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Ku... things going to get shaken up soon?
They pore over balance sheets and clinical data, hunting for undervalued companies. They wait for executives to make mistakes that send their stock tumbling, creating an opening to scoop up shares at a discount and begin shaking things up.
These investors have become an increasing concern of biotech executives, who argue their short-term outlook undermines a business that demands a long-term view. Drug development can require years or even decades of research before it pays off; activists want quicker returns and say too many biotech executives aren’t looking after the interest of stockowners.
https://www.google.com/amp/s/www.bostonglobe.com/business/2015/06/20/biotech-executives-urged-think-like-activist-fend-off-corporate-raiders/EAO0QwBOatOJlijjgD3H7I/amp.html
Change is coming for the best....
You build it and they will come, PPHM has built it, manufacturing, Exosomes test kits, ps platform etc.
They are coming "funds" and have been buying, next is change from partnerships, licensing, manufacturing growth and imo management.
Interesting......
Activist hedge funds often start their campaigns against public company targets by taking large stock positions and then publicly agitating for changes, such as stock repurchases, extraordinary dividends, dispositions of non-core businesses or an outright sale of the company. There is often an implicit or explicit threat of a proxy contest to remove some or all of the target board members and management if their demands are not met. Ultimately, the activist may receive one or more seats on the target company board, either through a settlement with the target, or success at a stockholder meeting.
https://corpgov.law.harvard.edu/2014/07/07/hushmail-are-activist-hedge-funds-breaking-bad/
Don't know how many shares have been accumulated, ATM increased and Ronin buying could be the case in latest ATM issued shares
Many ways to accumulate the float under the radar without reporting. I have listed them before.
Things that have happened over the past year and now setting up for a big move up, the long term accumulation of shares are in strong hands that settle for long term holdings, control in the company policies/BoD and massive returns.
One method of accumulation is block building; block-building aims at influencing corporate policies or control, then the long position with which the voting rights are endowed becomes necessary. This explains why confidential treatment is constantly sought after by M&A arbitrageurs and activist shareholders.
We have also witnessed the following:
Instead, here’s how he sets it up: first, he’ll “shake out” the little guys by forcing the stock lower in order to get a better price
It takes a while for a pro to accumulate a position in advance of a big move – buying too many shares at once would cause the price to rise too quickly
“The preparation of an important move in the market takes a considerable time. A large operator or investor acting singly cannot often, in a single day’s session, buy 25,000 to 100,000 shares of stock without putting the price up too much. Instead, he takes days, weeks or months in which to accumulate his line in one or many stocks.”
“When he wishes to accumulate a line, he raids the market for that stock, makes it look very weak, and gives it the appearance of heavy liquidation by sending in selling orders through a great number of brokers.”
The whole move is manufactured.
“By keeping the stock low and depressed, he discourages other people from buying it and induces more short selling. He may, by various means, spread bearish reports on the stock. All this helps him to buy. When he is thus buying and selling to accumulate, he necessarily causes the price to move up and down, forming the familiar trading ranges, or congestion areas, which appear frequently on figure charts.”
Using this method, the pro will accumulate a large enough position to effectively remove almost ALL would-be sellers from the market
https://www.google.com/amp/business.financialpost.com/investing/the-secret-trading-strategy-from-the-1930s-that-hedge-funders-dont-want-you-to-know-about/amp
I don't think we get to that point but to the naysayers now it's publicly stated that management doesn't want a reverse split and they will appeal and for all the reasons you listed.
We shall see who is right by 4/10
I especially like the timing going into AACR in April.
They plan to appeal if they are not above $1 for 10 consecutive days.
They can appeal to Nasdaq, SEC, and court system.
From transcripts:
Let me discus our strategy and future steps we plan to take over the next few months. First and foremost, we have determined that it is not in the best interest of our stockholders to affect a reverse stock split prior to April 10, 2017. If our share price does not trade above a dollar for 10 consecutive trading days by April 10th, we expect to receive a notice of delisting. If we received this notice, we will appeal this decision within the required seven days and this appeal will stay any delisting actions by NASDAQ.
At that point, NASDAQ will schedule a hearing, which is typically held within 45 days and we will present our plan to regain compliance. We are considering several past to regain compliance, including having additional time to continue to allow the market to adjust -- to reflect the current value of Avid as evidence with the recent movement in our share price. The hearing panel could afford us up to 180 additional days to regain compliance; although, this additional time is not guaranteed and this decision is at the discretion of the NASDAQ’s hearings panel.
Ronin doesn't see it that way. They keep adding
The trend is up, all pullbacks we have seen the past month have filled and moved back up and last Friday we learned Ronin increased their stake. The volume is still strong and the trend is up, wouldn't be surprised to see 1-3 more new funds in the coming weeks.
I agree that they will avoid RS, funds will continue buying/adding and the long awaited news IMO will be out soon.
Thoughts on this?
Could Ronin be working with a 3rd party? Acquiring enough shares to sell?
Question: When a Schedule 13D reporting person enters into a contingent contract with an unaffiliated third party for the sale of enough shares that would cause the third party to hold over five percent of a class of equity securities registered under Section 12 when the sale occurs, is the third party required to file a beneficial ownership report? Is the Schedule 13D reporting person required to amend its Schedule 13D promptly upon execution of the contract?
Answer: The third party does not acquire beneficial ownership until it has a right to acquire the shares within 60 days; accordingly, the third party has no beneficial ownership reporting obligation until the contingencies over which it has no control are waived or satisfied. If all material contingencies are within the third party's control either to waive or satisfy, then the third party has a beneficial ownership reporting obligation upon execution of the contract. In addition, the person already reporting on Schedule 13D must promptly amend its Schedule 13D Item 4 and Item 6 disclosures as a result of the contingent contract. [Sep. 14, 2009]
https://www.sec.gov/divisions/corpfin/guidance/reg13d-interp.htm
Schedule 13D, Item 6
A 13D reporting person entered into a contingent contract with an unaffiliated third party for the sale of a sufficient number of shares to cause the third party to hold over 5% of the equity class when the sale occurred. The filing person must promptly amend its Schedule 13D Item 6 disclosures as a result of the contingent contract. However, the third party purchaser will not acquire beneficial ownership until it has a right to acquire the shares within 60 days; accordingly, the third party purchaser has no Schedule 13D filing obligation until the contingencies over which it has no control are waived or satisfied. If all material contingencies are within the third party's control either to waiver or satisfy, a Schedule 13D filing obligation arises immediately upon purchase.
Schedule 13D; Rule 13d-2(a)
Although short sales by a 13D reporting person normally will not change that person's Rule 13d-3 beneficial ownership (since such sales do not change the amount of shares over which the reporting person has voting or investment power", such sales may trigger a requirement to amend the Schedule 13D pursuant to Rule 13d-2 unless all applicable changes in the facts previously set forth in the reporting person's Schedule 13D are not material. For example, the short sale may represent a change in the source of funds (Item 3), a possible shift in purpose (Item 4) (particularly to the extent that a plan or proposal to dispose of securities of the issuer was not disclosed previously), a "transaction" in the subject security (Item 5), as well as a "contract, agreement, understanding, or relationship ... with respect to ... securities of the issuer" (Item 6) and required exhibit (Item 7). The same analysis applies to a pledge of the securities in a secured transaction or the writing of call options.
https://www.sec.gov/interps/telephone/cftelinterps_reg13d-13g.pdf
The 13D may also be a precursor to a takeover attempt on the part of an outside investor, or part of a process to gain seats on the board or de facto control of the company by owning a large, controlling block.
The filing of 13Ds is the most important signal to investors that a change of control at a company may be underway or that an investor is trying to get management to make changes to increase shareholder value through methods such as cost-cutting or the sale of part or all of the company
When an investor purchases more than a 5% share in a company and files a 13D, that investor may also attach a letter to management explaining the reason for the action. These letters are usually critical of management and the board directors, and address the reasons that the investor believes the company's stock is undervalued.
http://www.investopedia.com/articles/stocks/07/13d.asp
Your welcome, to me it seems like they are here for the long haul and the possibilities of increasing their stake and to make changes.
JMO
What constitutes a “group” for purposes of beneficial ownership?
The term “beneficial owner” is not defined under Section 13(d). However, under Rule 13d-3, a beneficial owner encompasses “any person who, directly or indirectly, through any contract, arrangement, understanding, relationship, or otherwise” maintains any voting or investment power with respect to a security. An aggregation of persons or entities (i.e., a “group”) may be the beneficial owner of 5% or more of a particular registered security to the extent they “act for the purpose of indirectly or directly obtaining securities as part of a ‘plan or scheme’ . . . to be the beneficial owner of such securities.” The fundamental factor for determining whether an aggregation of persons constitutes a group is whether the persons are “combined in furtherance of a common objective.”39 Such a “concerted action” by the group’s members does not need to be formally memorialized in writing.40 The legislative history of Section 13(d)(3) under the Exchange Act expressly establishes congressional intent to ensure that those groups are subject to the requirements of Schedule 13D or Schedule 13G, even where the individuals alone would not exceed the 5% reporting threshold.41 However, the SEC Staff has made it clear that the formation of a group under Section 13 does not, without more, result in the “attribution of beneficial ownership to each group member of the securities beneficially owned by other members.”42
Must each member of a group file a Schedule 13D or Schedule 13G individually?
Under Rule 13d-5, a group’s filing obligation on either Schedule 13D or Schedule 13G may be satisfied by either a single joint filing among all the members of the group or by a single filing by each member of the group. A group may file a single statement concerning the information required by Schedule 13D or Schedule 13G with respect to the same securities, provided that:
Pages 9-10
https://media2.mofo.com/documents/faqs-schedule-13d-g.pdf
This move down is flushing out weak hands and creating fear of more downside and RS.
News can still move this up past $1
When must a Schedule 13D or Schedule 13G be amended?
Where a material change occurs in the facts set forth in a Schedule 13D or Schedule 13G filed under Rule 13d-1, including, but not limited to, any material increase or decrease in the percentage of the class beneficially owned, the person or persons who were required to file the statement must promptly file with the SEC an amendment disclosing such a change.67 For example, an “acquisition or disposition of beneficial ownership of securities in an amount equal to 1% or more of the class of securities shall be deemed ‘material.’”68 However, acquisitions or dispositions of securities that constitute less than 1% of a particular class of securities may nevertheless be “material” on a case by case basis.69
In the case of a security holder that has failed to make required amendments to its Schedule 13D or Schedule 13G in a timely manner (i.e., any material changes), the holder must immediately amend its schedule to disclose the required information. The SEC Staff has explained that, “[r]egardless of the approach taken, the security holder must ensure that the filings contain the information that it should have disclosed in each required amendment, including the dates and details of each event that necessitated a required amendment.”72 However, the SEC Staff has also affirmed that, irrespective of whether a security holder takes any of these actions, a security holder may still face liability under the federal securities laws for failing to promptly file a required amendment to a Schedule 13D or Schedule 13G.73
https://media2.mofo.com/documents/faqs-schedule-13d-g.pdf
Simple fact, why reveal your hand? If they wanted to trade they wouldn't file a 13D, they could have bought under the percentage and traded many times without filing. So, it does not appear to be a trade in Ronin's case but a strategic move.
A Schedule 13D is significant because it provides investors with useful information about majority ownership in the company. It tells the name, ownership amount and intentions of any investor who has purchased more than 5% of a company. Schedule 13D lists everything an investor could want to know, including the intentions behind the buy and how the buy is funded. Because of this, the schedule 13D has taken on more significance as a takeover indicator in the years since its creation.
Consistent with the general purpose of the U.S. securities laws, Section 13(d) provides individual investors with greater transparency through informational disclosure. In many respects, Section 13(d) acts as an early warning, signaling “every large, rapid aggregation or accumulation of securities, regardless of technique employed, which might represent a potential shift in corporate control.”1
https://media2.mofo.com/documents/faqs-schedule-13d-g.pdf
Nice post and couldn't agree more, one thing I have learned is one cannot out smart MMs or the market not even Warren Buffet picks the bottoms or tops. Too much noise here lately (doom and gloom) yet what has changed for the worse? Only looking better and better for PPHM. I'm holding as I see PPHM way undervalued and PPHM holds many Aces in their hands and will not only become profitable from manufacturing in the near future but also from partnerships and licensing.
GLTA
2million grant to NCCN for selected trials to start early 2017
The following NCCN-affiliated researchers were recipients of the grant awards:
Jessica Frakes, MD, Moffitt Cancer Center, "A Phase I Trial of Sorafenib and Bavituximab Plus Stereotactic Body Radiation Therapy (SBRT) for Unresectable Hepatitis C Associated Hepatocellular Carcinoma"
Elizabeth Gerstner, MD, Massachusetts General Hospital Cancer Center, "Phase I/II Clinical Trial of Bavituximab with Radiation and Temozolomide for Patients with Newly Diagnosed Glioblastoma"
Ranee Mehra, MD, The Sidney Kimmel Comprehensive Cancer Center at Johns Hopkins, "Phase II Study of Pembrolizumab and Bavituximab for Progressive Recurrent/Metastatic Squamous Cell Carcinoma of the Head and Neck"
Thanks AspenMTB
But check this out and the article.
Many companies find themselves in the same maddening position. After years of increasing demands for more transparency about corporate results and practices — most of which have been met — there remains a fundamental disconnect in shareholder relations: many investors are simply anonymous. “We have to disclose everything there is to disclose,” says Brooke Wagner, vice president of corporate communications at Indevus Pharmaceuticals. “Yet we’re not allowed to know who owns us.”
Just might not find out who has been accumulating over the years as some want to be anonymous.
But actually identifying stockholders is like “grasping for straws in the wind,” says IR consultant Trudy Self. Part of the problem is that the rules to ensure transparency are woefully out of date. The Securities and Exchange Commission first drafted Section 13F, which requires investors with more than $100 million in assets under management to disclose their positions within 45 days of the end of each quarter, in 1975. That was long before the proliferation of hedge funds, electronic markets, and algorithmic trading.
http://ww2.cfo.com/risk-compliance/2007/10/who-owns-your-stock/
So all those collaborating with PPHM are wasting their time? Like MSKCC
Good to know that Dr. Wolchok has nothing better to do then waste time with PPHM.
Agree 4OUR and no one accumulates for long periods of time or takes 5%+ for small gains and without proper evaluation of the company. We will see new funds come in and push PPS higher.
Given the considerable sums of money that institutions invest, it is not surprising that they tend to be much more knowledgeable than the average investor when it comes to the companies and industries in which they have invested. Institutional portfolio managers often meet personally with a company's top executives, and in many cases the research they conduct is further supported by equity analysts -- known as "buy side" analysts -- who evaluate prospective companies and industries in great depth before making specific investment recommendations.
Many investors regard institutional support for a security as a sign of approval, and institutional accumulation of a stock can raise its price considerably. However, other investors believe that once many institutions have piled into a company's shares, it is too late to realize substantial gains. These investors deliberately seek investments with little or no institutional ownership under the assumption that bigger traders will soon "discover" the security and push its price higher.
This is where we are... institutions will start buying in pushing PPS higher.
Good article to read and here is a quote from head of Roche medical diagnostics research.
Walter Koch, head of global research at Roche Medical Diagnostics in Pleasanton, California, says, “It's going to be quite challenging to get to those early-stage detections.... I worry that we don't yet have the clinical data to substantiate a lot of these bigger opportunities that we all would like to have.”
http://www.nature.com/nbt/journal/v34/n11/full/nbt.3717.html
Never forget this Quote:
For 2.5yrs EveryPositive PR Produced Negative PPS Movement...
which defies the Laws
But now we get 1 delayed PR on (Exosomes proof of concept) and PPS more then doubled on very high volume...then we learn of Fund 6.8% new stake.
Start to a new trend IMO and more PRs to follow.
Looks like same pattern when it was at $.58-$.59
Bounced around there under and over for days before the next move up. If pattern is similar then next move should be in the $.90s
Quote.
Let the bidding wars begin...for the few left that want to prove they are deserving of advancing PS Targeting...fully
That's what Dart will do when and if the time comes... cause a bidding war.
Dart could have doubled his position using CTOs
https://www0.gsb.columbia.edu/mygsb/faculty/research/pubfiles/6037/Hedge_fund_skill.pdf
Hedge funds may seek confidential treatment for stocks that are part of their ongoing acquisition or disposition plans.
block-building aims at influencing corporate policies or control, then the long position with which the voting rights are endowed becomes necessary. This explains why confidential treatment is constantly sought after by M&A arbitrageurs and activist shareholders.
Don't underestimate the science and those that are accumulating
Science is NOT worth $0
Funds like Dart don't sell for pennies.
Ronin won't sell for pennies
AVID alone is worth $1-2
Dart will not sell less then 2Billion
Here is what head of Roche medical says about liquid biopsy
Critics say that such cancer screening tests for healthy individuals will remain holy grails —or worse still do more harm than good—unless the technology can increase in sensitivity and selectivity. Walter Koch, head of global research at Roche Medical Diagnostics in Pleasanton, California, says, “It's going to be quite challenging to get to those early-stage detections.... I worry that we don't yet have the clinical data to substantiate a lot of these bigger opportunities that we all would like to have.”
This contrasts with a liquid biopsy. The allure of these blood-based tests is that they can provide a window on a patient's tumor status at multiple times as disease progresses1. Blood testing could enable the tracking of emerging tumor resistance to a cancer drug2, reveal the presence of residual disease3 or alert an oncologist to the reemergence of a tumor4. Ultimately, if clinicians can match such test results with a cocktail of targeted anticancer therapies, the promise is that advanced cancers could become manageable chronic diseases,
http://www.nature.com/nbt/journal/v34/n11/full/nbt.3717.html
Makes one wonder what PPHM Exosomes test kit will be worth?
Collaborations are key
"The only possible way out of this drug discovery dilemma is an increasing reliance on outside collaborations. The prevalent attitude in most large pharmaceutical companies is similar to that recently expressed by Daniel Vasella, the president of Novartis (Basel, Switzerland): "External alliances accelerate the pace of drug discovery far more rapidly than a company establishing research capabilities solely in–house."2
Taking a page from Genentech's early history, it is my thesis that small biotechnology companies are better equipped to take on this integration process through collaborations. By sharing their technological riches they will more quickly achieve the integration that the pharmaceutical industry is demanding and build value for the companies involved.
This is the path that PPHM is on and will lead to deals, partnerships, licensing.
http://www.nature.com/bioent/2003/030101/full/nbt0598supp_31.html
Exactly JJ
PPHM has many aces in their hands and currently the negative outlook that some can say is "management " and "RS" ... well what happens if management strikes multiple deals and no RS is needed? What will they say or invent later to put PPHM down?
You are absolutely right that the list of positives is long and shareholders know them.
I always like referring to this article and quote:
. The big companies generally wait for proof of concept and then swoop in to either license the technology and/or the drugs stemming from it or to purchase the companies outright. This can lead to some incredible homeruns for investors in small companies so much so that one success can offset several failures.
But what happens until then:
For those like me who are attracted by potentially breakthrough technologies, you will inevitably get caught up in a manipulation that leads to a suddenly plunging stock price of a company in which you are invested. Invariably the scheme starts with and is perpetuated by a flurry of blogs, tweets and message board comments which proclaim that the technology is worthless; management is a band of liars and thieves; and people with a positive view on the Company are being paid by the Company. Then come the lawsuits against the Company and management by the usual group of class action law firms. Each year this scenario is played out hundreds of times.
https://smithonstocks.com/illegal-naked-short-selling-appears-to-lie-at-the-heart-of-an-extensive-stock-manipulation-scheme/
Look at the charts from this link. You can see the similarities in PPHM movement
It moves up as Platforms commonly do after a resting, high range compression. This is not going to be a Swing Style Trade here though, because the buyers at this level are Giant Institutions using Dark Pools once again in accumulation mode, and Professional Traders have moved on. Resistance is the reason.
http://stockcharts.com/articles/technitrader/2016/06/martha-stokes-technical-support-and-resistance.html
The churning of shares and high volume is a good sign. Weak to strong hands. We platform based in the $.58-.59 for days then moved up and looks like some basing here $.68-$.70 range before next move up
If this continues then
I think we can be around $.90-.95 by end of week.
Ronin stake put in a solid floor but more consolidation here.
$1 is still undervalued based on AVID alone and possibly up to $2
Partnership should move this $4+
All this volume and movement under $1 is major accumulation setting up for big moves.
JMHO
Need high volume to continue the move, so far from February and March $.28-$.70 has been 144M volume and that needs to continue to $1 that way we know shares are in strong hands and they will keep PPS over $1 then
we may never see under $1 again.
Then once we cross $1 we let earnings, AVID , drug licensing and partnerships take over
Pieces of the puzzle are coming together nicely and looks like some are crunching numbers and realizing they better show 5%+ now before the puzzle is finished and can sell for an astronomical price.
The first step in determining how to value the respective contributions of pharmaceutical companies and biotechnology companies is to estimate the size of the whole "pie" to be divided by the partners—namely, the revenues that will be generated by sales of the drug throughout its lifetime.
http://www.nature.com/bioent/2003/030101/full/nbt0700_719.html
Is it possible that they want to strengthen their position in deal making and now they have more validation from the likes of MSKCC and UT?
By valuing and structuring their deals appropriately, biotechnology companies can earn higher returns, maintain greater control of intellectual property, and strengthen their partnerships with pharmaceutical companies.
Biotechnology companies not only need intellectual property (IP) portfolios that demonstrate technological know-how and/or product superiority over competitors, they also require innovative business development skills. In an environment where accelerating technological life cycles can erode competitive advantages in less than half a year, a thoughtful and methodical approach for negotiating deals is becoming more important than ever.
Many biotechnology firms cannot take advantage of this high demand for their products, however, because they do not have the business experience necessary to structure the best deals. They usually earn less in royalties than their contribution warrants and give away too much in terms of IP—a situation that hurts both them and their pharmaceutical partners over the long term.
To negotiate optimal deals with development partners, biotechnology companies must focus on the two critical areas of fairly valuing the contributions of each partner in the deal, and structuring appropriate control of IP rights. Deals that reflect fair valuations and appropriate intellectual control benefit both partners by laying the foundation for lucrative and successful cooperation over the long term.
http://www.nature.com/bioent/2003/030101/full/nbt0700_719.html
But according to your post they are not even trying? So what am I missing here? Wouldn't it have made sense to just get the RS over with?