I find it very troubling that our PPS has been jerked all over the place. Yes, we've seen this type of activity before and, no, we don't know if it's legal or not. The MMs have great latitude in their ability to make stock trades. We should all know that. We should all also know that the SEC is charges with policing many of the Market activities.
I am also troubled that this type of activity will continue with GERN stock unless/ until some action is taken. Hairy mentioned, yesterday, that he was going to submit a SEC Complaint but didn't have all the necessary information to do it.
So, what to do????
I'll offer a few ideas with the notion that others will add to the list.
1. We have some board members who have worked in Market activities over the years. Some have many years of experience. Maybe they could tell us exactly who the MMs are who trade GERN stock and how to contact them?
2. Maybe these same members can suggest questions that we can formally or informally ask these MMs about GERN trading that will give us some insight to the trading over the past several months?
3. Anna told 77 that GERN did NOT sell any shares. I don't want to suggest that Anna mislead 77, or, that 77 misunderstood Anna, but lets wait before taking any action with the SEC until we see the next formal financial report. These Quarterlys/ Annuals are signed by the company executives and carry the full force of law. Perhaps this next report could be used as one basis for a SEC complaint? If GERN didn't sell, what happened?
4. Complaints with requests for action should be sent to chippy and the whole GERN Board of Directors. After all, the PPS effects them too. They should be concerned about the "games" and should be empowered to request a formal SEC inquiry as to the legality of whatever transpired. If chippy is interested in Investor Value, let him find out what is going on and then tell us.
What say the tribe?
Of course, IMO.
look at the 18 month to 2 year chart on this. GERN sat at 1.25-1.75 for most of 2 years, (265M sharesover that time then it jumped 2-300%
a lot of people are taking their profits and looking for something else. it has to build a new base at this level before the next move
the base at 4.75-5.25 has about 140M shares traded at that level, and that's all in the last 2 months.
assted: there is nothing currently published or CCed that supports your conclusion.
One thing to consider, the Mayo trial may have been relatively free of cost (except for the Imetelstat) to GERN. I haven't seen anything that suggests that GERN paid for the trial cost. Maybe they did? Maybe they didn't?
Black, I think 1. This company has many "enemies" who do not want it to succeed, 2. A lot of institutions and individuals have their stake in Incyte/Jakafi some of who (the rogue ones) may be trying to keep Geron down or help stall Imetelstat's progress, and 3. A lot of traders (both institutional ones and retail ones, knowing that Imetelstat is still in Ph I, are just trading in and out everyday to make some bucks! All this will go on until Geron announces a partnership deal or Imetelstat trial reaches Ph III or, at least, news like FDA's breakthrough status is announced. In my sincere opinion now, I think the company is doing all it can to build up shareholder value while bringing up a breakthrough drug for the benefit of those suffering from deadly myeloid cancers. Longs just have to be a bit more patient.
yog: all of this could be very true. I'm thinking that it's not just one of the above but more than one, and, there could be additional factors playing in the game.
I think that one of the BIG keys is GERN's Path Forward which chippy keeps saying will be released next quarter. I REALLY had hoped that he could have released some of it at the Investors' CC. That was an ABSOLUTELY missed opportunity!!!
After waiting 15 years or so, another few months isn't a big deal.
Seems that Anna divulging to one investor, prior to any press release, that no shelf shares were sold would be considered an SEC violation. Speculating, however, the only reasons they might not have, other than being demented, would be a strong expectation of either a fast track/breakthrough designation or a partner deal, or both. If they get the first and eschew the second, they will have put all of their investors back into the hands of short minded traders, and stock manipulation will go on until they get FDA approval and start bringing in cash. One thing that might be more reassuring would be for insiders to take on more equity risk by taking a greater part of their compensation in stock options and buying shares outright.
That shelf shares comment is why I suggested waiting until the next Financial Report comes out before doing anything. That would be ground truth, not he said-she said!
I have been wondering why GERN could announce that they are pursuing FDA Breakthrough, and say it under "Safe Harbor" rules? These results seem to scream for this process!!!
I certainly understand and appreciate why they can't say anything about partnering, etc. until it's finalized.
I've been involved in Strategic Planning and Small Business Development for quite a while. Not many of these things make much sense. It's like we are watching amateur hour!
Of course, IMO.
You bought too many shares if you are compelled to worry day to day fluctuations. Small biotech could drop 50 in a day, recover all of it next day. I went through that countless times.
Spread you money to 10 to 20 small biotech you will sleep better.
Having said that. I bought too many GERN myself., which is why I'm checking this board everyday.
Geron is NOT a sure thing, one bad news like a patient suffers relapse could send share price down 60% in a minute. ( That'd be a buying opportunity)
1600: I've bought and sold GERN many times over the past 14 years, always keeping some sort of core position.
However, I've never bought more than I could afford to lose because this is an extremely high risk stock.
Of course the stock is volatile as most biotechs are. They are highly speculative issues which can soar on good news and drop like a rock on bad. It has nothing to do with mm's which in most cases are a moderating influence. So if you want stability, invest in blue chips and not on little biotechs that are betting the farm on a single drug candidate.