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Been saying for years that mgmt is inept when you are talking about AVID. It has already been proven AVID at even less than full capacity can generate 29 million. To project only 8 to 10 million this year is ridiculous. That is close to a 70% reduction in revenue. Again, why are we paying all the salaries for these people. How does the head of business sales for AVID still have a job? Where are the cost cutting measures?
Why haven't we heard anything from our head of clinical studies Garnick in who knows how long? Does he still consult here? Remember this is still a company who mysteriously starts things and then you never hear from them again. Is Carlton Johnson alive?
Pretty soon the deadline for shareholder proposals will be upon us. Lets hope we see Dart take some action. Once again a pretty pathetic CC as usual. Yeah we knew it would be bad but it is never a surprise to the good side and it is always worse than we thought. All imo.
I often wondered what would happen if Peregrine ever had a hiccup, we'll find out next week.
Have you been sleeping the last eight years? There have been many hiccups yet the same people are in charge and we are near the lowest stock prices for the company over the last eight years despite any slow progress in the science.
Mgmt has forecasted for a year now that revenues were going to be down over 50% from previous year. Have they downsized and if not why not? What are all the people doing with their extra time? All imo.
Avid's revenues are bad because of bad timing! LOL!!! You know the same excuse for the last couple of quarters yet they can say it because people believe this crap. Again, the one thing mgmt can actually control by increasing sales etc.... they fail at. They must have a wharehouse full of Bavi and Cotara stockpiled by now! LOL. What the hell do all these employees do now. Before we had less employees and did 29 million now we are doing less than 10 million. Why are we still paying these people? If the salesman can't bring in revenue, then get rid of them. They are costing shareholders huge dilution. This part is not about the science it is about business. Maybe Carlton Johnson can figure it out. He must have been appointed for something. All imo.
Approximately six years to finish Phase I? I guess it is progress no matter how excruciating slow it is.
Your post is one of the first that has ever questioned the BAVI safety profile and perhaps you could enlighten Steve on your research so he quits misleading us on the " superior" safety profile of Bavi.
Perhaps you can also enlighten Steve to quit misleading shareholders that we are in talks and this is the year. Again, I guess since no one answered the question, that SK did indeed say we will have a commercial product in 2011. The silence was the same when I asked if indeed Garavoy had left. The clock is ticking. All imo.
Jess, I don't understand why that statement would not be in CJ's headlines? Why wouldn't that be placed there if it indeed was stated by our CEO and would definitely be a major accomplishment and would factor significantly into the success of the company.
Didn't SK say that we will have a commercial drug in 2011 or something similiar to that effect?
One more thing. I am not by any means suggesting mgmt and the BOD is doing anything illegal. I am just stating my opinion that this mgmt team is in way over their head and have not executing any plan in the last eight years to enhance shareholder value. I don't see how it would hurt the progress of PPHM if everybody from the BOD excluding SK did not show up for work and were replaced by more competent and experience people who have had success in running a company. This BOD team has not had any success in running a company to date in my opinion and has had ample opportunity to so. I don't know how we could change it but I wish we could. Maybe Dart can. I guess the wait is starting to get to me. I am tired of next year will be our year while other comanies with seeming less going for it are making deals. I have not desire to hit it big in eight years I want to hit it small now. Give me $10 and I will be happy. Sadly that is just $2 (pre split) which is about where they started from years ago. That is all from me. Have a nice week. All imo.
We don't have to post our resumes. We are not running a public company and not meeting expectations but getting bonuses, yearly fees, salaries and options. I don't think you can argue with their record. When do you say enough is enough. In sports you fire the manager, then the GM etc.. In real business you do the same. Politics you vote them out. You don't appoint Carlton Johnson as COB when you have a choice to enhance the company. Seems obvious to me but just my opinion. Luckily in this country it is not a dictatorship and when people don't like the status quo they can try to create a change not just sit back and say oh well if I don't like it I can just leave or accept it. You would never had Watergate, the civil rights movement, or any other changes brought about by people making sure people in power were doing the right thing. Oh but they have a another new plan......
I know it makes money and saves Peregrine money, but I hope it eventually becomes much more lucrative.
Don't hold your breath! This mgmt team has had over eight years to get AVID to full capacity. So far they are way off last years pace but of course it is due to bad timing! It really is a shame. With all the waste going on in employees I don't see how somebody just devoted to AVID (qualified of course) couldn't get this straighten out. I guess if you don't care how long it takes it doesn't matter.
Is this how desperate we are for news that we scrounge around websites and posting new hire listings? It would be better if we would actually hear from mgmt how things are going.
It is strangely quiet around here. I truly believe Dart has mgmt squirming and that is the reason we are missing a lot of "this is what I hear" posts. All imo.
Cheynew, Excellent post! The amazing part is the legal beagles that lost Epstein are still working for PPHM and the BOD that has PTSC at 10cents and protecting their patents are still are on our BOD! To top it off we name one of them our COB and it seems nobody here seems to care or thinks it doesn't matter. I hate to know how much this BOD really cost us shareholders. We have gone through doctors, trials and different directions it is truly astonishing. I still can't fathom why AVID can't be running to full capacity. What the heck do all these employees do when our numbers are 1/4th of what they once were and capable of doing. I am in till it is over but I would rather have it done either way now than 8 years from now. The only ones that win are mgmt and the BOD who keep garnishing wages and fees. All imo.
Djohn, You have a good weekend also! It is refreshing that opposing banter can go on without name calling. We both want the same thing. The waiting is torture. Lets hope history doesn't repeat itself and for once things turn out ok.
I love it when people same mgmt has a plan and is following it. Really? How many times has the plan change and how many times has it been delayed or not come to fruition? How long does this mgmt team get to drag it out. They have had at least 8 years now. Everytime something goes wrong it just disappears without a mention. Epstein, Hutchinson, Garavoy the list is probably more. All the while they are following a plan. All the trials that seemingly disappear without data being published. How is our China Subsidiary doing? How is Stason doing? How is Dios doing? I think it has been about two years now. Is their website up yet? Just because these companies our private doesn't mean we can't get updates. We are a public company not the private company. How in the world do you explain the hiring of Carlton Johnson as helpful to the company? You do realize we have a BOD that is having problems running a penny stock company to success. How do you get any credibility or confidence with this BOD? Again they had a chance to add credibility and chose Johnson. Maybe Dart believes in the BOD or not we just don't know until his intentions come to bear. Right the only one left is Garnick. What happens when he is mysteriously absent and for all the positives he brings he still is just a hired consultant. Shareholders should have been partying by now with real mgmt and they will be able to party sooner in my opinion if experienced personnel are brought into the picture. I have no problem with SK the other members have no business with this company and our just mooching along for the ride and keeping this company from succeeding sooner. All IMO.
Maximizing shareholder value is part of running a business. If the share price was higher, the company would have less dilution and more money to fund operations. Basic common sense. Selling shares at a higher price is good for business. If you dont' care about getting the most bang for your buck than you are not running the business properly. Having AVID run at less than full capacity for the last three quarters and blaming it on timing is not running a business properly or necessarily being truthful. All imo.
Mgmt can't have too much confidence if they will not ante up their own money knowing what they know. Very easy to do, especially through a set plan. All imo.
Why would this mgmt team want the stock to go up? They haven't shown that wish yet? The latest answer was when they announced Carlton Johnson as the COB and he has yet to be heard from. We have an IR team who selectively answers emails and the PR's are in my opionion selectively deceptive especially in terms of personnel. All imo.
Hopefully we will see a positive move soon. I don't believe there are that many CEO's and BOD of other companies that would still be employed and receiving bonuses and salary increases with a 5 year performance as below.
http://finance.yahoo.com/echarts?s=PPHM+Interactive#chart1:symbol=pphm;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
It is actually worse if you go further out. How long do we wait for this is our year while we are still near 15 year lows. All imo.
Dr. Garovoy is no longer head of clinical trials and who knows about Dr. Garnick since the company only PR's when they are hired and not when they leave. All imo.
Why buy shares when you can get them for free? This is why it doesn't matter when stock goes up for mgmt and BOD because if it takes 7 years from now they just replace shares they lost over the years. No accountability at all. Mgmt did not meet their own milestones so all they have to do is wait another year while collecting their salaries while the common shareholder keeps getting diluted. At least now, hopefully Dart will not stand for this unless of course he shorts the stock into oblivion. All imo.
Seeing negatives in this says only one thing, and it's not about the funds or PPHM. It's about the posters in question...
I didn't read any post saying anything negative about todays news. It is almost like posters trying to argue about anything that is said that may be negative and true.
I personally am happy about todays filing. Hopefully we will see a 13g from Dart also.
Maybe they don't have the money to buy more shares of peregrine.
All I know is if I knew everything about the company and the prospects were like everyone here is saying, I would find a way to buy more shares. Who doesn't want more money? In addition mgmt and BOD purchasing shares raises the stock price which in return helps the company. Its a win-win situation!
Again the naming of Carlton Johnson saids it all. A naming of a COB definitely could have had a huge impact on the company. No reason to hire a BOD member who as a lawyer was on the board when we lost the lawsuit against China and Epstein and is currently on the verge of a mutiny with another penny stock company which coincendently has some of the same board members as PPHM. However I am sure the board had their reasons for naming him. All imo.
I appreciate your analysis golfho. The problem I see is that mgmt so far has not proven they can deliver the goods. History to date so far has not been good for mgmt in my opinion.
While you may think pphm is a great investment, unfortunatley it appears that the BOD and mgmt do not share your feelings. Why else would they not put their money in the pot to make some more money?
It still amazes me that with all the potential to help the company with a real Chairmen of the Board they pick Carlton Johnson. The pick of Carlton Johnson speaks for itself in my opinion. I just hope we will see a filing by Dart again soon.
Why not email them the crystal report that we paid $54,000? Why go to these shows, put up milestones on the screen and then wait six months and have all the potential investors notice that mgmt did not meet their own milestones that they set. Rinse and repeat.
Has anybody heard from Carlton Johnson? This was the behind the scene chairman our board selected to lead this company but hasn't been heard from.
I sure hope Dart is accumulating more shares and is just waiting to drop the bomb on mgmt. We can only hope. All imo.
Lets do the reverse we don't even have to know who was responsible for the deals. In the years Mary Boyd has been working how many deals has PPHM had?
Another question, if a public shareholder invested in PPHM because of a PR issued by PPHM stated that they hired the renowned Dr. Garovoy to be head of clinical trials, do you think the same public shareholder now has a right to know that Dr. Garovoy is now not head of clinical trials? Why would a person who emails IR have that knowledge and the public shareholder does not? All imo.
PPHMfan, thanks so much for sharing your email response. It is refreshing to have someone actually post info good or bad rather than keeping it to themselves!
I sent Amy a message this morning and just got a response. I don't know if this was discussed before or not.
My message...
It’s really good to see some of these trials starting and should make for an exciting 2011. I just have a quick question. Has Marvin R. Garovoy left the company? I no longer see him on the management team part of the website. Any help would be greatly appreciated.
Amy's response...
Yes, we continue to advance our clinical programs for bavituximab and Cotara. Dr. Garovoy was brought on board to establish our new investigator-sponsored trials (IST) program. Following the launch of this program last year and the initiation of the first two of several planned ISTs, Dr. Garovoy is pursuing other professional opportunities outside of Peregrine, and remains available to help us with projects. We appreciate his contributions in establishing this program and mentoring our internal team to execute these ISTs.
Regards,
Amy
In all honesty who really cares about new hiring posts! For all we know they could be to replace people who left. AVID is already not running to capacity with the people they have. I still find it amusing that MGMy puts out a PR stating they hired Garovoy and yet it is no big deal that he is no longer listed. I know if I am paying someone to be the head of clinical trials I would want to make sure he is working for my company and not worried about his other consulting jobs! Head of clinical trials is not a full time job? All imo.
Exactly! PPHM mgmt touted that he was hired! If he left, there should be an announcement. You can't have it both ways. Again, the fact that nobody can get an answer from IR speaks volumes! Business as usual with PPHM mgmt. Keep the shareholders in the dark, release info when you want. Remember, this mgmt team didn't even know they had to PR our great COB until they were called out at the shareholders meeting. Quite Amazing! All imo.
Who's the moron that was hoping it would go below 2 so they could buy more? I hope you don't get your chance.
These incompetent mgmt people didn't even want to wait till the holiday to release this crap. I guess they have to give their buddies ample time to do their thing. They may be playing a dangerous game if they are attempting to piss off Dart. The only problem as usual is they don't lose anything since their money is not in the game. All imo.
Peregrine Pharmaceuticals has strong business growth and is run by inefficient management.
Don't these people know that only the science matters. Mgmt has nothing to do with it according to our supporters. The question is if mgmt doesn't matter why do we have to keep giving them ridiculous incentive options when they haven't even performed to their own milestones? All imo.
Nope. Goes further back then this year. It has to do with the last time we got kicked off the Russel. Another mgmt mistake which the shareholders got the bill.
You obviously haven't been around long enough to witness mgmt and the BOD rape long time shareholders. This is the same mgmt team that sold shares right before the russell rebalancing causing PPHM to miss out on the index. ES then tried to cover it up by buying shares. Of course he could conviently buy shares then without insider knowledge like he can't now. LOL! All imo.
Hopefully this pisses Dart off. I think mgmt is trying to scurry to protect themselves.
Yeah, Geo mgmt is purposely keeping AVID space open so that they can get ready for commercialiation over a year from now. Are you kidding me! Okay, I guess you can believe that if you want to. All imo.
Now it is a buck-fifty and I'm thinking it is about a 50 bagger thanks to the advance of the science and the people PPHM has acquired from Genentic, or where ever they came from.
Mgmt must not think so. Again the stock is 1.58. Why wouldn't mgmt load up on PPHM shares? Don't they want to make money? The last time they bought a small pittance the stock actually went up. What a concept. If the stock goes up, shareholders and the company get more money from the ATM sales. Where is our COB? Has he even been heard or seen?
Didn't SK already go on record stating we could be ready for commercialization in 2012?
9-9-08 Qtly CC Transcript (q/e 7-31-08)
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=32106969
we believe Avid has the potential to be a profitable, stand-alone business this year,
This is what frustrates me the most. Mgmt clearly states again in 2008 what they stated about six years ago but yet they can't make it happen!!
This is one thing mgmt can control. To me this should be the top priority of mgmt. Of course mgmt does not care because they are not the ones being diluted. It amazes me that this has gone on another two years! Heads should be rolling! Do you realize how much this is costing the shareholders? We have a service which can significantly cut our losses and mgmt can't get it done for at least two years@!!! This is totally absurd and unacceptable. All imo.
On the positive side, I was surprised that the stock price pretty much held. I hope that is due to Dart. However the same way Dart can support the price, he can crush it if he wants to buy lower.
The scary part is that if mgmt put Johnson in as COB to protect the company. This mgmt team couldn't protect the company vs Epstein and China. Imagine what Dart's team of lawyers can do. We can only hope that Dart wants to make a lot of money and quickly. I sure hope so. It still amazes me that with all of its employees AVID still can't get enough business to keep them running at full capacity. All imo.
I was glad to hear that there are "several other IST's" to be announced in the near future.
That's funny. I thought mgmt said in an investors conference that 3 to 5 IST's would be launched about 6 months ago!
One of the worst CC's in recent memory. I sure hope Dart has them on the defensive. Unbelievable that mgmt still has not bought any significant shares on the open market. I guess they know no matter how many shares they buy, they can't compete with Dart. I for one am hoping for a takeover immediately and I don't care if it is for $5 or $10. I will be making money. I am not greedy. Let's get the science into somebody's hands that can actually progress the science faster rather than this snails pace of dilution. At this rate even if our market cap increases the share price will decrease. Of course mgmt doesn't care because they keep adding to their free share base so it doesn't dilute them at all. 8 million shares for employee options. Just plain ridiculous! All imo.
Where are all the pro mgmt supporters offering excuses tonight? We should have a 2 page explanation from KT offering what milestones are coming up. Nevermind that mgmt has missed several of the milestones already by at least 6 months to a year. All imo.
Geo, You can average down again! LOL! Just plain putrid results for AVID. There is no excuse for two quarters in a row AVID having low numbers. It should be running to full capacity!!! Is mgmt going to state every quarter AVID's numbers are low due to timing?
Just my opinion.
hopefully he has the money and power to thwart whoever has been screwing with the stock for the past 5 years or so.
You must mean to thwart ES? Carlton Johnson, Carlton Johnson. Still ridiculous. All imo.
Good. Looks like Amy might get a break from the unwarranted beating.
Amy deserves all of the beating she has been getting. Although she may be taking one for the PPHM mgmt team, the fact is she is IR and it is extremely unprofesional to not even respond to appropiate questions that are emailed to the company. A simple returned response is the very least that IR should send. Of course if the letter is nasty etc.. I agree no response is warranted but there have been numerous honest questions that should have been answered at the very least.
On a positive note, I believe this is great news about Dart. Maybe just maybe mgmt may have to answer to somebody other than ES. I hope this finally gets the train rolling. All imo.