Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Maybe the Oldtimers are really NAVB executives and the reason there are so few Oldtimers posts these days is that they have farked up the company and shareprice so much that there is nothing to say.
The Crede deal is the best evidence of all that the company is working against its own share price and loyal investors. They do nothing to promote company stock and hired an IR firm many months ago that has done nothing. I certainly see why the decreases in pay were appropriate, but I still maintain that the decreases should have been closer to 60% instead of 10%. The restraint of the Oldtimers when they post at present is astounding to me. There are many on the Yahoo board that have some excellent ideas for justice with NAVB and I fully agree with them.
The next earnings report better be around $550K or we were lied to AGAIN!
At this rate, NAVB did not need the new Celgene board member - they need to board up the windows instead.
I wish Crede would remove Navidea altogether from their website. They post the company name and trademark of each company that they invest in and portray themselves as sooooooo beneficial to the companies they deal with. BS! If I had the resources to do this myself, I would:
I would start a vicious smear campaign online warning any and all investors anywhere who hear of a deal with Crede and a company that they themselves are invested in, to immediately exit that stock and buy in 50% lower. What happened here is disgusting and WE ARE STILL PAYING FOR IT. All of the rosy discussion about the future potential of the pps is BS! Crede is still harming the retail investor! I hope the continuing nonsense we have seen for the past 7 months is shoved in the company's face at the next shareholder meeting.
After watching this poor performance for 6 months now, almost 7, and given the fact that March 24th has come and gone with no hint of upward movement north of $2.00, I have come to believe that $3.00 is exceedingly unlikely in 2014 and perhaps ever again. The company has flubbed up since the woefully wasteful GE loan and toxic Crede deal and made it worse by misleading their investors that Crede paid 2.84 per unit, when in fact, 2.11 was the correct figure.
The short interest is so big, it makes me wonder if the biggest short/s have known for years in advance that a PR is coming someday that the company has abandoned RIGS altogether or that the FDA will reverse itself on the approval of Lymphoseek. If neither of these terrible events ever happen, something huge and negative could seemingly be on the horizon this year (or the shorts would have covered between 1.13 and 2.00). No huge kick in the face comparable to these two potential scenarios will surprise me in 2014 or 2015. I used to believe in this company. A huge surprise to me is that no shareholder lawsuits have been filed since we hit 1.13 and have struggled to be a 2.00 stock. I think they could come - and the company seems not to give a damn.
I have always said with NAVB, "Expect the unexpected." Well, I never expected any decline to last like this and become permanent as we see no evidence of a real turnaround. Why did the pps get pushed up to 2.00 yesterday? The company let a few folks know that a PR was coming out today so that they could buy up shares and flip them above 2.00. Unfortunately for the unlucky buyers after 2PM yesterday, the pps is back to sub-garbage levels now.
I want to know what the significance of the Celgene Board member is. Enough of the bleeding and suffering - sell the company!
MAJOR MANAGEMENT CHANGES ARE NEEDED and would probably turn this situation around quite rapidly. If only.
Excellent post. Crede is not our friend and never intended to be.
I posted even worse things about our beloved management team months ago. I hope they are aware of the extreme investor discontent that they have thoughtlessly created. It's never too late for investors to deal with garbage management like the chuckleheaded farks at Navidea.
With such weakness in price action everyday, I have to ask how in the heck we're even going to have a run going into the June PDUFA date on 6/16. The short interest update from yesterday showed that 548,000 shares were covered from 3/1 through 3/15...but we're down today.
Some people read the 10K and think RIGS is on the furthest back burner...
If the company gives a damn about shareholder value (and it CERTAINLY appears that they DO NOT), then they need to do more than hire new Board members and spend corporate money on meaningless presentations. They need better results and they need to communicate said results YESTERDAY.
Unacceptable at present...
GLTA.
One of the things I like the least at this point in my life is being right about the continual decline in NAVB stock? Next stop 1.74? The company really hurt us all with the Crede deal. They ruined investor opinion and company sentiment and have yet to fix it. They also said they expected EU Approval by the end of the quarter...another unrealized projection. Thanks Pykett, Tulip, and Larson!
Can NAVB see 2.01 today with this morning's PR, or does the stock revisit the 1.80s or lower?
What a surprise. Crede gets the maximum 3.6 million shares AND Platinum-Montaur has many millions more shares to hold down NAVB. EMA approval is months away. WONDERFUL!
I never hate being right about anything more than poor performance of NAVB stock...2.03 X 2.04...PATHETIC!
The news is good, but I will be surprised if NAVB trades 10,000 shares at 2.10 tomorrow or trades at 2.11 at all. Even the AH pps is slipping. Something tells me that 2.04 X 2.05 is about as strong as we will see...hope to be wrong though LOL.
GLTA.
Welcome JFalse...The timing of this downgrade in spite of all the good news Navidea has had recently (and also expects to have within 100 calendar days) makes me think Zacks just got a big buck from Crede.
Unless Zacks knows something we don't, the downgrade seems unwarranted at this time.
Thoughts?
I like the timing of the Seeking Alpha article from today. It puts some very relevant chatter out there about company pipeline and potential that offers upward momentum for the stock price right when Crede doesn't want it. A few more positive articles and catalyst developments in the next two weeks and Crede will not be getting 3.6 million shares at 2.00 like they are working like hell to make happen.
Tomorrow's opening should be very telling. Every penny above 2.00 that the stock is trading at on March 22nd when the warrant conversion is calculated, reduces the number or shares they get by approximately 18,000 shares.
At 2.00, they get approximately 3,600,000 shares.
At 2.01, they get shares 3,582,089 shares.
At 2.02, they get 3,564,356 shares and so on...
If anyone disagrees with this calculation, please speak up.
Wouldn't a surprise update that the FDA is awarding special status to RIGS be more than welcome news right about now? LOL.
GLTA.
Something else - the company is now projecting Lymphoseek sales for 2014 to be between 5 and 6 million dollars. This could mean that the next quarterly report could easily be in the $600K-$750K range and the next report will be coming in May-June. Maybe the stock gets back toward 2.50-2.75 by then with catalyst activity and increasing sales.
I agree that the shorts will not go quietly. I also believe that if we are seeing any short covering in the next 3 weeks, it rams it to Crede as the shares they get on the warrants will be a smaller number every cent we go above 2.00. If the company can get the pps to 3.83 and really ram it to Crede, I'll take back all my negative posts on management...just kidding! LOL.
Nice to see some life in the stock today.
Congratulations to all buyers yesterday under 1.90!
GLTA.
Dr. Pykett sounded frustrated and disappointed that the market has not looked more favorably on NAVB in recent months. He seems to forget that the GE loan cost the company AND SHAREHOLDERS millions of dollars in interest FOR NO GOOD REASON. He also seems unwilling to acknowledge that the Crede deal was also a huge kick in the face to SHAREHOLDERS. As it is, this news that the company plans to accelerate NAV4694 is great. Getting new shareholders will happen when the company can do two things: First, prove that they are responsible with money, NOT JUST THEIR OWN, BUT SHAREHOLDER MONEY AS WELL. The GE loan terms and Crede deal are evidence that he still has much work to do in this regard. Second, start selling Lymphoseek and stop hyping how great it is. Show me bro! I'm from Missouri!
If we find out that we are on the agenda for the March CHMP meeting, this could get interesting real fast. Revenue reported on Friday greater than $432,000 will be significant in my opinion. Revenue substantially less, like around $300,000 is what most are expecting. If it comes in even lower, like $200,000, this too will not be a rude surprise, just rude.
I'm surprised the pps is back to 1.89 and that it saw 1.90 today. I don't expect great revenue on Thursday morning, but the fact that we are holding the upper 1.80s makes me think that the numbers will not be as bad as projected (or some other decent news is coming soon).
If terrible sales numbers come out (which is always a possibility) I will be very surprised that we didn't see massive dumping in the two or three trading days before the 3/6. It often feels like the company shares bad news with their pals in advance to spare them the losses they ram down the rest of our throats.
Crede gets the shares on March 24, based on the pps on March 22. If anyone says differently, please advise. This is how I read the deal.
If Crede gets the maximum 3,834,508 shares at 2.00 (which does seem very likely), it will be interesting to see what PRs Navidea puts out within the two months following March 24th to help their pals at Crede squeeze as much money as possible out of the stock.
This situation is disgusting and shareholders deserved better! If a buyout happens before the end of 2014, I hope Crede is long gone and does not benefit from a buyout - especially if the buyout price turns out to be higher than 2.90. 2.90 is likely the highest price Crede got for any shares when they sold in October 2013.
Imagine the impact on the shareprice IF the following two things happen prior to March 24th:
1. Navidea appears on the CHMP agenda for March and EU approval is granted. (This would also point very clearly to FDA approval and perhaps sooner than June 16th).
2. The sales for Q4 2013 put $500,000 or more into Navidea's coffers. This figure would be more than the Q2 and Q3 2013 amounts combined.
These two events happening before March 24th could potentially make the NAVB pps higher than Crede wants it to be. If both events do not happen, it is a virtual certainty in my mind that Crede will get all warrant shares at 2.00. It will be interesting to see if Navidea is saving a ton of good news for after March 24th to help their pals at Crede make even more guaranteed money, it sure as hell seems like Navidea could give a damn about the retail shareholder.
We should be seeing new short interest information tomorrow. That 4.8 million share day from 2 weeks ago is curious...
IF IF IF EU approval comes in March right before Crede gets their new shares, they might be in for a surprise almost as rude as what Navidea did to its shareholders. The higher the pps that Crede gets the warrant shares for the better.
I'm hoping Crede gets in it the arse if NAVB runs unexpectedly high in the next 3 weeks.
Stranger things have happened with this stock.
GLTA.
What is the significance of a Celgene executive joining the Board of Navidea? Why would this happen? Could this be huge or nothing at all? We need more indians and fewer chiefs at Navidea! We need those already collecting HUGE salaries and GUARANTEED bonuses to earn some of this money and sell more Lymposeek starting yesterday. I have an idea. If The FDA does not approve the expanded label in June AND/OR Europe does not grant full approval of Lymphoseek in 2014, then NO NAVIDEA management gets a dollar in bonuses UNTIL BOTH AGENCIES APPROVE LYMPHOSEEK COMPLETELY! The stock is still under 2.00 even with the FDA June date for Lymphoseek expanded label approval and we still have Crede warrants and lousy Q4 sales to look forward to in a few weeks.
Thanks management!
From the Celgene website:
"Perry A. Karsen is Executive Vice President and Chief Operations Officer at Celgene Corporation. He was appointed Chief Executive Officer of Celgene Cellular Therapeutics (CCT), our placental stem cell research and development division, in May, 2013. Previously, Mr. Karsen was Senior Vice President and Head of Worldwide Business Development at Celgene, and was also responsible for emerging businesses as President, Asia/Pacific Region. From 2009-2010, Mr. Karsen served as President and Chief Executive Officer at Pearl Therapeutics, a privately-held biotechnology company that was subsequently acquired by Astra-Zeneca. He also held executive roles at Human Genome Sciences, Bristol-Myers Squibb, Genentech and Abbott Laboratories. In addition, Mr. Karsen was a General Partner at Pequot Ventures.
Mr. Karsen is a member of the Board of Directors of the Biotechnology Industry Organization (BIO); a member of the Board of Directors of BayBio; and a member of the Board of Directors for the Life Sciences Foundation. He is also a member of the Board of Directors of Agios Pharmaceuticals and Navidea Biopharmaceuticals.
Mr. Karsen has a Masters of Management degree from Northwestern University’s Kellogg Graduate School of Management, a Masters in Teaching of Biology from Duke University, and a B.S. in Biological Sciences from the University of Illinois, Urbana."
If Crede started selling at 2.90 all the way down to 2.11, they made between $3 million and $6 million already. The warrants are a luxury for them. The really really really bad news is that Q4 sales for 2013 will never be good enough and this stock seeing even 2.00 before March 24 seems exceptionally unlikely the way things have been going UNLESS we get European Approval and FDA approval before then.
This could mean that Crede will hold the warrants as the pps is well below 2.00 and will maintain a stranglehold on the pps for months to come. Thanks Pykett!
I am expecting the pps to revisit the 1.40s if sales are below $400,000. Just another great month ahead to look forward to as a Navidea shareholder. When do the lawsuits against the incompetent management start? Afterall, let's not forget, the short interest is holding steady at 18,000,000+ shares.
Good point Cave...when I say sales may be $400K, I actually meant their cut would be $400K.
With my numbers then, total sales would have to be $800K.
I look forward to the day we find out that Navidea can report $800K+ in a quarter as company income from Lymphoseek alone...
Most posters are assuming that Q4 2013 sales will be between $300K and $450K. I agree. All I know is that Q1 sales for 2014 DAMN WELL BETTER BE NORTH OF $700K or the company is outright lying about sales growth month over month. Moreover, they are not headed for a 50% market share with quarterly sales under $500K. The Q1 sales for 2014 which we should get in April or May gosh darn well better be good or lawsuits will be all Pykett can see on his desk.
RIGS has been renamed NAV1800, I'm sure this change is the start of shareholder value accelerating out of control. LOL.
They remain optimistic about Lymphoseek sales potential over the next 12 months.
Hello AKAPAK. I have read your posts on the Oldtimers Board in the past and enjoyed them. The restraint of the Oldtimers is almost puzzling. I'm quite surprised that none of the Oldtimers publicly voice much disgust with the Crede deal and, as of early September 2013, very unexpected major decline in share price. If anything in the pipeline is ever approved with even mediocre sales, NAVB could easily be a $5-$7 stock.
The company might be in better shape than ever, but like DDbuyer has said, the stock is somewhere else.
When do you expect the EU and FDA decisions on Lymphoseek?
FWIW, I liked the Lifetech Capital Morning Note that you posted the link for...but what will it take for the market to notice this company again?
If the next quarterly sales report (Q4 2013) shows sales of $432,000 or more, this will be significant as it is three times the previous quarter sales. Most posters (myself included) do not seem to be expecting anything close to this figure and are expecting an amount closer to $300,000. There is some speculation that sales may be very strong when one reads into the statement made by Cardinal Health about a surprising increase in one product's recent diagnostic sales...IF IF IF this is referring to Lymposeek, perhaps our coming sales report will be greater than $600,000.
The share price is being held down for one reason or another by one entity or another - AS IF POOR SALES for Q4 2013 have already leaked out (like I think it did in November when we saw 1.11) and the pps will again revisit the 1.11 area. Those shorting at 1.75 will reap a nice gain if the pps slides back near 1.00. Tax loss selling season is long over (for 6 weeks now) and we can't hold 2.00? We closed 2013 above 2.00. To me, this fact alone is very ominous price action and downright suspicious.
I have already stated that the company ABSOLUTELY NEEDS the anticipated FDA approval AND the EU Lymphoseek approval just to begin a real turnaround here.
As for the conference tomorrow, we may get a new nugget of information tomorrow on one or more of any of the pipeline fronts, but if history is any indication, the company will spew the same line of guff about how great Lymphoseek is (along with all the company hopes and prayers for it) despite sales thus far that are well below market expectations for the past six months.
A major RIGS development is most welcome at this point...as would more news on the 4694 and 5001 fronts. I remain disgusted that the cohort data PR from this past week did nothing for the share price.
GLTA.
Unless Platinum-Montaur enjoys seeing NAVB at 1.74, it is time for Montaur to threaten Navidea management with written letters the way they addressed Echo Theraputics. The fact that Montaur is not publicly working to correct the NAVB share price, makes me wonder ever more if they are one of the large shorts. This nonsense has gone on long enough. Other stocks surge 25% or more on a PR like the one we had yesterday.
Time will tell, but it seems as if the big buy today could be short covering...but not necessarily good short covering as those 2.7 million shares can be reshorted immediately (and this is why I believe we are seeing such a massive stranglehold on the share price).
Tick tock, Dublin.
The company has begun officially kicking shareholders in the face even more so recently. 893,000 shares of undeserved options await them at 1.77 and they receive huge bonuses in 2014, regardless of the success or failure of the company. How much more of the Navidea scam is going to be made public today?
Today's options make me think that a buyout may be coming soon to a theater near us all for around 3.50 per share - and fine by me such would be, as this management team has been paid an undue fortune over the past 3 years to repeatedly drop the ball and declare victory. If Crede hasn't sold yet, they'll make out great at 3.50. If they have sold, it makes me wonder who they know at Navidea to facilitate such a ridiculous deal to the detriment of longs.
FWIW, if sales are below $400,000, I expect a shareholder lawsuit to be filed, as the company was exceptionally optimistic about Q4 sales at the December 5th NYC conference. The nonsense has gone on long enough. Ownership and control of this company needs to be steered by competency, not overpaid incompetency (which has often been deliberate imo).
In another week, it will be three full years since the stock went from .33 to .16 and ultimately well under .10.
An update would certainly be welcome.
GLTA.
Tomorrow, Navidea presenta at 2014 Biotech Showcase Conference. If they provide new details and the stock surges, so be it.
If they dribble the same old same old, the pay decreases are more than called for...and Q4 sales DAMN WELL better be far better than Q3! Those that short NAVB who are not hedging against a long position act as if RIGS will never go anywhere. The right press release with RIGS can fix everything here in a heart beat. Do you have it within yourself Pykett to create shareholder value?
GLTA.
I really mean this - with all of the frivolous shareholder lawsuits that happen against companies all the time, I'm stunned NAVB hasn't been slapped with a huge one for shooting shareholders between the eyes with the GE deal and Crede deal combo. The GE deal misled investors into thinking that Navidea was on solid financial ground, especially when they already had a Platinum-Montaur line of credit as well they can use. Then the Crede deal follows and the company values itself at 2.11 in September 2013, six months after the pps ran to 3.40 prior to FDA approval in March 2013? The only way the GE deal makes sense is if something huge is announced for NAV5001 or RIGS that specifically requires GE money...
The only was this stock really turns around imo, is with a huge RIGS development ahead of schedule (preferably something spectacular within 3-6 months from the Alabama clinical trials).
I think this is a possibility. I say European Approval takes us back to 2.25-2.50, at least for a day. LOL. But how long will it be for EU Approval? Some say June or July...Not good enough imo.
Layoffs are clearly called for here, for the sake of saving money and proving financial responsibility to the NAVB shareholder and market in general...such seems unlikely though. The Crede deal guarantees another 2 full years of salary to Pykett, Tulip, and Larson. This is their main concern. They are fortunate that shareholders have no say in their pay, as I would have cut their pay proportional to the huge decline in pps we saw after weak Q3 sales were announced.
There is a massive stranglehold on the pps and the shorts didn't cover at 1.50-1.80. This makes no sense to me, unless they know in advance that the next sales will be in the $144,000 area again (or even less somehow), BUT the company said on 12/5 in NYC that sales are accelerating from Q3 already...
January and February have been good for Navidea (Neoprobe) in recent years...
We shall see.
Tick tock.
Comment is invited.
GLTA.
Our new PM board member...everything makes sense GOD DAMN THEM!