Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
That's not true!! Not at all!!! Go back and read slide 25.
It does not say Vitaros revenue will fund operating expenses "FOR" 2016... It says "INTO" 2016....
That's not a simple typo on your part be honest.
I got a news for you... We are now "INTO" 2016 and APRI is by my calculations running on fumes.
Well before you start calculating all that Vitaros money please allow me to give you some help understanding business.
Let's say you own a small chain of retail stores, 3 to be exact. And in the course of a year you open 3 more stores now sales have doubled... Did they really?
What if you actually had one store close leaving you with only 5?
Business people look for "same store sales Q over Q" to get a true picture of how a business is doing. You must remove the hype of new revenue from a new store.
The sales in the UK are flat. Germany has quit. Yes sales appear up because France has made a real push along with Spain and Italy but the true picture for Vitaros looks terrible "IF" you are thinking it's going to generate big revenue. Based on the FACTS It's a real struggle.
The good news is every penny it sends APRI helps.
The future of the company is Fispemifene, and you need to understand the PPS is $.89 because the market see's the revenue picture and cash on hand and management has failed to communicate any path forward for financing the pipeline.
PS... I'm not Simon
APRI down again? I have a message from Richard Pascoe that will make it much better.
"I especially want to thank our investors for their patience and support as we look forward to commercial and clinical success in 2016 and beyond.”
TO INFINITY AND BEYOND!!!!
That's what I'm saying Casino. There are very limited reasons for reluctance to raise capital if you are really planning to be a clinical development company. The costs for late stage trials of both RayVa and Fispemifene will need to be on hand soon.
The company could have raised 10 to 15 million earlier this year and used the funds and Vitaros revenue as leverage for debt to fund the trials but nothing got done.
Denner can say no to a raise via Aspire and has the right to buy in on another raise first if another interested investor came forward. The thing is Pascoe is not even making a show at investor conferences so he must have whatever the plan is in place.
The options as I see it are, they have been in talks with someone for either a buyout, a merger, or a major partnership on the pipeline, pending the Fispemifene results. Or, Pascoe and the board plan to dilute us after the Fispemifene results which will leave the PPS in ruins.
Even if Sarissa were interested in a lower PPS via being a party to the raise that would have them owning a huge percentage of the company and no way to unwind it. They would be on the hook for the very long haul. I don't see that.
I stand by I think the company is for sale pending Fispemifene results.
Well, I'm not Court, so there's the main reason. Hahaha. I don't know what you guys find so upsetting about me saying Pascoe has been terrible, the company is out of money, and the idea they are going to go forward on Vitaros revenue is crazy off base?
I do believe the company is for sale pending the Fispemifene results. I have no crystal ball, but the lack of a raise to date knowing the financial situation certainly is curios.
First, I'm not Court.
Second, you need to get a calculator. In the PR they gave a run rate of 110k units of Vitaros per month. Multiply 110k by an average royalty of $3 then multiply your answer by 12.
Now figure APRI burns down historically about $14 million per year excluding clinical trail costs.
Explain to this board how no raise is coming wise one.
Well I guess that's something...
Hey Rich Pascoe, are you attending #JPM16 ?
Nope...
Rich Pascoe,
"I especially want to thank our investors for their patience and support as we look forward to commercial and clinical success in 2016 and beyond.”
JOKE!!!
APRILOV,
Your need to insult me is certainly odd... Especially from a guy on vacation from this board. I don't recall ever trying to demean you? Are you perhaps just mad at yourself for believing in APRI from the $4s?
I have been as straight us I can be about my thoughts here. I told everyone who would listen that the idea of $300 million per year at peak sales in Europe and Canada of Vitaros was nonsense.
I tried to tell anyone who would listen Femprox was dead.
I tried t tell anyone who would listen that the cash crisis for APRI was coming, starting the alarm bells last April.
I tried to tell anyone who would listen... But instead of credit, I get dumped on. Ok, fair enough...
The fact is I'm upside down on APRI like everyone else. Granted, with a PPS in the mid $1s, but upside down just the same.
I told anyone who would listen that Fispemifene has real value and I'll be correct in that too... The question is will Pascoe's poor management of our resources prove me right but also doom me to only break even? That's a real possibility.
I still think the company is for sale, pending Fispemifene results.
BB, Why would we not talk to a short?
I wondered that too Casino. Maybe he declined because he already collects a huge salary, cash bonus on corporate goals not connected to the PPS performance and is loaded with options (out of the money) from the past 3 years.
No way to know.
Agreed. I'm counting on their greed, but I worry because as a rule they have been useless.
With the markets in free fall this is looking like a really bad time to be out of cash. Hey has anyone here yelled and yelled all year for Pascoe to get our financing done?
I still think the company is for sale. Otherwise Pascoe has killed us.
Great post Hentied but don't expect understanding...
I don't think the losses will be as deep as you project as they incurred the costs of the RayVa and most of the Fispemifene trials in the prior quarter as well as having completed the RTD development for the most part as well as seeing perhaps double the Vitaros royalty, but the cash position is in the end still the same. They don't have any money to spare and have no money for any additional development work and will run out of operating capital in the not too distant future without some access to new money.
I expect a Pascoe PR at any moment.
"In aligning corporate objectives with shareholders we are proud to award Rich Pascoe 500k options for the accomplishment of the PPS reaching $.99 a year to date high".
I can hear Pascoe now, "I'm very proud to have led Apricus in continuing to build shareholder value and the achievement of $.99 is a reflection of all the hard work by our board and employees."
They/We are slaves to Sarissa.
The total net proceeds from the offering were $10.9 million after deducting expenses of approximately $0.1 million. The subscription agreements grant certain of the purchasers preemptive rights to participate in future equity issuances by the Company, subject to certain exceptions, and require that the Company obtain permission from certain of the purchasers prior to selling shares under its committed equity financing facility with Aspire Capital Fund, LLC (“Aspire Capital”).
Sarissa, can force the company to brink in it's cash position.
Are you attempting to make people think Vitaros is going Over The Counter?
Stop it. It's not.
The fact is Pascoe is failing shareholders and has our PPS under a buck. I think the company is for sale.
Aprilov,
Investors here have been around long enough to see right thru the Pascoe double speak. They have not said the RTD and a variation is purposefully misleading. If they had the RTD formula and delivery working they would say so.
The management here is never to be given the benefit of the doubt.
Hiding in the closet with the Femprox partner and the Canadian Vitaros launch.
I think you got that right, or some other news.
Clearly inside game playing at he shareholders expense.
We might actually get some news now. I'm sure it's just a coincidence that the board gets their shares 3 weeks earlier this year while we wait for news under a buck right?
Kleanthis getting 50k shares is insulting.
In fact they should all give the options back and apologize to the shareholders for the lousy job they've all done the past year.
And don't think nobody notices you get the issuance done 3 weeks earlier than last year to be sure to get in under a buck.
These people are incredible.
Mecosmo,
Why do you post lies about the FDA having Fispemifene on the calendar on the Yahoo board?
That only makes people wary of buying, if that's your goal.
3-31-16 for Fispemifene results would be par for the course of a Pascoe led operation. But pointing to that as a certainty is baseless.
The company has affirmed that results will be out in Q1, but has not given a date. Management confirmed the completion of enrolment on Oct 28th so we could see something at anytime.
What tease? Forendo only licensed the US rights of Fispemifene. They still have the rest of the globe to sell... It only makes sense that they would want to play off the trial results from us.
Forendo is obviously starting to position Fispemifene rights for global sales t take advantage of the up coming Apricus results of the phase 2.
Bid .9899 Ask .99
Could the spread get any tighter?
It's a short with clout. nobody in their right mind places that size block in what's most likely an all or none ask. We don't do that much volume in 3 days... It's a F/U move.
Yep... I see it too...
Must be Kleanthis and Pascoe shorting.
I just spoke to Mecosmo's accountant who directly spoke with Pascoe. According to him Pascoe certifies that the most the PPS can lose from here is $.99 per share. So Pascoe feels really good and Mecosmo's accountant stands with him on it.
Not a single inside buy, from any member of management, or the board as the PPS dropped below $.90?
Yeah, I think if these guys don't have some sort of deal in place and come out in Q1 with some sort of toxic financing just to keep going there will be blood in the streets and shareholders with torches and pitch forks storming the HQ in San Diego. LOL!!!
Because for almost the entire year they could have raised money above $1.50 either thru Aspire or even off our shelf on volume spikes.
The only reason to not do that is if you know you don't need to.
If in fact they just failed to act all year and have nothing going? Pascoe has to go, along with his inept BODs.
Yeah, not only the cash issue, and the incredible lack of interest in raising funds the entire back half of 2015, but they have gone totally radio silent across the board on all issues.
RTD completion?
Updates on other indications for Fispemifene?
Conferences they plan to attend in Q1?
Total bunker silence... I think they have been in talks and have the framework of a deal and we are waiting for Fispemifene results.
Yeah, that must have been an error. I think we will move up very soon. Really light on the ASK actually. But ya never know.
I saw a 5k, not a 500k...
My hunch is they are already in talks.
Oh,,, I'm counting on their greed too OC...
Greed and expedience...
OC, that would be a double + for Sarissa, and a quad for anyone buying today. Pascoe is loaded with options at $1.43... I don't think these guys would wait for anything higher.
Just my opinion...
Aprilov, $3.80 is not my choice, it's my prediction.
A chance, to get their shares bought out at $3.80 for Sarissa who got in at $1.73 and for our board, like Kleanthis and Pascoe? They'd take it... Especially if Pascoe is offered a job with it or if Alex Denner helps him in his next appointment.
And the fact the PPS saw $2.78 on the Denner news a year ago? It's where the PPS is now that matters. $1.05
What's inconsistent with that? This company has not seen a PPS of $3 in years much less almost $4...
Yes, "if" Apricus goes it alone all the way to an approval of Fispemifene the reward would be enormous, but the risk to get there would be equally big, and the dilution to get the cash to get there would be almost unthinkable.
Hey, call me what you will, I don't think it's inconsistent at all.
I think the takeout thesis I put out today complete with who the buyer will be and why, puts me out on a limb. I'd think a thank you would be in order.
Really? That's hurtful and I'd appreciate an apology.
As for my thesis? Allow me to share. First, I'm sick and tired of certain posters who throw out imaginary numbers about value and sales potential of Vitaros and offer VVUS as some sort of golden merger partner... Barf!!!
Forget about Vitaros... It's a dud.
Sarissa Capital's largest holding is ABBV. ABBV has more going on than can be listed in an iHub post. Current market cap is $97 Billion... That's Billion with a "B"...
They are big in Rheumatoid arthritis with Humira. Think Orphan drug status for RayVa as an addition.
They are big in testosterone replacement therapy with Androgel. The FDA has concerns about artificial testosterone therapy and tey could use an addition that's safer and uses the bodies own ability to produce testosterone. Think Fispemifene.
The results of RayVa were good/great, and I would not be surprised if they are simply waiting the results of Fispemifene and already in some discussion with APRI. This would explain APRI's nonmovement for months on raising cash.
We'll see... Maybe I'm just a bi-polar dude right?