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Unfortunately there is almost nothing to "admire" in PN. He raised money by two drastic reverse stock splits killing the value of many faithful long time investors. It did not have to come to that if PN would have played his cards right several years ago. It is not rocket science to do reverse stock splits just like massive job cuts (in other circumstances) to raise the stock price that many CEOs do with a stroke of a pen and then get a pat on the back and a hefty bonus for it from their company boards.
Welcome to the harsh reality of corporate capitalism while more than half of this country's population does not even own a single share of anything because they can they hardly make enough to pay their bills.
Welcome to the table. Some of us here have not only been watching BPTH but owned shares for many years....it has been a roller coaster to say the least. It has been mismanaged for years and has recently been through two massive reverse stock splits essentially killing the long term shareholders, in order to survive and prevent de-listing from NASDAQ. To put it in a nutshell buy stock ONLY if your heart is strong. The rest is pretty much like crap shoot....
This link is about another company and not BPTH. BPTH is only mentioned there as recent active trading in terms of shares along with 2-3 other company for yesterday..
The rest is old news.
How can it be possible without issuing more shares? Unless its a buyout and Icahn never does that sort of thing.
Here is the link to CBS Marketwatch who apparently says otherwise:
https://www.marketwatch.com/story/bio-paths-stock-rockets-after-withdrawal-of-stock-offering-2019-04-15?mod=mw_quote_news
I really hope that this is true....this is something I have been praying, and waiting for a long time. The only way out with great results for everyone!!!
HEAR! HEAR!
The expected big dip following the announcement of direct share offering did not materialize, in fact it even went up today so far...this is something of a very good sign that something big is in the works that very few know about......
I agree Mockba. This surge is too big and it seems to be sustainable at least for now. I keep thinking (and hoping actually) that something even bigger than the recent clinical results is in the works especially since some big time investors and hedge funds are actively involved. I am thinking of the potential purchase of BPTH by some big company either a giant biotech or some majors financial investors that might be currently in a negotiating process.
Let's keep our fingers crossed!
Dino, I am afraid you are misreading the information on your press release link provided. Signal Transduction and Activator of Transcription-3 (STAT3),and other drug names there that involve number 3 is NOT and does not mean Phase 3. It is just the name of the drug BPTH assigned for research and trials. They are not anywhere close to even finishing Phase 2 in one of their only advanced drug so far, AML.I am a BPTH share holder (unfortunately) for the last 10 years and I know more than I care for about BPTH's ups and downs so far. Unfortunately a lot more ups than downs due to the sheer incompetence of the two founders that are also in the drivers seat on the board.
While I understand the hype and the wishful thinking (been there done that with BPTH) there is absolutely no reason to speculate anything good at this point for two very obvious facts:
1. They have no cash in hand to go past the next six months.
2. They are still a ways to go before FDA will even take a serious look at the results. Even in that case scenario they will then need even more cash in the mega millions.....
I have been with BPTH for 10 years. If some of you are new to the table this particular abstract here is already old news. It is at least a year and a half old..while others abstracts BPTH presented previously are 4-5 years old...so I am not sure what's going on here and whether it will last as far as share price. Speaking of which I have also witnessed spikes like this with BPTH about 6-7 years or so ago while trading on OTTC before it was even on the NASDAQ, only to see it evaporate later on to pennies. I am pleasantly surprised but not excited because I have been burned before badly with this company. So will wait and see....not buying not selling as I used to have tens of thousands of shares to now own a few hundred through stupid reverse splits from incompetent PN, DM & Co.
What the heck is going on? Nothing seems to surprise me anymore with BPTH. In fact I am beginning to get used to WEIRD as being the norm with this company...
Pat, I really hope that's the case. It would be a godsend.....in fact I would even venture to hope if it's not too much wishful thinking that they will gradually buy enough to own most of BPTH and get private financing while sidelining PN and DM if not the whole existing BOD.
SJSTOCK Good news. Let's hope they stay and take on and over the BOD!
SJSTOCK I have been praying for it every day believe me.....the sooner the better.
Thanks SJSTOCK. I clicked on your link and also did additional research myself. It is great that someone with that kind of reputation on Wall Street is a major owner of BPTH shares. It looks like he is focusing a lot on small & mid cap drug and biotech companies according to a live interview he gave on NBC business channel. Let's hope that gradually he will have some sway on the BOD. The sooner the better.
Pardon my ignorance but who is Steven Boyd that owns %15 of BPTH?
Who is he?
They are using certain people and PR firms to recruit new investors to at least temporarily prop up the share price - it has been done before with this stock. I would not be surprise if some of the BOD members bought some. Then down we go again, to the sharks (I meant shorts)feeding frenzy.
To sum up a messy combination: a scientifically and medically excellent company with a most incompetent board possible.
Yes indeed to quote blairsoldman "for some of us" share holders of many years "anytime now" when one talks about BPTH means the next day or most likely sometime into the future whenever it may or may not be.
I don't mean to sound discouraging but I have been through so many disappointments with this company primarily with its incompetent board.
It is weird indeed but again, nothing is normal with BPTH...it hasn't been for many years.....
You just made my day....I had a good laugh. Enjoyed your sense of humor. That's all we can do at this point with this incompetent BOD.
By the end of 2019 there will be another very likely reverse split since the shorts will AGAIN kill the share value, then....the end of BPTH. There is simply not enough time for the clinical trials to show any credible substantial and positive results in the next few months.
Sorry Mt Bobster it's because I omitted a second "H" in biopathholdings in Peter Nielsen's email.
Please try again.
Thanks,
I strongly encourage everyone and anybody you know to email Peter Nielsen and Doug Morris at pnielsen@biopatholdings.com and dmorris@biopathholdings.com about stopping the reverse split and instead aggressively search for a merger or buyout even if it takes hiring a public relations firm to assist with the process.
Lots of merging and buying on the oncology front these days with massive uptrend on share prices....I keep hoping in the miracle (that increasingly looks more like a mirage) that such thing may be happening with BPTH before too late.
But, alas PN and DM are waisting time and energy on share dilution deals with no-good institutional buyers and useless reverse splits.
By the time the shorts are done with this stock there is nothing left to do with it. A year ago when I asked PN and DM to go back to trading on OTTC and not do any reverse splits DM said that they need to stay on NASDAQ because that's how they can get attention from major institutional investors.
Well, attention they got.....but from major shorts instead.
WHAT A SELL OFF TODAY OVER 26%!!!
THE SHORTS ARE HARD AT WORK BEFORE THE INFAMOUS REVERSE STOCK SPLIT.
WHY NOT PROFIT WHEN YOU CAN BEFORE ALL GOES TO THE BOTTOMLESS PIT? CAN'T BLAME THEM.CAN'T SAY I AM SURPRISED EITHER.
What a travesty.....more of the same. I actually don'y even try to finish reading the conference call transcripts anymore.
As for this (another) ill conceived reverse stock split the only thing that makes any sense is to shrink the number of shares to a handful so the 3-4 people on the board can then make a move for a stock buyout and go private. Otherwise the only explanation left is pure insanity and utter incompetence.
Yesterday I sent an email to PN and DM that ended with the word SHAME.
The poster presentation is more water under the bridge....one more presentation leading nowhere except to buy time for more share dilution and reverse splits. What a joke....unfortunately for all of us it's not funny.
Has it occurred to anyone the possibility of what's going on here?
After this next giant reverse split the vast majority of investors including institutional investors will have only a handful of shares making it an ideal target for another drug company buyout or even more probable a private purchase by the board members.
There is no other reason left to consider.BPTH will still need massive amounts of cash that no major investor wants to even think about.
Besides staying on NASDAQ has defeated its purpose because the only reason for that trumpeted by the board was to attract major investors. With that scenario now completely out of the picture the only plausible explanation left is to go private.
If a "run" is coming and that is a BIG IF it would be mostly on speculation and wishful thinking and/or a few newcomers to the table - therefore a short-lived one.
The truth of the matter is that BPTH has no capital to continue its research even if it proves to be promising. Besides it already chased away most of its loyal investors in the last couple of years due to many delays on clinical trials and sheer overall mismanagement and incompetence at the board level. Even in the rosiest case scenario of good results of the Phase Two massive capital will be needed. At this point no credible institutional investors will pay any serious attention to BPTH. Once you lose credibility it takes a long time, if ever, to regain it.
As I said many times here and directly to PN and DM at this point late in the game the only real chance for BPTH to make it is a partnership with a major drug company or a major company buyout.
With BPTH major selling has NOT been over for years....
Soon we will AGAIN have to contend with NASDAQ delisting warning!!!
Good luck with your wishful thinking.....been there done that with BPTH! Over the many years I have held this stock I had to try really really hard to be creative with finding optimistic reasons for why the shares go down continuously because of a dismal work and very poor decisions by PN. DM and Co. I eventually tired of it and ran out of reasons anymore.
Slashing his salary? But PN is working very very hard.....at running BPTH into the ground!
1.5 Million is like giving you another week on the life support so you can put your affairs in order and say goodbye to your loved ones.
I would not be surprise to see PN, DM, and company come up with another genial 10-1 reverse split by the middle of next year (at the latest). After all it would make it very simple...evreyone will have between 10-100 shares each and keep the math very simple and easy to understand.
Well my predictions in writing by email to DM last spring is about to happen:
NASDAQ DE-LISTED TERRITORY....we are seeing the FINISH(ED) LINE approaching fast!
As much as I enjoy cheering each other up so we don't get depressed BPTH is only viable at this point if it enters a serious partnership
or is bought by a bigger biotech.Full stop. It will run out of money in less than a year and I don't see any serious buyers next time it sells more shares. Remember what happened last time....and it could get worse.
The rest is talk, speculation and wishful thinking. I may sound pessimistic but unfortunately it's a reality check.
Agreed. I would even go a step further and say what I have been saying for the past year to PN and DM: find a big biotech for a buyout. At this stage it would not be unreasonable for BPTH to go for $50-$60 a share.That would be 5-6 billion dollars - a small purchase price for a big biotech. A fraction of the money they make in one year. It will solve everyone's problems - short term and long term.
We have been here before.....the sharks... pardon me I meant shorts will be back for another feeding frenzy tomorrow and the next few days....after PN and DM made some money today.
At this point I really hope that BPTH gets off the NASDAQ so at least can stay away from the big boys of shorting. It will also force BPTH board to actively and seriously seek a partnership(s) or even a buyout. Or at least hire some firm to do it for them since they are either inept or unwilling to do so.
There is no other bright future for this company as it will soon need tons of cash to continue (uncertain) clinical trials.