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Agreed geo; no debt is the only reason why I even continue to follow PPHM (besides, of course, the science).
FWIW: because I'm trading PPHM on a strict TA basis, I made my first purchase in a VERY long time of PPHM on Friday afternoon. It closed above a moving average that I monitor very closely. As I've mentioned here previously, I'm just looking, through trading, to get some of thousands of lost $ back on this security.
Uncommunicative PPHM management: cretins.
JR: Unless someone has gone through an experience where a stock has been in a death grip of a powerful short entity, it's difficult to make a convincing argument for such a phenomenon.
I ask the board: research a now defunct company called Metricom (symbol: MCOM). It had something called Richocet technology. I've mentioned this on the board before: it was the only technology working on 9/11 in the midst of the Twin Towers rubble.
Paul Allen (co-founder of MSFT) had a huge stake in MCOM. It went under: a targeted short.
PPHM, I've always feared, is on a similar radar screen.
Up until this issue, there may have been employees who wouldn't benefit much from a pps run up.
PPHM insiders at timing when insider trading restrictions may have prevented....
Again, plausible, possible scenarios. But as usual, so much conjecture here precisely due to the point that some of us are making: PPHM management keeps us in the dark as a regular routine.
It's wearisome to read about "maybe," "perhaps," "it's possible that..." from intelligent posters trying to glean from tea leaves what management, if it would be more communicative, should be informing it's shareholders.
How about the answer to one simple question: How, after years of hearing from Steve King, that "this" would be the year that the market would recognize PPHM's true value,HOW and WHY are we sitting at a less than 10 cent share price pre-split?
Washington's behavior is actually a good parallel for this board. The American people think that their leaders are much smarter than they are. Some on this forum think that the executives and board of PPHM are a lot smarter than the intelligent posters here.
Both assumptions, I fear, are terribly wrong.
geo....you're wasting your valuable time.
"There's none so blind as those who will not see."
By now any management that respects itself.....
I've read posts and posters on this Board for 12 years. There have only been a few proofs among these posters that there are more horses' patoots in the world than there are horses. Most posters have been bled dry. Some are very articulate about the science; others about the business side of things and others both. These posters, as I've said before, due to their obvious intelligence kept me clinging year after year to a security "story" that has been largely created by this board. The narrative was created out of necessity, because the cretins who run this company have always kept the retail investor in the dark. From why they decided to bring clinical trials to Georgia or India to why they decided to release the most recent lousy PR surprise (oh yeah, surprises build confidence!) WITH the announcement of a new 150 million shelf.
Now we've these knowledgeable and insightful posters articulating perfectly fine and hope-inspiring scenarios for why were are sitting here with a share price less that 9.5 cents pre-split. The cycle of creative theoretical explanations is repeating itself.
Let's do ourselves a favor: until the share price actually proves a positive, let's not contribute to possible future bitter disappointments. None of us, bottom line, has ANY reason to trust this company's officers or its board.
As I've said before, one of my major mistakes was listening to the VERY intelligent people on this Board and their ideas regarding Peregrine. I assumed that the management was at least as intelligent. I found out that either
(1) they're not as intelligent as the great posters here OR
(2) they're criminals who have bilked the retail investor -- contemptuously -- for a VERY long time.
"Mgmt seems to be afraid of accountability or oversight. Why?"
Until proven wrong, I'll assume because we're dealing, MOST probably, with a cabal of criminals. Unfortunately, the stock market is one of those places where proof is almost impossible to acquire (unless the government takes up the case).
Nothing, and I mean NOTHING, adds up when it comes to PPHM.
Hoping it's setting up for a close below my RSI Bollinger Band (43 cents). Bullish divergences are building. That's the good news. The bad news is that a 53 cent price target would be my expectation without a passel of good news. I'm not even certain it's worth playing.
Again, all IMO.
funworker: I have a difficult time believing that, after all of Thorpes work, Bavituximab will be demonstrated to be useless.
The cretins who run this company, however, appear to have an agenda that is antithetical to the retail crowd. I think we're going to be shocked at the audaciousness of the plan concocted by this management and Board team to completely screw the retail investor.
May I be proven wrong.
FWIW Department: A couple of TA indicators have developed a month-long bullish divergence, but another key indicator seems to have been turned away at the 50 day MA. Still wouldn't be surprised if we get a bit of a run here (note: BIT of a run).
Note: the lower Bollinger Band is 47 cents, and it's possible we close below it before the possible snap back. If we do, that will modify the numbers in the next paragraph.
As of now, if we break 55 cents I'd look for a run to 65 cents. Those prices are so pathetic,I'm embarrassed to mention them. I only post this in case some are inclined to trade for a bit of money recovering and find it marginally helpful -- and that's all: this is NOT market advice.
FWIW, JR, as you know, the numbers keep changing with the charts over time. However, if it were today, I'd start to nibble above 94 cents; and make a more committed trade above $1.05. Above $1.63 I'd throw everything I have at it anticipating a potential major move.
alvaroc, is there any reason......ANY reason.....why after years of one disappointment after another, with the pre-split share price at TWELVE CENTS, that there exists ANY reason why anyone should believe an iota of Steve King's utterances? He, Garnick, Shan et al. are all being paid on the retail investor's dime (thanks to dilution -- past, present and future).
Would you bet against the $150 million shelf not being activated?
No criticism of you; just my frustration.
swg_tdr: thank you -- and the best to you as well. Reading this Board, I realize, is what kept me in the PPHM game for so long. Posters like you, cjgaddy, entdoc, FreetheMice, RRdog, et al. have a tremendous aptitude for visionary analysis regarding Bavi and Cotara (we won't even mention Avid). One begins to think that the management MUST be mirroring what these fine investors are articulating. We only discover, over time, that these PPHM investors are actually more savvy and intelligent than management -- otherwise our non-diluted pps would NOT be FOURTEEN CENTS!
This management team has done nothing but disappoint; I see no evidence that they have either the skill or the will to do differently in the future. I won't accuse them of fraud (though the question concerning their ATM selling to investors when they had this Friday information in front of them is bothersome) but I do wonder. What's more frightening is the possibility that they're just plain stupid; why didn't they hold off with the Friday PR till the CC when they could have explained the results in some kind of context?
As I said, I've been out for some months. But I admit to being bitterly disappointed that, after more than 11 years of investing and re-investing hard earned capital with these arrogant cretins who run PPHM, there's simply "no there there" when it comes to return.
Good luck to you and all the fine investors here.
EYEBUYSTOX: By even positing such logical questions, you give a management team which has depressed the stock price to a pre-split 14 CENTS far more credit than they deserve. They are either idiots, criminals, arrogant cretins (or a combination of all three).
"I am still very concerned about the possibility that the company issued and sold more new shares through the ATM in February knowing yesterday's NSCLC data. So the 'seller' of the stock knew something that was not made public, something that the buyer could not possibily know. PP sold 6M shares in a very weird high trading volume period in Feb. No one could explain the trading volume."
- From Another Board.
Loof: 14 CENTS!!!! (eom)
cjdaddy: there are few posters who I respect more than you. However, I've read these snippets ad nauseam for years on this site. In the end, investors are left with a pre-split worth to our shares of less than 14 cents: 14 CENTS!!!!
I bailed months ago. But I still had hopes that I could recoup some of my $. I no longer believe this. And all the anecdotal snippets in the world will, unfortunately, not change this reality.
Good luck to you and all the well-intentioned investors in this company run by arrogant cretins.
The nearly year-long build of positive divergences in the technical indicators on the weekly charts were eliminated today.
Announcing a $150 million new shelf on a day when such news is released exhibits a type of management hubris that is almost unimaginable. It reminds me of the time at a CC when management openly snickered at a question by a retail investor complaining about a lack of progress in attaining the company's stated goals.
I appreciate entdoc's reminder that these results were from poor souls whose cancer had metastasized. But it doesn't erase the contempt which management displays toward the retail investor. They are able to issue options (like the 89 cent ones for their employees) because thousands of retail investors have lost tens of millions of dollars due to their ineptness which has been liberally laced with their arrogance.
As for Mr. King: if any of us here made as many broken promises as to "this being the year" for PPHM as he has, we'd not have jobs. He and the others are unmitigated disasters. Let's face it: King's "word" is meaningless.
Management's contemptuousness today and for more than a decade should give the retail investor all the data he needs to conclude that, even if Bavi and Cotara are great successes, management and insiders will benefit at the expense of the retail investor.
P.S. Honest question: why do we hear nothing more from India and Georgia?
FWIW Department: On the WEEKLY charts, there are MANY flashing positive divergences on the technical indicators. (Volgoat --please feel free to chime in and educate me if necessary). A close this week above 97 cents (at least that's the # as of today) would be very bullish.
I HATE to get hopes up: but I'm hoping.
Wook, I don't know how to explain it (but I've not been able to explain MUCH of what's happened in this company since 2000). But here's my plan. Since 2000, PPHM has registered nothing but lower highs (see chart). IF $3.10 is broken, that pattern will be broken. I'll be more interested in a longer term buy.
Good luck to you. I want to believe. But I have no reason to do so at this time.
Wook, NOTHING is firm with this company. It has shown us nothing. The retail investor has carried this company -- without an ounce of thanks -- since its inception. I've lost tens of thousands of dollars on their consistently broken promises. ALL MY FAULT -- NO ONE ELSE'S.
So, I live and learn. When we break the 150 SMA, I'll go in and purchase heavily with a %age upside target. I just want some of my $ back. I've moved on. But good luck to all longs. May your hearts not be broken.
We are far from any kind of excitement stage. Just follow a very simple formula: the 150 SMA. If you want to see how pathetic this security has been, take a gander: http://tinyurl.com/7pqomqq
When we get above $1.15, I'll get interested -- for a quick trade.
And to you as well, Sunstar, and to all here.
Hayward, I agree. It doesn't make sense. Institutional investors are over 25% (I think I've read here). For all I know they know the company that will buy out PPHM and the price -- and they may be in PPHM for a juicy slice of the company which will pick up Bavi and the rest of the patents. Cynical? Yeh, I guess. But 11 years of being invested in this company (until very recently) has made me that way.
I've mentioned before that I once invested heavily in a company called Metricom. It had a technology that was amazing for its time (and was the only communications technology working around the Twin Towers after their collapse on 9/11 -- and this was AFTER Metricom went belly-up). Paul Allen of Microsoft fame was a MAJOR investor. Yet, they decided to fold the company and sold off the technology for a pittance. The retail investor got nothing. Zero. So, yes, I'm cynical, because on Wall Street motives are far from transparent and sometimes downright mystifying.
That being said, remember my last sentence of the previous post: "Either they have something (and they KNOW they have it and therefore are not even making an attempt at communication) or.... (fill in the blank)."
As I've stated previously here, I'm hoping to pick up this company in the 50 cent range and hope to get some of my lost money back.
It is by far the most frustrating investment I've ever owned.
Should get a bounce soon:
(1) Share price closed below its RSI 5 and RSI 14 lower Bollinger Bands;
(2) Slight bullish divergence on a TA indicator that I follow on the Weekly chart and have found fairly reliable.
BUT, long term -- simply looking at the charts -- nothing looks good. For those who deny that TA can be useful for small cap companies, a quick reminder:
"Given where the market's heading, there are people who still own this company and who want out before a dive that will shock many here (I think we're both looking at the same potential chart pattern that's been building since October of last year)." (September 22, 2011)
"The PPHM chart just broke through (to the downside) a Descending Triangle that dates back to the end of 2008...Unfortunately, if we have the market tank which I believe still awaits us, I cannot see how PPHM escapes a final slaughter of the share price." (September 29, 2011) PPHM closed at $1.09 that day. We're 22% lower today.
The inexperienced Board has been unable to do anything but dilute the retail shareholder -- despite the pipeline, patents, Avid, etc. Either they have something (and they KNOW they have it and therefore are not even making an attempt at communication) or.... (fill in the blank).
Cheynew, it could be just as easily argued that management doesn't care about the number of shorts because they know they have something and the shorts will propel the share price with a short squeeze if there's a surprise announcement (partnering, Phase testing results, etc.).
Perhaps I'm giving management even the possibility of too much credit.
CP:
You said: "No ATM means more short opportunity in such a market."
My question: Who the hell is shorting a $ 1.09 stock and for what purpose?
TIA.
The PPHM chart just broke through (to the downside) a Descending Triangle that dates back to the end of 2008. I believe it’s an all-time price low.
The Bad News: PPHM just broke through (to the downside) a Descending Triangle that dates back to the end of 2008. By taking the target measurement, we'll be far below $0.
The Good News: Given that there's no reason to presume that we'll be out of business, perhaps there's the possibility that this is a head fake or overthrow, and that we'll rally from here.
Unfortunately, if we have the market tank which I believe still awaits us, I cannot see how PPHM escapes a final slaughter of the share price. Of course, PPHM could rally as the market is tanking. But given past experience, few would bet on that scenario.
geo, if you read through my posts over the years, you know I have not been a persistent management basher (although I have, at times, expressed exasperation and frustration). However, I'm certain there are small investors like myself who lost approximately $30K of hard earned $ in this investment because of management's many stumblings (albeit, this particular management isn't responsible for the majority of it), and who could no longer WAIT for this company to fulfill it's serial breaking of promises (i.e. "THIS year will be a great year for investors...."; "We're in talks with partners....." etc. etc.). I had to move on because I'm entering retirement age and this company, which I had placed high hopes upon to give me a comfortable retirement, simply wasn't delivering on the one thing that matters: share price.
I agree with positive posters like RRdog, CloakedProtector, entdoc and cjdaddy. I think the company has something. But I think it's been frittered away by a management that does not understand Wall Street. AND THAT, folks, is where our bread and butter is.
I have increasing doubts that this company will deliver 5% of what I thought it once would. It will be sold and at a price and agreement which benefits management; the retail investor will be screwed.
I hope -- fervently -- that you will come back in a year and make me eat crow. I don't think you will, but I still hope.
Volgoat: it's a Catch 22. Given where the market's heading, there are people who still own this company and who want out before a dive that will shock many here (I think we're both looking at the same potential chart pattern that's been building since October of last year). BUT, if news breaks before the market disaster that seems to be looming, the stock could take off without them (after many have held for nearly a decade or more and have had this company hemorrhage their investment). It's a helluva "between a rock and a hard place" position.
Before I sold, I had built up a modest position of 40,000 shares which began in late 1999. I began buying with the stock in the pre-split $3-$4 range. So I well understand the discontent of posters here against a management that has been so indifferent to retail shareholders as to actually laugh at expressed investment pain during a quarterly conference about four years ago, to the arrogance of answering few questions to none at other conferences.
I'm looking to buy heavily after the shocking dive I'm expecting due to the global economic crisis. But I don't think I'll ever get my money back. This company will be forced to sell at a price that, given our expectations, will deliver it's own "shock and awe" to shareholders.
I pray that I'll still be proven wrong.
Not trying to be a wise ass here. But my impression is that, compared to the expectations we had a year or two ago, the Bavi mechanism has not yielded results which would indicate a true game-changing technology. The results are good, but not revolutionary. I remember being truly excited about Bavi being able to switch on the body's immune system in such a way that we might actually have something which would be indispensable in the assault against cancer and viruses. It seems that we've been reduced to minor improvements in statistical test results when compared against Avastin (yes, I understand the cancer was of a far more difficult variety than what Avastin was tested against, as well as Bavi having far fewer negative side effects). But, the bottom line impression is that the tone of the Board about what we have has changed; the excitement has been diminished.
If my impression is wrong, I would like to be corrected.
Many thanks.
swg_tdr,
Looking at that 10 month trend line break, is it possible that it was the first (false) break of an ascending triangle formation?
Many thanks! (What a way to [TRY] to make money!)
Sean
Thought I'd drop back in after selling awhile ago. I continue to drop in and read what's going on. Looking at the chart, there's nothing between here and a 10 month trend line around $1.80 (where I suspect they're gonna take it). There is a small short-term positive divergence in a key technical indicator that I use, but I don't think it's enough to save it from the final plunge that I think will occur in a general market sell-off. Between $1.75 and $1.80 I'll think about getting back in for a trade.
Separating myself from this company after 10 years was not an easy thing to do. I still have hope in the science, but at 60+, hope cannot make money needed for retirement. I wasted 10 good years thinking this company and its science was the ticket to a very nice nest egg. I'm still tempted to dwell on the anger that I feel toward the complete indifference to shareholders by management throughout those 10 years, but life is too short.
My best to all -- especially swing trader and geocappy. It's good to see some new and apparently very knowledgeable posters added to the board.
Sean
Questions for the scientific and business model aficionados on this Board. I'm not certain any of them can be answered, but even taking a stab at them would be helpful.
(1) Am I correct in assuming that, based upon the "planned" second half of the year meeting with the FDA regarding Cotara, that the earliest possible commercialization of the product would not be until 2013/2014 at the earliest?
(2) Given the status of where Bavituximab is at the moment, what would be a realistic projection for a product ready for commercialization?
(3) Is it your impression that PPHM is still seriously interested in biosimilars? Correct me if I'm wrong, but I don't remember hearing much about them lately in terms of PPHM's future plans. Was this just a throwaway line during a particular quarterly report?
(4) King said at the end of the conference yesterday, We are gearing up for what we expect to be a robust flow of clinical data reports throughout the rest of this year and into next year. This represents significant opportunities for potential value creation over the coming year...." Realistically, what is the meaning of the phrase, "significant opportunities for potential value creation"?
I know there are unknowns such as partnering and regional licensing, etc. But these unknowns have been speculated on for the 11 years that I've owned this company; at this point, I see no evidence that would indicate that this management has such plans.
These questions I ask because I was in my late 40s when I invested in this company; I'm now 60. I've lost a lot of $ in PPHM by holding and not selling during this time. Given the present economic environment and my age, I'm considering putting the money to work elsewhere. I thought originally that this company would provide a fine nest egg for my retirement. I think it still will for many here, but I'm not certain I've the time to find out.
I read RRdog's fine post the other day; he remains optimistic despite everything (as I do about the potential science). But he implies that they've made $ trading this company. Perhaps that should be considered by some of us for whom time has become a consideration. Volgoat and Swingtrader are fine technicians and could be valuable community contributors alerting us to any significant technical signals. Trading this security using technical analysis would by no means be foolproof, but it can't be any worse than holding for years and seeing time and money dissipate.
I need to say this: thank you to all on this board who take the time to keep us updated on the science and business implications of press releases. Without this Board, many of us would be lost due to the scarcity of information from management. I think management is doing their best, but I've begun to think that they really might be in over their heads. That doesn't mean that I don't think they'll be ultimately successful; I just don't know if I have the luxury of time to find out.
Thanks for your thoughts ahead of time.
Sean
swg tdr: Many thanks for your constructive comments. The weekly charts, to me, are more positive than the daily charts.
The Bollinger Bands are not constricted, but they appear to be tightening.
Would very much enjoy seeing your charting analysis on a regular basis.
Sean
The charts offer no conclusive clues as to price direction for PPHM. Just a few observations:
(1) The daily Bollinger Bands are tightening.
(2) The Weekly chart has recently achieved a bullish crossover of two moving averages that I follow for a significant movement in price.
(3) The last two times these crossovers occurred, the share price of PPHM more than doubled on one occasion and rose 30% on another.
Mark this under "FWIW."
Sean
swing trader: please see post #60727.