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Craig Dionne was one of the founding fathers of Genspera and #1 cheer leader of Mipsagargin. In his you tube post interviews you can tell he was a zealous supporter of the drug and its power to kill cancer (the cancer grenade). He was ousted from the CEO position in March 2016 for overpromising activity and underperforming results. Since his leaving Genspera ..a name change to Inspyr.. multiple RS wiping out investors money.. worthless CEOs (Chris Lowe and Michael Cain)..a toxic lender in Hedge Fund Sabby.. and a PPS that consistently trades sub pennies!
Why they have completely abandoned mipsagargin for the adenosine drug platform can only be answered from probably Dr Hislop but having followed this train wreck for a while there has been no negative news concerning mipsagargin from any trials that it went thru. It has performed as expected with little or no side effects. It is not a cure all (no cancer drug is) but if the tumor expresses PSMA mipsagargin will attack and thapsigargin will kill the tumor.
Immunotherapy is a hot item in biotechs and NSPX and Hislop must think that RT-AR001 has a more direct path to revenue than mipsagargin. All the effort lately is to get RT-AR001 approval for trials. However, mipsagargin has orphan status until 2034 so mipsagargin’s thapsigargin based drug platform is not going away and will eventually have it’s day!
I really don't think it was a coincidence that Cain resigned at the very same time NSPX gets a 600K loan that 3 months early said they didn't need. Being positive, the next 8-K will come soon announcing a capable CEO then an up date on the IND for RT-AR001. Hislop has a day job at Eiger Biotech and will need help moving the drug platform along. A capable CEO will be a significant step forward.
From 10-Q for period ending 3/31/21
Based on our current expected level of operating expenditures and current cash balance as of the date of this report, we expect to be able to fund our operations into the second quarter of 2022. This period could be shortened if there are any significant increases in spending that were not anticipated or other unforeseen events.
Why they are getting another 600K from Sabby when they stated just three months ago that they were all set until 2nd quarter 2022? Lets think some unforeseen events are on the way.
Scott Ogilvy along with Clair Thomas are independent directors for hire and have been been with the company for awhile. Obviously, Michael Cain (CEO and Director) resigned and was not authorized to sign and SEC report for the company so Ogilvy took his place. It will be interesting going forward who will be next CEO and Director.
Low expectations but maybe something positive is a solid plan for this ticker. There has been a lot of scientific research and chatter concerning adenosine formulations going around from cancer therapies to antiviral platforms and combination drug opportunities. Anything is possible at this time.. it is truly up in the air what is in store for NSPX.
Looks positive to me also.. need more cash because maybe RT-AR001 is moving along faster? and need a real CEO that can take on the challenges of getting it done! Stay tuned!
My guess it that the new CEO is someone who worked with or was an associate of Colin Hislop in the past!
In the 10-Q for first quarter they stipulated that they had enough cash on hand to last until 2nd quarter 2022. Why do they need additional cash now? Also a big hint to where this is headed would be who they hire for new CEO. Interesting 8-K!
Michael Cain no longer CEO. Can't say he did much but served his purpose! Search on for new CEO. Hopefully Hislop will find someone more suited for the position.
FYI.. on a some what related item today iTEOS Therapeutics entered into a agreement with GSK to develop iTeos drug EOS-448. Also on June 4 iTeos updated data on their Adenosine A2A Receptor Antagonist Inupadeneant. Statement below by iTeos relates how confident iTeos is in the science of Adenosine related drug platforms which is also the basis of NSPX's RT-AR-001.
This collaboration validates our science and provides a catalyst for the future of iTeos. The collaboration with GSK will allow our team to continue to develop next generation immunotherapies starting with inupadenant, our highly differentiated clinical-stage A2A adenosine receptor antagonist, and to drive scientific innovation with our expertise in tumor immunology to build our pipeline.”
A press release or news would be welcomed but not expected from nspx management. However, in the filings it was stated that they are working on an IND (Investigative New Drug) application for RT-AR001 and they would update this application in second half of 2021. That would mean any time between July 1 and Dec 31. So unless something unique breaks the frustration of silence may be the norm.
With fingers crossed the promising scenario would be a IND filed and approved by the FDA in 2nd quarter. This would set up progress to clinical trials. The question is will they have the resources to take on trials? Will the approved IND generate investment in the stock (other than Sabby with their debentures)? Nirvana would be an outright sale of patents and drug IP for both RT-AR001and Mipsagargin to a pharma that has the resources to develop the platforms and take them forward. The loans (debentures) they get from Sabby keep the lights on but they would need millions to move forward with clinical trials. Bio is an expensive undertaking.
Yea man.. it's the ever ready bunny of pinkies for sure..it has been kicking around for 18 years trying to make something happen. Time it did something other than be a ATM for Sabby!
In filings the company states it has or will soon have patents for their Adenosine drug platform all around the world. It also owns outright the patent for a thapsigargin based tumor targeting drug Mipsagargin which has orphan drug designation thru 2034. Mipsagargin has completed PH I and II trials with certain success and well tolerated side effects. Also in the filings the company states that it is close to a IND application for novel drug RT-AR001 followed up by approval and possible clinical trials. Also in the filings it was stated that NSPX has incurred 60+ million in losses since 2003 to get to this point in development. This point of development is a market cap of 3.4 million (peanuts), 515 million shares outstanding and a PPS of 3/4 of a penny. Go figure. Let's think that this upcoming IND can put a jolt into what has been a lackluster year for nspx.
It really is unbelievable the silence and lack of contact info from nspx. It's like they have money bags Sabby and need nor care from any other investors. So many questions could be answered. Like why have they totally jettisoned Mipsagargin? The CEO is a figurehead and Hislop has a full time job at Eiger.. why not hire a CMO to handle all the details of moving the patents, portfolio and RT-AR001 forward? Once RT-AR001 gets approval for clinical trials is NSPX going to go it alone or do they license, partner or sell the platform. These type questions will never be answered because nobody home to answer them or do they care. Its a buyer beware situation that with the DD that is out there may have fundamental future value in the drug platforms but realize that NSPX will do nothing or have done nothing to communicate to share holders to validate their investment. The only strategy that makes sense at these prices is hold to see what happens.
The recent filings indicated the timeline which stated work on pre IND for RT-AR001 is on going followed by IND application and a update in second half of 2021. Maybe a FDA approval to start trials later this year? As of now there has been no mention to a change in this timeline. On a different but related point Tarus Therapeutics received the FDA approval to start trials on their Adenosine based drug TT-10 a A2AR antagonist for solid tumors. Adenosine based drugs in Cancer Immunotherapy are getting more attention so this can only be a positive for NSPX.
Once the lower bids stop getting filled there may be some positive action on the way especially since there may be an update on RT-AR001 later this summer. Clinical stage bio is never an easy journey however NSPX has made it harder than it should be.
There is no argument that the NSPX investment is frustration on steroids. The entire company is cloaked in silence and has been for yrs. One of the most puzzling things that is hard to grasp is that Sabby funds own +/- 40 million shares outright and thru the agreement last october Ridgeway may own 65 million shares and has control of the company so why is it to their advantage to pound the PPS into the dirt? Something to think about.
IMO..the best thing about the 10-Q was that was filed on time which does support that NSPX is serious about keeping SEC compliant. I believe you have been following this ticker long enough that you remember when the NSPX was 5 or six reports deficient. The 20 million loss on fair value of derivative liability.. don't know what that entails. Any of the information that would move the needle on the price like progress on IND application with FDA, ANY mention of mipsagargin, any talk or negotiation with anybody concerning partnering or licensing of the drug portfolio was non-existent.
Report after report basically says the same non-important information to be in compliance with the FDA. One dubious point is that since 2003 the accounting loss has risen to 87 million and as of March 31 the Market cap has fallen to 4 million. It would take a current price of .16 to even that out. Most positive info if any will come out in future 8-Ks.
What a week!! With the RSI on the daily at a 27.79 solid in oversold territory and now a dismal 3.8 market cap it may seem the unloading of NSPX is fair game. However, we have seen this spike up in the past. 10-Q filings are due next week so is this ticker setting up for another of its runs up??? Anything is possible but some news on the pending IND would certainly be a help.
Well they have half a billion + out of the 1 billion and have a paltry market cap of 4 million so unless some positive event comes forward you may certainly be correct. As for buying more after another RS, I think some of us long timers have taken enough abuse and would have to rethink that idea!
Yea not a good sign.. last weeks S-1 about Sabby having 41 million shares freed up to trade on the market has really put a damper on any sort of positive price movement. As usual no support from NSPX and price continues to erode. MM's may drive the price into the dirt.
Equally as frustration for many is the complete abandonment of Mipsagargin. For years it was toted as the drug of the future for various cancers and thapsigargin is an elixir with multiple healing attributes. Many, like myself, did the DD and invested in Genspera/Inspyr because of mipsagargin and now are left with cheering for and unknow drug application with very little scientific paper trail hoping that DR. Hislop can come thru with a winner.
If you had 41 million shares to sell wouldn't you what to sell them at more than a penny and a half???
S-1 filed 4/29.. Sabby in conversion has another 41 million sahre to sell on open market. Be optimistic maybe something in works and Sabby seeing $$$ opportunity.
Bouncing off being oversold last couple of weeks. Maybe it will get some legs and move higher and attract some buying interest. Anticipating some info in Q-10 report may keep the .01 floor intact but all in all fairly quiet.
Week can be summed up with one word.. BLAH! Very small trading range and not much volume. Although it did break into subs for a short time .01 has held by the slimmest of margins. Still not even a whisper from NSPX or any little tidbit of information that would spark any buying interest. It's been almost 2 years since Michael Cain took over as CEO and not a word from him.. dose he actually exist?
It's been a disappointing week for this ticker. The spike last week to .0215 was met with an immediate retreat and the sellers took over and drove this back to .01. Let's see if .01 holds going forward. The 500 million o/s makes this a tough hill to climb especially without any defense of the PPS from the company. NSPX has never defended the price erosions and the next scheduled notice is the 1st quarter 10-Q due 5/15. If nothing comes out prior to that there may be nothing to attract any significant buyers.. so we continue to play the wait and see game.
We've seen these spikes and retreats many many times before (too many). With no news or new information it makes you wonder why or who is behind the move. Buyers were there early only to give way to the usual sellers and put a damper on the run. However, lets see if this has legs and additional buyers will show up this week. Very positive that the ticker is holding up and news of an IND is on the horizon. As of now nothing to get too excited about but lets see how it performs going forward.
Some what reassuring that the RT-AR001 drug platform will progress "in conjunction with and oversight from Ridgeway Therapeutics" which puts Dr. Hislop in charge of getting it done. He has experience in negotiating the waters of the FDA and has proven experience in these matters. No one at NSPX has a clue on moving the drug platforms forward. So now its wait and let DR. Hislop do what he does and see what happens.
That 504 million o/s put a wet blanket on this ticker! Not a lot of buyers to be found!
The risk reward scale seems to be tipping toward reward. The ticker has had many chances to tank to subs but even with the 504 million o/s has held up fairly well. The last two filings were slanted positive so Holding or adding to your position may be a wise choice! There are possibilities out there with Nspx we’ll just have to wait and see what happens. The 7 million market cap is crumbs for what the drug platform may be worth!
Mipsagargin seems to be the forgotten drug in the push to get RT-AR001 into clinical trials. However, it may be a significant bargaining chip in the future for a sale or partner. It already has been thru PH II clinical trials with proven results and Orphan drug status until 2034. Remember what is fed to the public is not the same as what is happening behind the curtains.
From 10-K ..
This oncology work is expected to be run in conjunction with and oversight from Ridgeway Therapeutics, Inc. for the selection of an anti-cancer agent.
Remember that Dr. Colin Hislop is President and CEO of Ridgeway Therapeutics and has 65,000,000 reasons to make this drug platform a reality.
THE 8-k that came out 4/01 stated that they are near to the IND (investigative new drug) application with FDA for RT-AR001. The 10-K mentioned that this application will be filed and monitored with collaboration with Ridgeway Therapeutics which means that Colin Hislop is on this progression. He will get this thru and a possible Phase I clinical trial may be in the works this year.
yes.. most good news comes in 8-K not 10-K or 10-Q.. so hold and wait is the play and has been for a while. Volume has been light so it will take some time to eat up the remaining 500 million A/S unless something big happens.
Sort of surprised that the PPS is holding up at 504 million O/S. Although the current 7 million market cap is peanuts for a valid drug.. nspx has not demonstrated that either mipsagargin or RT-AR001 has any commercial value. Things may change quickly but as of now its business as usual with this ticker.
Nothing in 10-K that will generate lots of buying.... moving forward with RT-AR001.. securing worldwide patents .. continue looking for partners and/or investors in company owned IP. 504,000,000 shares outstanding.
This ticker is due for a jolt.. maybe something in 10-K will get it moving? Been very quiet for a while.
This ticker is a test in patience for sure.. pps and rsi have flatline with minimal volume at +/-.02 for a month. Won't go on forever. Hold tight and wait and see is the name of this game.