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Who could have guess that this would really happen. Must be fate all along. Most probably not go above 22% in one day.
Does That record still hold?
Car-T Cells by Cold Fusion channel.
Peregrine Pharmaceuticals, Inc. (NASDAQ:PPHM) (NASDAQ:PPHMP) (“Peregrine”) and Ronin Trading, LLC and SW Investment Management LLC (together, "Ronin/SWIM"), collectively Peregrine’s largest stockholder, today announced that they have entered into a settlement agreement (the “Agreement”) regarding the composition of Peregrine’s board of directors and certain matters related to the upcoming 2017 Annual Meeting of Stockholders scheduled for January 18, 2018.
Under the terms of the Agreement, on November 27, 2017, directors Steven W. King, Carlton M. Johnson, Jr., Eric S. Swartz and David H. Pohl each tendered his resignation, effective immediately, from Peregrine’s board of directors, and from the board of directors of its wholly-owned subsidiary, Avid Bioservices, Inc. The vacancies created by these resignations were immediately filled by three individuals who were nominated by Ronin/SWIM for election at Peregrine’s upcoming 2017 Annual Meeting of Stockholders (Richard B. Hancock, Gregory P. Sargen and Joel McComb), and one director (Joseph Carleone, Ph.D.) who is independent of Ronin/SWIM and new to Peregrine. Roger J. Lias, Ph.D., Mark R. Bamforth and Patrick D. Walsh, the remaining members of Peregrine’s and Avid’s original boards, will continue to serve in their respective roles with the company.
“We are pleased to have reached an agreement with Ronin/SWIM and believe that the addition of Messrs. Carleone, Hancock, McComb and Sargen, each with significant experience in the biomanufacturing industry, will add great value as we work to establish Avid as a leading contract development and manufacturing organization,” stated Roger J. Lias, Ph.D., President of Avid Bioservices.
Stephen White of Ronin/SWIM said, “We are pleased that we were able to reach a constructive agreement with Peregrine to reconstitute the board with new independent directors. Rick, Greg, Joel and Joe bring important experience, expertise and perspectives to Peregrine, and we are confident that they, together with Roger, Mark and Pat, will be able to successfully lead the company forward and deliver value for stockholders.”
As part of the Agreement, Ronin/SWIM, which collectively beneficially owns 9.6% of Peregrine’s outstanding shares of common stock, withdrew its nomination of six candidates for election to Peregrine’s board of directors at the upcoming 2017 Annual Meeting of Stockholders and has agreed to certain standstill restrictions until the date that is thirty calendar days after the 2018 Annual Meeting of Stockholders. Peregrine has also agreed to re-nominate a number of Ronin/SWIM’s appointees at the 2018 Annual Meeting of Stockholders.
The complete Agreement will be included as an exhibit to the company’s current report on Form 8-K, which will be filed with the Securities and Exchange Commission.
New Directors
Joseph Carleone, Ph.D. (independent appointee): Dr. Carleone is Chairman of the Board of AMPAC Fine Chemicals LLC, a leading manufacturer of pharmaceutical active ingredients. Prior to this position, Dr. Carleone was President, Chief Executive Officer and director of American Pacific Corporation, a leading custom manufacturer of fine and specialty chemicals and propulsion products. Dr. Carleone has also served or currently serves as an officer and/or a director of several directly or indirectly wholly-owned subsidiaries of American Pacific Corporation. Dr. Carleone received his bachelor’s degree in Mechanical Engineering from Drexel University, Philadelphia, Pennsylvania, in 1968; his master’s degree in Applied Mechanics from Drexel University in 1970; and his doctorate degree in Applied Mechanics from Drexel University in 1972.
Richard B. Hancock (Ronin/SWIM appointee): Richard (Rick) B. Hancock has worked in the biologic CDMO industry for over 30 years in various operational and executive roles, serving most recently as President and CEO of Althea Technologies, Inc., a large molecule CDMO producing a wide range of biologics, vaccines and parenteral products. In addition to Althea, Mr. Hancock has held senior management positions at The Immune Response Corporation, and Hybritech Inc. (now part of Eli Lilly & Company), and he is currently the Chairman of the Board and Executive Director of Argonaut Manufacturing Services, Inc., a CDMO focused on the biotechnology and life sciences industries. Mr. Hancock received a BA in Microbiology from Miami University.
Joel McComb (Ronin/SWIM appointee): Joel McComb is the CEO, Chairman and Co-Founder of BioSpyder Technologies, Inc. Prior to BioSpyder, Mr. McComb served as Senior Vice President and General Manager of Illumina, Inc., President of GE Healthcare’s Life Sciences and Discovery Systems division, and President of GE Healthcare’s Interventional Medicine division. Prior to GE Healthcare, Mr. McComb was the President, CEO and a director of Innovadyne Technologies, Inc., and held various positions at Beckman Coulter, Inc., and Charles River Laboratories (at the time a division of Bausch & Lomb Inc.) where he was a National Business Manager for the company’s monoclonal antibody CDMO division. Mr. McComb earned a Bachelor of Science degree in Genetics from the University of California, Davis and an MBA from Golden Gate University.
Gregory P. Sargen (Ronin/SWIM appointee): Gregory P. Sargen currently serves as Executive Vice President – Corporate Development and Strategy of Cambrex Corporation (NYSE:CBM) (“Cambrex”), a global manufacturer and provider of services to life sciences companies. Prior to his current role, Mr. Sargen served as Executive Vice President and Chief Financial Officer of Cambrex. Prior to Cambrex, Mr. Sargen served as Vice President of Finance – Chemicals Manufacturing Division of Fisher Scientific International Inc. (n/k/a Thermo Fisher Scientific Inc.) (NYSE:TMO), and held positions with Merck & Co., Inc. (NYSE:MRK), Heat and Control, Inc. and Ernst & Young LLP. Mr. Sargen is a Certified Public Accountant (non-practicing) and holds an MBA in Finance from The Wharton School of the University of Pennsylvania and a B.S. in Accounting from Pennsylvania State University.
"We are NOT nominating ourselves to the Board. With the Company's three non-employee directors collectively earning over $10 million in total compensation since the start of fiscal year 2010 (not even including whatever they have received since April 30, 2016), we believe the incumbent directors are grossly overcompensated. We have no interest in receiving this exorbitant compensation at the expense of stockholders; rather, we want to profit with all other stockholders, which is why we are seeking the election of highly qualified, experienced and reputable candidates who believe will be able to create value for all stockholders and bring stability to the Company for its employees and customers. We fully expect that director compensation will be appropriately adjusted downward once new independent directors capable of acting in stockholders' best interests are elected to the Board."
I thank you for contributing most of your money invested into SK and his team. I apologize that you will not get back most of your investment after another RS that you have to go through.
yup i agree that's why ronin bought in because they are savvy investors
Time to write a new letter?
But they choose to be quiet.
I guess you have sell off everything.
"A reverse split is not in the best interest of shareholders"
So does that mean PPHM management have no interest for the shareholders?
Any one here knows how much bonus are the BODs getting this year?
Is it may 2025 that we will be back above a $1 with no 4th rs?
We will still have chance to hit $41/pps next year hopefully.
It seems BODs are doing the foolings.
You should know why we cant get above 1 dollar and it is at your expenses.
Nice prediction. too bad so many fall on death ears. What are your though right now?
Well from the looks of it finally happened it reached 4 dollars per share next week. Will not able to buy at 0.60 anymore :(
It have been a wonderful week. Thanks alot. :)
Wohoo have been waiting for this RS to happen. Time to short it for the next few months till next year. Anyway who would be interested to know how much ATM they have used from this April to July? Once you figure it out, they dont have any intention to get above 1 dollar in the beginning.
After the RS. who would be more interested if they carry on applying more ATM. :)
Well who ever is accumulating don't mind a rs :). and why should we, don't you think.
Maybe green today and tomorrow, red on Friday. Who know right?
Good decision. At least you wouldn't be affected by the rs.
Yes one can hope it turn green.
Just got a hunch who ever is playing PPHM is also playing CTIC also. Both are quite similar trading pattern in 2016 till now.
If by end of the day turns red, most probably will go back down to 30 pennies range and then rs.
"30% Of Population of?"
Oh come on if the data is good the day trader already pump the shit out of the shorters or manipulators. There are no large number of buyers, so what does that tells you, the Shitty data is not good enough for them to buy in.
You see even there is manipulation neither you or me or anyone here can do anything about it not even the over paid BODs.
That's how the market see the data and give valuation to pphm.
Now what? You tell me, you are here long enough to know the answer.
well you can take your time, BLA ain't going to happen "Soon".
The good thing is there ain't anything to evaporate from. Sometime science is not as easy as many though in here.
It seem the market is not too happy with the data. Not too sure how you got that number from? anyway welcome to the club.
The date is longer if needed be.
That would bring us to April 2019
Applicant Timely Files Statement of Use or Extension Request
The Applicant has six (6) months from the mailing date of the notice of allowance in which to either file a statement of use or file an extension request. Please review the additional information for the statement of use and extension request processes.
If the applicant is not using the mark in commerce on all of the goods/services listed in the notice of allowance, the applicant must file an extension request and the required fee(s) to avoid abandonment. Because extension requests are granted in 6 month increments, applicant must continue to file extension requests every 6 months. A total of 5 extension requests may be filed. The first extension request must be filed within 6 months of the issuance date of the notice of allowance and subsequent requests before the expiration of a previously granted extension.
If the applicant is using the mark in commerce on all of the goods/services listed in the notice of allowance, the applicant must submit an statement of use and the required fee(s) within 6 months from the date the notice of allowance issued to avoid abandonment. Applicant cannot withdraw the statement of use; however, the applicant may file one extension request with the statement of use to provide more time to overcome deficiencies in the statement of use. No further extension requests may be filed.
I guess we are the smart money left... what's left of it.
I think SK must be mistaken, i apologise on his behalf.
Do you think our SP will be below $5 by end of 2017?
Well sometime SK are not sure if he is giving us the correct puzzle pieces.
But he always make sure there are carrot dangling in front of us so we don't get hungry.
Sure wish we could see $3.30... compare to $0.33 now. what happened to the "whispers"?
“As Joe provided an update on our collaborations with AstraZeneca and the NCCN, I’d like to provide an update on Peregrine’s other I-O-focused collaboration with the Memorial Sloan Kettering Cancer Center. The goal of this partnership is to evaluate combinations of bavituximab with other checkpoint inhibitors & immune stimulatory agents for the purpose of developing new and increasingly effective anti-cancer treatments. This work is advancing well. To date, we've seen initial signs of activity with new combinations with bavituximab and other treatment modalities, such as checkpoint blockers, T-Cell agonists, * and radiation *. Our plan is to spend the next year investigating these possible combination potentials. We are also renewing the contract for next year as we’ve seen exciting results thus far.”
This year is going to be quiet. Phase 2 + Phase 3 going to take 5 years, not even sure by then will we get FDA approval or another failed trial.
If you Don't mind waiting.