Loof, that statement implies that the PPHM PPS is undervalued.
Embedded this expresses the believe that :
A) The PPHM share price is undervalued and does not reflect the value of the underlying assets (otherwise selling IP/Pipelines will change NOTHING to the PPS and they can as well keep them because everyone that would want out can do it at the current price because the sell out will do noting for the PPS).
B) It indirectly says that the IP and pipelines have value, which I personally certainly agree with, actually I remain on my position that it has huge value in the war for I-O SOC with combo's. The future will show who was correct.
C) It says that you do not believe that the current BoD/Management can realize that value (that is where we differ in opinion, although at this point not longer ALONE but with a strong partner due to the difference in nature between economics of chemo and I-O combo clinical trials). Every OTHER small cap biotech would have been death if it had to go through what PPHM went through the past decade. But PPHM has cash, no creditors and owns it's IP/Pipelines unencumbered and has a lucrative Avid production facility. That is also BoD/Management's doing.
D) It shows that you have not split up the value of bavituximab in general from the failure to get it approved in combination with Chemo via SUNRISE. In my opinion this doesn't render bavituximab less valuable, it only will need to be rentabilized in Immuno-Oncology combo's with a strong future outlook rather then in chemo combo's which will soon be of the past. Yes, I know, time passes and I would also have preferred not to lose the SUNRISE time, but the reason why it was stopped was certainly not BoD/management's doing but an anomaly in the control arm.
E) Finally it shows disbelief in what world class collaborators parties believe. They extend their collaborations with PPHM/Bavituximab based on observations of a first series of tests that where done. I think Memorial Sloan Kettering, NCCN and AstraZeneca's involvement in the Bavituximab path set-out will reflect where the future lies. If in what we will be told at the next Q/CC includes chemo then those parties will have had their say in that and it means that chemo+I-O+Bavi may still have merit. But Chemo+Bavi will most certainly not be endorsed by any of them as a combo that has an economic viable future if you have to START NOW with a new PIII for approval somewhere in 2020, a moment where chemo will probably no longer be the leading solution for many cancers. Approval of Chem+Bavi NOW (2016/2017) would still have had several years of cashing but as posted before would have been a DISRUPTIVE approval for I-O players (but you don't have to believe me on that one).
So it looks like your call to sell PPHM would be a voting matter because I, and all over here that I am in contact with, do NOT want PPHM to sell the company (unless for a good price) at this point.
So if you are serious about your statement then the way to go is filing a shareholders proposition for the annual because I don't think PPHM is otherwise going to consider the posts on a message board. And if there is a majority of LONG :) holders then it might pass. I only fear, and I am not talking about you, that many of those that would support this call to sell the company do not have the shares on their shelves to make it happen :). Remember that such vote would need a REAL majority of votes NOT including Broker No Votes.
And who knows where all those PPHM shares went that we saw trading below 0.50$ in the after SUNRISE PR period? They must be somewhere, mustn't they? So if less then 0.50$ is giving away the company then all that want to be on the receiving side can be now. Not even any needed deal as for Dart, just right there on the open market.
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