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There were plenty of voices saying he was sent by Merck to kick the tires...
https://www.lifescienceleader.com/doc/from-foundation-to-darkest-days-to-finest-hour-the-jazz-pharmaceuticals-success-story-0001
The darkest days of Jazz Pharmaceuticals (NASDAQ: JAZZ) came in April 2009. “Our stock price was 53 cents a share,” recalls the company’s cofounder, chairman, and CEO, Bruce Cozadd. Having negative equity, $120 million in long-term debt, around $15 million in cash, and being unable to raise capital, Jazz was in serious trouble. “We were in default on our debt, literally talking to bankruptcy attorneys every day,” Cozadd says. The decision facing Jazz leadership in December 2008 had been whether to make the next interest payment to debt holders or to fund an ongoing clinical trial. “We had enough money in the bank to make the payment, but we didn’t think we had enough to make that payment and continue the clinical trial,” shares Cozadd. By not making the debt payment, the company was at risk of being shut down. Nevertheless, the leadership of Jazz decided to use the money toward continuing the clinical trial.
Six years later, with a market cap over $11.3 billion, the stock trading over $180 a share, and Jazz being viewed as one of the hottest Big Pharma targets of acquisition, it is easy to say they made the right decision. “Sure, it’s a great story now. But at the time we didn’t know it would work,” Cozadd admits.
I like the color!
This, to me, is people getting margin calls on other securities, and selling anything at any price to raise cash. This is what is going on in the overall market. Creates fantastic buying opportunities is you have dry powder. The key is to nibble here and there.
They may postpone the ASM, but that doesn't mean they are "Kicking the Can Again."
Haven't you heard....ITS NOT THE FLU!! Wink, Wink.
Why should today be any different?
Reverse split is to up list to Nasdaq.
Maybe there are loyal longs in this raise. If you put 20 people in a room and sell a raise, everyone will tell you they love the company. Most do, but you always have greed, and they will get the best price possible. Sucks, but that is life. Then they will sell for a 2 cent profit.
Rinse, wash repeat.
That would mean that all were friendly longs.
I have seen this before in other stocks I have invested in. Management thinks they are all nice guys, and they all are not. There are bad apples in every bunch. Short hedge funds are the usual culprit. They make bringing a product to market for small companies a nightmare. As I said, they are the real criminals.
This is not something that only happens to NWBO.
This is the way financing works in the market.
News leaks and funds and brokerages participating in the raise drive the price down. Happens numerous times every day.
If you want to complain to the SEC about something, complain about the hedge funds. They are the real criminals.
Thanks, Sukus.
You are way too kind to me.
Good Luck to you.
Hyperopia,
It has been a while. I was glad to see you make it to this board, as I have always enjoyed your insights, which are usually well researched and thought out.
This last post has a little of everything. I agree with you, but wonder about the timing. Les and Linda, especially Les, are getting up there in age. This has been a long trial, and has taken a toll on them, both physically and emotionally. I wonder how much further they want to take it on their own. I am not saying they will sell after TLD, but I am not saying they won't, either. Linda has always said she would take an offer she couldn't refuse. Does Merck want to take the risk of a bidding war, or will they pay up now, without the risk of losing it all, or do they do a partnership? I would think everything is on the table. Merck, through Dr. Duffy, has the inside track. I really wonder where they are at now.
Did they already data lock and unblind? Do they have a rolling BLA? Nothing would surprise me. I do believe there is more to the story than Data Lock and TLD
I am thinking of going to the ASM. They have reaaly amped up their long suffering shareholders. . I guess we will find out soon.
Been a long time since it was tough to utter NWBO on the Cyrx board.
Now that board is dead, as institutions have taken over the stock. That was also a tough stock to hold, but in the end, it was well worth it.
Lets hope that happens here. Good luck to you, and hope we meet at the ASM.
Sukus,
These were warrants from a different company, NOT NWBO.
I paid the exercise price X the number of shares. They have to be held for 6 months.
There are fees involved to remove the restriction on the common when the 6 month has elapsed,around $500. After it is removed, yo have to sell them in 30 days.
The common you receive, has to be held for a year from the date of exercise to qualify for Long Term Capital Gain treatment.
Hope this helps.
I exercised some warrant through Continental Stock Transfer of another company, (Not Northwest), and turn around time was about a week, from express mailing them to Continental, and the date on the stock certificates. Total time back to my mailbox was 9 days.
There was also a 6 month hold on the sale of the new common.
That would be the simplest analysis.
I have to wonder whether LP would let him PR his optimism.
I have to think there is much more to it.
Vator,
The more I think about this, I keep coming to this conclusion.
Hope this is the case. It would be one hell of a meeting!
Hyperopia,
I agree wholeheartedly with this thinking.
It is probably the best option for patients also.
Merck would bring this to market a lot faster than NWBO.
I assume he is referring to NWBO as NW.
Interesting......
Welcome back from the "Dark Side."
May the "Force" be with you.
Oh, come on now Tilt, the shorts are long gone....Wink, Wink!
Spot-on, Beartrap, thank You!
Must be "Organic" milk.
Good choice.
I looked below.
Looks like OLD NEWS.
So basically a "Road Show."
I wrote a post a few weeks back with these same thoughts, and it was deleted. I agree with your take on this.
Doc,
It was a GTC order that was in for a week or so.
I got confirmation right after the trade.
GLTU
Jack,
Spot On, thank you.
Will this suffice?
No need to respond as you are, and have been on ignore.
YOU BOUGHT NORTHWEST BIOTHERAPEUTICS INC COM (NWBO) (Cash)
Symbol
NWBO
Description
NORTHWEST BIOTHERAPEUTICS INC COM
Shares
+ 40,000.000
Price
0.141
Amount
-$5,640.00
Settlement Date
02/11/2020
I know the feeling.
Feels like news is imminent, so it won't matter much if TLD is positive.
I was.
Hit my bid for 40,000 at $.141.
Awesome!
The old "shake and go."
Sell to you....
Spot on!
They missed Q4 sales by 1.2 million dollars.
IS the company behind on their filings of a 10Q for the 2nd and 3rd quarters of 2019?
The only thing I would like to ask is how many shares are outstanding now?
We can leave it at that.