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The only double or triple will come after the next reverse split...
Stay on the case it's only a matter of time ..
You are 100% right these decisions to plod along at a snail's pace are ridiculous...take the money and get the project going ..this opportunity wont stay forever...these clowns always find a way to ensure I never make any money ...sadly we will get taken out at a modest level and lose the opportunity
Imo
Those pictures say it all!!
I definitely feel like the last one..
Cant wait for the inevitable disappointment of the next CC..
That pretty much sums it up... I'm sure they will continue to grab failure out of the jaws of victory.. question is cursed or just gross negligence ? The latest clown to grasp the reins appears an average pick up at best
IMO
Hopefully they sell this POS soon ...tiring watching the hope build and get pounded back over and over again.. Zero credibility with this crew
IMO
Sadly they will surely disappoint... and you're right we will be below 4 .... this company is a complete clown show...time to bring King back I think he did a better job with the CDMO business despite the fact he was a puppet
IMO
I'm with you... it is beyond pathetic...the incompetence is hard to fathom.. need to sell this to a company with professionals that actually care about building a company rather then bilking shateholders
IMO
You are correct ...I need a counselor to deal with my bitterness
White collar crime
What a clown show.... sell this fn thing and allow me to get on with my life... King and his band of crooks at least threw me a lie on a regular basis so I could remain in a heightened state of euphoria for periods of time. These guys have no imagination while they are stealing my money IMO
#POS #CRIMINALS #INCOMPONENT
In the midst of the greatest opportunity the Cdmo business has ever seen these incompetent criminals are going to snatch failure from the jaws of victory. Please just sell this already! And stop stealing from us
IMO
Exactly they have quite literally added no value and now cant resolve an equipment issue... you know it's bad when you cant do better then the previous clown show imo
Just the next group of scumbags to bilk retail shareholders ...this pos is over ...take what little we have left and move on ...the final insult is in its final phase ..imo
Well said
What a sad joke this POS is....incompetent amateurs ...imo
I am so done with this POS ....endless disappointments going on 20 years for me.. once again I'm sure they will have bare minimum.to say ...just collecting paycheques like the last crew
Imo
Check with Bio he'll have the info you need
Sadly this team has not yet proven they can deliver, time is just about up for them ... it looks like a disappointing buy out as you outlined in the $10 to 12 range .... better then the old crew but no where near where it could have been... I just want to move on from the most tragic financial decision I ever made that sadly has had a material impact on my retirement and my legacy for my children ... put at end to this water torture !!
No kidding ...same hoor different housecoat
Indeed spiderman to the rescue
We are all going to be millionaires
Bang on... the Microsoft of biotech ... it's all a matter of time
Thanks for reminding everyone of the facts... I'm a little perplexed why they purposefully put on such a brutal performance on the call it was clearly planned ...which means either we have financing announced next week or just shaking the tree for institutional friends... just tired of the games and disrespect to retail
IMO
I will never forget that Monday morning... all my dreams became a nightmare and my retirement plans went up in smoke ... no one can argue that King was not responsible for this horribly mismanaged POS .. I am however grateful that we at least have something going on now that can bring us some value
IMO
CEO Gaffe of the Week: Peregrine Pharmaceuticals
Some days CEOs would be better off staying in bed.
?
Sean Williams
(TMFUltraLong)
Sep 28, 2012 at 11:40AM
This year, I introduced a weekly series called "CEO Gaffe of the Week." Having come across more than a handful of questionable executive decisions last year when compiling my list of the worst CEOs of 2011, I thought it could be a learning experience for all of us if I pointed out apparent gaffes as they occur. Trusting your investments begins with trusting the leadership at the top -- and with leaders like these on your side, sometimes you don't need enemies!
This week we'll take a closer look at the CEO of Peregrine Pharmaceuticals (NASDAQ:PPHM), Steven King, and examine why it is this week's disaster du jour!
The dunce cap
I know what you're thinking and no, this is a different Stephen King, though with the 79% haircutthe stock received this week, it could very well be a lead in to a horror story.
Peregrine's nightmarish week is just two weeks removed from announcing what appeared to be fantastic results in a mid-stage trial for its non-small-cell lung cancer treatment bavituximab. According to that press release, bavituximab, when combined with docetaxel, doubled patient survival rates versus just docetaxel by itself (12.1 months versus 5.6 months) and, more importantly, was well tolerated. The news shot the stock up by 70% over the course of the next two weeks.
Then every single wheel simultaneously fell off the bus...
Come Monday this week, we received a press release from Peregrine that, in effect, its mid-stage study results on bavituximab shouldn't be relied upon. D'oh! And let's go on the record saying that clinical-stage biotech investors don't take kindly to clinical boo-boos. Peregrine noted an unusually large number of censored patients in its trial (those that Peregrine is either unable to follow up with, or haven't been in the trial long enough to analyze), which likely skewed the results in favor of bavituximab's efficacy.
To the corner, Mr. King...
Oh, don't think this murder-mystery is done just yet, because there's even more disturbing news.
In addition to the, "oh by the way, don't rely on that bit of data we released two weeks ago," Peregrine's creditors, which include Oxford Finance, Silicon Valley Bank, and MidCap Financial SBIC, filed a notice of default on a $30 million loan underwritten just 28 days ago. I'm pretty sure this is the quickest default I've ever witnessed in my 14 years of following the market. According to the written nature of the loan, any material adverse changes in Peregrine's business are grounds for declaring default, and I'd definitely say a 79% tumble perpetuated by a "yeah, we actually didn't do that" serves as reasonable grounds to declare a default. Peregrine complied by returning the $15 million it had borrowed plus an additional $975,000 in penalties. According to Peregrine, it has enough cash to satisfy operations through April 2013.
In Peregrine's defense (if there is one), companies of all sizes have had a difficult time getting treatments past the Food and Drug Administration with regard to lung cancer of any form. Eli Lilly's (NYSE:LLY) Alimta failed in a combination study with Avastin to reach its target in a late-stage nonsquamous non-small-cell lung cancer study.Late last year, Sanofi's (NASDAQ:SNY)afilbercept failed in a late-stage study to meet its endpoint in combination with docetaxel as a second-line treatment to NSCLC. Even Merck (NYSE:MRK) has struggled for more than three years in its attempt to win approval for Erbitux in Europe to treat NSCLC.
With the deck clearly stacked against Peregrine, consider this week's snafu the final straw for investors. Good luck getting investors to believe your next set of results, Mr. King.
New contract I guess ... he is very good ..I must admit ... the big short
IMO
Good to see another parasite gone .... how many are left?
Imo
Very impressive!
Imo
Sorry buts he's a sham is only intent is to set up the big short
Imo
I see the captain of the naked short team has sent out the sell signal to his low life friends .... hopefully they'll be wrong this time and get burnt
Imo
Shocking the price didn't move higher give the volume and the institutional ownership, hope this isn't more games
Nice to see criminals looking after each other hopefully karma will also look after them some day
Imo
Exactly this pos is going nowhere ...buyout at 5 best you can hope for
Imo
Wow ...and this is reason to celebrate ? This pos is going nowhere fast
Imo
Special place in ..... waitng for them
Absolute scum of the earth
Imo
Dont hold your breath...the 5 dollar takeout is coming and then the contracts will roll in
Imo
Perfectly said ... sad but true
Imo
Yes Roger is playing from the same playbook just with a pompous accent
Imo
Wow ....gamechanger..really stepping up
Imo
Perfect
Yes it's all horseshoes and rainbows...rich beyond our wildest dreams....soon only a few more reverse splits...
Imo