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Not quite high enough for a massive short squeeze, though.
Wow!
Date Short Interest Percent Change Average Daily Share Volume Days to Cover
03/14/2014 15,610,186 51.84 11,996,271 1.30
I don't anticipate PPHM will settle for anything. The suit is completely without merit. Agreed that it could interfere with a sale of the company. But at this point, IF a deal was being contemplated, they could just wait it out until it gets dismissed. It could also be a sticking point with partners. Some institutional portfolio managers might not like seeing it reported on quarterlies and annuals either. The sooner it goes away, the better, imo. Probably in May.
CA are meaningless! ... Just my experience with them.
I mean ... worst case scenario ... PPHM will end up settling for no more than 10m USD.
This is how CA works. Plaintiff layears start aksing 10000000m .... and then they will end up settling for sub 10m ammounts.
If you put the 10m into perspective ... that's nothing for PPHM ...
CA ... imo ... plays a role .. only if King has already reached an agreement to sell the company. In that case ... the buyer would require PPHM to settle with the CA first.
Look at OCZ ... for example. It settled with the CA ... prior going into BK .. and being bought out by Toshiba.
The most interesting thing about Yervoy is the story of Medarex. I see many similarities with PPHM.
Two possible catalyst dates coming for the CA. Tomorrow is the date for the plaintiff to respond to the motion to dismiss. Unlikely that they will just drop it unless they fear the judge issuing sanctions for a frivolous suit. (Apparently sanctions are rare) May 5th is the scheduled hearing date on the dismissal, and unless the judge deviates from his own previous rulings, the case should be dismissed with prejudice. All imo, of course. I am not a lawyer.
Very silly, Wook. Everyone knows that the good homes are constructed of wood chips and glue.
Kinda like, I am buying that home even though I know the builder is really making it out of paper and glue. That would be silly....right.
REALITY CHECK POLL:
For those with an investment history in clinical stage biotechs, is there anything particularly unusual about the price action in the past month vs PPHM's past and present peers in the sector?
I vote no. Significant volatility/variance is the rule rather than the exception.
How about maintenance requirements? This would appear to be the ideal range to force hands. Maybe not terribly significant, but since this is pick your theory Monday....
WOW, that is some "V" today...if in fact this drop is attributed to whole market and tree shakers taking advantage of the day.
Sorry, the Koch Brothers, in fact, control the climate and are colluding with the planet to make it defy Global Warming predictions.
Yes that's the ticket. Management wants cheap options. They are causing the entire biotech sector to go down. Look at the IBB. Look at all the indexes. Management controls Putin. Management controls Obama. Management causes Arctic Vortexes. Management causes Global Warming. Those rascals!
At least $1.92 is better than $1.82. Let's see if the Gap Analysis theory has any merit.
Open Gaps
Direction Date range
up Mar-05-2014 1.92 to 1.98
up Jan-06-2014 1.45 to 1.64
But how does management influence the PPS?
If I had to pick a theory I would say that there are just too many shares available to jerk with.
Ha, you haven't been paying attention then. When the price goes down, it is because management wants to get their options on the cheap. wink
Wasn't there a gap at 1.82?
Either way, no gain or loss unless you close a position.
We have officially given up all the gains from 3/5 where we went from 1.98 to 2.88.
Weird how the price held well above $2 through options expiration but opens to a big fade on Monday.
Good thing there is a theory for everything.
Not sure what this one is yet.
Question is how long the plaintiff can drag this frivolous action out with impunity. Court rules provide for judicial sanctions, but reality seems to be they are seldom imposed. The most recent Motion to dismiss is compelling, so either way, the CA should be disposed of in May at latest.
The plaintiff in the CA suit has until EOD Wednesday to file any further response. If none, it should wrap up fairly quickly (I hope).
I suspect HFT algos had something to do with the 36mm trading volume. The question is a matter of degree and how much distortion.
"They" also surely have the power to "churn up" 36 million shares over two days to create an atmosphere that will work to their advantage....ie creating questions of this SEC violation and that illegal insider trading....
Maybe not quite ripe to sell right now, but $2.5B would seem to be a good number on the near horizon. All imo, of course.
Are you serious? A buyout price of $6? Peregrine can easily get $6 right now, at this moment, or roughly $1B, with the problem being, it's undervalued!
Unable to close at $2.00. (Max Pain)
Just sayin...
Good weekend all!
Is there any way to separate HFT from beneficial shares on a high volume day? The phantom shares that HFT creates never existed in the first place.
And in all cases, CT or NOT, there is no way they would not have to report when they have 5% of the shares....
.....If it is off-shore distributed share build up, ten no need and no possibility for a CT.
Depends on how many of those shares were "beneficial" and how many were algos and day traders, imo.
36 million shares traded both days give or take a few hundred .
so explain to me in plain english what you think is happening
is somebody holding these shares and is able to hide it year on year
Head fake before the break?
Final disposition, imo, depends on how long the slip-and-fall-wannabe lawyer will hang in there hoping for a settlement, i.e. payoff, to stop being a disruptive nuisance. Other than the unremarkable claim that "A chimeric antibody is named after a chimera, the Greek mythological fire-breathing female monster, with a lion’s head, a goat’s body, and a serpent’s tail." The SAC added nothing new of substance and instead is essentially a rehash of the theories the judge has already rejected. Peregrine has, in fact, already requested a hearing on May 5th, so that would appear to be the end of this nonsense unless the plaintiff's lawyer has reason to fear sanctions for frivolous or vexatious process if she shows up once again pleading a case that the judge has already twice rejected.
Re: the class action suit: The parties agreed to the following, so it would seem unlikely this would be settled before late April at the earliest, and most probably in May as stipulated.
Only 15% Institutional Ownership. How much of the remaining 85% are in the hands of "buy and hold" retail longs? It's probably ebb and flow and that there is a large number of shares free for market makers, hedge funds, and day traders to jerk with. All imo.
Like EBS says, if no form 13s and no earth shattering news, one has to wonder what it was all about. Is the market figuring it out or is this just natural ebb and flow.
Current PPS may be disappointing to some, but volatility should be expected on the way up. It's never a straight line, and the only way you "give up gains" is if you close your position.
Drug approval is a long and sometimes frustrating process for investors. Think Medarex/ipilimumab, which was not without its share of hedge fund shenanigans and misplaced "reporting" by the "financial media."
9400 Shares @ $2.27 AH with trades posting all over the place. Games, nothing more, nothing less. All imo, if course. Good evening all!
Just my humble opinion: there is significant variance in the PPS of clinical stage biotech companies for all the reasons stated below and then some. A linear chart would be highly unusual. You get lots of zigs and zags - potentially profitable if you're a day trader, but for long investors, inconsequential vs future peak sales expectations unless there is a significant negative event.
You are deluding yourself if you believe this has anything to do with "stats" or "numbers backing it up" not appearing in the PR. It is manipulation, gamesmanship and sowing of FUD, plain and simple. It is apparently working its intended effect on you, as your comment indicates you are starting to have doubts. Why are you having doubts? Because of what the PR stated or because of what the stock price is doing this afternoon? If the pps was up 50 cents, you would be thinking the PR was fantastic, correct? You would not be overanalyzing what was in it. This is proof that the FUD and market manipulation is having its intended effect.
There's always a reason, but it probably has nothing to do with the company.
Any reason for this 20% collapse?
Dropped it to $2.15 and then got away from that price real fast. Happens all the time in an orderly market.
MM's fishing for stop-losses?????????
I believe the technical term for this type of trading pattern is "shenanigans."
The five minute price/volume chart chart tells the story. Let the price run in the morning, then short, short, short. Bring the price down and start cover buying.
OT: Thank you, Sir. An invention of my own. The state of the "financial media" is so utterly pathetic that all one can do is laugh.
Piker Bear Raid: Epic Fail.
Media shills sink further into the wasteland of total irrelevance.
If so, well done sir. The message may never have been so eloquently and factually stated. It's pretty much what I hear anytime someone says the words, Jim Cramer, TheStreet.com, CNBC, Adam Feuerstein, Roy Friedman, Sally Church, Jason Napodano, Patrick Crutcher and really any mainstream news network on TV these days.
Animal vaccines are a $6B market. A nice incremental opportunity at the very least.
I can't get excited over an article that talks about animal studies.
Okay so where is this headline? ;)
Piker Bear Raid: Epic Fail.
Media shills sink further into the wasteland of total irrelevance.
Funny how third rate self described "analysts" with access to the news ticker are suddenly squawking about irrelevant metrics like ROE and quarterly earnings (while ignoring backlog for the year).
Weak.
Hmm...why in the world would Zachs release old news (with a misleading headline) into a positive PR and premarket buying this morning?
Can't believe the Zachs PR this morning. Pathetic.
And perhaps big health care funds who have scientists for analysts. SK speaks fluent Lab Rat, which is exactly what is needed at this stage to sell the company's value proposition.
Amongst those who look at the science and "get it" are the Big Pharmas. They know PPHM has the goods, and KNOWS it has the goods.
Hmm.. AH action. $2.46
I guess someone wanted to top off the tank.
43 shares after hours at YOU GOT IT.....$2.40.....
Also some with science backgrounds, MDs, PhDs, etc, in addition to finance.
remember the audience...investors and brokers...
Odd price action, especially in the afternoon. Was someone getting a large order filled? Where are our L3 gurus?
My read too. He's been beat up pretty good in the media, and it sounds like he feels vindicated. Something is coming...
All imo, of course.
It is apparent SK once again feels like he is in the driver's seat -
Something is driving his enthusiasm and delivery. Well done, SK.
He's doing great!!! Sounds like liver trial is going to knock it out if the park.