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<<The lack of news at such a critical time, to me, just indicates continued activity not available for public disclosure.>>
"Athero,
I feel the same way. The people that have a different opinion are just more active in posting."
------------------------------------------------
I agree with both of you. The board has been dominated lately by negative posters who only seem to need to let off a little steam. We're all terribly frustrated, but "no news" does not necessarily mean "bad news". If COR was as desperate as the board seems to believe, they would have sold off 20+ million shares right after the vote in November.
BTW - no one is buying, but I sure don't see anyone selling either.
Patience ...
Aiming,
I know option #1 is the popular choice now, but the poll numbers should show my 200,000 shares for option #3.
Thanks
I'll be voting my 200,000 shares along with meixatech for option #3. If I didn't have faith in management to do the right thing, then I wouldn't own the stock - I would have sold long ago.
Good luck to all,
Don
alertmeipp,
Well, it looks like the faithful are all jumping ship now. I guess you can't really blame them. It's pretty tough remaining confident with the relentless drop in price. But I refuse to blame management for our situation - just a combination of a deteriorating economy and terrible luck.
I for one still believe in the science and am convinced that even as an "absolute worse-case scenario", COR should fetch anywhere from 25 to 50 cents for it's IP estate. So with the price now in the 20 cent range, I consider this a "strong buy".
And I'm not just preaching - I actually purchased another 30,000 shares this morning. And if it sinks to 15-17 cents, I'll probably buy another 10-20K shares.
Good Luck
Maxim,
re: Isn't it likely that the pipe buyer is liquidating at a profit down to, say 19-25 cents while retaining upside with the warrants because there are other opportunities in the market(s) right now."
I agree completely. The pipe buyer is the obvious seller right now, and will continue to slowly sell in chunks. My fear is that he will sell lower than the 17 cent price as long as his "average price" remains above 17 cents. With the recent sells in the 28-30 cent range, he may actually sell below 17 cents in order to liquidate entirely.
I still see this as a great buying opportunity - and will continue accumulating heavily in the 20 cent range.
Good luck
mlkr,
24 "partial transactions" treated as 1 transaction by Etrade - 1 transaction fee - $10
Manipulation once again.
I had a buy order in for 2,400 shares at $.37 this morning and it finally filled at 3:44 PM. It was bought in chunks of 100 share lots, 24 total transactions, and each transaction was separated by 1-2 minutes. So the total 24 transactions took a total of 38 minutes.
If this isn't proof of an attampt to manipulate the price downward, then someone needs to provide a better explanation.
horselover45,
Santa Anita is my favorite addiction too, but COR is a close second. But with the Derby only 3 months away, I am focusing more and more attention on racing.
Along with many others on this board, I continue to add a bit more to my significant holdings at every payday. Most of us cannot buy large chunks any more, as we are all-in already. So we just have to sit back, watch as the price crawls lower, and buy what we can - when we can.
I am extremely disappointment with the continuing drop in price, but my confidence remains high. Due diligence is being done, term sheets are being completed, and a deal/partnership WILL happen.
Patience will be rewarded.
AmpMan,
re: "My suspicion is that we'll PIPE and reverse split, just to appear 'sound' and stay out of pink sheet teritory. I believe we'll quickly (weeks) slide/sink into the below 5 cent/share territory (at today's outstanding shares), and then slowly fade into oblivion".
Getting mixed signals from your post. Since you use the word we, I assume you still own shares in COR. If you truly believe the price will drop 90% (from $.50 to $.05) in the next few weeks, why in the world would you just not get out before the 90% plunge?
My guess is that you (like countless others on this board) are just extremely frustrated by the wait and are letting off a little steam. And that despite your negative comments, you truly believe things will improve over the next few months (whether it be a PIPE, licensing deal, or partnership).
If this is not true, then please cut your losses and move on. Lesson learned.
ombowstring,
Re: "most, I would think be happy with a buyout of at least $2 a share at this point".
You may be correct in your assumption, but I don't think so. And I believe the majority of shareholders would be seriously upset with a lowball sale.
So if you do write Varney, please don't convey the idea that you are representing all (or most) of us.
Don
I agree that there seems to be support at this level, but there are still a few large holders who want (or need) to get out now.
I'm also hoping that those who sold in late-December (for tax reasons) will be re-entering after they get past the 30-day restriction period. COR did extremely well today considering the dump in the market.
Don
enemen,
re: "if there's nothing to say about cortex pharmaceuticals, there's nothing wrong with not posting anything at all"
I second the motion. This politic, conspiracy garbage is really getting old. Please, let's keep the talk to Cortex.
Don
After once again analyzing the risk/reward for COR at the current price, and once again dismissing the "long-running scam" reaction, I could not resist the urge to add to my position. I added an addition 5,000 shares at the bargain-basement price of $.57 this morning. Maybe I could have waited a bit longer for $.50-55, but the few cents will be irrelevant in the long term.
As always, I will patiently wait for a partnership, acquisition, licensing deal, PIPE, ... With all of the recent successes in RD, a deal is inevitable.
Good luck,
Don
scstocks,
OT - if you wouldn't mind, could you please explain to all of us how to enter a fractional-cent trade. It has been extremely frustrating for me to enter a full-cent trade (such as $.75), only to lose out to a trade a fraction higher ($.7501).
I trade on Etrade and it will does not allow fractional-cent trades.
Thanks.
Market Fest,
You would think all of us longterm Cortex shareholders here on the West Coast would easily qualify as "severely depressed" - particularly after the ADHD rejection last fall.
Just one problem. How can anyone living here in So Calif qualify for depression when we are continuously surrounded by warm sunny skies, beautiful beaches, gorgeous woman, and the best horse racing in the world.
Sorry, but there is NO depression here.
Based on the posts over the past several days, it appears that our confidence level in achieving favorable results has dramatically deteriorated. There are no obvious reasons to expect poor results, but based on past failures, it appears that we have been "conditioned" to expect the worst. Pretty sad!
And those who point to the stagnant share price as a "sign of bad news" need only look at the past few binary events to see how completely unreliable the price action can be. When the price retreated (prior to the ADHD results in March 2006), we were surprised with excellent news. Then when the price shot up from Jan 2007 thru Sept 2007 in anticipation of ADHD approval by Psych, we were blindsided with disasterous news. The COR price trend has NEVER been a reliable indicator of sucees or failure.
There's no logical reason to expect bad news tomorrow - so I CHOOSE to remain confident.
Good luck to all
horselover,
With Haynes no longer posting on this board, it appears that the recent award of 200,000 options to Dr. Varney (along with his promotion) was seen as a non-event. These options will be priced at the close of business on 8/13/08.
This news led me to review previous warrants and their expiration dates. Below is an updated status from gfp from 3/14/07:
PIPE #1 (8/22/03) - 1,883,335 warrants remaining as of 3-31-06, exercise price of $2.55 (potential proceeds of $4.8 mil).
PIPE #2 (1/9/04) - 3,969,137 warrants remaining as of 3-31-06, exercise price of $3.25 (potential proceeds of $12.9 mil).
PIPE #3 (12/15/04) - 1,775,689 warrants remaining as of 3-31-06, exercise price of $3.00 (potential proceeds of $5.3 mil).
If these numbers are still valid, then it appears that 1.88M warrants should expire next month and 3.97M warrants should expire in January.
Don
jerrydylan,
Re: "the close is the important trade, last hour and the close". I've heard this stated over and over, but have never really understood the concept.
Why is the close so important? If 90% of the trades are in the $.90 range, but the last few small trades are in the $.95 range, why would the few at the close mean more than the vast majority?
Whenever I see this pattern, I tend to believe that someone is trying to get out, sells as much as possible thruout the day at the $.90 level, then buys a few shares at $.95 at the close to give the "perception" that the real price is $.95. That would enable them to sell more the following day at the $.90 level.
Thanks,
Don
OT - DSCO
I got the double whammy yesterday with both COR and DSCO taking a dive. Both have unbelievable potential, but just seem to hit hurdle after hurdle. I still consider both to be outstanding "long-term investments", but the "short-term" performance SUCKS !!!
The major differences:
DSCO has a drug (surfaxin) that has passed all the tests, but has a crooked, incompetent CEO (Capetola) who has pissed off the FDA to the point where they will find any reason to delay final approval until he is ousted (or the company is bought out by a BP).
COR has an extremely promising pipeline (ampakines) that can't pass any tests, has limited funds, but has an outstanding, trustworthy CEO (Stoll) and staff. They just seem to need to get over the hump - then look out!
JMHO
meixatech,
Same thing happened to me last month. I purchased 1400 shares and it also took several hours to fill. There were a total of fourteen 100-share lots and each one was separated by 5-10 minutes.
It appears there is a group which is continuously selling small lots on a regular basis in order to keep the price in the low $.90's. Every time the price start to creep up, another 100-share lot is sold, bringing the price back down.
Very suspicious.
Jads14,
It seems pretty obvious to me too that R&R pulled off the recent price hike in order to benefit their key clients. About 2 weeks ago, they started buying huge volumes in the $.70 -.90 range. Then out of nowhere, R&R announces an upgrade - and the momemtum from the upgrade (and recent price spike) attracks a swarm of new buyers. When the price reached the $1.00 - $1.20 range, they immediately unload their new shares to a flock of unsuspecting buyers.
In addition to making a bundle for their key clients, R&R also benefits from their upgrade. R&R would have looked pretty foolish with a "sell" rating and a $.30 target just before COR received favorable results in June/July.
So the net effect of the R&R upgrade was two-fold: 1) a quick profit for their key clients, AND 2) a tactical move to avoid embarrassment with their previous $.30 target.
In the end, this price manipiulation will be meaningless, as the price should reach significantly higher levels after favorable results and/or a BP deal. And I will continue to buy at these levels. However, that does not excuse R&R for their immoral behavior.
Don
gfp - OT - 6/18 is DSCO's conference call date with the FDA. If all goes well, they will get clarification as to whether or not the FDA will allow a Class 1 review. A response to the remaining "minor" issues will be formally submitted to the FDA in June. If a Class 1 review is granted, then the FDA decision will be made in August (if not earlier).
I am fully aware that most of the previous DSCO owners on this board no longer own DSCO - due to the recent FDA "approvable" letter. But I remain convinced that it is actually a much safer bet now then it was 1 month ago. And at a much lower price. I'm just disappointed that no one else shares this opinion.
Good luck to all.
MF4,
Agreed - price should stabilize in the $1.00 range for the remainder of the week, then crawl slowly higher towards the end of the month.
Three predictions for June:
1) COR announces favorable RD results (phase I) on 6/30, resulting in a price increase to the $1.50-2.00 range. This new price will serve as a springboard to the $2.25-2.75 range after favorable RD results (phase II) on 7/31.
2) DSCO receives a Class 1 review status from the FDA on 6/18, paving the way for final FDA aprroval of Surfaxin within 30-60 days. Price increases immediately to the $2.25-2.50 level, then hits the $4.00 level upon FDA approval in August.
3) Belmont Stakes (6/7) - Big Brown and Denis of Cork finish 1-2 in the final leg of the Triple Crown, leading to an exacta payoff at odds of almost 10 to 1.
Don
I agree with the other posters here regarding the devastating nature of ALS. In fact, I will be attending a funeral service tomorrow in Ventura, CA for a close workmate who passed away from the disease last week. She was in perfect health last September when first given the diagnosis. It took less than 8 months for ALS to claim her life. It was torture for her (and her family) over the past 4-5 months. She was a sweetheart - and only 55 years old!
As much as I am against suicide, I too would take my life if diagnosed with the disease, as quality of life disappears and the strain on the rest of the family/friends is unbearable.
Normally, I try to stick with the basics and avoid topics regarding market manipulation. But this morning's action is extremely suspicious.
I placed a buy order for 1,400 shares @0.66 at 11:40 AM this morning, and it took 14 transactions of 100 shares each to finally fill this order. Each transaction was separated by about 4-5 minutes and the entire order took more than 1 hour to fill. In fact, every time some shares sold at a higher level, another 100 share transaction was completed (to once again move the price down).
Someone is doing everything possible to keep a lid on this, and with volumes this low, appears to be succeeding.
Don
aiming,
OT - if DSCO was trading in the $2.80's prior to Friday's approvable letter, then buying in the $1.90 range now should be a rare opportunity. DSCO's chances for final approval will most likely be delayed 3-4 months, but they appear to have overcome several key obstacles in their path to final FDA go-ahead. The market is still very down on the company right now due to the three "approvable" letters, but the final hurdle coming up seems to be very minimal.
Just my opinion.
gfp,
OT- re:DSCO - looks like we got lucky in not selling in the $1.30-1.75 range last Friday. The delay may only be for 60 days and the probability of final approval just shot up (they will NOT require any additional trials). Will this story ever end?
Good Luck!
food4thought,
OT - I agree with gfp that the Yahoo board is the only decent board out there now, but you usually have to skim thru 20-30 useless posts in order to find one informative one. Just like COR's Yahoo board several years ago, it has recently been consumed by traders and bashers. The only decent poster I would recommend would be MD4neon. He is loaded with useful data and seems to be very objective with his comments.
I personally would not invest at this time and price ($1.46), as the last few approvable letters have required an additional year+ of data. Since COR results are expected in July, you could probably invest there, then move funds later to DSCO.
Horselover - great Derby. Big Brown just may be a Super horse. But the tragedy involving Eight Belles was terible. She will definitely be missed.
davidal, jerrydylan,
OT - re:DSCO - the FDA has once again shown it's true colors, waiting till the last possible moment to give a third approvable letter. If there are indeed some remaining issues, why wait so long to inform DSCO? Why keep dragging this out? First the stability issues, then the manufacturing concerns, now what?
As with COR price after the FDA's decision in Sept 2007, today's DSCO price will be cut by at least 50%. So my record for the past 9 months is now 0 for 2.
At the the Derby is just around the corner. Go Colonel John!
gfp,
O.T. - concerning DSCO, did you really expect the FDA to meet the May date? With the FDA lobbying to get additional staffing approved, I fully expected a 1-2 week delay (around mid-May). If the FDA had actually met their target dates, it would imply that their staffing levels were sufficient. By missing these dates, they end up validating their need for additional resources.
Anyway, in DSCO's case, any delays actually improve the probability of approval, as the likelihood of batch stability problems lessen over time.
Hang in there. You purchased DSCO based on your due diligence; please don't change your judgement based on fear or rumors.
Good Luck
horselover,
OT - I've already placed my money on Colonel John in Saturday's Derby. Any live longshots to add to an exacta?
I'm thinking Denis of Cork may pull the upset, but nothing else really stands out.
Don
gfp,
I too remain confident that DSCO will survive today's decline, but not yet convinced that the sudden price surge in AH trading is real. The selling volume during the selloff this morning was huge (3.4M shares), but the AH volume was minimal in comparison (50K shares). Let's hope the buying volume tomorrow returns to the million + level.
I too have every intention of selling half of my DSCO shares soon after FDA approval and re-investing the proceeds directly into COR prior to the RD results in late June.
Don
gfp,
You and I are in the same boat - a double slap in the face with COR and DSCO. It appears that asuhowe explained the first dump, but I'm still at a loss for DSCO's decline.
But I remain long in both stocks, so hang in there!
Don
gfp, OT -
re: "Aiming, OT - BTW, I unloaded my DSCO today, at least for now. After watching what happened to Spectrum this afternoon, I was reminded of how treacherous these events can be. So I got out of the kitchen, luckily with a decent profit, but not the homerun I'm looking for. I may get back in with a smaller bet. Seeing Spectrum implode brought back some PARS-like visions of looming disaster..
I too have a considerable investment in DSCO, and am curious about your 100% reversal in less than a week. You indicated last week that you had high hopes for a "double" in early May (when the FDA would most likely approve Surfaxin) - and now you appear to have lost all confidence. Nothing has changes over the past week, so is there any particular reason for this drastic reversal?
With DSCO's approvable letter in hand and the 6-month stability issue most likely resolved 4-5 months ago, I feel that the likelihood of a May FDA approval has better odds that even an RD success for Cortex.
Anyway, just curious.
Don
Judy,
I've attended the past 2 SHM's in Irvine, and have every intention of attending the May 14 meeting also. I normally listen quietly by myself, but this time I'll make it a point to introduce myself to other members of our group.
Hope to see you there.
Don
Horselover,
I already placed my wager on Colonel John in the first Derby Future pool. So I got lucky and am sitting on 19-1 odds.
Neuro,
OT - just got back from a 10-day trip to Thailand, and wanted to let you know that everything you said about the country was RIGHT ON. Spent 6 days on the island of Koh Sumui and never felt more stress-free. Warm white sand beaches, $6.00 daily massages on the beach, inexpensive hotels/food, daily scooter trips around the island, snorkeling, etc. And the friendliest people on earth. Then another 3 amazing days in Bangkok, and finally home.
Thanks for the recommendation - it was indeed heavan!
Don
gfp,jerrydylan,aiming,
I am fully in COR at 110K shares. I would like to continue adding, but funds remain limited.
My only other "high-risk" investment at this time is DSCO. Since I have so much riding on COR already, I am adding all new funds into DSCO prior to the May 1st FDA date. I too think the CEO of DSCO is a complete bozo, but with an approvable letter already in hand and the 12-month stability issue most likely resolved, the stock should succeed despite his past failures. I suspect that the FDA will be late with the May 1 date, but fully expect a positive decision sometime before the end of May. If positive, I fully expect a rise to the $3.50- 4.00 level (much less than the $5.00+ hype).
Once DSCO reaches the $4.00 level, I plan on selling half of it, holding the remainder, then re-investing the balance of the proceeds directly into COR (prior to June/July RD results).
Good luck.
Don
Iggs,
In response to your comments:
"Why does everyone seem to think that there is a deal in the works with SGP? If you're SGP and you are interested (which may or MAY NOT be the case), the longer you hold off, the sweeter the deal."
Of course SGP will be making a deal with Cortex. Why on earth would they invest significant research money in an indication (ADHD) they have no rights to. It seems pretty apparent that a new deal will be completed prior to moving too far along.
"In my mind I have written my equity down to nothing. I ascribe a zero probability of recovering any of it."
I've asked this before to others, but have never received a logical response. But it's mindboggling to me as to why anyone would remain invested in a stock if they give it a zero probability of succeeding? Why not just take your losses and run? Why would anyone remain invested (or why would anyone make comments on a message board) if they truly believed the stock (and management) was a joke?
Andy,
O.T - if you're at the track today, stop by the walking ring and say hi. There are two other partners in our stable who are also COR owners.
Neuro/gfp,
Regarding the Organon agreements and COR's current financial needs, is there a chance COR will be receiving any significant milestone payments from SP in 2008?
Thanks,
Don
gfp,
That PGGC article was one of the best written ones I've read recently regarding the so-called "pension guarantee system" and "housing bailout". Too bad our elected officials don't have the guts to do the right thing!
I have no doubt PGSC's investment switch to a higher percentage in stocks with bite us all in a few years.
Don