Couldn't agree more. $20+ within 6 months doesn't seem unrealistic. That would value the company at roughly a Billion. They have $100M+ on the bank, $150M+ in annual sales plus a full pipeline. Looking forward to the quarterly call. Hopefully some good news re. DC Bead adoption.
Sentiment: Strong Buy
One less issue to deal with, thankfully. 12 million settlement. Total legal fees to deal with this issue on Blobel's watch? Nova med on Blobel's hands. Options granted during this time frame? Options exercised during this time frame. Net gain on the buyback? Anyone have a clue how much Blobel has made on his watch. Total compensation? We don't need Lazard, we need a decent honest results oriented CEO that cares about shareholder value. Time for some new young blood leader.
Finally the SEC settlement. That only took...hmm...3-4-5 years. Originally they set aside a small amount, maybe 2 M. Then a few months ago they announced it would be like, 12 M !! So, the number has been known for a while.
But it is done. I believe there is still some arbitration case hanging out there right now. someone owes SciClone some money. But this will not be a material event whichever way it goes, I don't think.
But the NEW news is hiring Lazard to investigate strategic alternatives to get the stock up. What a novel idea!. Somehow, despite record sales, a pile of cash, buying back tens of millions of dollars of shares and the new DCBead now on sale AND presenting at about 12 conferences a year.....Blobel just can't seem to get the stock to move. Plus coverage is abysmal, maybe 1 or 2 guys follow the stock.
There was that little dust up about 2 months ago that they might investigate dry mouth or whatever....but no news on that...surely a long way off.
So, maybe Lazard can come up with some idea. These drug companies are getting bought up and consolidated all over the place Maybe SciClone could be a bolt on acquisition for someone who wants to do something in China.
There was a suspicious call buy this morning at the 12.50 strike for July. Imagine that. And the equity trading this morning seemed pretty strong before fading back to the low 8's. So, someone knew about this Lazard news. No real a/h trading....although the ask is 10 and someone actually paid 9.47 just now.
But SciClone is always a show me stock. Big news starts a run up...then it fades. this has happened a hundred times.
Blobel has been selling all along.....but as I have pointed out...every time he sells, the stock ends up higher.
If it gets over $10....it hasn't traded there much in the past 15 years. So lets see.
PPS at 7.66 minus cash on hand is less than six bucks and Blobel the POS has been cashing out right and left. Nova Med disaster along with SEC and DOJ on his watch. What has been accomplished on his watch that was anything but auto pilot. Time for new blood.
Raco, you are not that stupid... look back at form 4's...google form 4's for scln...best part is that after the Nova Med loss the stock price dropped back, so the options for $6.50 and $7.50 were rewritten in and granted for a second time...and all we got was a big fat loss...
Where do you get 4 million a year? Every 3 months you post that he sells $60,000 in stock options, but that's not 4 million a year, that's $240,000.
A doctor in the USA can make about $500,000 to $750,000 a year working for a medical clinic or hospital. Blobel is a doctor, and his salary is not out of line that of an ordinary medical doctor. Yet he is the CEO of a profitable 1/2 billion dollar market cap enterprise, so he would actually deserve more that the annual bonus's he is taking. .
I'll keep this short and sweet...Google "Penny Stock 101 org' signup for their free newsletter and get their next trade alert. Come back and thank me tomorrow!
We all do. Blobel has worn out his welcome. Too greedy with the multiple screw ups on his watch. Never been a fan. BS7 is right on this call.
I am having a hard time figuring how Blobel is getting away with all the options... company raises guidance .20 per share for year and yet stock goes down...hmmm... so I do the math and that equates to another $11.8 mil in net earnings,seems great, but how does Blobel get over 40% of that, give or take in options? and others get options also...what is actually left for share holders? stock should pay a dividend to all holders if this is the case and stop letting corporate fleece the company...I would be happily still holding here if not for this...