As one who does not believe that management reads these Ihub offerings, I suggested a writing capaign designed to tell our management about our hopes and concerns.
I have taken my own advice, and offer my letter to management on this board.
for whatever it is or is not worth, here it is.
Dear Mr. King September 17th. 2009
I've been an investor for over 14 years. And, as you all well know, my investment has not performed as well as it should.
there is so much you have to offer, and among my many reasons for investing with you is that we need the drugs that you are currently developing to help a population which is increasingly inflicted with cancer and HIV.
I recently had a great friend die of a Glioblastoma. He was the head of oncology at Cornell Medical center in New York. Although I tried to get him to contact Mr. Shan, whom I also spoke with, because of his unfamiliarity with Cotara, he would not even consider it as a viable treatment.
I realize that you must walk a tight rope between developing these drugs and paying the bills. I for one believe you have done an incredible job over the last two years.
But... there is something missing for share holders like myself that have been here for so long. We're missing the belief that you have our best interests at heart along with everything else.
I know a few dozen other investors that are as frustrated as I am at the lack of promotion you give the outstanding results you have so far obtained. The morning talk shows are filled with One trick ponies, pharmeceutical companies touting their “petri dish” solutions to this cancer or that viral infection. Their stock prices are significantly higher with so much less to offer.
While part of my reason for buying stock in Peregrine is a desire to contribute to the discovery of a better cure for cancer. I am also an investor interested in a return on my lengthy investment.
We are way past the petri dish in so many indications and the results are more than promising, they are astounding, yet we languish under the threat of being delisted or forced to do a reverse split. I and others believe it is because we lack exposure to the general population.
Which brings me more to my point. It looks more and more to me like the reverse split is part of your plan. I hope this is not so.
I am fearful that this action lights up the sell programs on the computers of every short seller. I believe we are presently under a dollar because of those same short sellers.
I also believe that your attempts at keeping the results of the most recent Bavi chemo results limited to the company CC or presentations to VCs is tantamount to "not spreading the news". Perhaps wrongly, I have assumed that it is management or Mr. Swartzes intention to not attract too much attention.
While it is public knowledge that large pharmaceutical companies are ruthless in their efforts to control their market share, it also goes without saying that they would do whatever is necessary to control the outcome of a competing drug so that it does not threaten their Billion dollar business. This could conceivably include naked shorting a competing company into the ground. The SEC is certainly not watching.
I am sure that as our results get better our threat to these companies increases. More the reason to avoid a R/S and not give them the green light to short us into oblivion.
You also have the potential of having a lot of friends. A “Well informed” public is a powerful allie.
I have accumulated 100,000 shares of Peregrine over the last 10 years. This is a sizeable investment for me and at present I am sitting on a sizeable loss. I do not want to see this loss continue over the next year while we wait to broadcast our news to a much larger audience. I remain committed to Peregrine, but I want to know that you are also committed to me.
I hope that your public statements about responsibility to shareholders are accurate, because I haven't seen a lot of well positioned public information. I trust that you also have our best interests at heart... please consider us before you do a R/S and threaten the stock price even more than you did with those well intentioned but ill concieved, and shareholder unfriendly “pipes”.
And last, If you are considering a partner for Cotara, I encourage you to pull that trigger. Get it done. Whatever you get can help put Bavi on a more sustainable developmental path, and secure a future for Cotara. Just don’t let them put it on a shelf like what happened with Oncolym.
Thank you for listening to one of your long term share holders, and God Speed getting these drugs tested, approved, and on the market.
Please get the word out!
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