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Agreed. Maybe they can finally discover that it is not a good idea to do deals with a Michael Milken protegee Crede Capital.
Beach,
Unfortunately, the poison seems to be working.
The Math would tell me he did not vote.
Agreed. It is safe to say,he DID NOT vote against her. It seems all the drama is for naught.
What SEC? Ask anyone who invested with Bernie Madoff!
Wondering if there is a link to that, of if the LOSER, "Heard it on the Street" or maybe at a baseball game.
I may have to get a paid subscription.....Some people are best if put on ignore. I need more ignores.
Game Plan.....
Our internal estimates for the size of the cancer diagnostics market, based on multiple industry sources, suggests a rapidly growing market with a current annual value of $2.5 billion, built on only tissue biopsies and not accounting for growth due to the potential for liquid biopsies or increased testing to monitoring cancer patients. Growth in this market has been in part fueled by the rapid adoption of Next-Generation Sequencing (“NGS”) and Digital PCR, along with an emphasis by the U.S. Food & Drug Administration (“FDA”) for better and more uniform compliance regarding Laboratory Designed Test assays. In spite of these changes in the market, there is still a need for more informative data to help guide treatment. We believe that this will only occur when there is a move to blood and liquid testing of cancer patients earlier and more regularly (monitoring) to ensure more accurate diagnoses and more targeted and effective treatments. We believe that MX-ICP is at the forefront of technologies designed to accomplish this transition away from traditional biopsies, analysis and monitoring and will help allow for precision medicine to become a reality.
Transgenomic does not intend to build the extensive infrastructure necessary to fully commercialize MX-ICP. While there are applications of the technology that we will sell directly, we anticipate that the majority of revenues will be generated through a combination of exclusive, non-exclusive or semi-exclusive licenses to partners and collaborators. Our goal is to establish the fastest time to market possible for our product and to leverage already existing infrastructure rather than depend on making significant capital expenditures or other investments of our own. Our potential partners generally fall into one of three categories:
· Laboratory instrumentation and reagents suppliers (such as: Thermo Fisher Scientific, Inc., Illumina, Inc., Bio-Rad Laboratories, Inc., Qiagen N.V. and Affymetrix, Inc.). The usefulness of MX-ICP across all platforms and its ability to detect tumor mutations in a wide range of samples make such companies natural partners for Transgenomic. We believe that MX-ICP has the potential to greatly expand the market for cancer monitoring as a complement, not as a competitor, to existing products.
· Pharmaceutical and Biotechnology companies (such as: Amgen, Inc., Novartis AG, Clovis Oncology, Inc., AstraZeneca plc, GlaxoSmithKline plc and Bristol-Myers Squibb Company). For companies developing new cancer drugs, MX-ICP has the potential to reduce the risk of clinical trials, as well as support the development of companion diagnostics to match drugs with patients.
· Clinical Laboratories (such as: Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated and the many CLIA-certified laboratories throughout the United States). MX-ICP would allow clinical laboratory firms to effectively compete with more specialized providers and to become full service providers as personalized, precision medicine becomes more widely adopted.
The markets in which we compete require a wide variety of technologies, products and capabilities. The combination of technological complexity and rapid change within our markets makes it difficult for a single company to develop all of the solutions that it desires to offer as part of its family of products and services. We work to broaden the range of products and services we deliver to customers in target markets through acquisitions, investments and alliances.
From the original S1:
DESCRIPTION OF PROPERTY
We do not own real property. We currently lease one facility, with approximately 12,000 square feet of corporate, research and development, and warehouse facilities, located in Lake Forest, California under an operating lease expiring June 30, 2015, which we do not intend to renew. We are currently exploring other facilities to meet our growing demands.
From the most recent S1:
The Company currently makes base lease payments of approximately $10,000 per month, due at the beginning of each month. We believe that these facilities are adequate, suitable and of sufficient capacity to support our immediate needs. Additional space may be required, however, as we expand our research and development, manufacturing and selling and marketing activities.
The operating lease obligations are primarily related to the facility lease for our principal executive office in Lake Forest, California, which expires June 30, 2015. In May 2015, we amended the lease to convert to a month-to-month basis, commencing July 1, 2015. The base rent will be $9,500 and either party will have the right to cancel this month-to-month agreement by giving the other party a minimum of a 90-day prior written notice. We also lease certain office equipment.
Very Nice! Thanks TC.
Never said I believed it. Just said it should put it to rest
Your example is what the same vulture hedge funds do to every small cap company they capitalize. They drive the price down just before the offering, and they dilute it twice as they get the toxic warrants. Then they sell all their shares, keeping the warrants. They would have priced this at 3.50 or less. Woodford priced it above the market, and with no warrants. No warrants is HUGE.
Not in my head, that is for sure. I have read on numerous occasions that Woodford is dumping. All part of the FUD I guess
I guess this puts all the Woodford is dumping conspiracy theories to rest.
Don't even think we need FDA clearance to get this going, although the panel of 5 pharma's seem to be food for that clearance. This would get going with a license agreement and launch with a major like Illumina or Fischer Scientific. I also look forward tothe conference call early next month.
I think it is short hedge funds algorhythms trading with one another,
or high frequency trading. Which, in my opinion, will be the death of Wall Street, if allowed to continue.
I am of the mind that just being allowed to include AMGENS name in the PR offers credibility. Maybe Amgen was the original pharma in the study, before the other 4 were added?
This relationship with Amgen goes a ways back. Glad to see the study concluded. Who is to say Amgen is not one of these leading Biopharmaceutical firms in this release....
http://finance.yahoo.com/news/transgenomic-announces-pilot-clinical-study-113000829.html
Maybe there is more here than meets the eye.
You guys are way too hard on Kinnon. He is not the hedge funds shorting this stock. The news has been good, and the burn rate is going down. They have a product that may explode in the near term. One deal with a major, and this is off. Look at the bio-tech indexes, they are getting hammered. The appointments to the board, may be about to bear fruit. Patience is warranted.
This is really an outstanding appointment!
The news is still positive as they are moving in the right direction. Lowering the burn rate by 1.2 million a quarter, or 4.8 million per year is welcome by me. I understand the frustration, as I am frustrated too. We need to break Crede Capitals back, and reducing the burn rate is a good start. We do need big news, and a license agreement with a large diagnostic firm, or clearance from the FDA would do it. It does appear they are proceeding with or without the FDA. Maybe getting through the end of quarter will help too. But we really need to break Crede Capitals back.....
Post from YMB....
Closing thoughts, here. As you all know by now, I've been relentless cheerleader on the board for TBIO. I found Herbieherbs post interesting.. and took the time over the weekend to research all companies that Crede Capital financed.. looking up tickers, going through long term charts, and pinpointing the date of offering. Almost every single one dissolved over the following months and years. A prime example is FREE. It seems like everything Crede Capital touches goes under.
I have fully divested from my position in TBIO, having gradually liquidated recently.. and looking now and having missed this big drop over last few minutes. Naturally, it will probably vault higher tomorrow. But I've been honest with the board, and thought I should share my thoughts, as I admire and respect many of your opinions. I will keep an eye on it as time goes on. When TBIO looks like it's forming strength again and consolidating for a move higher, I may return. The company is gold stars, as we all know, but between biotech as a whole wavering and the price action here on TBIO that simply shouldn't be happing.. I'll just observe for now.
I wish everyone the best of luck.
Sincerely
Ionized
This is my hope also. Then all this selling turns into JET FUEL!
This needs to be near the top on a day like today....
Who is selling shares here?
If you look at a 3 month chart, you see this bizarre behavior in the share price. What has happened in the last three months? First thing that comes to mind is there has been outstanding news. The company has increasing revenues, they have launched Multiplexed Ice Cold PCR, and they have also launched a few cancer specific Ice Cold tests, and have issued their first license agreement. But the stock still remains at 1.20. Well, what else has happened in the last 3 months. We forget that a financing was done with Crede Capital.
http://finance.yahoo.com/news/transgenomic-announces-private-placement-financing-113000096.html
What, you say is the big deal with this? Well,I say, who is Crede Capital and what are they doing?
If you look at their website, they, on the surface look like the ideal firm. They claim:
No discounts in direct equity investments.
Single investor: no "rush to the exits," portfolio companies out perform.
Crede Capital Group is not a hedge fund guided by short term performance captive capital source.
Deal terms provide lowest cost of capital for issuers.
No shorting or hedging employed.
$5 Million to $50 Million range of investments.
This all looks great, so why am I SUSPICIOUS?
Lets look at the principal figure heading Crede Capital.
Terren Peizer. Who, you say?
https://en.wikipedia.org/wiki/Terren_Peizer
Investment career
In 1980, at age 20, Peizer was recruited by former Treasury Secretary Robert Rubin of Goldman Sachs. He was believed to be the youngest "Associate" during that era. In 1983, he was recruited by First Boston and quickly established himself as the most profitable High-Yield Bond Trader. He was often referred to as the "Michael Milken of the East Coast"[7] because in his workaholic manner, he provided Drexel Burnham Lambert clients with an alternative to the Milken-controlled, High-Yield Bond market. During his association with First Boston Peizer capitalized a little known reverse merged company, Danaher, Inc. Today, Danaher, Inc. is one of America's largest industrial companies. Peizer's most notable work while at First Boston, came when he and his clients led the restructuring and financing of Ted Turner's insolvent Turner Broadcasting Corporation. Peizer capitalized Turner Broadcasting Corp's CNN and WTBS Super Station with $185 million; thereby, saving the Turner Broadcasting Corporation from bankruptcy.
In the spring of 1985, in an effort to remove the competition from the marketplace, Michael Milken partnered with the Peizer, and made him senior vice president of Drexel Burnham Lambert. Michael Milken immediately anointed Peizer as his "protégé and left-hand man."[8] Because Peizer and Michael Milken shared clients, desk and phone,[9] it was not long before Peizer assumed responsibilities for all of Milken's direct client relationships. This made young Peizer the most productive executive on the famous X-shaped high-yield bond desk. His reputation as Milken's top sharp-elbowed traders[10] would provide the foundation to his investment career.
In the midst of Drexel's liquidation that occurred in 1990, Peizer was laid off with 5,300 other Drexel employees. Peizer agreed to testify against Milken in exchange for immunity, helping send his former boss to prison.[6][10]
IMHO, I believe Crede is hoping Transgenomic will need additional financing, and is shorting everything here to supress the stock price. In MO, they have sold everything they bought, and assume they will back for more money, and they can cover everything they shorted with this hoped for new offering. We have had many attempts to run on good news, but it seems Crede is always there to SLAM THE DOOR! Old habits die hard don't they?
If TBIO can monetize more assets, launch more tests, further increase revenues, and sign more licensing agreements, their backs will be broken and their short covering will become fuel for a major rally!
All JMHO...
Hope I can catch this tomorrow. Sure would be nice to throw us a bone.....
Just being the devils advocate, but would that be the same SEC that did nothing to Cramer for his rant about shorting, and the same lame SEC that was told about 500 times about Bernie Madoff? The SEC is useless. Why do you think these hedge funds do what they do? Because the spineless SEC looks the other way and cashes the check. I know you are frustrated, and so am I. But the bio tech index is in a meltdown. And Crede is taking anvantage of it, and still undercutting!
I think there has been a ton of good news!
Cryoport and UPS to speak at Car-T Summitt in Boston November 12-13 2015
https://mobile.twitter.com/CAR_TCell
Again, this is my point. Imo, Crede is shorting, and probably naked shorting. Read my post regarding what I think their plan is. There is no way this should still be stuck down here. I have seen this before. Short interest has increased dramatically since Crede would have started talks about an offering. The offering closed the beginning of July. They had to talk 1 or 2 months before, right when the shorting started to ramp.
http://www.nasdaq.com/symbol/tbio/short-interest
If you are referencing the filing on Sept 17, these are the shares and warrants that were in the Crede Capital offering.
If that is so then the people flushing the toilet is AEGIS.
They screwed every shareholder.
This is my point. It is Crede. They want the price suppressed to force the company to do another offering at a lower price, if and when it is warranted. Then they can cover with the offering. Why would the company resort to do as you say they are. I do not buy it, it does not make sense. This nonsense started when Crede came on the scene! TBIO would like to sell at a higher price, and besides they have enough cash till at least the end of the year. There is a strong buyer who is buying everything around 1.20. Why would that buyer pay more, when Crede keeps shorting? Terrien learned from the best, Michael Milkin.
I have a question regarding your theory that TBIO is selling shares.
Well, I have a few, but I will ask this one.
If they are selling shares, why would they always close it down on the last trade of the day. Would it not benefit them to sell at a higher price?
Who is selling shares here?
If you look at a 3 month chart, you see this bizarre behavior in the share price. What has happened in the last three months? First thing that comes to mind is there has been outstanding news. The company has increasing revenues, they have launched Multiplexed Ice Cold PCR, and they have also launched a few cancer specific Ice Cold tests, and have issued their first license agreement. But the stock still remains at 1.20. Well, what else has happened in the last 3 months. We forget that a financing was done with Crede Capital.
http://finance.yahoo.com/news/transgenomic-announces-private-placement-financing-113000096.html
What, you say is the big deal with this? Well,I say, who is Crede Capital and what are they doing?
If you look at their website, they, on the surface look like the ideal firm. They claim:
No discounts in direct equity investments.
Single investor: no "rush to the exits," portfolio companies out perform.
Crede Capital Group is not a hedge fund guided by short term performance captive capital source.
Deal terms provide lowest cost of capital for issuers.
No shorting or hedging employed.
$5 Million to $50 Million range of investments.
This all looks great, so why am I SUSPICIOUS?
Lets look at the principal figure heading Crede Capital.
Terren Peizer. Who, you say?
https://en.wikipedia.org/wiki/Terren_Peizer
Investment career
In 1980, at age 20, Peizer was recruited by former Treasury Secretary Robert Rubin of Goldman Sachs. He was believed to be the youngest "Associate" during that era. In 1983, he was recruited by First Boston and quickly established himself as the most profitable High-Yield Bond Trader. He was often referred to as the "Michael Milken of the East Coast"[7] because in his workaholic manner, he provided Drexel Burnham Lambert clients with an alternative to the Milken-controlled, High-Yield Bond market. During his association with First Boston Peizer capitalized a little known reverse merged company, Danaher, Inc. Today, Danaher, Inc. is one of America's largest industrial companies. Peizer's most notable work while at First Boston, came when he and his clients led the restructuring and financing of Ted Turner's insolvent Turner Broadcasting Corporation. Peizer capitalized Turner Broadcasting Corp's CNN and WTBS Super Station with $185 million; thereby, saving the Turner Broadcasting Corporation from bankruptcy.
In the spring of 1985, in an effort to remove the competition from the marketplace, Michael Milken partnered with the Peizer, and made him senior vice president of Drexel Burnham Lambert. Michael Milken immediately anointed Peizer as his "protégé and left-hand man."[8] Because Peizer and Michael Milken shared clients, desk and phone,[9] it was not long before Peizer assumed responsibilities for all of Milken's direct client relationships. This made young Peizer the most productive executive on the famous X-shaped high-yield bond desk. His reputation as Milken's top sharp-elbowed traders[10] would provide the foundation to his investment career.
In the midst of Drexel's liquidation that occurred in 1990, Peizer was laid off with 5,300 other Drexel employees. Peizer agreed to testify against Milken in exchange for immunity, helping send his former boss to prison.[6][10]
IMHO, I believe Crede is hoping Transgenomic will need additional financing, and is shorting everything here to supress the stock price. In MO, they have sold everything they bought, and assume they will back for more money, and they can cover everything they shorted with this hoped for new offering. We have had many attempts to run on good news, but it seems Crede is always there to SLAM THE DOOR! Old habits die hard don't they?
If TBIO can monetize more assets, launch more tests, further increase revenues, and sign more licensing agreements, their backs will be broken and their short covering will become fuel for a major rally!
All JMHO...
Second news item.
The second news item was in the form of an 8-K released by Tbio.
There had been considerable bashing, especially by one individual at YMB, the the Dana Farber patents to Ice Cold PCR were invalid. This poster railed on forever about how the patents were invalid. This was an admitted short, and he has been absent for some time and we found out why. The patent office found in favor of Dana Farber and Transgenomic and removed a significant doubt about the company. All the FUD spewed for months was meaningless. Now we need to address the criminal like behavior of the stock price. I have some ideas, and am working on it.
Progression of positive news.
The 2 news items were extremely significant this week.
The licensing agreement with the University of Melbourne comes after nearly a year of validation.
This might have something to do with this:
Read the numbers mentioned in this release. Bodes well for TBIO and their many tests.
Belgium's MDxHealth taps new urology segment with Dutch acquisition
Reuters
1 hour ago
????
* MDxHealth buys Dutch firm for $8.8 mln
* Secures new urine-based prostate cancer test
* CEO eyes potential 15-30 pct of market
By Philip Blenkinsop
BRUSSELS, Sept 15 (Reuters) - Belgian diagnostics company MDxHealth is buying the Dutch-based developer of a urine-based test for prostate cancer, aiming to gain access to a market segment worth some $600 million in the United States and Europe.
MDxHealth said on Tuesday it was buying NovioGendix for $8.8 million, including $5.1 million in stock and $3.3 million in milestone payments depending on the test's future success.
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The test, to be launched as SelectMDx in 2016, is designed to identify men with aggressive prostate cancer and to ensure cancer-free men do not have unnecessary biopsies.
It would be complementary to MDxHealth's existing prostate cancer test, ConfirmMDx, designed to identify the 25-35 percent of men who are incorrectly marked as cancer-free from biopsies.
MDxHealth Chief Executive Jan Groen did not reveal the price at which SelectMDx would be sold, but pointed to a similar colon cancer test from peer Exact Sciences pitched at $400 to $600 as a guide.
He said the total addressable market in the United States for SelectMDx was $500 million, with a further $100 million in Europe.
"If the company with this particular product in the next three, four, five years can capture 15 to 30 percent of the market, that will do quite well," he told Reuters.
In the United States, some 1.3 million biopsies are carried out per year to detect prostate cancer and some 240,000 men found to have cancer. SelectMDx is meant to help determine who needs that initial biopsy.
Along with a new urine-based test for bladder cancer, also to be launched next year, Groen said MDxHealth was looking at a U.S. market worth $2.75 billion.
Groen said cash at the end of June of $40.4 million should be enough to see the company through to 2017, when it should start to make a profit.
By then ConfirmMDx, costing up to $3,000 per test, should be fully in gear. It launched in mid-2012 and secured clearance for Medicare reimbursement coverage in November 2014. Its sales in the first six months were $6.9 million.
Hard to believe TBIO is valued at under 17 million dollars. The upside here is staggering.
Agreed, it really is a lot more pleasant to read. Great feature, that ignore!