If one were to go back over the past 4 years and analyze the progression of the optimistic prognostications of Bavi's potential on this board, one would arrive at the inescapable conclusion that the advertised vaunted expectations have required a steady readjustment downward. From the 2012 "blockbuster adjuvent" Phase II trial fiasco (and subsequent "Opdivo: Son of Fargo!" futility drama) to yesterday's confirmed "bury any Sunrise BLA" to the present "biomarker search for applicable subsets," exosomes, etc: the past four years (I'm being very charitable here) have been one giant clusterflock.
Posters here for the past month leading to the ASM have repeatedly and unequivocally stated that there would be no R/S only to have to commence the mantra "Well, we have nearly six months with the NASDAQ extension to get the price share up." No more unequivocal pronouncements.
Ladies and gentlemen: this is a publicly traded company. IF there was a scintilla of evidence that Peregrine had the goods in Bavituximab, it would not matter if St. Peregrine himself was trying to hold down the stock price for whatever heavenly cause, the market would sniff this out and we'd be exponentially higher than we are now in terms of share price. That's the way the market works. Nothing that was said yesterday offers a remote hope that PPHM has anything on the near or distant horizon that would offer a glimmer of the so-called "astronomical value" we first heard from CEO King and which has been repeated ad nauseam on this Board.
Please step back and take a long hard look at all of this. There are newcomers here, God bless them, who sound just as I thought 4, 8, 12, and 17 years ago. I caution them about lecturing those of us who have lived through this nightmare for 17 years and accusing us of being just naysayers or trolls because we do not share your positive attitude regarding this company. I (and probably others who have left over the years) didn't start that way.
I have nothing but respect for the honest posters -- both the optimists and the pessimists. Some of them, especially the science guys, have written selfless, time consuming posts by the gross. I cannot express my thanks sufficiently. For the dishonest trolls, I just shrug my aging shoulders; like the poor, they will always be with us.
At this point, I've had to realize that at my age, my six figure losses will not be made up by continuing my investment in this company. I will hang on a bit longer with the diminishing hope of a partnership or buyout before the R/S. And I will keep an eye out for Peregrine long after I've sold; my pending sale feels like divorcing a former love after 17 years of ups and downs. I sincerely hope that some of you here get to see those astronomical phenomena that many of us have looked for in vain; but at my age and given my health, it will not be me.
I would ask someone who is in the know if, in your charity, you would inform the Board how much warning a company is required to give its shareholders (if any) before it executes a R/S. TIA.
God bless you all. If I have offended anyone, I apologize. I regret being unable to offer anywhere near what I have received from those who have contributed over the years. I have received far more than I had the ability to return. This has been a great community of support, right or wrong! I will miss it.
P.S. I wrote this lengthy tome because I needed to have closure on a dream that has contributed, often, to a sense of hope at times when I needed it most. Hope: never underestimate the value of that commodity.
