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A time machine chance
Re: Australia. Grasping at straws. This company died with the FDA letter in Dr. Stoll's desk so many years ago. Varney put this company on a respirator. Margolis refuses to pull the plug.
Manuso and the board have put into place extremely large placement fees for any investor crazy enough to cut a check: approx 15 cents on every dollar. Not to mention huge stock options for all.
Plus they owe money to landlords, attorneys, creditors, past management. How does an investor know that their money will go to trials and not those past obligations.
If their ampa patents were so great, why did their past partners let them go for a song and a dance.
Why did DARPA pass on ampakines?
If the FDA now admits the artifact issue in the Acute Dosing portion of the safety trial was due to the slide preparation, why aren't investors crawling out the woodwork to plow money into ampa trials?
As for Dronibinol, why mess around with a Schedule One menace to American Society, when you can buy stock in Aurora Cannabis, and Canopy in Canada where the government is your partner, not your enemy? Until congress acts, there will be no further indications approved for Dronibinol. Period.
Finally, as I've said before, good local plumbing companies have more money in the bank than RSPI, and you cannot run trials without it no matter how good your conference slide show looks and sounds.
I'd forgotten Dr. Varney ran this trial years ago, and the Germans were still crunching numbers on the results until CORX ran out of money to pay everyone except senior management.
Would like to see a trial on the effects of Dronabinol on investor confidence in micro-cap neuropharma biotechs. Primarily looking for how Dronabinol might affect subjects perception of "duration" as it applies to the actual time it takes for the aforementioned micro caps to obtain funding to conduct clinical trials.
Until financing for trails is solidified no rush to buy. Thinly traded stocks go up quickly. Down even quicker. 50 to 60k in bank. Good local plumbing companies have more than that.
Re: 10k.52K left in bank. Snore.
Long way for any significant financing to arrive IMHO. Even longer to resume ampakine trials, and longer still for NAS listing attempts, as any success in trials will be immediately diluted down to raise cash. Will be hard to take any profits due to thinly traded nature of this poor little rascal of a stock. Wish things were different, but it's hard to reverse decades of past mismanagement, lies and missed opportunities by Stoll, and Varney. R&R once offered the equivalent of $400 per share figuring in the reverse split, Stoll angrily accused them of "trying to steal" his company.
Seems like getting fifteen cents on every dollar he raises as a bonus, plus salary, plus options may be one of the things that's keeping investors from cutting checks, not to mention dilution, creditors, past stock performance and the "going concern" concerns listed in the latest 10Q.
Kinda like running a charity for homeless dogs where only a small percentage goes to dog food, shelters, and vet bills. How does an investor know the money he puts into the company will go to fund these trials, and not pay off creditors, attorneys, ever-increasing bonuses and salaries due?
Regarding the patents. If they were so valuable why did their partners allow them to be transferred for a song and a dance?
Maybe old age has made me more than a little pessimistic. I really hope I'm wrong, but this management team (Margolis, Lippa, Manuso) are all well-connected guys. Each one a prize winning pup in their own particular pedigree. Why haven't they been able to cajole some hedge fund guy with millions that need to find a home yesterday? Or at least some rich kid playing with daddy's money to sign on the line which is dotted?
Some news on funding (if it arrives) check this out: Amendment to Jeff Margolis Employment Agreement
By Unanimous Written Consent on June 30, 2017, the Board of Directors of the Company resolved to amend the Employment Agreement with Jeff Margolis effective July 1, 2017. The amendment provides that Jeff Margolis will have the additional title of Chief Financial Officer and be promoted from Vice President to Senior Vice President. The amendment also provides for an increase in the accrual rate of his cash compensation from $195,000 to $300,000 annually. The amendment also schedules a cash payment of a bonus granted on June 30, 2015 as follows: (a) $15,000 payable upon the closing of the next financing in excess of $100,000, (b) $15,000 payable by the end of the following month assuming cumulative closings on financings (commencing with the closing that triggered (a)) of at least $200,000, and (c) $30,000 upon the closing of the next financing in excess of an additional $250,000. The amendment provides for an option grant of 25,000 non-qualified stock options to be granted on or about July 1, 2017. By Unanimous Written Consent on July 26, 2017, the Board of Directors resolved to make such grant with 25% of such options vesting immediately, 25% vesting on September 30, 2017 and 50% vesting on December 31, 2017 at an exercise price of the greater of $2.00 or the closing price of the Company’s common stock on the date of the grant (July 26, 2017), which resulted in an exercise price of $2.00. The amendment further provides that Mr. Margolis would participate in future executive bonus, option, equity and equity-linked grants or other fringe benefits (including, for example, auto, life insurance, health insurance, and expense allowance) in accordance with the terms of the employment contract, amended to reflect that such grants shall be at least equal to the lowest grant to any member or the executive management team (meaning any person with a title of Senior Vice President, Chief Financial Officer, or higher) regardless of whether such executive officer is also a member of the Board of Directors. An exception to this clause would be any signing bonus, equity, option or similar grant necessary to induce the hiring of a Chief Financial Officer, Chief Medical Officer, or other executive officer. The employment agreement was automatically extended to September 30, 2017 after which it would be subject to one year extensions in a manner the same as that prior to the amendment.
Pretty SWEET!
Re: "The funding issue". Think lack of funding has more to do with the fate of previous partners, investors, lenders, landlords, etc than how robust their clinical aspirations appear to be.
Congrats to management on pay raise and stock options. A year after 325 to one reverse split stock down about 50%. Many small biotechs on a tear with no news (IMGN for example). Well done.
Re: Hope. Manuso to investors: "Brother, can you spare a billion dimes?"
Any signs we'll get ampakines back in trials in 2017? Not much activity in RSPI shares, or on this board. Dronibinol Trial was a win, but even with a larger study they are going up against CPAP Mafia, and don't see this administration appointing FDA head who's for expanding Dronibinol indications. Hope I'm wrong about this, as I have been in the past.
Looks like they were able to convince someone to pony up 350K as per latest Form 10-K. Would have hoped for more with the NIH positive buzz. Hope this is enough restart ampakine trials.
Case study in how NOT to do R.S. S.P. down by half since 325 to one R.S. Even if Duke data rehash 100 percent positive we' d just be treading water. Despite resume of new team they can't seem to locate real long term funding and that's too bad.
New 8k info re 5,000 dollar debt not so great. New 8k re NIH study sounds like good news on the way in "winter 2017." Hope its enuff 2 move the needle.
Duke University. RSPI flip flopping reminds me of the DNA evidence that was supposed to convict three members of the Duke Lacrosse team of rape. When it came out it damaged what was left of the accuser's and prosecutor Nifong's credibility.
I'll bet Manuso wishes they had ol' Dr. Tran back. This would've never happened if they had him ferreting out inconsistencies.
Also how could retracting data help do anything other than undermine confidence in this company's d.d.
I hope the dronibonol data is conclusive and dosen't go "Up in Smoke," and make management look like Stacey Keach in that canniboid
cinema classic.
8K: typical COR/CORX/RSPI b.s. This company hasn't had a "good" 8K in over a decade. 66K and change not the end of the world. Probably getting their name in the hat in case RSPI actually can work out a deal and get funding for a real trial. I'd imagine some old creditors, landlords, ex-employees will have their hands out trying to snag some of that money. Lots of luck on that one!
Snore.....
Could be party to deal got cold feet after the trail data was out, or could be management's the one holding out for a better deal after the December results are published, could also be they never had a deal in the first place and the trial was a hail Mary. RSPI's not really in the driver's seat with what they now have. Unfortunately that's the way it goes in the world of small biotech. Many examples come to mind, recently IMGN had to do a secondary when the stock was already at a 52 week low on the failure of an ovarian cancer trial. Shareholders now have to wait at least two more years to see if they can pull a rabbit out of their hat with a new trial, and a huge cash burn every month. Chef was right about one thing when he called RSPI a "lottery ticket." Manuso, Margolis and Lippa are a great team with a real world track record, but they are fighting an uphill battle with this company.
You make a good point. Previous management had same problem with small trial size (among other more significant problems). The trials never seem to move the s.p. needle enough to attract partners willing to foot the bill for larger trials, or secure funding without diluting shareholders into oblivion. Hopefully new managements investment banking connections will change the narrative.
Good news from trial. Now there will be dilution to fund what's next.
This stock hit 3 pre split once upon a time. Why not 35?
Chef maybe will buy back in when it hits 35. Having a message board dosen't make u immune from losing money in biotech just like the rest.
I bought on the dip but I think it'll take a while. Congress is making these pharmas their
whipping boy with their grandstanding on drug prices. It'll die down when they need
money for re-election. This franchise isn't going away.
Really have all I feel I need for now. Just enough to have a dog in the hunt,
not enough to say ouch. Have confidence in management, not much confidence
in anything else. Should be an interesting 4th quarter for this stock.
Could be a good move. Plenty of time in between RS and December trials results for SP "shrinkage." I think management may have a rabbit in the hat in the form of a partnership deal IMHO.
Think hard. No real rush to get in. Mite wanna wait til this stock gets relisted.
Just kidding. Id describe rspi as more of a frankenstein stock than a lottery ticket.
Buy some Bristol Myers on dip with your rspi money. Safer bet. imho.
That being said you are dead right about the danger of shorts in small biotech. But shorting can also backfire. Ackman prolly wishes he'd left Herbalife alone. In the case of the old COR, CORX shorts weren't
required to destroy s.p. Management did it so well on their own they really did need any help from shorts.
Manuso, Lippa and Margolis. Not their first rodeo.
Let the shorts in, for only then may they be fried in aromatic short squeezed oil.
Lots of jittery and confused folks out there in rspi land. That's usually a good sign of things to come. In the past Stoll and Varney would blab on in webcasts about timelines, partnerships, and positive trail results and the stock just kept tanking. Current management just keeps their mouth shut and accumulates more stock and options. The best p.r. is better s.p. and market cap. Both are on the way.
Great rundown of potential revenue streams. Just don't understand why, with all these deep pocket partners waiting in the wings, management decides to float a secondary when the stocks at a multi year low. Seems like an act of desperate men. Secondly, there seems to be no real urgency among shareholders to pile in. I'd like to build a position but think the smart move is to wait til tax loss selling is done. Thanks again for your insight.
CX-1739 Phase 2. Final Data Collection May 2016. Results to be released by RSPI "Third Quarter 2016."
Dronabinol Phase 2. Final Data Collection May 2016. Results to be released by NIH "Late Fall 2016."
Other notable events: Shareholder Vote on Reverse Split August 16th, 2016.
After reading the referenced s.e.c. filing for which you were kind enough to post a link I see nothing out of the ordinary with the stock and options granted mr margolis. He is an investment banker with 30plus years experience without whose connections we'd still be stuck in limbo. Unlike previous management he does not collect a huge salary depleting cash til nothing is left to pay the rent. As for dr lippa he lent money from his own family trust to pay the bills left over from previous management. Manuso put 250k of his own money to buy stock. All were and will be rewarded with stock and options. None are drawing huge salaries from RSPI. Its called having skin in the game.
Think AC sounds like a teenager. Maybe one that dosen't even own stock. Just aspires 2 b a penny stock troll. For the past decade no one cared about this stock except torched longs and management stooges that defended old management's failures until there was nothin left to defend. Finally we have a management team who have made the right moves and aren't bleeding the co dry with unearned salary. Volume has picked up with trail results out soon, a reverse split, and possible relisting. All this will prolly attract more posters. Some with valuable insight, most with few clues. Plenty of sparks flew in the old days and looks like more to come, especially if volume and s.p. picks up. I can't wait!
Looks like $heff has made both friends and enemies out there in pennystockland. Imagine that. Seems to me like the time to be negative on COR.CORX.RSPI would have been at 3 bucks a share rather than 3 cents, but then again it hardly ever works that way, does it?