Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
RE "Unless of of course it really is working.....I wish we could ask Dr. Wolchok. "
Bavi is Bavi.
Dr. Wolchok isn't God.
Bavi has failed in testing it in viruses, failed in Cancer time after time after time, but "presto" this Dr. Wolchok is going to make it work? Reality check!
BTW, remember the total value of ALL pre-clinical ever done = LESS than ZERO. Just look at the stock chart.
RE "White Night to Peregrine...AZN, MERK, and GILD. I think AstraZemace is in the pole position"
I disagree about AZN.
They did have interest (key work "did") but that's obviously long since gone away.
Here's the FACTS: August 24th 2015 - yes almost TWO YEARS ago!
PPHM and AZN announce intended clinical trial collaboration.
Please update me on when it finished?
Started enrollment?
Actually did anything?????
Even mentioned in a CC by our team of completely incapable stooges?
It's gone absolutely nowhere - like everything else this company touches.
Disappeared into the PPHM black hole like almost everything else.
I would think if AZN was interested, something - anything would have happened over almost TWO YEARS.
Obviously AZN has a whole list of far more important interests than Bavi.
RE "Oh, and 45,069,188 X 7 = 315,484,316 shares O/S "
And more to the point, 315,484,316 X 5 = 1,577,421,580.
Otherwise knows as 1.5+ BILLION shares and that only goes back to 2009, and things were bad for years before that! With a close (after hours) yesterday of $4.6 that's 13 cents.
stock price = 13 cents.
Shares out = 1.577 BILLION.
That's PPHM in 2009 pre-reverse - pre-reverse terms.
I've been talking death cycle dilution for YEARS, and that's exactly what happened.
I remember when PPHM has around 100 million shares.
That's dilution TIMES a FACTOR of 15!
And if left as is these guys have unlimited ability to continue to dilute dilute dilute dilute dilute, and guess what they'll do?
Same thing they;ve always done without any regard for shareholders.
Dilute dilute dilute dilute.
Some people say that Ronin may not be the ideal solution, BUT
they are the ONLY solution there is!
RE "PPHM says its R&D costs will fall 40% in FY2018"
Since when has ANYTHING PPHM ever actually happened?
RE "IF they had a partner and an avenue for the Exosome kit or anything else they would crow from the roof tops. They have exactly what they revealed. nothing. "
Exactly. How many new catch phrases has team PP put out there to try and excite the long suffering shareholders?
I can't even remember them all.
But all of them either vanished into the black hole or went nowhere quarter after quarter after quarter. Now the newest worthless term is Exosomes.
It's accomplished the same thing as every other one. ZERO, zilch, nada.
It's how this useless team operates. It's an EXCUSE for MORE dilution.
Period, end of story. They keep they high priced accomplish nothing gigs and the shareholders have something new to dream about for the coming years.
Well, you can do that to the average Joe Retail, but Ronin is not one to suffer fools. The sword is sharp and heads will roll.
And thank the Gods I say!
RE "So if we would support such split then we must be sure that there is a CONCRETE FUNDING PLAN. "
Huh? we all know the "funding plan".
It's called unending and abusive dilution.
RE "I'm afraid we're going to be stuck with the current BOD for Bavi's development. "
Any spinoff in Avid will have to preserve the shareholders stake in both the old company was well.
If Ronin wants to have control of both post divide vs. current PPHM pre-divide, it just means double the paperwork.
For avid to be a growth company, doesn't revenue have to grow? lol
They can't even grow next year with $10 million pushed into next year from this year? huh?
Remember when SK said they would break-even with Avid?
Has ANYTHING he ever predicted come true?
Don't believe anything he says!
BTW, a MAJOR decline in backlog is NOT a growth company.
I've always said Avid was a distraction, and continuing to prove true.
Without Ronin, this stock would be HALF of the current price - or worse.
ALL shareholders better hope for a Ronin win.
If Ronin doesn't get what they want, they BAIL and the stock tanks!
LOL - now SK talks about spinning off Avid?
I've yelled about that forever!
These guys are the worst.
But remember- as of now (as always) it's just talk.
talk talk talk.
Ronin is about ACTION.
Ronin understands how the market works.
SK has always been clueless.
Clarification - sorry - typed too fast.
My point has been that if PPHM believed PPHM was being undervalued by the market, then spinning AVID off would help create shareholder value which they pretend is their job, yet they never even said anything about considering it prior to today. Which meant they had no confidence that Avid was being undervalued.
Now of course potentially spinning it off allows may allow them to maintain control of 1 of the companies and continue their evil ways.
RE "now that it is about to happen someone wants to hi-jack PPHM"
The great stuff is always just about to happen....
Where's the word "soon". lol
the only hi-jackers are the current failed team of diluters that got rich while the stock lost over 90% of its value.
RE "concern I have is their opinion that the Bavi and Exsomes pipelines are worthless"
That wasn't what Ronin said.
Ronin said they want them MONETIZED.
That would benefit shareholders, rather than the endless dilution that has destroyed shareholder under the current team.
RE "They want, no need the PS platform. "
There are 100's of little biotech startups like PPHM.
ALL have something interesting that may or may not prove to have value.
To date, BAVI has proven to have no value.
BP/BB do NOT want or need the PS platform, they've got dozens of other candidates far more worthy of their consideration at this point in time.
This afternoon CC. Realists realistic predictions:
Nothing new on the CC.
Quarterly cash burn and dilution report.
Standard talk about talks.
Standard talk about years away fantasies where ZERO dollars have been brought into the company from collaborators.
What they wanted to say about Ronin happened yesterday in their PR.
Anyone expecting anything about some great deal that will create tangible value to shareholders and shut Ronin up will be severely disappointed.
Typical snore expected.
If you want excitement about the future, Ronin is the source of that, not this miserable and failed shareholder unfriendly management team and BoD.
Best that can be hoped for in the future is a good old fashioned proxy fight where Ronin's slate wins. Anything else would be a continued nightmare for long suffering shareholders.
Anyone that believes anything that comes from the mouths of the current team is being very foolish.
RE "I believe PPHM is close to a deal. "
If that were true, Ronin wouldn't need to do or say anything.
But they did so Ronin does not believe a deal is close.
We know from the letter Ronin and PPHM talk a lot.
So, is a deal not close, or is PPHM telling "alternate truths" to Ronin?
RE "IFFF anyone on this board is unhappy with Ronin, just remember we
would be floundering in the high 3's right now"
Exactly! Ronin has done more for the price of PPHM stock ALREADY than PPHM has ever done!
It left the basement because Ronin bought large amount.
Now it went up more because "the market" likes Ronin's plan.
What have current management/BoD done for PPHM stock?
Ran it into the ground with failures, cash burn, and abusive and endless dilution and reverse splits.
Ronin's plan or the sleazbags entrenched in PPHM?
What should shareholders do?
The classic phrase "heads on spikes" come to mind.
RE "Following the Committee’s review, it will make a recommendation to the Board that is in the best interests of Peregrine and all of our stockholders. "
Gonna go out on a limb and predict that PPHM's "committee" will recommend that it's best for shareholders to stick with the current team and not the Ronin nominees.
What a waste of time. Vote these shareholder value destroyers out out out!
Speaking of options investors have, what about Ronin buying and holding or selling....
The stock only went up BECAUSE of Ronin!
The stock was supported by RONIN!
If Ronin loses their battle and bails out, guess what happens to the stock price?
Yup, goes right back where it deserves to be if shareholders are stupid enough to let this proven failure of a management team/BoD continue.
I don't think shareholders are that stupid anymore.
If Ronin loses and bails, PPHM stock goes back into the $2's.
Or for those of you scoring at home - divide by 35 to get the pre-reverse pre-reverse 2009 price!
RE "I think Dart's opinion is going to weigh most heavily. If he differs in opinion from Ronin, it will cancel out Ronin."
Not in my opinion!
There's a clear choice - the bozos that destroyed this stock OR Ronin.
it's a no brainer. Voting for the existing team at PPHM would be like slitting your wrists.
RE "Can't wait to hear what the clowns say on the sleazy Friday after hours CC. The CC will be highly laughable yet nauseating"
I agree. As yesterdays PR proved once again, these clowns are not only clueless on how to create value, expecting them to behave in any way other than complete Bozos (as they always have) would be foolish.
What to expect in Fridays CC?
Same things as always.
Expecting anything else would mean ignoring a very long and disastrous history.
Expect the quarterly cash burn and dilution report, the typical talk about things that are going nowhere, more fantasy, more talk, more worthless optimistic outlook for some years in the far distant future, and maybe the standard BS about how the company will evaluate Ronin's ideas and do what's best for shareholders. Cough cough, gag gag. Their tongues should snap off.
RE "Did you ever find out what the BOD presented to NASDAQ. let me answer for you: NO AND YOU WILL NEVER KNOW "
And it was obviously NOT impressive since the NASDAQ shot them down and forced the reverse split!
RE "committed to maximizing value for all stockholders"
How many times have they said that?
Results?
Nothing but continued destruction of shareholder value and abusive dilution and cash burn.
Sorry PPHM, the same old lame BS speak isn't going to work anymore.
The jig is up and the leaderless Samurai are here for your heads!
PPHM management/BOD has never done anything positive for shareholders.
If they think the shareholders are going to do anything to save them, they are sorely mistaken.
RE "Our Nominating Committee will carefully evaluate Ronin/SWIM's nominees consistent with that process. Following the Committee's review, it will make a recommendation to the Board that is in the best interests of Peregrine and all of our stockholders. "
LOL, anyone that believes that, well I've got a bridge in Brooklyn for sale.
Actually that entire letter was typical PPHM.
Can't believe they had the nerve to try and say the BOD has done anything positive. Better to just admit the truth.
It's a slap in the face to shareholders.
Ronin's getting more votes by the minute. lol
RE "how we can further strengthen the company."
That would imply they've done something to already strengthen it.
In reality all they've done is destroy it.
Anyone want to calculate total dilution during the SK era?
The endless talked about fantasies that vanish in the black hole?
The endless failures?
The sickening directors fees?
The endless talk about talks?
No no no - WAY too late to try and save your arses now PPHM boys.
Take it like men. Apologize and resign - Good riddance.
RE "stronger poison pill must be in place"
Poison pills are NOT good for shareholders.
They only serve to entrench current management and BOD.
If you want a chance at maximizing returns for PPHM shareholders, get rid of the guys that destroyed this company AND get rid of the PP!
RE "He <Lyttle> is unhirable based on his track record performance here".
Exactly. Any idiot can dilute at any price to raise corporate funds.
CFO? He's not worthy of the title.
I'll never forget his famous line from a CC way way back around 2005ish
We're not in talks to sell a single share of stock.....
RE "7$ (1$ pre-split).
Actually, $1 pre-split if you go back to 2009 = $35 today.
You're only backing out the most recent reverse split.
Most investors have been here since 2009 or before.
There's only 1 for 35 shares for people here since 2009!
$35 now = $1 in 2009.
(not that $35 is even a remote fantasy at this point).
Thus illustrating all too well Ronin's (and my) point about ENDLESS and ABUSIVE DILUTION!
Can't wait to kick the bums out!
RE "interesting call tomorrow"
I can't wait to hear the classic reply from PPHM regarding Ronin's letter and actions.
Most companies say something like this:
"Your BoD has determined that it would not be in the best interests of shareholders to support (opponent), and urge our shareholders to vote with the current BoD."
Then of course the obligatory typical PPHM lip service that says nothing but hollow and worthless and more than vague concepts of what their fantasy is for success (which conveniently they aren't at liberty to discuss details) lol. Don't have to go far for an example of that. Just go back to all the talk of their "strategy" to avoid the reverse split! Which of course in reality was nothing but begging to the NASDAQ so they could delay the reverse split to pretend to shareholders that they were doing something.
Going to be hilarious to hear their lame attempts at why shareholders should be stupid enough to not vote for Ronin's plan!
RE "30% of the stock trading today ? ."
1.466 million traded today divided by 42.53 million shares = 3% NOT 30%.
3% isn't that big.
RE "Wolf in sheep's clothing"
Cant'know for sure, but here's what we do know.
Go with the current PPHM team/BOD and get continued shareholder value destruction that has gone on for decades and endless abusive dilution that has gone on for decades. More cash burn, nothing but talk, and reverse splits.
OR
Go with Ronin and their group and have a chance for actual shareholder value.
Put another way, even if Ronin etc tried to "steal" the (proven worthless IP), the company would still be worth MORE to shareholders than what it's worth with the idiots and clowns in charge now.
This is a "no brainer".
Bravo to Ronin! Their letter looked like something I'd write!
Numerous mentions to abusive and unending dilution.
They exposed this farce of a company for what it has always been!
Hopefully the end is near for the current failed team.
Heck, Ronin could put Larry, Moe, and Curly up for the board and get support form PPHM shareholders! Anything is better than what's been there.
First action of the new board? FIRE King and Lyttle!
Can't wait to see those two and the BOD GONE gone gone!
Hope Ronin takes over and turns this company inside out until the rats have no place left to hide.
It's the ONLY chance long suffering and abused shareholders have.
I expect PPHM to go to the $3's shortly.
When calculating the true price of PPHM shares, One now has to divide by 35 (THIRTY FIVE) to adjust for the TWO reverse splits since 2009.
The only BILLIONS number this company can talk about are pre-reverse split shares, NOT market cap or sales or anything else.
I also expect ongoing massive dilution, although that shouldn't be a surprise.
I also expect no progress with Bavi. Trials are for all practical purposes going nowhere, and AZ is silent, and MSK means nothing since it's pre-clinical.
In other words, this company is worse than ever.
Note how management doesn't dare talk about Avid actual NET profit/loss numbers.
Dilution, cash burn and talk is all there is to see here....
As predicted PPHM is doing the reverse split.
Never any doubt in my mind.
NASDAQ can't be fooled by these jokers.
Was there ever really a "plan" or was it just begging at the NASDAQ meeting. We all know!
That's 1 share for every 35 that speculators had prior to the 2009 reverse split. Meanwhile PPHM dilutes with additional shares at an obscene rate!
Stock will still be under $5.
Guess where it's going next?
Just look at the chart of what happened after the last reverse split.
It's not rocket science folks.
Perennial LOSER stocks don't magically go up after a reverse split!
RE "the Avid business is worth more then 1$"
(AVID is a part of PPHM)
If that were true management would be able to actually CREATE value for shareholders by spinning it off. (AVID is a part of PPHM)
So which is it: Avid worth less than you think OR management clueless or both?
Also, GROSS profit and NET profit are two completely different things.
While PPHM reports "gross" profit, we have no idea what Avid net profit is or isn't.
RE "<AVID>may be worth more to pphm then it is to the market "
Not an issue. As I said in my next post on the subject, Avid could be spun out AND PPHM retain a majority ownership stake.
Win/win - if they actually think Avid is worth more than it's currently being valued. As always their actions and lack of actions tell the real story, not their words.
RE "Dear Peregrine, please do something to make them shut up"
I'd ask you to consider the track record on that front.
When a batter steps up to the plate when he's zero for the last 100 at bats, I'm pretty sure I can predict what's going to happen!
Seriously, we all know by now these guys got nuttin but talk, cash burn and dilution - oh and failed trials and entrenched management/BOD.
NEVER a good recipe for future investment gains!
IF they believe Avid is being undervalued by the market why not spin it out and show us how much it can earn and get its rightful valuation?
But..............we all know why.
If Avid is should be worth more than $1 per share that means the reverse split could be prevented an AVID spin off SHOULD have been part of the strategy (haha) - but again NOT part of the strategy.
Anyone care to ask team PP why they don't want to spin out Avid WHILE retaining a majority ownership stake? No good reason not to if they believe the value is being understated , especially with the NASDAQ delisting/reverse split looming.
As always a little simple logic exposes this company for what it is.
RE "i am sure they go all in 7:1. "
Hmmmm, question as my math skills are a bit rusty.
With a 1 for 5 in 2009 and a 1 for 7 probably coming "soon", would that mean shareholders prior to 2009 would have ONE share for every 35 shares they used to have?
All while PPHM sold millions of new shares?
All while they got huge salaries and ran the stock price into the ground?
All while they kept their jobs?
if anyone thinks the performance of this perennial loser stock will be any different after a reverse split than it was after the previous reverse split, I highly recommend more analysis on the matter.
Does this company actually do anything other than incinerate cash and create more shares?
Oh I forgot, it sweeps everything under the rug that it talked about in the past.
What happened to those "cancer test kits that can happen anytime and sell for billions" I used to read about?
Is that supposed to happen in 2038 or 2039? Or more likely, just vanish into the ether........
I wonder why they don't split off Avid so we can see those standalone financials. Oh, never mind - just answered my own question!
Reverse split coming soon!
RE "7 tests in this kit with Peregrine's patent."
How about something relevant to the stock price over the next say month or year, rather than years away fantasies that have no bearing whatsoever?
Next...
Looks like PPHM delisting/reverse split NASDAQ decision is very very close:
On April 11, 2017, Peregrine Pharmaceuticals, Inc. (the “Company”) received a letter from the Listing Qualifications Department (the “Staff”) of The NASDAQ Stock Market LLC (“NASDAQ”) stating that the Company has not regained compliance with the $1.00 minimum closing bid price requirement set forth in the NASDAQ Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”) . The letter further states that the Staff has determined to delist the Company’s securities, both common and preferred stock, from the NASDAQ Capital Market on April 20, 2017, unless the Company requests a hearing before the NASDAQ Hearings Panel (the “Panel”) by April 18, 2017 to appeal the Staff’s determination to delist its securities.
The Company intends to timely request such a hearing before the Panel, and such request will stay any delisting action by the Staff pending the issuance of a written Panel decision. The Panel will typically hold a hearing to consider an appeal within 45 days after the request for a hearing is made. At the hearing, the Company will present its plan to regain compliance with the requirements for continued listing on The NASDAQ Capital Market. The Company is considering several paths to regain compliance with the Minimum Bid Price Requirement, including, among other things, a reverse stock split. As previously disclosed, the Company’s stockholders approved a reverse stock split of the Company’s common stock at a ratio of up to 1-for-7, to be determined by the Company’s Board of Directors in its sole discretion and effected, if at all, at any time until the Company’s 2017 annual meeting of stockholders.
http://secfilings.nasdaq.com/filingFrameset.asp?FilingID=11993290&RcvdDate=4/12/2017&CoName=PEREGRINE%20PHARMACEUTICALS%20INC&FormType=8-K&View=html
Assuming PPHM requested a hearing in Mid April, 45 days would be ~end May. How long from the hearing date to the NASDAQ decision date?
Not sure about that...
RE "King and Worsely need to consummate a deal with someone. "
Too late for that. PPHM blew it by waiting too long.
The time to deal was BEFORE Bavi failed.
What's the going rate for failed drugs?
Oh that's right, zero.