Clem, I hope you are right! I tend to agree but the wait is killing me. I have not waited as long as you but the 5 years I've waited is long enough.
To quote:Scott Garland - Chief Commercial Officer
"I cannot tell you how excited I am about the possibility of being able to compete in the CRPC market if and when we have an opportunity to do so."
I repeat agin and again. With BioTech stocks I wouldn't bother using charts. There is no way they ever foretold how stock prices skyrocketed; when new drugs were approved for people who had no other option. You can get burned with your charts.
Why else would J. Scott Garland join as Executive Vice President and Chief Commercial Officer in October 2011. That has to be why he spoke so confidently at a recent presentation. Or why would Exelixis hire Jeffrey J. Hessekiel, J.D., as executive vice president and general counsel February 12, 2014. And why would they have these job openings posted Feb 27 and 28,2014, "Temporary Sr. Clinical Trials Manager and Temporary Clinical Science Consultant." I can only deduce they know more than anyone posting here. And they will be giving good news either in March; and/or it will be coming in the Spring and Summer months and beyond. All the bits and pieces of info. over a number of months can only lead me to believe the future is bright. It's the only logical conclusion.
In my opinion, that is correct. Typically, EPS is looked at on a fully diluted basis which includes the converts. Assuming the company can afford it at some point, we regular equity holders want the converts to be called and taken out asap to eliminate the extra yield and the riskless short washing and rinsing. Eliminate that behavior and the stock should stabilize and be driven by either overall market sentiment or company specific news.
Sentiment: Strong Buy
Thanks Urabt2...so in your opinion whether or not the stock does meet this $6.90 trading criteria, it will have no impact on the PPS...that it's a non-event?
I have said this before: DOn't count on the converts converting. You get the same upside as the stock once it is in the money, but you also get the yield. No rational convert holder converts before maturity or being called in this type of scenario because they earn more with the convert and they have a high priority of claim in bankrupcy (more senior than equity), so it is lower risk along with the higher return.
Sentiment: Strong Buy
According to Duckduffer on 1/3/14, "Here is the basics of the convertibles. The convertibles pay 4.25% interest and mature in 2019. They can be exercised prior to 2019 if/when the stock trades at or above $6.90 (130% of the strike) for 20 out of 30 consecutive days prior to a quarter end"
I'm assuming that '20 out of 30 consecutive days prior to end of quarter' refers to 'trading days' vs 'calendar days' (Is that correct?). If trading days, that means the clock started on 2/18. On 2/18 the PPS closed at $7.28 and stayed above $6.90 for 13 consecutive days until it closed on 3/6 at $6.90. It has traded below $6.90 ever since. Including today, there are 13 'trading days' left in the quarter. That would mean for this event to come to fruition (ability for the convertibles to be exercised) that the PPS must trade at or above $6.90 seven (7) out of the next 13 days.Could this real possibility just a few days back have been the catalyst for the drop in PPS? Duck duffer went on to say that if this occurred..'. 'it could be that many of the convertible holders bought the convertibles purely for the arbitrage play, and would convert at that point and thereby cover their short positions. If all the convertibles were to convert and all were part of the current 45M share short interest, the short position would be reduced to 15.5M shares. For longs the beauty of the short interest is exactly that. Although it means a short squeeze is unlikely, it also means that if the price enables an early convertible conversion, there will be plenty of buyers from the short interest to gobble up those shares.
Believe it or not, yes. At this point, anything does. I am to the point where I am questioning my own name! Thanks a lot!
I don't know what the "results" will be....no one does yet.
I am hoping they will be positive...does that help?
Good morning oncodoc, Would you mind sharing your thoughts on results of the upcoming Comet 1 results? Thanks.
Sentiment: Strong Buy
You are a source of unending comedy, and I thank you for that!
My prediction for the day... 25 cent rise.