course it is! No is disputing it. The question is why why why? How do you sell six million shares at the lowest it has been in 52 weeks? It is not like it has been at 1.25 for a year! These guys have no clue how to maximize value and they stay in their little vacuum and refuse to listen and or answer to shareholders. I can deal with the dilution if they lay out exactly what it is being used for not in general terms such as for trials. This is not the first time they have done this and it should not be acceptable. The stock was at 2.5 in April for crying out loud. To say they merely gave a 19% discount is ridiculous. It is practically a 50% discount and now the street knows mgmt is in a panic mode. This is precisely why data and science has not moved the stock price. Two months of funding is not going to stop the short sellling. The only good thing is they will have to face the shareholders with their fake smiles at the shareholders meetin.
There is absolutely know doubt they wouldn't have done worse if they had a real PR firm, COB and a CFO who knew what the hell he was doing and if you don't agree with that then you can't be a real shareholder. All imo.
Moaning and groaning here is pointless. Man up, make your choice.
Some people do not like to take it in the you know what all the time! Give it a break already. You don't have to take it. The BOD works for the shareholders. Regardless if they need dilution or not you don't keep doing it at 52 week lows and live to tell about it! Where is their foresight?
A new PR firm, a COB and a CFO would have got shareholders more money for the buck. Mgmt still doesn't do it and they should at least have the courtesy and courage to take questions from shareholders be it on a CC or IR and explain why. You may be use to being shafted but some of us are not and will not go down quitely. All imo.
Fortunately this move is unrelated to the success or failure of the clinical trials
You know this how? It sure looks like the trials aren't going well. Other companies do secondary offerings at higher prices not 52 week lows.
Finally a reverse split would narrow liquidity even more and create a REAL shortage of shares in case news is announced and result in exponential rise.
LOL! We already did a reverse split and you see how much the shortage of shares help!
The question is why they didn't set the price above $5 so more institutions would have been able to buy. Of course people said it was not a big deal back then either.
Just to refresh we made a deal at 22 cents after all this data and time. Yep, this mgmt team deserves more time and if we replace them it would really slow things down! Ridiculous. All imo.
So mgmt put out a PR knowing before hand that they were going to hit it hard with the ATM.
I still don't understand why mgmt didn't PR all the other stuff such as Thorpes presentations etc.... to get more bang for the ATM yet they go ahead and sell shares at a 52 week low?
I hope they do know that it would have been cheaper to pay for the PR then the financing?
Maybe they are selling all these shares at the 52 week low to not upset the FDA LOL! After all isn't that the reason everyone was trying to portray for the silence.
I think es knows the mkt IS going to tank this year and wanted pphm to have cash...
That is the funniest thing I heard. Yeah ES believes that. If that is the case he should have done enough for the year!
This is the mgmt that refuses to do PR's, hire a PR firm yet allows essentially a pipe at a 52 week low. They really have foresight.
This is at least the second time our CFO and mgmt have done huge financings at or near all time lows! In spite of this people still want to let them keep their jobs and vote for their incentive plans. Makes you wonder how smart the majority of the population is. All imo.
Now we know why mgmt didn't put their own money at risk the question is will they ever? Now would be a good time to start!
...>>>Phase III development for bavituximab and Cotara will, of course, require considerable cash resources. CEO Steve King expects that the company will be in a good position for partnering at the start of 2012. Peregrine aims to license ex-U.S. rights and commercialize the drug on its own in the U.S.<<<
Unfortunatley whatever mgmts says means nothing as has been proven in their past and current own words!
Remember the trials will be enrolled in "coming weeks", we are "in talks", we will not "sell shares at these prices".
Until they actually do something for the shareholders and not for themselves it means absolutely nothing!
If true, a company or investor could gobble of this whole company in a few weeks. All imo.
If it was good news it would be reported before the market on Monday. They have reported before market on Thursdays and Fridays before with no good news. Then again I can't recall any positive CC's regardless of when they are held. It is just a matter of how many broken promises and delays are announce as usual. Unless of course they announce a new COB a new PR firm.....
Two things they control and they appointed Carlton Johnson as COB and got rid of Barbara. That should tell you all there is to know about their interests. All imo.
We need to know this why? You were claiming steals at $2 before the reverse split!
You would think mgmt would explain exactly hey are using the money for to their shareholders and what we can expect to happen shortly.
How is the coming weeks coming for enrollment completion? We will change that for coming months?
Maybe the deal had to be made just to pay for all those recent hires and consultants who are adding value to our company! LOL!
No need for a PR firm or PR's or a COB to increase the value of your stock so you can make a deal. Nope, just sell at 1.11, 1.11 1.11. It is just so ridiculous it is hard to really think this is possible except this is not the first time they have done this. How do other companies sell massive shares at prices at a premium?
As a consequence they must have guaranteed a higher pps after the deal for the 1.11$ investment to become something worth and become a pay-off.
20% (1.33$) is no pay-off! Who said pocket money again. So a pay-off would be that they say this is going 3, 4 or 5 and you buy them at 1.11$
They already shorted it at 1.70 or probalby higher they already made money! Get real!
Anybody who still thinks our mgmt team and CFO are inept needs to have their head examine.
Let's see we were near 2 just a while back and we sell shares at 1.11? What the hell are these guys doing? Yeah we must have some real good data coming. If we did people would be lining up to gobble up shares at 2, 3 5 dollars.
I can't wait for the long diatribes and buying opportunities.
If this is the best ES and our CFO could do they should bought be let go of their duties immediately.
Now the street will really smell blood. They now know the company is desperate. They will short any run knowing the company needs money. Now we know why the last two runs were immediately killed. It was our financing shorts. Just ridiculous.
You are absoulutely right it would be wise if a mgmt team did that.
I guess it would be like not just depending on a govt contract to fund you, or no delay in trials, or ATM shares, or having a backup financing plan. I'm sure our mgmt team has one!
What happens if you only check in once every 5 or 10 years? LOL!
Of course! LOL! It doesn't matter you said 6 months only 6 months ago! Rinse and Repeat with no accountability. I guess you have as much credibility and forecasting talent as mgmt. Have fun licking your cone!
Don't worry, according to posters we are actually saving money by waiting as it will be cheaper for an IB the longer we wait! Lets see 17 million shares times possibly $1 or more. LOL!
If we have blowout lung cancer trials, by this time next year, there may be no shares outstanding - Peregrine may be inside the bowels of some big pharma.
Now we are waiting another 12 months? Again it shouldn't and doesn't have to be all or none.
AVID in my opinion is the poster child for the BOD's failure to increase shareholder value.
Solid financial and science data talk, BS walks
Exactly, Glad you agree with me. This ATM crap has got to stop. Where is ES and his funding expertise? If he can't get us a deal than what the hell is his purpose on this board except to collect his 80K in fees and who knows what else? Make the financial deal so the stock can run already? There is no way if we have the goods that they can't find an investor to take 5 million shares to fund us for the rest of the year. The 1 million shares a quarter of ATM shares is killing the company and pure incompetence in my opinion of the CFO and the board for having this go on this long.
Hostility towards mgmt. LOL! You bet when it is near 10 year lows!
Your contention that management has not been working on expanding Avid's capacity is ludicrous. It has been discussed and acted upon my management for years. They have obtained access to additonal square footage and have been early adaptors of that new bioreactor technology to multiply their capacity.
Huh? They have been running at less than full capacity for the last year and have yet to get the additional space up and running? Saying they intend to do something in a CC and actually doing it are two different things as we are all aware with this mgmt team. Unfortunately when things happen differently they are usually bad such as PL saying he wouldn't sell shares at these prices and then doing the biggest pipe they ever did. Saying they still believe in the govt contract and then getting nothing more etc.... Never a good surprise.
Quite amazing when we have a customer that needs more demand they have to go else where. Where is mgmt's foresight? David vs Goliath give me a break. That is just an excuse. Other companies have made huge deals already. Your many times a thousand shares don't impress me and I don't really care. Results are what counts.
Can you honestly say a proper PR firm, IB and BOD would not have us in a better position? If you can't then it is pure stubborness and blindness. All imo.
CP, the point is it shouldn't and doesn't have to be all of nothing. We shouldn't be at 1.38 right now. It is quite ridiculous. With a proper PR firm, IR firm, IB and BOD we probably would be at $3 or greater. Who gives them the right to go all or nothing? We as shareholders own this company and should have a say. If this thing goes belly up in two years mgmt really hasn't lost anything out of their own pocket. Shareholders lose everything. Shareholders should have a say in accepting a double or triple in price rather than risk going all in for a possible 10 bagger or greater. I have made it quite clear I would run away from this as quick as possible with $5 and I am sure alot of others would too. That is why I find it laugable when people same they are clearing out when the stock tumbles. If they want to clear out all they have to do is let the stock run. The people who want the 10 bagger or greater are probably the people with just a 1000 shares and hoping to get lucky and strike it rich. Just as greedy as the Board and rather the science slowly get done rather than proceed at a quicker pace and actually help people.
As in CG's post, Halozyme had to get an extra Mab facility because they had a greater need. Doesn't AVID have the ability to expand? Why wasn't this pursued? This is costing us dilution.
Mgmt should not be gambling and getting greedy with shareholder money. I doubt they would be doing this if they had their money on the line. Unless of course they really don't have the goods and are just stringing it out hoping for some luck.
We just sold over a million ATM share near a 10 year low yet people still don't think there is a need for an IB. We could have just payed the salary for a new PR firm with the savings for the past month alone. All imo.
After thought: Regardiing RRDog's insightful post just now, I am inclined to agree with much of what he says, especially if his advice had been acted on by the BOD a year ago. But with randomized Phase IIb results only a few months away for the front line NSCLC trial, and the HCV viral results coming by January, it will be a lot cheaper to hire the banker and do the secondary offering in Q1 of 2012.
How much does an IB cost? Lets say we sold 7.5 million ATM shares over the past year and if the IB means $1 to the share price then that means waiting cost us at least 7.5 million dollars. You can do the math with more shares and more savings and also add not having a different PR firm and Board has cost the shareholders. $1.38 after 8 years and lots of data. All imo.