Thanks for recalcing the numbers. The warrant situation here is very unique... something I have never seen before and a point I recently made is that it does have a misleading effect on screeners.... (that was the point of my question the other day)...
Your comment of being a trader is to me right on the mark with PTN, this is where the PTN stock provides a value... unfortunately I have been making this point for a couple of years... and it appears that someone has listened and made it tougher to get in and out. At this time I have been long for about a week.
Good call on moving the thread, I was hoping you'll see my comment.
First, I've read some of your previous comments in this thread, and they contain a wealth of knowledge; kudos.
Despite the misleading numbers, would you consider 16%-17% inst. ownership at $60m market cap as a good indication (mainly for longs of course)?
Would you happen to know the execution price on these warrants? I can't find it.
Lastly, like your comment
"Given your statements I would offer my opinion that you will have an opportunity to buy @ 60 cents +/- a penny or two... and you will have the opportunity to sell @70 cents +/- a penny or two. So I would not decide if I was selling or buying till the price tells me which opportunity I am looking at."
I prefer to trade this stock and actually most small cap bio stocks simply b/c of their volatility and dilutions. Yet the number of days I own a stock like ptn per month is about 10 (trading days that is), idk what this hybrid style of investment called.
My opinion on this stock is short term trading is the way to go. PTN at this price is a money loser for longs. They are years away from a marketable product and while the burn rate at idle is up for discussion, they will need some serious funding for the multiple phase 3 studies they will need.
A partner is just another form of dilution...
The warrants are exercisable at a penney a share. the stock was at 50 cents when the warrants were purchased at 49 cents...
I take some satisfaction from turning a few pennies on PTN as during the mid/late 90's I took a hit... I sold out at $3 and that was before the 1 for 10 reverse split... Had I held... my $30 shares would be worth around 60 cents.
Some years down the road if PTN brings a successful product to market it will payoff big to those that bought near that timeframe but institutional ownership or not I expect longterm holders to take a beating...