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Press Release Source: Genta Incorporated
http://biz.yahoo.com/prnews/071017/nyw065.html?.v=101
Authorization for AGENDA Phase 3 Trial of Genasense(R) in Advanced Melanoma Granted by French Regulatory Agency
Wednesday October 17, 9:04 am ET
Decision Facilitates European Trial Opening in 13 New Sites
BERKELEY HEIGHTS, N.J., Oct. 17 /PRNewswire-FirstCall/ -- Genta Incorporated (Nasdaq: GNTA - News) announced that the French Health Products Safety Agency ("AFSSAPS") has granted authorization to open the Company's Phase 3 trial of Genasense® (oblimersen sodium) Injection, its lead anticancer compound, in patients with advanced melanoma. This authorization enables the opening of approximately 13 new investigative sites over the next 2-4 weeks.
ADVERTISEMENT
Genta's Phase 3 trial, known as AGENDA, is a randomized, double-blind, placebo-controlled study in which patients are randomly assigned to receive Genasense plus dacarbazine (DTIC) or DTIC alone. AGENDA will accrue approximately 300 patients and will be conducted at approximately 100 sites worldwide, including North America, Europe and Australia. Accrual, which is currently ongoing, is currently expected to complete in the fourth quarter of 2008.
About Genasense
Genasense inhibits production of Bcl-2, a protein made by cancer cells that is thought to block chemotherapy-induced apoptosis (programmed cell death). By reducing the amount of Bcl-2 in cancer cells, Genasense may enhance the effectiveness of current anticancer treatment. Genta is pursuing a broad clinical development program with Genasense evaluating its potential to treat various forms of cancer.
About Genta
Genta Incorporated is a biopharmaceutical company with a diversified product portfolio that is focused on delivering innovative products for the treatment of patients with cancer. The Company's research platform is anchored by two major programs: DNA/RNA-based Medicines and Small Molecules. Genasense® (oblimersen sodium) Injection is the Company's lead compound from its DNA/RNA Medicines program. Genta is currently recruiting patients for a global Phase 3 trial of Genasense in patients with advanced melanoma. The leading drug in Genta's Small Molecule program is Ganite® (gallium nitrate injection), which the Company is exclusively marketing in the U.S. for treatment of symptomatic patients with cancer related hypercalcemia that is resistant to hydration. The Company has developed an oral formulation of the active ingredient in Ganite that is currently undergoing initial clinical trials as a potential treatment for diseases associated with accelerated bone loss. Genta is partnered with IDIS (www.idispharma.com) on a program whereby both Ganite® and Genasense® are available on a "named-patient" basis in countries outside the United States. For more information about Genta, please visit our website at: www.genta.com.
Safe Harbor
This press release may contain forward-looking statements with respect to business conducted by Genta Incorporated. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Forward- looking statements include, without limitation, statements about:
-- the Company's ability to obtain necessary regulatory approval for
Genasense® from the U.S. Food and Drug Administration ("FDA") or
European Medicines Agency ("EMEA");
-- the safety and efficacy of the Company's products or product
candidates;
-- the Company's assessment of its clinical trials;
-- the commencement and completion of clinical trials;
-- the Company's ability to develop, manufacture, license and sell its
products or product candidates;
-- the Company's ability to enter into and successfully execute license
and collaborative agreements, if any;
-- the adequacy of the Company's capital resources and cash flow
projections, and the Company's ability to obtain sufficient financing
to maintain the Company's planned operations;
-- the adequacy of the Company's patents and proprietary rights;
-- the impact of litigation that has been brought against the Company and
its officers and directors and any proposed settlement of such
litigation; and
-- the other risks described under Certain Risks and Uncertainties
Related to the Company's Business, as contained in the Company's
Annual Report on Form 10-K and Quarterly Report on Form 10-Q.
The Company does not undertake to update any forward-looking statements. There are a number of factors that could cause actual results and developments to differ materially. For a discussion of those risks and uncertainties, please see the Company's Annual Report on Form 10-K for 2006 and its most recent quarterly report on Form 10-Q.
CONTACT:
Brian Korb
The Trout Group
908-286-3980
info@genta.com
hello surf, gnta just popped pre market and i show nothing on it???? wondering if you saw anything......
Hello mlkr, i think you were on the CRGN board then, and on the COR board now.
gltu
come to think of it, i don't know if i have never traded it after 4pm, i have bought and sold it pre market many times. they usually spread it out, the bid/ask, that i sure wouldn't want to trade it after the close.
i have seen yahoo's quotes, quote after 4pm trades frequently, so i guess it is still somewhat liquid????
mf, i was wondering the same thing as i had an order in at .69 at 15:14, partially filled at 15:27, then cancelled, or course at 16:00, my orders always cancel at 4pm est, and then i could enter an after hours order if i choose.
anyway, then boom, my screen showed me 4600 shares going across at 16:01. They could have sold me those shares at .69 anytime during the last 46 minutes of trading. seemed odd....
Ok gfp, enough please. i have a father-in-law who has alzheimer’s. he also has restless leg syndrome. we didn't know why he wasn't sleeping at night.
i thought the same thing you did when i first heard it. this poor man went from near zero rem sleep per night, and looked like hell, to the man we used to know, good skin color, that kind of thing, once he was put on medicine for restless-leg-syndrome.
we are thankful there is something out there for him, even if it sounds stupid, and gives you something to be negative about....this time around.
you are too smart for this.....
i sold all mine off, including a few losers that will help with some tax gains, and I didn't see much push in them coming soon. now maybe 20% cor, 80% money market. willing to keep building a position in cor to go to 30% in the coming weeks if it doesn't rebound and drifts downward. picked up another 5k shares this morning .69, and have another order in now, waiting.
none of that includes a core portfolio that i don't touch much that provides most of our income stream via dividends, bond payments, ect. i make maybe 3 trades a year in there. very boring stuff, but is well balanced and provides a great deal of downside support, as long as they don't cut dividends, then our lifestyle doesn't need to change, regardless of share price......
thanks again.
i agree and have sold out of everything but cor this oct., it may drift lower where i will keep adding....
we have seen some bad oct's in the past.....
thanks again,
hello surf,
glad to hear you are back in the green on PANC.
i thought it might drop right back below 2, are you still in?
i have been busy on cor, buying, and banging my head against the wall posting, and haven't kept up much the last few trading days,
anyway,
i think snus is trading below cash,
biib went nuts?
ddss at/near cash,
did i miss any other interesting ones?
you are likely busy, i can just check out hotbios.
thanks again....
hello asuhowe,
now that you have announced your exit strategy, you might want to come down to 1.98 a share
It's a jungle out there......and you have a ton of shares, in fact you would likely be one of those resistance levels unless the news out is really good and it just blows through them, but that doesn't happen that often, going up, or down.
Seriously though, there are heavy resistance levels every time cor makes a comeback, and it makes sense that they would tend to be on round number amounts, 1.50, 2.00, 2.50, and so on.
gltu
going up against the FDA
hello aiming4,
we have talked some about going up against the FDA, using the formal review process, and i never did find that article on what happened to the companies sited in the article, except it wasn't pretty.
there is a company, symbol DDSS, that posted just such an anoucement this morning:
9:26AM Labopharm appeals FDA's decision on once-daily tramadol (DDSS) 23.94 : Co announces that it has initiated the FDA's Formal Dispute Resolution process, appealing the Agency's decision regarding the co's once-daily formulation of tramadol. DDSS received a second Approvable Letter from the FDA for its once-daily formulation of tramadol in May of this year. The co firmly believes it has met the statutory standards for approval of its once-daily tramadol formulation.
http://finance.yahoo.com/marketupdate/inplay
Now when i first read that, I thought, good they are trying to stand their ground and do what's right. But the stock dropped to a new 52 week intraday low on the news.
Going against the FDA can be tough. Maybe it is some issue they can peacefully resolve, but it sounded pretty final when i read cor's news a few days ago.
i know very little about ddss, but found this news interesting and it may apply a little towards what cor is up against....
Blood Test Might Spot Alzheimer's Early By Jeffrey Perkel
HealthDay Reporter
2 hours, 21 minutes ago
http://news.yahoo.com/s/hsn/20071015/hl_hsn/bloodtestmightspotalzheimersearly
MONDAY, Oct. 15 (HealthDay News) -- An international team of scientists has developed a blood test that could reveal which patients with mild cognitive impairment will go on to develop Alzheimer's disease.
If replicated and validated -- and assuming the development of effective treatments against Alzheimer's in the future -- such a test could open the door to medicating at-risk patients earlier and slowing or limiting neurological damage, explained Dr. Allan Levey, chair of neurology at Emory University, Atlanta.
"If it can be replicated, then we will find out how important [the study] really is," said Levey, who was not involved in the research.
The findings were published in the Oct. 14 online issue of Nature Medicine.
According to the Alzheimer's Association, Alzheimer's is a progressive, fatal brain disease that affects almost one in eight individuals over the age of 65.
Yet there currently exists no early diagnostic screen for Alzheimer's disease. Diagnosis today is based not on blood chemistry, but on a combination of psychological and imaging tests. Many of those who present with mild cognitive impairment (MCI), will ultimately develop Alzheimer's disease, but others never do.
"Currently, it's very difficult to know who will progress to Alzheimer's and who will progress to other diseases, or which won't progress at all," said Levey. "Ideally, one wants to be able to know at the stage of mild cognitive impairment, or even earlier, if someone is destined to get Alzheimer's disease."
In the new study, a group led by Tony Wyss-Coray, an associate professor of neurology at the Stanford University School of Medicine, analyzed 259 blood samples obtained from individuals with and without Alzheimer's disease. They focused on 120 proteins involved in cellular signaling and communication.
The team identified 18 proteins in particular whose abundance could distinguish those with Alzheimer's disease from those without it, for an overall accuracy of about 90 percent -- that is, it correctly classified individuals who had been clinically diagnosed with Alzheimer's disease 95 percent of the time and classified as negative those without the disease 83 percent of the time.
This panel of proteins was equally effective when applied to another, completely separate set of patient samples, the researchers noted.
But "the home run of the paper," said Levey, was the finding that, when applied to blood samples collected from patients who were diagnosed with mild cognitive impairment -- a condition that often, but not always, precedes Alzheimer's -- the panel could predict who would ultimately develop Alzheimer's with 81 percent accuracy, 30 months before clinical diagnosis, on average.
Calling the study "very interesting," Levey nevertheless noted two caveats. The first was its relatively small sample size. The other was its use of proteins that have no obvious relationship to Alzheimer's.
"The blood has thousands of proteins, and they started with 120 proteins that they could measure," he said. "I don't think if one were to try to make a biomarker for Alzheimer's that you would necessarily choose these 120 proteins."
Wyss-Coray agreed that the team's decision to focus specifically on signaling proteins might seem like "a bit of a crazy idea." But given the disease's target organ, it makes sense, he said.
"Cells receive input through hundreds of different receptors, and it responds with some output, usually a signaling protein," Wyss-Coray explained. "So, by thinking in terms of this output, we decided to look specifically at signaling proteins and see if there are changes between patients who are healthy versus those with Alzheimer's disease or other dementias."
Others have also made progress in the development of early diagnostic tests for Alzheimer's. At the Alzheimer's Association's International Conference on Prevention of Dementia, in June, for instance, one group described a candidate test based on gene expression levels in blood.
"It's exciting to see this sort of work progress," said Dr. Sam Gandy, chair of the Alzheimer's Association's Medical and Scientific Advisory Council. "The important next step is to be sure that the report can be independently replicated."
Should that happen, Gandy said, patients would not be the only beneficiaries; the drug-development industry could use this assay to help select patient populations for trials of drugs to prevent -- as opposed to treat -- Alzheimer's disease.
"Because we don't have a marker that predicts [Alzheimer's] right now, such a trial is almost prohibitively expensive," he said -- "easily 10 times" the estimated $50 million required for standard clinical trials.
More information
For more on Alzheimer's Disease, visit the Alzheimer's Association.
hello patco,
the upside to bio stocks is that they tug at the heartstrings of investors who truly want to see people get well. more emotion involved, mine included.
i have added nearly 10,000 more shares of cor this morning, last order for 4,000 only partially filled at this point.
for me, it is all about the numbers in cor's yearly performance, but i certainly understand the other side and wish you well.
hello zebra4o1,
great post, thanks.
i put the cor shares away that i want to hit a home run with in a couple ira's i have, and have never sold them.
i fell kind of stupid for not trading in the ira accounts for the obvious tax advantages, but i just set limits for myself not to touch those shares in case the headlines one day are, cor cures (fill in the blank.)
the only way to profit from the upside is to own them....
thanks again and take care.
Hello Aiming4,
I have posted here when I bought and when I sold, not an easy thing to do, as obviously, we are all wrong, in my case, often, just not yet in Cortex. It is also much easier to lay back and poke at those who do, something I have learned here. I don't even listen to the TV while investing during the day anymore, as I want to rise above it, it helps clear my head. I will post when I sell some, but likely it will be early or late....
Did I dream that you posted that you sold some when it popped to three+ this year? I remember thinking, I should likely do that, but I really thought they were going higher..., so I lost half my profits by waiting, based on my own judgement of where i thought Cortex was going. Not the first time I have done that, I have never sold at the high, as previously posted.
I completely agree that the hardest part is the selling, in any stock. It is hardest when you have a family member, or yourself, suffering from some disease that you would be more than willing to risk side effects on, if only the FDA would let you. (bs, but for another topic)
I am a numbers kind of guy, in grade school when it came time to cover grammar, I would be thinking math. If you want to have some fun, just take 10,000 dollars and earn a slight pop in a stock, any stock, once a week, for two years. Say, 100 weeks at 5% a pop, per week, 4%, 2%, whatever. Those stocks are out there all the time, in bio they grow on trees, then change that 10,000 to whatever it is a person can start with. That is why I like trading stocks, I don't have to hit home runs, but when I find human behavior patterns like Cortex, while I just can't lay off.
Thanks for running such a great board, I remember how excited I was when I found it......and how much I still appreciate the intelligent postings.
hello food4thought,
---You can only make your comparisons to similar scenarios. --
i respectfully disagree, the numbers speak for themselves, no matter what was going on with cortex, the markets in general, the political climate, or any other outside influence. the numbers are, well the numbers. 12 years worth. my opinion.
i did not keep records on cash positions or burn rates, i only loosely follow them. I don't remember cortex ever having 18 months cash when at a yearly low, but that doesn't mean they didn't, just i don't remember it.
by the mere fact they were at a low, one can deduce that things were not looking good. things do not look good now, but they do have cash. i posted earlier that they once went from near .30 to 6.88 in 7 months, i read from the wrong line, it was actually 11 months. my bad and sorry for missing it the first time. still not a bad return. i wonder what investors thought of cortex when it was at .30? i wonder what they thought of cortex 11 months later at 6.88?
i am sorry that your portfolio has taken a hit.
cortex does not need milestones to move, imho, you just read jerrydan saying he watched a blub on cnbc move the price 10% in minutes. i have seen it run up very quickly on a press release. i am hoping they have things in the lab they have not announced. i believe there are many press releases coming in the next 12 months. maybe the next "expert" says that cor is the best thing since sliced bread....i try to buy it when all the press has been bad, or it has drifted lower on low volume for a long time. it is the only way i know how to "buy low."
you are absolutely right that past performance does not mean it will happen again. i am taking the 92% odds that this won't be the 1 in 13 straight years it does not. i believe that history, as far as cortex is concerned, will repeat. i think/hope they will come out with enough interesting technology, that the price will rise. i think that there are thousands of investors that will pile in within 12 months based on whatever the company comes out with. i could be wrong.
if you think the last 12 years numbers are "share price hype," well then ok. not my definition of hype though, those results are facts as reported by a google chart set to "max."
those investors over the years that waited until everything looked great with cortex and bought on highs, either got burned 12 straight years by selling when things went bad, or are likely still holding. those that bought on lows, and were willing to sell on the good news, did not get burned. those are also facts.
i don't know how to make it any clearer, and frankly i am tired of apologizing for it. i am not trying to be conceited, smug, insensitive, or a bully. it is what it is.
of course you are correct that no one here knows the answers to all of your questions.
i wish you the best.
hello gator16,
nice call on this CLDA.
i noticed once that you had posted on stock, mha, and i was wondering if you had kept up with it?
i know this is off topic, hope you don't mind.... private reply is fine if you the time....
again, congrats on this one....
Oh, The Gloom and Doom,
The last time Cortex had a Calender year low hit near .30, it also hit 6.68 7 months later.
Oh yee of little faith, you are banking on Cortex not being able to come back.
They have come back 12 consecutive years in a row off yearly lows.
So in affect you are saying that this time, this time that once again Cortex faces real conflict, is the one in 13th time, that Cortex does not recover.
Are you kidding? You can argue the fine points all day long, and I am sure you will, but I think you give too much credit to the average investor.
Anyway, 12 months without having to worry about cash, then still having 6 months in the bank. They are smart, they want their research to continue, they will find a way, imho.
They have a 100%, 12 consecutive year track record, of coming back nicely from a yearly low.
Rise above the clouds, become dispassionate, just look at the share price over TWELVE years. GET A GRIP.
Some will say they are not quite there yet on the low, but with 2.5 months to go this year, I argue they are close, and if they haven't quite reached it yet, then at least one of us will be buying all he can.
Welcome to the real world of Cortex investing.
Below is a partial reprint from post 11088:
The first Date/Price is the lowest reported price for each Calendar year, followed by the highest reported price within the following 12 months. (note I think google uses week end, or some measurement because it only reports 2.97 for 2007 high, when we all know it was over 3 for a least a day)
Cortex has been very profitable to those that can stomach the heartaches, grit their teeth, buy/add when perceiving a yearly low, and selling on the pops.
Obviously, on most of these yearly lows, investors did not think highly of Cortex, some likely thought they were going under, management sucked, you name it. Not unlike the current environment imho........
Nov. 95= 2.75, Feb. 96 = 7.25 3 months +4.50 share
Oct. 96 = 2.62, Nov. 96 = 5.12 1 month. +2.50 share
Dec 97 = 1.68, May 98 = 2.43 5 months. +0.75 share
Nov 98 = .375, June 99 = 1.20 7 months +0.83 share
Apr 99 = .281, Mar 00 = 6.68 11 months +6.40 share
Jan 00 = 1.34, Mar 00 = 6.68 2 months +5.34 share
Apr 01 = 1.62, May 01 = 3.21 1 month +1.59 share
Dec 02 = .60, Sept 03 = 4.47 9 months +3.86 Share
Mar 03 = .61, Sept 03 = 4.47 7 months +3.85 share
Aug 04 = 1.65, Jan 05 = 2.85 5 months +1.20 share
Apr 05 = 1.07, Mar 06 = 5.50 11 months +4.43 share
Dec 06 = 1.25, May 07 = 2.97 5 months +1.72 share
hello haysaw, i am sorry that my posts came across that way, and I can only say the arrogance and gloating that you saw was not intentional.
i believe that i would likely have interpreted them the same way.
please accept my apologies.
Ouch, Sorry and I am sure you speak for many.
Private reply may have been better, but he was responding publicly to a post that took a good while for me to put together, based on investing in Cortex at a yearly low, and was meant for all readers of this board, including those considering Cortex.
If you think it is easy to go against the tide in this game, well, all I can say that you are mistaken. It is easy to go alone with "group think."
Again, sorry for your loss, hope it's only paper at this point.
hello davidal66, excellent piece.
i can only wish i could express things as eloquently, but i just didn't get those genes, (my brother did, near photographic memory on everything he has ever read
by "From what I've heard, Rodman is ready for bear."
do you mean like "loaded for bear" as in hostile takeovers?
are they looking to take more active roles in their financing projects?
are they becoming more like venture capitalists?
hello asuhowe, I am really hoping that I am right on the low, but even if I am not, I am buying on dips from here for sure, all I can, but not anything i can't afford to lose.
best lesson i ever learned in bio investing was centacor, (i think that was the name,) from 50+ to 5+. i swore then that i would try to pick them near lows. Cor has been good to me, but I have never sold it at the exact top, but I have been fortunate enough to buy them near the bottom a bunch of times.
i thought i had bought near the bottom this year avg. in at 1.14 early on. listened to the presentation where cortex sounded so sure that the fda hold would be lifted, so i held through that event, very happy, then assumed, like the rest of us, that the ind would be approved.
the luck this year was that I wanted to be in mostly cash through Oct. I sold off almost all of my positions but Cor, which was by far my largest, and a couple/few others that were down, and posted so on ihub......
anyway, i slept on it, thought about the upside being only about 1.90 if approved, and the downside being about a buck if not. it was jmho. so there i was sitting on profit at 1.70, wanting to be in cash anyway, and the risk reward in cor just looked weak going forward to me on that day. so i figured, take my profit, if i miss a cor run, i know it will drop back, it always, in my mind, does......
i would have to go back and look at my posts to see my exact wording about cor's cash levels during past lows. They get creamed somewhat each time they do a financing, of course, but this seemed different.
I think it is more that I have seen Cor work wonders with money in the bank so many times, that them not having to even worry about funding for a year, was always a bullish sign for me, and then still having 6 months back up in the bank, well I sure don't remember them being in that good of shape at a yearly low, but I don't have hard numbers as I never kept any.
Hello mlkr, I don't exactly know, but I got all they had offered pre-market at 1.00, which was 2100 shares, and then I had an order in for 5000 at .92, but I don't remember how many actually went through, so somewhere between those two prices, not much, very small trade, sold in the first minute. I have done a lot of trading lately.
Surf has done great work not just here on CRGN, but on over 150+ other boards as well, imho he will likely make another good decision here, but he would be the first to tell you to own a basket of these type stocks, and has posted so many times.
As for as Cortex goes, I just published this over on that board last night and if you had bought it at/near the Calendar year low, you would have done really well, in any of the last 12 years.
Problem of course, is, is are we at that low?
Buying Cortex At The Yearly Low
Patco, Thanks and whew, I thought I had missed something.
This is why I keep saying I think COR is a screaming buy right now. It is because of their 12 months cash before even worrying about an estimated 6 month reserve of cash.
Cor has been VERY resilient over the years, I feel like I know it like the back of my hand, not the technology, but the share price action and how great they are about coming out with new mousetraps, and how humans will pile in when they think they can profit from it.
I put a list together showing a year by CALENDAR year low, starting in Sept. 1995, (this is as far back as my google chart would go on “max”,) and the highest price Cortex reached within the following 12 months.
The first Date/Price is the lowest reported price for each Calendar year, followed by the highest reported price within the following 12 months. (note I think google uses week end, or some measurement because it only reports 2.97 for 2007 high, when we all know it was over 3 for a least a day)
IMHO we are within a few months, or may have already hit 2007’s low, (I am thinking it may drift lower on low volume, but who knows, so I have been building a position in case it goes up from here.)
Of course few are going to buy at the EXACT low, or sell at the EXACT high, but Cortex has been very profitable to those that can stomach the heartaches, grit their teeth, buy/add when perceiving a yearly low, and selling on the pops. I put my money where my big mouth is, and I am hoping to profit from Cortex going forward, should they be able to continue this pattern.
Obviously, on most of these yearly lows, investors did not think highly of Cortex, some likely thought they were going under, management sucked, you name it. Not unlike the current environment imho........
Nov. 95= 2.75, Feb. 96 = 7.25 3 months +4.50 share
Oct. 96 = 2.62, Nov. 96 = 5.12 1 month. +2.50 share
Dec 97 = 1.68, May 98 = 2.43 5 months. +0.75 share
Nov 98 = .375, June 99 = 1.20 7 months +0.83 share
Apr 99 = .281, Mar 00 = 6.68 11 months +6.40 share
Jan 00 = 1.34, Mar 00 = 6.68 2 months +5.34 share
Apr 01 = 1.62, May 01 = 3.21 1 month +1.59 share
Dec 02 = .60, Sept 03 = 4.47 9 months +3.86 Share
Mar 03 = .61, Sept 03 = 4.47 7 months +3.85 share
Aug 04 = 1.65, Jan 05 = 2.85 5 months +1.20 share
Apr 05 = 1.07, Mar 06 = 5.50 11 months +4.43 share
Dec 06 = 1.25, May 07 = 2.97 5 months +1.72 share
Going back 12 YEARS COR produced OUTSTANDING results for those buying/adding at, or near, the yearly low.
I am tired tonight so I may have messed up a number or two, but I think I got them all up there correctly.
Anyway, take care and fun with those cars……
All the "Gurus" had given up on Cortex many times over the years as it approached, or was at, its calander year low.
I don't see this time any different. Heck they didn't even have ampakines back in the old days and you could still make a bundle buying this one at/near the yearly low.
Maybe they will get it right this time, and will sell the company. Just watch someone try to go into the open market and buy 20-30 million shares of Cortex, on no news days, and watch what happens to our price, 50 dollars a share????? Oops, but that would execute just how many warrants, and how much more would Cortex get in the bank, extending their need to go to the markets???? These are not stupid people.
Someone may have tried and get a head start by picking up a million or two shares the other day, as a couple million shares seemed to change hands near .65-.68 a share, with little movement, just buying all they could, as sellers were running for the exits.
No, they would negotiate a sale price and settle from there. My problem with that is, is that I have always viewed Cortex people as University type researchers. They love and protect their research above a lot of other things, and funding for that research, well, like most University research comes in a never ending quest to continue for the improvement of mankind.
I guess they could sell the company, and then just open another called braintex..... but there would be no compete clauses...ugg,
Cortex is VERY resilient, imho, their stock price is much higher sometime within the next 12 months.....
Buying Cortex At The Yearly Low
Patco, Thanks and whew, I thought I had missed something.
This is why I keep saying I think COR is a screaming buy right now. It is because of their 12 months cash before even worrying about an estimated 6 month reserve of cash.
Cor has been VERY resilient over the years, I feel like I know it like the back of my hand, not the technology, but the share price action and how great they are about coming out with new mousetraps, and how humans will pile in when they think they can profit from it.
I put a list together showing a year by CALENDAR year low, starting in Sept. 1995, (this is as far back as my google chart would go on “max”,) and the highest price Cortex reached within the following 12 months.
The first Date/Price is the lowest reported price for each Calendar year, followed by the highest reported price within the following 12 months. (note I think google uses week end, or some measurement because it only reports 2.97 for 2007 high, when we all know it was over 3 for a least a day)
IMHO we are within a few months, or may have already hit 2007’s low, (I am thinking it may drift lower on low volume, but who knows, so I have been building a position in case it goes up from here.)
Of course few are going to buy at the EXACT low, or sell at the EXACT high, but Cortex has been very profitable to those that can stomach the heartaches, grit their teeth, buy/add when perceiving a yearly low, and selling on the pops. I put my money where my big mouth is, and I am hoping to profit from Cortex going forward, should they be able to continue this pattern.
Obviously, on most of these yearly lows, investors did not think highly of Cortex, some likely thought they were going under, management sucked, you name it. Not unlike the current environment imho........
Nov. 95= 2.75, Feb. 96 = 7.25 3 months +4.50 share
Oct. 96 = 2.62, Nov. 96 = 5.12 1 month. +2.50 share
Dec 97 = 1.68, May 98 = 2.43 5 months. +0.75 share
Nov 98 = .375, June 99 = 1.20 7 months +0.83 share
Apr 99 = .281, Mar 00 = 6.68 11 months +6.40 share
Jan 00 = 1.34, Mar 00 = 6.68 2 months +5.34 share
Apr 01 = 1.62, May 01 = 3.21 1 month +1.59 share
Dec 02 = .60, Sept 03 = 4.47 9 months +3.86 Share
Mar 03 = .61, Sept 03 = 4.47 7 months +3.85 share
Aug 04 = 1.65, Jan 05 = 2.85 5 months +1.20 share
Apr 05 = 1.07, Mar 06 = 5.50 11 months +4.43 share
Dec 06 = 1.25, May 07 = 2.97 5 months +1.72 share
Going back 12 YEARS COR produced OUTSTANDING results for those buying/adding at, or near, the yearly low.
I am tired tonight so I may have messed up a number or two, but I think I got them all up there correctly.
Anyway, take care and fun with those cars…….
Patco, I was hoping for more like 18 months cash...... thinking they will be conserving....
Well, I was asked directly and tried to answer directly.
And I don't disagree there was a lot of luck involved, often....
Some people just can't sell, I never could when I was younger, now I can.... often too early
Were you really unlucky, or could you have sold some, I mean if you are going to dish it out, why the heck didn't you take some off the table?????
Sorry it comes off as cocky.....and sorry you got stuck with so many shares.
One tip, you might want to change your standing sell order to 1.99, to get ahead of all those that might be in at two. I am serious, if it only hits two during a spike and there are others before you in line, or your broker is slow, then 1.99 might get you out.....
Patco, 15-17 years knowing cor, never losing money on it during those years, watching it bounce back, and not being afraid to sell. you have to buy this one low, imho...think that's less then 100 words....plus 18 million in the bank and a lot of smart people working there....sorry, i talk a lot....
Heck Aiming, I sold and i didn't see an outright rejection coming, only a delay at most. Like with the pipe, completely blindsided, and the pipe should have been the heads up.
I think a lot of us just didn't want to be without shares should the morning have come where the headline was a BP deal, or FDA ok. At least that is why I held mine as long as I did after the lifting of the FDA hold. I am guessing I wasn't alone. The only way to experience the upside in one of these things, is you have to own it........
i still say cor bounces back, maybe some more clouds first, but it has always bounced and it usually didn't have 18 million in the bank coming of horrid news...
hello joecotton, good points, but does anyone here remember, just in the last month, an article that went back and looked at what happened to companies that tried to go through the appeals process with the FDA?
I have looked for in on Barron's site, which is where I thought I had read it, and also WSJ.com, but I can not find it.
The article was really an eye opener for me. Basically it killed the companies that tried, or at least the ones sited.
if i can find it, i will post here.
take care.....
Agreed, I had forgotten some of those. No reason for that here, you can private message that kind of stuff if you really need to vent.....
I agree Aiming4, I had no problem with Jim H's position that he thought management got to many options, but I did feel like he just kept repeating the same thing time and time again. I understood his position clearly, and I think most did, but I also liked his many posts with different opinions, and told him so. I wish he would come back.
I took plenty of heat for selling before the FDA decision, and most were understanding of that, but those that just took my head off, well, you kept the posts civil, and I thank you for that. I imagine it was not easy since you were so long in the stock.
I tend to get excited when I am buying or selling, something I miss when just holding long, and I do it a lot.
Anyone who has read my recent posts knows that I think Cor is a screaming, and I mean screaming, buy at these levels, but I will try to tone down the redundancy of those posts as well.
Thanks again.
Still in buying with both fists, at all I can under .80, think I might be done for the day. Nice recovery + 18% as of this writing, on anybody that was able to hold on yesterday. It could not have been easy...
Will bounce around some today, mm's may do a shake out, but to those that are selling, I will still be buying near these levels.
GLTU
Will do, Thanks again, looks like crgn is moving a tad this am.
Thanks surf, the up volume was looking a little weak to me, so i took my profit. I am still interested in it because it seems like such a good one to trade, with its volatility of late. Like it is trying to recoup, but just can't quite get there.....
Hello Surf, I sold this on Tuesday for a small gain, and I was wondering if you were still holding it through the conference?
Thanks again.
Cortex Makes Bloomberg Ticker
Right now, on the one line ticker on Bloomberg TV, where they report news headlines like, JP Morgan cutting employees, Countrywide bad loans rise, Turkey recalls Ambassador, you know, today's big headlines, well "Cortex Shares Fall On Failed FDA xxxx", is going across.
I have seen it 3 times now, I timed this last one at 8 minutes between seeing it, and I didn't get the exact wording, but Cortex doesn't make Bloomberg/CNBC often so I thought I would mention it.
Sorry for the longs it didn't go the other way, that shares were way up, but now it may get Cor some extra notice to see they have other "irons in the fire."
ugg, jddividends, i am so sorry that this one went south on you today. it was gut wrenching to read your post, and know that you had so much riding on COR.
The first of cor's "worst case scenario's" might be the one that saves its backside. it now has money in the bank going forward, and i would guess that the company would slow up its burn rate to stretch that cash as far as it can, giving it time to recover/invent/push/test, or try to improve its outlook any way it can.
you likely know all this, but if your employer has a 401k plan, that is a great place to build up a stake, if you can't max the contribution, you should make at least the amount of contribution that you employer would then match, (give you free money,) even if they only match a certain %, it's still free money they are just giving you, once you are vested. and the government won't even tax you on the money going in, it comes out of your paycheck pretax....one of the best deals the gov has given the average working person, imho......
i really think your motivation to be in the market is dead on correct, often when real estate goes south, the market goes north, as people shift their money from one investment vehicle to the next.
pat yourself on the back for trying, there are a lot of stocks out there with bright futures. call me crazy, but right now, at these prices, when the world hates it, i think cor's future looks good, and i have invested heavily in it today.
anyway, this likely would have been better sent privately, but so many are bleeding today, that maybe aiming4 will let it go.
gltu
hello vsualyzprofits-- However, I bought more instead of selling any of my present position.
i think your years have brought you wisdom to dollar cost average down today, and in many other ways as well.
gltu.
hello atlshrug, i can only speak from my own experiences with cor. i think we are near a bottom. they have a year, or now, likely, they will be more careful with their burn rate, maybe 18 months before they run out of cash.
in my experience with cor, that is more than long enough to come out with plenty of "press releases" about mice in the labs, monkeys in the trees, or whatever. They are university people/researchers, imho, and i have always looked at them as such, and they will find ideas that are promising for the public to fall in behind.
i am sorry if this sounds crude, but it is just how i have always looked at cor.
with new ideas comes people who will finance promising sounding "research." over the years george soros has done it, vanguard has invested, there will be others, imho.
for exact science look to others on this board, there are plenty of good people,
is it a lock, no way, have i ever been disappointed by buying cortex near a low? no i have not.
i sold Cor recently to stay mostly in cash this Oct, and I still want to be 50% or so in cash, so I sold a few losers today as well as buy Cor, and if it dips in coming days, I will buy more.