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It is very exciting, but I have this one in my 9 year old step-daughter's account, so I am excited for her. She doesn't have a lot of shares, so I plan on just holding onto it for another year or 2. It could be a $20 to $30 stock. Normally, a move like today would scream sell, but the fundamentals will move the share price much higher.
Ok cool. No problem. You and CJ bring so many great picks to the board!
Thanks, and you got it. Yes, the bio/ pharmas are risky, but I was confident with this one. I had posted about it from time to time over the last 6 months. It was just a matter of waiting since the FDA was backlogged. Low float and great fundamentals, so you can trade it on it's way to $25 within 2 years.
Check out the triple bottom on HDY. Could have a similar run as IPCI. This is a low float oil stock drilling a HUGE oil prospect in March next year. If it holds the triple bottom, could be a great entry price. Could see $20 if they hit oil.
Yes, but that may be 2 years away. Let's target $10 in the next 3 months, and then we'll take it from there
Ok, perfect place to start the day tomorrow
It would be nice to see it open around the $5.15 to $5.23 level so there is no gap since $5.23 was the high today. We could see $6.50 tomorrow. Then consolidate in the $5 to $6 range for a while before heading higher.
IPCI at $5.10 now, up 170%. HOD was $5.23.
IPCI up 138%
AMRN up 14%. IPCI up 94%. IPCI at $3.67 and has $9 price target now after FDA approval.
Nice! Patience sometimes pays!
This is just the beginning for IPCI. This will start the uptrend to $15 over the next 18 months.
Definitely, it shows that DD and patience can pay off in this era of daytraders.
Thanks! Yes, it took longer than expected for the FDA approval, but this has $10 to $20 written all over it within 12 to 18 months IMO. Low float and more FDA approvals expected next year.
Congrats to all! It's going to be a fun ride to $20 over the next 18 months.
FDA approval! Huge IPCI news. Up over 50% in after hours...
Intellipharmaceutics / Par to Make Immediate Commercial Launch of 15 and 30 mg Generic Focalin XR(R)
GlobeNewswire Intellipharmaceutics International Inc.
51 minutes ago
-- FDA Issues Final Approval of 15 mg, With 180 Days of Exclusivity, and 30 mg; and
-- Tentative Approvals for the Company's 5, 10, 20 and 40 mg Strengths
TORONTO, Nov. 18, 2013 (GLOBE NEWSWIRE) -- Intellipharmaceutics International Inc. (IPCI) (TSX:I) ("Intellipharmaceutics" or the "Company") a pharmaceutical company specializing in the research, development and manufacture of novel and generic controlled-release and targeted-release oral solid dosage drugs today announced that the U.S. Food and Drug Administration ("FDA") has granted final approval of the Company's dexmethylphenidate hydrochloride extended-release capsules for the 15 and 30 mg strengths. Commercial sale of these strengths will be launched immediately by the Company's commercialization partner in the United States Par Pharmaceutical, Inc. ("Par").
As the first-filer for the drug product in the 15 mg strength, the Company will have 180 days of exclusivity of generic sales from the date of launch in the United States by its partner, Par.
The Company's 5, 10, 20 and 40 mg strengths were also tentatively FDA approved, subject to the right of another party or parties to 180 days of generic exclusivity from the date of first launch by such parties. Par intends to launch these strengths immediately upon the expiry of those exclusivity periods.
Dr. Isa Odidi, the CEO and a co-founder of Intellipharmaceutics, stated, "FDA approval of our application for a generic version of Focalin XR(R) is a major milestone for the Company in several respects. We believe that the approval represents a strong validation of our core drug development competence and our controlled-release delivery technologies. At the same time, we have demonstrated that we can partner with an established and well-regarded pharmaceutical company, in this case Par Pharmaceutical, to see a product through to commercialization in the United States. Finally, this generic product will generate our first revenues from commercial sales of a drug product in the United States and provide an enhanced level of financial flexibility to the Company."
Focalin XR(R), a drug used in the treatment of attention deficit hyperactivity disorder, is marketed by Novartis Pharmaceuticals Corporation. According to Source Healthcare Analytics, sales for the 12 months ended October 2013 of Focalin XR(R) 15 and 30 mg, respectively, in the U.S. were approximately $136 million and $69 million (TRx MBS Dollars, which represents projected new and refilled prescriptions representing a standardized dollar metric based on manufacturer's published catalog or list prices to wholesalers, and does not represent actual transaction prices and does not include prompt pay or other discounts, rebates or reductions in price). The remaining 5, 10, 20, 25, 35 and 40 mg strengths represent sales of approximately $478 million (TRx MBS Dollars).
About Intellipharmaceutics
Intellipharmaceutics International Inc. is a pharmaceutical company specializing in the research, development and manufacture of novel and generic controlled-release and targeted-release oral solid dosage drugs. The Company's patented Hypermatrix(TM) technology is a multidimensional controlled-release drug delivery platform that can be applied to the efficient development of a wide range of existing and new pharmaceuticals. Based on this technology platform, Intellipharmaceutics has developed several drug delivery systems and a pipeline of product candidates in various stages of development, including Abbreviated New Drug Applications ("ANDAs") filed with the FDA in therapeutic areas that include neurology, cardiovascular, gastrointestinal tract, diabetes and pain.
Intellipharmaceutics also has New Drug Application 505(b)(2) product candidates in its development pipeline. These include Rexista(TM) oxycodone, an abuse-deterrent oxycodone, based on its proprietary novel Point Of Divergence Drug Delivery System ("nPODDDS(TM)") and a pregabalin extended-release ("Regabatin(TM) XR").
Certain statements in this document constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and/or "forward-looking information" under the Securities Act (Ontario). These statements include, without limitation, statements expressed or implied regarding our plans, goals and milestones, status of developments or expenditures relating to our business, plans to fund our current activities, statements concerning our partnering activities, health regulatory submissions, strategy, future operations, future financial position, future sales, revenues and profitability, projected costs, and market penetration. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," "intends," "could," or the negative of such terms or other comparable terminology. We made a number of assumptions in the preparation of our forward-looking statements. You should not place undue reliance on our forward-looking statements, which are subject to a multitude of known and unknown risks and uncertainties that could cause actual results, future circumstances or events to differ materially from those stated in or implied by the forward-looking statements. Risks, uncertainties and other factors that could affect our actual results include, but are not limited to, the effects of general economic conditions, securing and maintaining corporate alliances, our estimates regarding our capital requirements, and the effect of capital market conditions and other factors, including the current status of our product development programs, on capital availability, the potential dilutive effects of any future financing, our programs regarding research, development and commercialization of our product candidates, the timing of such programs, the timing, costs and uncertainties regarding obtaining regulatory approvals to market our product candidates, and the timing and amount of any available investment tax credits, the actual or perceived benefits to users of our drug delivery technologies and product candidates as compared to others, our ability to maintain and establish intellectual property rights in our drug delivery technologies and product candidates, the actual size of the potential markets for any of our product candidates compared to our market estimates, our selection and licensing of product candidates, our ability to attract distributors and collaborators with the ability to fund patent litigation and with acceptable development, regulatory and commercialization expertise and the benefits to be derived from such collaborative efforts, sources of revenues and anticipated revenues, including contributions from distributors and collaborators, product sales, license agreements and other collaborative efforts for the development and commercialization of product candidates, our ability to create an effective direct sales and marketing infrastructure for products we elect to market and sell directly, the rate and degree of market acceptance of our products, the difficulty of predicting the impact of competitive products and pricing, the timing and success of product launches; the timing and amount of insurance reimbursement for our products, changes in the laws and regulations, including Medicare and Medicaid, affecting among other things, pricing and reimbursement of pharmaceutical products, the success and pricing of other competing therapies that may become available, our ability to retain and hire qualified employees, the availability and pricing of third party sourced products and materials, difficulties or delays in manufacturing, the manufacturing capacity of third-party manufacturers that we may use for our products, and the successful compliance with FDA and other governmental regulations applicable to the Company and its third party manufacturers' facilities, products and/or businesses. Additional risks and uncertainties relating to the Company and our business can be found in the "Risk Factors" section of our latest annual information form, our latest Form 20-F, as amended, and our latest Form F-3 (including any documents forming a part thereof or incorporated by reference therein), as well as in our reports, public disclosure documents and other filings with the securities commissions and other regulatory bodies in Canada and the U.S. The forward-looking statements are made as of the date hereof, and we disclaim any intention and have no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Shameze Rampertab
Vice President Finance & CFO
416-798-3001 x106
investors@intellipharmaceutics.com
HUGE FDA approval news on IPCI. Up 55% in after hours. This is the news I've been waiting for ....
Intellipharmaceutics / Par to Make Immediate Commercial Launch of 15 and 30 mg Generic Focalin XR(R)
GlobeNewswire Intellipharmaceutics International Inc.
51 minutes ago
-- FDA Issues Final Approval of 15 mg, With 180 Days of Exclusivity, and 30 mg; and
-- Tentative Approvals for the Company's 5, 10, 20 and 40 mg Strengths
TORONTO, Nov. 18, 2013 (GLOBE NEWSWIRE) -- Intellipharmaceutics International Inc. (IPCI) (TSX:I) ("Intellipharmaceutics" or the "Company") a pharmaceutical company specializing in the research, development and manufacture of novel and generic controlled-release and targeted-release oral solid dosage drugs today announced that the U.S. Food and Drug Administration ("FDA") has granted final approval of the Company's dexmethylphenidate hydrochloride extended-release capsules for the 15 and 30 mg strengths. Commercial sale of these strengths will be launched immediately by the Company's commercialization partner in the United States Par Pharmaceutical, Inc. ("Par").
As the first-filer for the drug product in the 15 mg strength, the Company will have 180 days of exclusivity of generic sales from the date of launch in the United States by its partner, Par.
The Company's 5, 10, 20 and 40 mg strengths were also tentatively FDA approved, subject to the right of another party or parties to 180 days of generic exclusivity from the date of first launch by such parties. Par intends to launch these strengths immediately upon the expiry of those exclusivity periods.
Dr. Isa Odidi, the CEO and a co-founder of Intellipharmaceutics, stated, "FDA approval of our application for a generic version of Focalin XR(R) is a major milestone for the Company in several respects. We believe that the approval represents a strong validation of our core drug development competence and our controlled-release delivery technologies. At the same time, we have demonstrated that we can partner with an established and well-regarded pharmaceutical company, in this case Par Pharmaceutical, to see a product through to commercialization in the United States. Finally, this generic product will generate our first revenues from commercial sales of a drug product in the United States and provide an enhanced level of financial flexibility to the Company."
Focalin XR(R), a drug used in the treatment of attention deficit hyperactivity disorder, is marketed by Novartis Pharmaceuticals Corporation. According to Source Healthcare Analytics, sales for the 12 months ended October 2013 of Focalin XR(R) 15 and 30 mg, respectively, in the U.S. were approximately $136 million and $69 million (TRx MBS Dollars, which represents projected new and refilled prescriptions representing a standardized dollar metric based on manufacturer's published catalog or list prices to wholesalers, and does not represent actual transaction prices and does not include prompt pay or other discounts, rebates or reductions in price). The remaining 5, 10, 20, 25, 35 and 40 mg strengths represent sales of approximately $478 million (TRx MBS Dollars).
About Intellipharmaceutics
Intellipharmaceutics International Inc. is a pharmaceutical company specializing in the research, development and manufacture of novel and generic controlled-release and targeted-release oral solid dosage drugs. The Company's patented Hypermatrix(TM) technology is a multidimensional controlled-release drug delivery platform that can be applied to the efficient development of a wide range of existing and new pharmaceuticals. Based on this technology platform, Intellipharmaceutics has developed several drug delivery systems and a pipeline of product candidates in various stages of development, including Abbreviated New Drug Applications ("ANDAs") filed with the FDA in therapeutic areas that include neurology, cardiovascular, gastrointestinal tract, diabetes and pain.
Intellipharmaceutics also has New Drug Application 505(b)(2) product candidates in its development pipeline. These include Rexista(TM) oxycodone, an abuse-deterrent oxycodone, based on its proprietary novel Point Of Divergence Drug Delivery System ("nPODDDS(TM)") and a pregabalin extended-release ("Regabatin(TM) XR").
Certain statements in this document constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and/or "forward-looking information" under the Securities Act (Ontario). These statements include, without limitation, statements expressed or implied regarding our plans, goals and milestones, status of developments or expenditures relating to our business, plans to fund our current activities, statements concerning our partnering activities, health regulatory submissions, strategy, future operations, future financial position, future sales, revenues and profitability, projected costs, and market penetration. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," "intends," "could," or the negative of such terms or other comparable terminology. We made a number of assumptions in the preparation of our forward-looking statements. You should not place undue reliance on our forward-looking statements, which are subject to a multitude of known and unknown risks and uncertainties that could cause actual results, future circumstances or events to differ materially from those stated in or implied by the forward-looking statements. Risks, uncertainties and other factors that could affect our actual results include, but are not limited to, the effects of general economic conditions, securing and maintaining corporate alliances, our estimates regarding our capital requirements, and the effect of capital market conditions and other factors, including the current status of our product development programs, on capital availability, the potential dilutive effects of any future financing, our programs regarding research, development and commercialization of our product candidates, the timing of such programs, the timing, costs and uncertainties regarding obtaining regulatory approvals to market our product candidates, and the timing and amount of any available investment tax credits, the actual or perceived benefits to users of our drug delivery technologies and product candidates as compared to others, our ability to maintain and establish intellectual property rights in our drug delivery technologies and product candidates, the actual size of the potential markets for any of our product candidates compared to our market estimates, our selection and licensing of product candidates, our ability to attract distributors and collaborators with the ability to fund patent litigation and with acceptable development, regulatory and commercialization expertise and the benefits to be derived from such collaborative efforts, sources of revenues and anticipated revenues, including contributions from distributors and collaborators, product sales, license agreements and other collaborative efforts for the development and commercialization of product candidates, our ability to create an effective direct sales and marketing infrastructure for products we elect to market and sell directly, the rate and degree of market acceptance of our products, the difficulty of predicting the impact of competitive products and pricing, the timing and success of product launches; the timing and amount of insurance reimbursement for our products, changes in the laws and regulations, including Medicare and Medicaid, affecting among other things, pricing and reimbursement of pharmaceutical products, the success and pricing of other competing therapies that may become available, our ability to retain and hire qualified employees, the availability and pricing of third party sourced products and materials, difficulties or delays in manufacturing, the manufacturing capacity of third-party manufacturers that we may use for our products, and the successful compliance with FDA and other governmental regulations applicable to the Company and its third party manufacturers' facilities, products and/or businesses. Additional risks and uncertainties relating to the Company and our business can be found in the "Risk Factors" section of our latest annual information form, our latest Form 20-F, as amended, and our latest Form F-3 (including any documents forming a part thereof or incorporated by reference therein), as well as in our reports, public disclosure documents and other filings with the securities commissions and other regulatory bodies in Canada and the U.S. The forward-looking statements are made as of the date hereof, and we disclaim any intention and have no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Shameze Rampertab
Vice President Finance & CFO
416-798-3001 x106
investors@intellipharmaceutics.com
HUGE FDA approval news on IPCI. Up 55% in after hours. This is the news I've been waiting for (link back)....
Intellipharmaceutics / Par to Make Immediate Commercial Launch of 15 and 30 mg Generic Focalin XR(R)
GlobeNewswire Intellipharmaceutics International Inc.
51 minutes ago
-- FDA Issues Final Approval of 15 mg, With 180 Days of Exclusivity, and 30 mg; and
-- Tentative Approvals for the Company's 5, 10, 20 and 40 mg Strengths
TORONTO, Nov. 18, 2013 (GLOBE NEWSWIRE) -- Intellipharmaceutics International Inc. (IPCI) (TSX:I) ("Intellipharmaceutics" or the "Company") a pharmaceutical company specializing in the research, development and manufacture of novel and generic controlled-release and targeted-release oral solid dosage drugs today announced that the U.S. Food and Drug Administration ("FDA") has granted final approval of the Company's dexmethylphenidate hydrochloride extended-release capsules for the 15 and 30 mg strengths. Commercial sale of these strengths will be launched immediately by the Company's commercialization partner in the United States Par Pharmaceutical, Inc. ("Par").
As the first-filer for the drug product in the 15 mg strength, the Company will have 180 days of exclusivity of generic sales from the date of launch in the United States by its partner, Par.
The Company's 5, 10, 20 and 40 mg strengths were also tentatively FDA approved, subject to the right of another party or parties to 180 days of generic exclusivity from the date of first launch by such parties. Par intends to launch these strengths immediately upon the expiry of those exclusivity periods.
Dr. Isa Odidi, the CEO and a co-founder of Intellipharmaceutics, stated, "FDA approval of our application for a generic version of Focalin XR(R) is a major milestone for the Company in several respects. We believe that the approval represents a strong validation of our core drug development competence and our controlled-release delivery technologies. At the same time, we have demonstrated that we can partner with an established and well-regarded pharmaceutical company, in this case Par Pharmaceutical, to see a product through to commercialization in the United States. Finally, this generic product will generate our first revenues from commercial sales of a drug product in the United States and provide an enhanced level of financial flexibility to the Company."
Focalin XR(R), a drug used in the treatment of attention deficit hyperactivity disorder, is marketed by Novartis Pharmaceuticals Corporation. According to Source Healthcare Analytics, sales for the 12 months ended October 2013 of Focalin XR(R) 15 and 30 mg, respectively, in the U.S. were approximately $136 million and $69 million (TRx MBS Dollars, which represents projected new and refilled prescriptions representing a standardized dollar metric based on manufacturer's published catalog or list prices to wholesalers, and does not represent actual transaction prices and does not include prompt pay or other discounts, rebates or reductions in price). The remaining 5, 10, 20, 25, 35 and 40 mg strengths represent sales of approximately $478 million (TRx MBS Dollars).
About Intellipharmaceutics
Intellipharmaceutics International Inc. is a pharmaceutical company specializing in the research, development and manufacture of novel and generic controlled-release and targeted-release oral solid dosage drugs. The Company's patented Hypermatrix(TM) technology is a multidimensional controlled-release drug delivery platform that can be applied to the efficient development of a wide range of existing and new pharmaceuticals. Based on this technology platform, Intellipharmaceutics has developed several drug delivery systems and a pipeline of product candidates in various stages of development, including Abbreviated New Drug Applications ("ANDAs") filed with the FDA in therapeutic areas that include neurology, cardiovascular, gastrointestinal tract, diabetes and pain.
Intellipharmaceutics also has New Drug Application 505(b)(2) product candidates in its development pipeline. These include Rexista(TM) oxycodone, an abuse-deterrent oxycodone, based on its proprietary novel Point Of Divergence Drug Delivery System ("nPODDDS(TM)") and a pregabalin extended-release ("Regabatin(TM) XR").
Certain statements in this document constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and/or "forward-looking information" under the Securities Act (Ontario). These statements include, without limitation, statements expressed or implied regarding our plans, goals and milestones, status of developments or expenditures relating to our business, plans to fund our current activities, statements concerning our partnering activities, health regulatory submissions, strategy, future operations, future financial position, future sales, revenues and profitability, projected costs, and market penetration. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," "intends," "could," or the negative of such terms or other comparable terminology. We made a number of assumptions in the preparation of our forward-looking statements. You should not place undue reliance on our forward-looking statements, which are subject to a multitude of known and unknown risks and uncertainties that could cause actual results, future circumstances or events to differ materially from those stated in or implied by the forward-looking statements. Risks, uncertainties and other factors that could affect our actual results include, but are not limited to, the effects of general economic conditions, securing and maintaining corporate alliances, our estimates regarding our capital requirements, and the effect of capital market conditions and other factors, including the current status of our product development programs, on capital availability, the potential dilutive effects of any future financing, our programs regarding research, development and commercialization of our product candidates, the timing of such programs, the timing, costs and uncertainties regarding obtaining regulatory approvals to market our product candidates, and the timing and amount of any available investment tax credits, the actual or perceived benefits to users of our drug delivery technologies and product candidates as compared to others, our ability to maintain and establish intellectual property rights in our drug delivery technologies and product candidates, the actual size of the potential markets for any of our product candidates compared to our market estimates, our selection and licensing of product candidates, our ability to attract distributors and collaborators with the ability to fund patent litigation and with acceptable development, regulatory and commercialization expertise and the benefits to be derived from such collaborative efforts, sources of revenues and anticipated revenues, including contributions from distributors and collaborators, product sales, license agreements and other collaborative efforts for the development and commercialization of product candidates, our ability to create an effective direct sales and marketing infrastructure for products we elect to market and sell directly, the rate and degree of market acceptance of our products, the difficulty of predicting the impact of competitive products and pricing, the timing and success of product launches; the timing and amount of insurance reimbursement for our products, changes in the laws and regulations, including Medicare and Medicaid, affecting among other things, pricing and reimbursement of pharmaceutical products, the success and pricing of other competing therapies that may become available, our ability to retain and hire qualified employees, the availability and pricing of third party sourced products and materials, difficulties or delays in manufacturing, the manufacturing capacity of third-party manufacturers that we may use for our products, and the successful compliance with FDA and other governmental regulations applicable to the Company and its third party manufacturers' facilities, products and/or businesses. Additional risks and uncertainties relating to the Company and our business can be found in the "Risk Factors" section of our latest annual information form, our latest Form 20-F, as amended, and our latest Form F-3 (including any documents forming a part thereof or incorporated by reference therein), as well as in our reports, public disclosure documents and other filings with the securities commissions and other regulatory bodies in Canada and the U.S. The forward-looking statements are made as of the date hereof, and we disclaim any intention and have no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Shameze Rampertab
Vice President Finance & CFO
416-798-3001 x106
investors@intellipharmaceutics.com
This could be a game-changer for small-cap stocks
Published: Saturday, 16 Nov 2013 | 9:00 AM ET
By: Jeff Cox
A significant change on its way for stock trading could bring nickels and dimes from heaven for smaller companies.
After 12 years of trading stocks in penny increments, a proposal is afoot to change the system so that firms with market capitalizations less than $750 million could be listed in nickel and perhaps even dime or quarter increments.
Advocates see the proposal—pushed both by major exchanges and in a recent letter Citigroup sent to regulators—as increasing liquidity in the lesser-traded names. Since the market switched to decimal trading in 2001—away from fractions—market makers have stayed away from the smaller names because the trading spreads between the buy and sell prices were too small.
But with larger increments would come larger commissions, which in turn would drive market makers toward those companies and bring greater liquidity to the market, supporters say.
"Seeing volume return to the New York Stock Exchange would be very positive," said Peter Costa, president of boutique trading firm Empire Executions and an NYSE governor. "We want to do what's in the best interest of our business model, but in essence our best interests are also pretty much aligned with those of institutional investors."
Under the present system of stocks listed in penny increments, high-frequency traders have flourished—and have been blamed for some of the market's woes.
The HFTs use computerized algorithms to detect mispriced stocks and use speed to execute trades in fractions of a second. Their trading risk is minimized by the small increments between prices, something Costa said would not be the case with a nickel system.
Supporters concede that part of the push to go to higher ticks is a recognition that the move to decimalization was not a complete success.
"There are very few high-frequency trading shops that are going to be in existence," he said. "Their risk is not going to be a penny or less than a penny. It's going to be four cents-plus. They haven't developed a model where they can afford that risk."
They worry of the risks associated with trading smaller amounts of stocks and doubt supporters' claims that increased trading in smaller stocks would push profits back to those companies that they could reinvest in growth.
David vun Kannon at market blog Rational Exuberance painted a scenario in which smaller companies would be cajoled into agreeing to nickel ticks with the incentive of a bigger price on their initial public offerings. That price, he said, would be passed onto retail investors.
I can imagine that if the wider tick size rules go into effect, that the conversation will go like this:
Banker: If you agree to have your stock traded in nickels, we'll price your IPO $50 million higher.
Management: I lose nothing and get $50 million, sounds like a good deal.
Well, the bankers are not a charity. That $50 million is going to come from somewhere. Enter the retail investor!
Invoking job creation at small companies is just putting lipstick on the pig. Wider tick sizes enriches the market maker at the cost of somebody else. The bankers and markets are bribing the managements to go along.
To be sure, proponents believe that the changes will need to be approached with caution.
Citi's letter to the Securities and Exchange Commission advocated a "pilot program" with a set time frame and evaluation period at the end.
"In some cases, increasing the minimum quoting increment from a penny to a nickel makes sense; in other cases, increasing the increment to a dime (depending on average daily volume traded and stock price) or even a quarter (particularly for very high priced securities) may be warranted," Daniel Keegan, managing director and head of equities for the Americas at Citi, wrote to the regulators.
"One of the outcomes of a potential pilot programs should be to create objective standards for determining the appropriate quoting increment for particular types of securities," he added.
Costa said it's likely that even if the changes do meet their objectives, they likely never will be extended to large-caps. Keegan said trading in the big names "seems to be functioning well."
Peter Andersen, chief investment officer at Congress Asset Management in Boston, said he supports going to larger ticks but would go along with the program only as a pilot.
"It's hard to strip out how much of this might be motivated by company policy and revenue enhancement vs. the true altruistic effort of trying to promote liquidity and make us all much happier people and trading place," he said. "The only way to prove this is to actually do it."
He expects smaller companies to get more trading traffic while those involved in trading have an easier time of moving in and out of positions, ultimately providing benefit across the board.
"We think this is going to be better for everybody," Andersen said. "I wouldn't think this if it was not proposed as a pilot program."
—By CNBC's Jeff Cox. Follow him on Twitter @JeffCoxCNBCcom.
Patience pays off. I see your CPRX, AMRN, IPCI and SNTA up nicely today.
Definitely massive numbers, lol.
Oil Protests Cost $6bn
Posted on 14 November 2013.
Libya’s Economy Minister, Mustafa Abu Fanas, has said the country has lost $6 billion due to the protests at ports and oil fields.
“If these blockages continue it will have a big negative impact … There are now very intense efforts so this problem will perhaps be solved,” he told reporters.
He said the government would be able to pay public salaries and other expenditures by drawing in on other sources. He did not elaborate but Libya has built up reserves off cash from times of high oil prices.
(Source: Reuters)
Thanks. Wish I would have bought it exactly 1 year ago when it dipped to $1.84.
LOL, yes that was it! My step-daughter said she wants the 3D Pen and my wife wants the storm-proof umbrella.
That's so funny... my wife just told me about the 3Doodler Pen last night. It looks really cool, except that the tip of the pen gets as hot as 270 degrees C! Definitely not for children.
AMRN up 17% pre-market after earnings report last night.
Thanks!
Textbook inverted head and shoulders pattern!
LOL, stay the course
Yeah, looking at the charts, I think he should hold onto them all. Most of them should bounce this week.
Yeah, it is fascinating stuff. Definitely put a few on your watch list for potential future trades. ONVO is really interesting. Maybe in 10 years, they will be able to print organs for transplants from the person's own genetic material, so you don't have to worry about the body rejecting it.
3D printing is a huge growth area. A couple of the big names are DDD and SSYS. Check out ONVO for a 3D bioprinting stock. It was $2 a year ago and now it's $7.50.
The latest is now 4D printing, with the 4th dimension being time, so once it's printed it can actually change with time. Just read an article on it this weekend. So maybe 4D printed pipes that can actually self-heal cracks that would occur in the future.
http://finance.yahoo.com/news/organovo-holdings-inc-prices-40-131800082.html
Organovo Holdings, Inc. Prices $40.5 Million Public Offering of Common Stock
SAN DIEGO, Aug. 2, 2013 /PRNewswire/ -- Organovo Holdings, Inc. (NYSE MKT: ONVO) today announced the sale of 9,000,000 shares of its common stock in an underwritten public offering at a price to the public of $4.50 per share. The net offering proceeds to Organovo from the sale of the shares are expected to be approximately $37.7 million, after deducting underwriting discounts and commissions and other estimated offering expenses, but excluding any exercise of the underwriters' over-allotment option.
The Company anticipates using the net proceeds from this offering for general corporate purposes, including research and development, the development and commercialization of its products, general administrative expenses, license or technology acquisitions, and working capital and capital expenditures.
The offering is expected to close on or about August 7, 2013, subject to customary closing conditions. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 1,350,000 shares of common stock on the same terms and conditions, solely to cover over-allotments, if any.
Lazard Capital Markets LLC and Oppenheimer & Co. Inc. are acting as joint book-runners for the offering. JMP Securities LLC and Maxim Securities LLC are each acting as co-managers for the offering.
The shares described above will be issued pursuant to a prospectus supplement filed as part of a shelf registration statement on Form S-3 previously filed with and declared effective by the Securities and Exchange Commission ("SEC"). The offering may be made only by means of a prospectus supplement and the accompanying prospectus, copies of which may be obtained by sending a request to: Lazard Capital Markets LLC, at 30 Rockefeller Plaza, New York, NY 10020 or via telephone at (800) 542-0970, or Oppenheimer & Co. Inc., Attn: Syndicate Department, at 85 Broad Street, 26th Floor, New York, NY, 10004 or via email at equityprospectus@opco.com or via telephone at (212) 667-8563. Organovo intends to file a final prospectus supplement relating to the offering with the SEC, which will be available along with the accompanying prospectus filed with the SEC in connection with the shelf registration, on the SEC's website at www.sec.gov.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Organovo, nor shall there be any sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This press release is being issued pursuant to and in accordance with Rule 134 under the Securities Act of 1933, as amended.
The 2nd qtr wasn't late because they don't even have to file at all, but yeah I guess technically it was later than it could have been filed.
The numbers don't mean anything though, except that the total shares outstanding remains the same.
Mike
Patience!! The reward will be well worth the wait
And now the 3rd quarter financials were just posted!
http://www.otcmarkets.com/financialReportViewer?symbol=AXGC&id=112376