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Will do Chevy! What does it tell you when from pphm mgmt only SK and Fussey take part in the employee discount program and King does not even fully to boot! The average price was $1.08! Why don't Lytle, Worsley, Shan, Marstan and Zeisball participate? They surely must report if they have to report the free options that are given to do them at shareholders expense? They should all be eligible unless they are consultants. Sure doesn't instill confidence in the company does it when the stock is still down considerably and current price is $1.48 yet mgmt will not buy stock at $1.08? HMMMM.
Back by popular demand just to make sure newbies are aware of the total story and events that actually happened so that they may make their own investment decision. Courtesy of Corp.
All of the following took place under the current management team and, in my opinion, is why we are at where we are.
The $50 million dollar DIOS deal that was perpetrated on Wall Street by this crew, May, 2007.
http://ir.peregrineinc.com/releasedetail.cfm?ReleaseID=266038
The reverse split to stay Nasdaq compliant, October, 2009.
http://ir.peregrineinc.com/releasedetail.cfm?ReleaseID=416393
The Stason "deal", May 2010.
http://www.biospace.com/news_story.aspx?StoryID=178872
The 80%, one day drop in the pps due to "major discrepancies"
http://ir.peregrineinc.com/releasedetail.cfm?ReleaseID=708954
Outstanding shares on September 30, 2009, 45m. Outstanding shares current, 180m. Dilution by a factor of 4 and no end in sight.
Insider ownership, less than one percent.
Chairman of the Board of Directors.
http://ir.peregrineinc.com/directors.cfm
Most of these things are in the past but they all matter. It is how the company is judged. Putting out a pr about bird flu or ebola when they are hot to get a quick, temporary bump in the share price is not viewed in a positive light. Mentioning that you are in partnership talks for over ten years and not having anything to show for it is not good. Switching from King to Worsley in mentioning partners does nothing. King is likely too embarrassed to say it any more. Good for him.
Maybe this post should be a sticky that people can be referred to anytime somebody asks why another company is where it is at in relation to PPHM.
I realize that none of the above matters to many here, but it matters to Wall Street and institutional investors. It is why the pps is what it is and the institutional holdings are what they are. The pps means nothing to many here, that's fine. It does mean something to me. I am currently slightly under water on this stock and I would like to make some money on it. I guess 2017 is our year.
Also, this is the qualifications of our handpicked COB courtesy of Corp.
"The Board of Directors concluded that Mr. Johnson should serve as a director in light of the extensive public company finance experience that he has obtained through serving on the boards and audit committees of Patriot Scientific Corporation, CryoPort, Inc. and Ecotality, Inc."
Patriot Scientific closed yesterday at .04.
Ecotality, is currently in bankruptcy,
Cryoport, the crown jewel with a $27m market cap, closed at .42, down from $9.30 in 2010.
That is our leader and those are his qualifications.
CP, if the above is the case, why would Peregrine put in slide #28 with a note on the side saying "aimed to add shareholder value"? If they know this is not the venue for such data, or if the PRs are minimized as they were, why insult shareholders once again? Steve King set the expectation in Slide #28 at the ASM. Another dangling carrot for shareholders? King's integrity continues to take a hit in my opinion.
Unfortunately this has been the pattern of mgmt and wall street is no longer buying it as the lack of credibility is apparent.
Great post lemmy! The Shorts sure don't seem to be worried about any blockbuster news soon! What's left on slide28 after three aims and misses?
What is so strange? Sk stated that they would be releasing very promising data and then they released today's news. There are only so many times you can cry wolf before losing all credibility.
What.a surprise down to 1.51 after blockbuster news. Guess Wall Street is on to the company who cries we are in talks.
Classic! Cross off another catalyst from the 2009 update list. Slide 28 from the shareholders meeting is running out of milestones except for the one that was supposed to happen in 2009. Dead money for a long time.
WOW! Chris Keenan up real early this morning we now have a PR at 7:46am to really shake things up!
Nice correct assessment Carboat! The instituional percenatage is a joke and has not increased significantly over the years even though we use to sell pipes to "institutional" investors and now preferred shares and we have been spreading the word at conferences for years. Of course the BOD is a big red flag indicator. Not only do they have a penny stock history they now have a botched trial on their resume regardless of whose fault it actually turns out to be. The milestones on slide 28 are looking to be non events as usual except if we actually get a partnership that has been in talks for 10 years. Back to hoping we get back in the $1.50's during this 10 year downtrend.
$444 million for a phase 1 drug?
Bavi is in phase 3, Avid possibilities, and Cotara potential. Not to mention $70 M in cash. What is wrong with this picture?
Maybe they were in talks 20 years ago. SK has just been in talks for 10 years. The story used to be wait till Bavi gets to phase II. Now it is in Phase III and yet other companies are getting deals in Phase 1. Our Brilliant mgmt team after all has a penny stock pedigree. You are what you look like even if you are getting compensated like a fortune 500 company.
Carlton Johnson was appointed by our BOD to be COB. Enough said.
THLD had about 50 million shares outstanding before the partnership and then went from $1.32 to $8.80 which increased the market cap by 374 million.
Using pphm's 179 million outstanding shares that will get the share price to a whoppin $3.69 using the same analogy.
It is however very exciting times as we know from the shareholders meeting that pphm has moved from "we are in talks" to "active discussions". The share price reflects that enthusiasm.
Things really get interesting if you take away the secret 97 million shares that are stored in a secret account. Reality is then that there are really only 82 million shares outstanding.
Wasn't November 4th the date that kept getting thrown out several weeks ago by a poster on this board?
As in "just wait till 11/4"?
Lots of dates and deadlines get thrown out not just by posters but by mgmt. SK said he hoped to have a partner before phase III protocols for Cotara and BAVI. SK also said he hoped to have a commercial product by mid 2012 etc....
Looks list there is great anticipation for the upcoming data which is another catalyst that will be crossed off the list. Sadly the milestones in slide 28 from the shareholders meeting aimed at increasing shareholder value are having as much effect as the 2009 catalyst list and the secret 97 million share holdings if one actually believes in that unsubstantiated wild theory.
As we drift back down in to $1.52 in our 10 year downtrend just remember we are very lucky not to be $50 now and you still have an opportunity to purchase at these bargain prices before more secret shares are gobbled up.
Finally SK said that it would be PR'd. He also said that they are still trying to find the right person(s) to expand the board...
Does this guy ever speak in 100% truth? It has been four years since and they still haven't found the right person(s) for the board. Kind of like crying we are in talks for years.
Heres a great summary of that shareholders meeting in 2010.
SHM Q & A
Brandon Cox asked where the FDA was at regarding Biosimilars. SK said that regulations are in place in Europe, and the company is evaluating which compounds are best for us to take on. Garnick said that Obama's healthcare act provides for biosimilars and that the FDA will be holding a meeting soon to address this. He doesn't think they have to think about it too much, just copy Europe. He said that one of the difficulties that we face is that ALL of the patents on a drug must have expired - not just the original patent, but all of the add-on patents on use, formulation, etc., and this is difficult to figure out. Of course, the drug companies will not cooperate, they don't want you to know. Garnick later said that he thinks the FDA will require companies to publish the final patent expiration date for their compounds. He said that this is evolving quickly.
Roy Alzua asked about the vacant chairman of the board position, and we were told for the first time that Carlton Johnson was the new chairman. Roy said something like 'Was this PR'd? Don't you think that this is a material event?' This was met with a lot of confusion among the board members and officers, with everyone looking at everyone else for an embarrassingly long period of time. Finally SK said that it would be PR'd. He also said that they are still trying to find the right person(s) to expand the board...
As long as I'm on this subject, in an earlier conversation with Brandon Roy, I was bitching about our inbred BOD, and he said that next year he intends to nominate two names for positions on the BOD: his own and Rob Garnick's. He later asked Rob if he would serve if drafted; he chuckled and said he'd make a terrible CEO, but didn't say no. I REALLY hope that Brandon follows through with this - he's got my vote.
Someone asked a question about the process and criteria used to evaluate all of the IST proposals that we are getting. Garovoy said that there is a form on the website that lists all of the questions that need to be answered. We then evaluate the proposal for our interests, and then it's up to the institution to submit all of the paperwork, etc.
Someone asked about whether our intention with Cotara was to partner it or go it alone. SK reiterated that our goal is to bring our data to the FDA to set a clear pathway to approval - then Cotara will be partnerable.
A shareholder asked about the number of outstanding shares. PL said that as of September 1st, the number was 56 million. The shareholder pointed out that that that amounted to 10% dilution since the reverse split. PL allowed that that was true, but said that the ATM is really the best way to finance on-going operations until we are profitable. With the ATM, the company gets 98% of the proceeds, as opposed to a 10% or 20% discount with pipes.
It was also mentioned that we have applied for a government grant under section 48D that would be worth 5 million. We should be hearing about that soon.
After the Q & A, a group of shareholders were talking to Garnick about biosimilars, and he was pointing out the need and the difficulty of exactly matching someone else's compound. His example was imagine reproducing a 747 by disassembling it and copying each piece. I asked him what the approval process would be, once you were convinced that you had an exact duplicate compound. He said that you would have to do a small phI to prove safety, but would be able to skip the phII, since you already know that the compound is efficacious. Then you would need to do a phIII with about 450 to 1000 patients to prove that the compound is not different from the original.
That wrapped up the SHM. For what it's worth, here are a few of my impressions and observations. There were no armed guards at the meeting this year. SK, PL, and even Charlton Johnson seemed very relaxed and much less wooden in their presentations than a few years ago. Maybe they are growing into their jobs. That said, I was very disappointed with the appointment of Johnson to the chairman position. I really hope that Brandon Cox follows through on his intentions. He mentioned trying to contact Chris Smith (? I think that's the share holder who used to submit shareholder proposals each year) to pick his brain and learn from his experience. If anyone knows how to contact Chris, let Brandon know.
In the past, ES has sat though the shm looking totally bored. This year, he brought his laptop with him, and spent the entire time playing with it, probably monitoring his other investments. David Pohl looked over his shoulder a lot.
Overall, I'm impressed with the quality of people that the company is adding to the management team, and the job that they are doing. During the introductions at the beginning of the meeting, there was another ex-Genentec doctor that was introduced. Unfortunately, I didn't get his name.
After the SHM, I had some time to kill before my flight home, so I drove by the company just to see if anything had changed. There is (was) a company across from Avid called ABM Janitorial. They still have their name on the building, but it has been removed from the sign that lists the businesses in the business park where PPHM and Avid are located. As I sat in the parking lot eating lunch and reading a book, there was a lot of foot traffic between the ABM building and PPHM/Avid. this is PURE SPECULATION on my part, but maybe Avid is expanding and this is part of what SK meant by strategically preparing for potential product commercialization.
Michael
Hard to argue with those points. Who can forget when they announced CJ as COB at the shareholders meeting and had to be told that it was a material event and had to PR? It is beyond belief that was and continues to be our COB.
Corp. You make some extremely valid points. To me the kicker is appointing Carlton Johnson as COB.
Again I did not say the DIOS deal was a hoax. The DIOS deal did not make any money for shareholders regardless if you believe it was real or not. The events and PR did happen. The one penny drop at the end of the day was discussed for a long time on this board as another conspiracy theory. The Stason deal did not make shareholders any money. In 10 years if you discount DIOS and Stason then what deals has SK and Mary Boyd accomplished? These events will go away if mgmt just accomplishes a partnership like they have said they want to. They wanted a partner before the phase III protocols and that didn't happen. They said they want a partner within the upcoming year which we give it March 2015 since it was said in March 2014 I believe. Lets get it done already.
I hope you are not cancelling our date when pphm hits five dollars (of course I hope we both are still living and it is not because of another reverse split). Just tired of endless hopium and backing of a mgmt team that to date over the last 10 years that has not produced shareholder value and yet continues to collect bonuses and cheaper stock options at shareholders expense. I don't see how adding more qualified members to the BOD would hurt the company and I am pretty sure it would increase the share price while we are trying to raise money. Hopefully soon!
No matter how you spin it while we have been in talks for years Stason and DIOS are the main deals this mgmt team has made and they have not increased shareholder value along with our subsidiary in China (any updates on that?). You can also include the great Medipharm heist that has also been a bonanza for shareholders. Zeisball going on two years and Worsley now one year. Maybe they are going for Mary Boyd and SK's record. The BOD and mgmt's record speak for itself as does their association with penny stocks. I have not accused pphm or mgmt of any wrong doing. Just like they can decide on their own if they believe IR when they said mgmt was pulling out of a conference for personal family reasons and then the company came out with the tainted data PR. I am sure that was just a coincidence. The links speak for themselves and people should make up their own mind. More information is better rather than just connecting dots. Now all mgmt has to do is secure that astronomical partership and they they will be put on a pedestal.
Well yesterday the Dow was up over 100 points, the IBB hit an all time high and another catalyst for pphm was crossed off the 2009 newbie list and our CEO has said we tend to flow with the ebb of the market and yet PPHM was down 1.89%. So I guess we shall see what today brings as history has taught us our CEO words are meaningless and we usually only flow with the ebb of the market when the market is down. Here's hoping that today will be the day that are "active" discussions become reality.
LOL! The post will be posted every time a Catalyst list from 2009 is posted to provide balance. Every thing is supported by links not connect the dots or theories or 10 paragraphs of fiction writing. One can make up their own mind. I see no argument about our BOD's documented success in running penny stocks.
Just to make sure newbies are aware of the total story and events that actually happened so that they may make their own investment decision. Courtesy of Corp.
All of the following took place under the current management team and, in my opinion, is why we are at where we are.
The $50 million dollar DIOS hoax that was perpetrated on Wall Street by this crew, May, 2007.
http://ir.peregrineinc.com/releasedetail.cfm?ReleaseID=266038
The reverse split to stay Nasdaq compliant, October, 2009.
http://ir.peregrineinc.com/releasedetail.cfm?ReleaseID=416393
The Stason "deal", May 2010.
http://www.biospace.com/news_story.aspx?StoryID=178872
The 80%, one day drop in the pps due to "major discrepancies"
http://ir.peregrineinc.com/releasedetail.cfm?ReleaseID=708954
Outstanding shares on September 30, 2009, 45m. Outstanding shares current, 180m. Dilution by a factor of 4 and no end in sight.
Insider ownership, less than one percent.
Chairman of the Board of Directors.
http://ir.peregrineinc.com/directors.cfm
Most of these things are in the past but they all matter. It is how the company is judged. Putting out a pr about bird flu or ebola when they are hot to get a quick, temporary bump in the share price is not viewed in a positive light. Mentioning that you are in partnership talks for over ten years and not having anything to show for it is not good. Switching from King to Worsley in mentioning partners does nothing. King is likely too embarrassed to say it any more. Good for him.
Maybe this post should be a sticky that people can be referred to anytime somebody asks why another company is where it is at in relation to PPHM.
I realize that none of the above matters to many here, but it matters to Wall Street and institutional investors. It is why the pps is what it is and the institutional holdings are what they are. The pps means nothing to many here, that's fine. It does mean something to me. I am currently slightly under water on this stock and I would like to make some money on it. I guess 2017 is our year.
Also, this is the qualifications of our handpicked COB courtesy of Corp.
"The Board of Directors concluded that Mr. Johnson should serve as a director in light of the extensive public company finance experience that he has obtained through serving on the boards and audit committees of Patriot Scientific Corporation, CryoPort, Inc. and Ecotality, Inc."
Patriot Scientific closed yesterday at .0409.
Ecotality, currently in bankruptcy, closed yesterday at .0091. Less than a penny. On the bright side, that is up almost 50% from the day before.
Cryport, the crown jewel with a $27m market cap, closed at .45, down from $9.30 in 2010.
That is our leader and those are his qualifications.
And if it went up 79% would you then finally give a thumbs up or maybe a half-thumbs up (not sure how to do that)? What would make you change your handle to Unfrustrated and we could all live in perfect harmony together singing kumbayas under the PPHM apple tree?
Well actually it would have to go up roughly 200% from current level just to get even after 10 years. Lets take baby steps first.
Fiduciary Duty is maximizing shareholder value for the longterm, not the short term and not any specific individuals terms.
LOL! Yep down 79.7% over 10 years is really maximizing shareholder value.
IBB has once again hit an all time high today while PPHM despite another catalyst that was PR'd today remains in its 10 year downtrend under this brilliant mgmt team. Down over 50% from 5 years ago and over 70% from the infamous DIOS PR.
Again this is the qualifications of our handpicked COB courtesy of Corp.
http://ir.peregrineinc.com/directors.cfm
As for this, "The Board of Directors concluded that Mr. Johnson should serve as a director in light of the extensive public company finance experience that he has obtained through serving on the boards and audit committees of Patriot Scientific Corporation, CryoPort, Inc. and Ecotality, Inc."
Patriot Scientific closed yesterday at .0409.
Ecotality, currently in bankruptcy, closed yesterday at .0091. Less than a penny. On the bright side, that is up almost 50% from the day before.
Cryport, the crown jewel with a $27m market cap, closed at .45, down from $9.30 in 2010.
That is our leader and those are his qualifications.
Cross off another non event catalyst from the Catalyst list which is still waiting for the 2009 mentioned BAVI or COTARA partnership.
On the plus side at least the stock is up from when the PR was announced instead of the usual 8am hype in which the stock goes up so buddies can short and then the stock closes at low of the day. Time will tell today.
That is one impressive resume pointed out by Corp for our COB Carlton Johnson. Glad he is getting to the bottom of things and in charge of pphm especially after great results from his other endeavors. Starting to get why ES picked CJ out of all the possibilities.
LOL! Yeah mgmt and IR doesn't read these boards. Nice to see PR finally put out a PR after 8am even though it is not earth shattering as an EBOLA PR.
Corp, great summary about the actions of our BOD and how the same brilliant BOD is running the show. No need to connect the dots it is all there. Interesting that the price in 2007 was over $5 which means this brilliant mgmt team has us down about 70% in 7 years. Also notice that they are capable of releasing a PR other than 8am if they really want to move the stock price. Makes you wonder who they are catering to with their 8am PR's.
. Why hasn't our BoD be standing before a Judge and be sentenced if their was a SHADY deal.
BECAUSE IF THERE WAS A SHADY DEAL THEN WITHOUT THE BEGINNING OF A DOUBT THE DIOS PEOPLE MUST HAVE KNOWN IT BECAUSE THEY ARE THE PROCLAIMED VICTIMS OF THAT IMAGINARY SHADY DEAL AND AS GOOD BUSINESSMEN WOULD HAVE TAKEN ACTION AND BE MADE HOLE, WOULDN'T THEY ?
The same way the alleged leader of the "sabotage" deal is not in jail! It has been over two years now and yet CJ has not gotten to the bottom yet and no arrests have been made? Maybe the allege saboteur has the same lawyer as our BOD? Of course I am not implying anything.
When we least expect it PPHM will be north of 500M MC. Then north of 5/share. After that week of holding 5/share PPHM will rocket!
Yes and that is much better than being $100 now! Yeah thats the ticket.
Under the terms of the agreement, Bristol-Myers Squibb will make payments aggregating to $50 million that consist of an option fee for the right to acquire F-star Alpha Ltd.,
Wasn't our deal with DIOS potentially up to 50 million dollars? Whatever happened with that? What about Medipharm?
It is very easy to look at past performance and say "if they had done this then" or "if they had done that then".
Kind of like a Frustrated investor saying "if they had run the ATM at $3 instead of at $1.85".
Yes it is kind of a no brainer to know you should have run the ATM at $3 instead of $1.85 especially when $3 is better than the preffered offering. 60 million shares were traded. Kind of a no brainer if you are the CFO of the company and know you will continually need money to sell ATM when the share price rises especially if it is a better deal than your preferred offering! This mistake has not been a one time event.
So the max gain is comparable. And if PPHM had licensed Bavi at those terms, and Bavi was nimo. PPHM would now be trading over $100.
Well, that is why shareholders are so lucky we are not at $100 now. You can still buy shares in the $1.50's. Mgmt has done a brilliant job in allowing shareholders to accumulate large holdings. Why would anyone want to be $100 now? Good thing talks for the last 10 years have gone nowhere. Thank goodness Zeisball and Worsley haven't been more successful than King. Perhaps soon though as we are now in "active" discussions as opposed to we are in "talks".
Thanks Wook! Saves some typing time!
IBB once again hit an all time high today yet while BP is offering all kinds of partnerships to other companies they continue for some reason to just want to lowball pphm who has been in talks for years and now in "active" discussions. PPHM making another "move" to the downside today as it continues its 10 year down trend. Looks like bigh expectations for quality of data to be released this week.
PPHMM THE COMPANY THAT CRIES WE ARE IN TALKS! All imo.
It would not frustrate me
If a 9:30 announcement came an caught 14mm in the trap.
Just say'n.
Never happen. Unless of course friends of mgmt want it to happen and have planned accordingly. Mgmt could have trapped a lot of people with an 9:30am Ebola PR instead of 8am. Why do you thing Lytle did not sell ATM shares during the 60 million share trade days in March which would have been better for shareholders than selling the preferred shares? Did he not know it was going to take years before money coming in? Did he think pphm never was going to need money again? We shall see if Lytle sold any ATM shares in this quarter in December. This is last week of quarter I am sure they will PR something so Lytle can sell more ATM shares. Makes you think who mgmt is catering to?
PPHM THE COMPANY THAT CRIES WE ARE IN TALKS.
8am once again has come and gone so we will not be able to cross off the BAVI and Cotara 2009 potential catalyst from the list. I guess pphm is the only company that BP is low balling with offers as deals are being made left and right. Yeah thats the ticket. Lets see in two years Zeisball no deals, in one year Worsely no deals, in 10 years King well we know he is in talks, and Mary Boyd.....
PPHM THE COMPANY THAT CRIES WE ARE IN TALKS! All imo.
Great summary Corp. Thanks! It's nice to see things laid out with facts and verifiable links that support the facts not connect the dots or six degrees of separation in which you have to make assumptions. Nice to see how we actually got 70 million in the bank thru 4x dilution and not the work of a brilliant mgmt team all the while they collect lower priced options diverting their dilution and yet still receive bonuses. It is amazing that in a 10 year down turn and being down 50% from the reverse split five years ago that this mgmt team through their own words with little experience in bringing a drug to the market stays in its current configuration with a three member penny stock board all with ties to each other.
PPHM THE COMPANY THAT CRIES WE ARE IN TALKS! All imo.
Good post IFU. I also highly doubt that the ATM is not in usage at all. That would imply that not one single ATM has been sold since the preferred shares. We all know that has not been the case in the past and probably is not the case right now. To say it with certainty is just plain silly especially due to mgmt's history. I guess you can say it until earnings report in December but with end of quarter next week it is highly likely they sold ATM shares on the ebola PR. On the plus side it is great to see this "move" to $1.50 ahead of the big data announcement next week.
PPHM THE COMPANY THAT CRIES WE ARE IN TALKS! All imo.
Thanks Corp! Great Post! This post should be a sticky since it contains actual facts with links to back it up. Imagine that actual facts, no connect the dots, no 6 degrees of separation, no theories or conspiracies. Just plain facts. Every newbie should be aware of this. In fact, I believe it should be posted every time the 2009 catalyst is posted. It really is incredulous how this same BOD and mgmt team has lasted so long. Especially in light of the over 50% decline over 5 years and the even greater loss over 10 years.
PPHM THE COMPANY THAT CRIES WE ARE IN TALKS! All imo.