Jake, You make a valid point
IMO, the answer is that an institutional buyer who is sold on a new “story” always knows friends and other funds who can buy under $1.00 and are happy to do so on a tip from an institutional guy who says he will start buying himself, and keep the momentum going, once the stock is over $1.00.
Wall Street is layered with alliances and friendly info-sharing relationships of this kind.
IMO, the problem is not finding people to fill the gap from $0.70 to $1.00. Rather, the problem is in getting a credible analyst (e.g. Dr. Jaikaria) to educate the institutional community on why the PPHM story is well positioned to take off over the next six months and keep going for a long time after it has been “discovered.” Once R&R is fully on board, the story will grow on the Wall Street radar screen like a rolling snowball.
Thus, the big remaining issue is: when will R&R be fully on board? I don’t believe R&R will jump in to the PPHM boat with both feet (i.e. put out a major research report that puts R&R’s credibility at stake) until (1) DTRA contract has been signed and Dr. Jaikaria has privately confirmed that (2) lung trial has started in India and first 6 patients look good; (3) co-infection trial has started in U.S. and first 6 patients look good; (4) progression-free survival greater than 10 weeks (i.e. SOC) has been confirmed in the first 25% of the Cotara patients.
However, the fact that R&R is already setting up an aggressive schedule for non-deal road shows is a real good sign that R&R has confidence that PPHM will meet these several milestones during Sept and Oct. I’m sure part of Dr. Jaikaria’s confidence comes from having seen the “promising” Duke/Chavi data that SK is so “anxious” to see published.
Steve Butabi in post 17120 may be right about timing of first R&R report. We are all just guessing. I do know this, however: putting out misinformation is one of Wall Street’s favorite games. If I were at R&R and wanted my institutional friends, not yours, to be the one’s who bought from $1.00 to $1.50 rather than from $1.50-$2.00, the first thing I would do is to spread the word that the R&R research report is still 4 months away.
Because the lung and co-infection trials are so late in starting, I am now moving my own guess on R&R publication date back to late Oct or early Nov. But I still think first R&R research report will hit the street before SK announces preliminary Cotara GBM results (which should be around Thanksgiving) because R&R gets much more credit for “breaking the story” when the stock is at $1.25 than when it’s north of $2.00 because it has become clear Cotara will be the new SOC for GBM. What SK said in CC about releasing Cotara results at "the 25% mark or the 50% mark in the trial" was a gentle way to keep some pressure on R&R.
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A non-deal roadshow is a private meeting where SK and R&R present to an institutional buyer the reasons why he should start buying PPHM stock in the open market.
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