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Apricus Bio Annual Meeting on May 15 and Proxy Statement.
I'm checking air fare.
After my initial scan (still working thru the PS), here are the key voting issues:
1) To elect two Class III directors, nominated by our Board of Directors, to serve until our 2017 Annual Meeting of Stockholders and until their successors are duly elected and qualified;
GTP - Rusty Ray is up for re-election. Given his track record and qualifications is he the best Apricus can find to be a Class III Director? How many open market shares has he bought recently? I think he is also very liberal with stock awards. My vote is NO (pending our review and discussion here).
(2) To ratify the selection of PricewaterhouseCoopers LLP (“ PwC ”) as our independent registered public accounting firm for the fiscal year ending December 31, 2014;
GTP - This appears to be fine. I need someone to review the last paragraph on page 5 and explain the admission from management "it did not maintain effective internal controls". My vote is YES (based on an initial review).
(3) To conduct an advisory (non-binding) vote on executive compensation;
GTP - So, we have talked about this one. And now is the time to have our voice heard about Executive level and Director compensation. Read the details on pages 15-27. We need all shareholders to review this and provide factual commentary. My vote is UNDECIDED.
(4) To change the Company's corporate domicile from Nevada to Delaware;
GTP - I vote YES. Look at the "Increasing/Decreasing authorized shares" section when Apricus moves to Delaware.
(5) To transact such other business as may properly come before the Annual Meeting or any adjournment(s) thereof.
GTP - So, there is no vote here. But, as I mentioned in an earlier post, shareholders could propose something here.
"We need to hold management accountable....." js.
We should take advantage of our shareholder power to influence Apricus management. This means attending the annual meeting, casting votes, and perhaps submitting a resolution. Take a look at this article:
Shareholder Power
And this article about shareholder resolutions (note only investors who have owned the stock for a full calendar year can do this):
Shareholder Proposals
I suggest we discuss the Proxy Statement, consider a resolution, and perhaps have a few iHub posters represent the APRI Board at the Annual Meeting on May 15.
I'll take the first step. Right now I'm a maybe for the Meeting, And I'll review the Proxy this weekend.
It's always tough watching the red on a stock. But I have some small advice.
Let it go Indy. Let it go. A short term view, that is. Or the stock if you prefer.
We have placed our bets. We know what we have (for the most part), why we own it, and now the market does what it does.
Been here before I have (doing my best Yoda). Fear is the path to the dark side. Fear leads to anger.
Hang in there my fellow Jedi. Do something fun.
Yours,
Still A Young Apprentice
Agreed SB. Thank you js for a concise, thoughtful post.
I have a concern about Board and Exec compensation (as I recall SB you do as well) when the vesting doesn't build in LT appreciation. Also, as I've mentioned in other posts, I can't figure out why they aren't making open market purchases (unless they think the stock is headed lower in the short run). Although this is troublesome, I still hold a LT position.
I now own a little more than I planed given the short term performance. If It goes below $2 I'll get aggressive.
I have no such hope about a launch before or on 4/11. And I don't think most of the regular posters here do either. Frankly, I'm weary of "people" who take a post or two and believe the whole board agrees with this.
I think "people" need to stop thinking this is an easy double or triple in 6-12 months with some good news. Apricus needs to demonstrate they are a viable concern by booking Vitaros revenue. And Femprox is just a great possible product under development until they get a partner.
There is a reason this is a $2 stock with a $2.50 PT (I think that is realistic). It still has a lot of potential with a lot to prove.
A Buyer at these levels.
Been out of town on business.
So, who is buying APRI today?
It still has limited visibility given it's market cap, PPS, and coverage.
It seems the short answer is the retail investor. This would break down to shorts, longs, and traders. So given the number of shares that trade each day, do we consider this more of a traders stock today?
We all know the value of institutional investors getting involved. I'd also like to see Apricus BOD and execs buy the stock open market. Some investors really track insider buys and that gives the company more exposure.
Bingo value. I own Apple stock and use iPhone, iPad, and I'm typing now on a Mac Air.
I am still cautious because of the knowns (no Vitaros sales) and unknowns (rate of market adoption). These are realities. And that needs to be said as much as any "positive" or "negative" comments here. That is being fair to the inherent investment risk.
I think all of us long the stock know this. 2014 is a make it/break it year. Let's move Vitaros product, let's sign up Femprox partners, let's get more license deals signed. Once this happens, we will see PPS movement UP.
Just keep in mind manipulation can work both ways. Although the focus here is on questioning the possible motivation for "negative" APRI talk, the same can be true for "positive" APRI talk. Seems to me there is always greater latitude on the positive spin talk as opposed to the negative.
I try to keep my posts realistic and accurate. And basically ignore the "pie in the sky" this is going to $100 or the "dump this dog" because of old history. It's all just noise to me and, as a LT term investor, I skip over them and ignore the author.
value, thanks for sharing your POV. Clearly your posts about APRI have been valuable to this board and any long investors. You and others have earned the right to rant here IMO.
But I think it's a hard sell to believe iHub posters (or any amateur investment site) influence the APRI stock price in any meaningful way. And that influence includes positive comments or sales projections that may be designed to drive the price UP. I don't think our opinions matter much outside of this board.
Now I can believe it may be perceived by some as "running salt in an open wound" when I or other newbies post of buying at current prices. Not my intention, but such is the life of stock investing. We have all purchased stock that has gone below entry prices.
I'm a LT investor. I trade very little because it's guesswork. And as I have said in another post, if you double up a few pennies here or there don't matter much. Not at the levels where I own this stock.
Well, thanks SB. It was kind of funny a few people thought you were short.
If I see sub 2.25, I may get aggressive. Right now, I've nibbled.
Added to my position today.
Was hoping for a temporary PPS reduction and the red market helped me.
Nice summary SB.
Agreed, the market in general rewards companies that can project a growth path. Better yet is if they have limited competition, patents, or disruptive technology. And we would all agree Apricus has shown real signs of these attributes.
And my posts have agreed with your statement about Vitaros. It demonstrates to the investing community Apricus is a viable concern. Any big Vitaros problems (you mention one possibility) will take down the stock. Would Femprox help APRI overcome Vitaros problems (IF they occur)? Probably. Eventually. But it would take more time. More investment pain (for those long the stock).
I'm still going to keep my conservative view about the next few months and the PPS. Maybe I just prefer to be surprised than disappointed. And I'll continue to weigh the pros and cons as I consider adding to my position.
Good day to you as well. I'm off to the health club and then on to the Chicago Blackhawks game.
Welcome back bb.
And I appreciate your honest feedback on this board.
So I will offer up one perspective on postings. We should all abide by the TOU and use common courtesy. Yet here is a quote from a book I read some time ago:
“Don't take anything Personally. Nothing others do is because of you. What others say and do is a projection of their own reality, their own dream".
As for how far this stock can go, for me there are too many unknowns to even guess. My investment goal with APRI is to double my money within 2 years. If it happens in 1, so much the better. And as Apricus hits important financial milestones (realized by product sales and license agreements), I'll reset my expectations. Maybe this could be a triple, quad, etc.
Well, if and when we have an APRI celebration I know two posters who won't be buying each other drinks.
But I will buy one for value. With substance.
I too fall into the group of new APRI buyers and I think DG raises a good point. Truth be told I wouldn't have purchased APRI stock years ago. But that was because I ignored high risk stocks like this one. I still mostly own big name, profitable companies, some that pay dividends.
But today I own a few speculative stocks and I am beating my low risk, conservative picks (for now). Yet I watch them more, dig a bit deeper, to reduce my risk and gain investment confidence.
NYMX vs. SPHS
I saw this article today.
http://www.nasdaq.com/article/2-biotech-companies-to-spread-the-risk-of-investing-in-a-new-therapy-cm335785
Given I'm a novice in this field what are the key differences between these two companies and their approach to BPH? Both are looking for FDA approval of an direct injected therapy. It seems NYMX might be further along given they have completed Phase III enrollments.
DG, perhaps the better question is how does Apricus provide incentives (or "work it" before the conference) so the show rate is SRO? Morton should be all over this one.
Note to Mr. Morton. Bring samples.
Hey, everyone needs a break from the investor grind value. I just shifted the conversation for a bit. Methinks you've been working too hard at this my friend.
Now back to the grind....So I know RP mentioned the Sweden conference and said "by bringing over 300 of the leading urologists in Europe together to hear from a distinguished panel of experts on how Vitaros in best-served patients suffering from erectile dysfunction".
Now I'm not trying to throw water on the launch fires but do we know for sure 300 Docs will attend this sponsored symposium? How can we confirm attendance?
Hmm, well I don't think we will see $10 by June. If we do, I'll retire early.
And I'll be ready to celebrate once I double up (mid $4). Because I don't see this falling back once it starts a steady climb.
Been to Vegas but prefer Europe. But I'd still go there so I can play T holdem.
I'll bring this up again when we cross $4 and see what the consensus is.
Thinking ahead to a 2015 celebration.
If all goes as planned over the next 12 months this stock should do quite well. I'm thinking in 2015 we should consider an iHub APRI Board meeting in Europe. Maybe meet in the first country that launched Vitaros.
I don't know where all of you are from. I live in the US. Illinois. Been in Europe once (Germany, Austria, Czech). But I'd be happy to go back.
Just a thought.
Right with you SB. If you look at this from her perspective there is too much career risk (and credibility issues for CF) if she writes a "Strong Buy" with a PT of $5. Let's be honest, Apricus hasn't earned that kind of review. Yet.
As for kissing her feet, I'm fine if you do that.
I'm with SB here on the CF report. Hold with a higher price target is fine at this point.
If Apricus continues to prove itself, I think she will upgrade the stock and price target. Who knows maybe she is already unofficially telling some clients "watch this one".
Analysts have temporary effects on stock. We all know what will drive the price up on this one.
I have sent emails in the past to analysts who cover stocks but everyone of them has been ignored. We don't matter to them.
As for the CF report, I'm not surprised. A conservative approach on the PPS and bottom line makes sense from her. Why stick your neck out on an unproven company? The one to find in my opinion is Roth review. But that one will probably be overly optimistic.
Analyst reports are mostly lagging indicators (unless they can truly project top and bottom line numbers). Means little to me.
Looking to add here if it continues to drift...
I respect yours as well eicoman. You and others have been in this for the long haul and it has not been easy. Best I can tell you have invested your money and your time with earnest and integrity.
I'm glad we have different views and a place to share them. I've learned quite a bit here and it has been most helpful.
Yep, I own stocks that have doubled in a month (under $5). Double digits in day too. So I know it can happen eicoman.
Look, I'm in this stock because I think it can double in 12 months (if I was convinced of it I'd own a lot more shares). So, my PPS view seems to be longer than most on this board.
SB, I too think the Vitaros launches are baked in. It's why I'm not focused there.
Lauches are a positive for the stock, no doubt. But if Vitaros sales are very slow, or "disappointing", that will be a negative. And so I believe robust Vitaros sales (QT over QT) demonstrate that Apricus is a viable company, with at least one proven product.
Femprox? Yeah, it's the possible blockbuster product. But until they "show me the money" (deals with partners) it's all talk. And talk and broken promises have already created LT issues for Apricus.
Signed,
Almost SB 2.
So what you are asking is will APRI stock show a 40% gain by the next CC?
I would think a 40% raise is not likely by that time frame. I'd settle for 10% over the next three months given the current unknowns. And this may come as a result of Femprox developments and an announced launch or two.
As I've said in other posts, I don't expect big jumps even with launch announcements. These are expected, known events. But if it happens, I'll be happily surprised.
"Wouldn't the PPS be higher or at least higher trade volume"?
Well, for now, no.
What you're really asking is why isn't this stock behaving (in the short run) the way I want it to? And you have all the possible reasons in the posts you say you have read.
So I'll add this. Markets don't always get it right in the short run. But over the long haul, they generally do.
Expand your time horizon. Mix in a dose of patience. If the company does what you think it will do, so will the stock.
I wouldn't expect a new analyst to come along prior to launches, sales, or a Femprox partner announcement.
As you know, analyst coverage is often a result of an investment or banking relationship. Got to be something in it for them.
Even with big name stocks (I own a few of those) a new analyst with a "Buy" recommendation and decent price target has a temporary market influence.
The path to higher PPS is clear. Sales growth, royalties, revenue on the books, earnings. New products in the pipeline. Credible management.
I betting this is going to happen. Slower than most on this board, but it looks like we will get there.
Bingo DG. I'm in danger of become SB II as I hammer on the Vitaros sales topic. But this is critical to the credibility and longevity of Apricus. If we don't see Vitaros sales it can hurt the release of other offerings (including the much beloved Femprox).
I think the other reason for a low pps is this isn't a cure for cancer, a new vaccine, or in FDA trials. The market rewards those bio techs even when they have nothing approved for sale.
All this being said, I am still deciding how much to add to my current position. I hope we see an ugly downturn (temporary) where I can get some cheaper shares.
Analysts price targets aren't worth much. Look at how wrong they often are.
What does have some value is how they get to the price target. In the case of Apricus trying to build a financial model is difficult until they can realistically project... (drum role please) SALES.
It's not a $15 stock. Not even a $3 stock.
At least not yet. While it's OK to dream of big returns just know those are dreams.
Now back to reality. We don't know where this is headed until the partners SELL Vitaros. As I've said before in other posts, I don't care about launches (that's an interim step). Market acceptance is what we need to drive the stock price up and keep it there.
I agree with you here Reflection.
They may decide to do another offering IF they want to get the US rights back, need more funds for Femprox (even if they secure several partners), or have other products in mind.
I've seen micro caps do additional offerings after a decent stock run. They time it so they can get more $$ for the same number of shares.
APRI short term price action.
I agree DG on the both the financial situation and the current price action. And as I said in an earlier post this was predictable given the CC. It's not the CC was bad, just nothing to motivate buyers. And I think we can assume no great write-up from Cantor.
From a larger view the stock has performed very well since the end of January. Perhaps not enough for those who are long and still underwater, yet it is in a clear uptrend.
Thanks for the notes DG. Well, in the end it is all short term guesswork. The market has the final say.
I think it's fine if we disagree on some of the finer points. But as LT shareholders we are after the same goal.
DG, unlike most I don't think product launch is the next big stock catalyst (maybe for a couple of days). As investors say a Vitaros launch is now "baked in the price". That's why the stock has climbed from sub $2 and above $2.50. I think Cantor had the right call on this last year.
And I don't mean to downplay the importance of product launches. Shorts should be concerned and the stock price has found a bottom. A product launch announcement and shorts covering will be a short term move up, but these types of PR blasts are temporary.
For my money I'm interested in LT shareholder appreciation. I've got more to invest as we get closer to Femprox partners and reports of Vitaros sales.
My initial take on the CC was we didn't learn all that much new. We got a bit more information about Vitaros launch conversations. And we won't see Vitaros royalties until 3rd/4th QT.
Usually the best part of a call is the analyst Q&A. I want to read the questions again but nothing stood out. And with the exception of Roth Capital partners, I don't think Cantor or the other company seemed all that interested. I wouldn't expect an upgrade yet.
From a stock price perspective I think it falls back a bit (no great new news) and finds a base until the next big announcement. We aren't going to see Vitaros revenue till 3rd/4th QT so that will be a Femprox partner update.
29th Annual EAU Congress April 2014
"A new paradigm in the treatment of ED - the topical option" sponsored by Apricus Biosciences. April 11. http://www.eaustockholm2014.org/scientific-programme/programme-overview/?ShS=5650
The Chair (Mulhall) and Speakers are listed below.
Dr. John Mulhall is an urologist in New York, New York and is affiliated with Memorial Sloan-Kettering Cancer Center. He received his medical degree from University College of Dublin National Univ FOM and has been in practice for 18 years. He is one of 16 doctors at Memorial Sloan-Kettering Cancer Center who specialize in Urology.
Yacov Reisman, MD Urologist Amstelland Hospital Amsterdam. He also lists himself as a sexologist at AMCHS off his Facebook. I also discovered he is the Education Committee Chairman for the European Society for Sexual Medicine.
François Giuliano is a Urologist in the Department of Physical Medicine and Rehabilitation at the Academic Hospital of Garches and a Professor of Therapeutics at the University of Paris West. His major research interests include pathophysiology, diagnosis and management of sexual dysfunctions, benign prostatic hyperplasia and urinary incontinence and co-morbidities such as endothelial dysfunction.
Dr. Edward Kim is an urologist in Knoxville, Tennessee. He is affiliated with multiple hospitals in the area, including Athens Regional Medical Center and LeConte Medical Center. He received his medical degree from Northwestern University Feinberg School of Medicine and has been in practice for 25 years.
Until I read the speaker list I wasn't impressed. I am now.
Hi tmoe. I'll offer a few thoughts.
First, I've wondered why there aren't more open market buys from APRI Executives and/or Directors. If the stock is really cheap in their eyes, then they should be buying it (and then we would know). It's less than $2.50 share. This would be true even if they already own a number of vested shares.
As for partners and their employees it would depend on the employment agreements. I also wonder if these partners sell competitive ED offerings and how this will impact Vitaros sales efforts.
Finally, a short term perspective on the stock price is it bottomed late January, and is on an upward trend. Where it should be is a matter of opinion (which I have none to offer) given we don't have sales data.
Make no mistake about it. The biggest catalysts to the stock price, in 2014, will be Vitaros product sales and confirmed Femprox partners. Oh, and maybe a short squeeze mixed in somewhere.
Mophron, thanks for the full explanation.
I still see this a bit differently. The current value of the company is in the patents, approvals, and the current license agreements (specifically the upfront payments).
As you know, they could earn up to $200M in Vitaros royalties. This is (as we shareholders know) not within their control as their licensed partners sell the product. And as of this post, Apricus hasn't confirmed launches or documented product sales.
While it may be true this stock contains more known data than the universe of bio-tech companies, the stock launch is dependent on product sales. So for me that is the speculation value and the main reason to be a shareholder. Yet the big unknown is how the market accepts this ED offering and how fast it is sold.
Note: I added to my position today. APRI is now 12% of my LT investments (Roth and IRRA).