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Galena Biopharma, Inc. Message Board

  • nowwheretogo22004 nowwheretogo22004 Jul 7, 2009 1:27 PM Flag

    Not enough cash

    Time has just about run out to do an effective deal. They likely only have enough to get to October without more really low priced stock shares being offered. The dilution could really start to kick in. Cytr is not in a great cash position either and they still own 40+%.

    The technology is really good. It's just too far away from being real viable in this economy. Something positive needs to happen soon. Maybe Kriegsman knows what he's doing by dumping every single share he owns. I'm sure the other Board members are jealous of him.

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    • "technology is really good"
      ==================
      No offense, but seriously, how could you know that? Do you have any substantial experience in bio-medicine or drug development?

      These penny biotechs take advantage of retail investor's ignornance IMO.

      The insiders and mgmt seem to be the only ones that ever make money. They enrich themselves regardless of whether a drug ever gets approved.

      I know there are legit. companies with legit. drugs that get approved but penny biotech is like buying a lottery ticket except the folks running the lottery keep the prize money for themselves!

      Sorry if I sound cynical. It's because I am.

      • 1 Reply to sbilko60
      • RNAi has tremendous future potential. A lot of this technology space is already tied up with patents from a number of companies and RXI has it's own chunk of that. I don't KNOW but I can easily assume that they have something of value or I can disagree with the Nobel prize people and assume that it's worthless.

        Even though I can see that they have the possibility of having something of great value, it's still not clear to me that they have developed it enough to generate a meaningful business partnership, so they probably have to go back to the well and sell more shares at a low(er) price and do more early stage work that may convince other companies to invest in their work. Given that they are nearly out of cash now and the economy is not healthy for new investments, I am not optimistic about the near term for the company's stock performance. It certainly doesn't help that a company director is on his way to selling every single share that he owns. At least that will be completed within the next couple of weeks.

 
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