George recently sold his trading position for around 68 cents for a few pennies profit. That means he is a buyer now yet, he changed his recommendation to Sell.He has put out false information that the company is ab;out to raise new cash and that QVT is exercising warrants and selling the stock. That is false. QVT has not exercised any of their warrants.
I believe QVT is a friend of the company and a long term holder.
There have been two big sellers but it appears they are completely out now. The last seller was a hedge fund, Quoque Capital. There are at least two new major buyers.Deerfield now has 5,547,830 and Great Point added 2,637,207.I'm betting that the buyers were the "smart money"
I' m betting that George would like to be a buyer but he will miss the market.
Sentiment: Strong Buy
Shame on you Phil... I have no order in at this time... you have no idea what I am doing... so why do you make it so obvious that you hold so little regard for the truth
sell at the time I plugged it was a good call the stock has moved lower and I have no near term confidence.
I question what QVC is doing and I offer an opinion as to how I would be playing things were I them...
You on the other hand talk in a way that offers your opinion as fact... Please point to the link that shows that QVC has not executed any warrants.
Last... Please look at your track record and recommendations and let us know why anyone should take you seriously...
You act like a 5 year old...
I also stated that I would re-enter PTN when it dropped to the low 60's or stabilized into a new trading range... as that is what I think should be done with this stock.
ast a little advice... act your age
The company has publicly announce at least three times that they have more than enough cash to last through 2013,yet these false claims that the company is going to sell more stock persist.
As Hype pointed out, the companies slide presentation lists collaboration number two on their list of coming events, right after FDA Meeting.
Sentiment: Strong Buy
"the companies slide presentation lists collaboration number two on their list of coming events, right after FDA Meeting. "
Collaboration is a goal, they are obviously not saying they will be getting a partner for Brem.
I hope they do get a partner for Brem because I think the headwinds against Brem being approved for FSD will be getting quite strong if PTN ever gets to an NDA.
A partner would tell me a separate company thinks FDA approval for Brem is ultimately possible.
It shouldn't even need to be said that to bet on what a company puts on slides for an investor presentation is a prescriptioin for disaster. Furthermore, ignoring what the company is telling the investing world in their quarterly report is yet another prescription for disaster.
Taking two prescriptions for disaster tends to cause disaster.
c785, Hype and King are realistic about this stock. You could learn a lot from them.
heres what the companies official comment is Phil From the 10Q
"As of December 31, 2012, our cash and cash equivalents were $32.9 million and our current liabilities were $2.0 million. We believe that our cash and cash equivalents are adequate to fund our planned operations, including completing analysis of results of our Phase 2B clinical trial with bremelanotide for FSD and holding an end-of-Phase 2 meeting with the U.S. Food and Drug Administration (FDA), through at least calendar year 2013. Over the next twelve months we intend to focus efforts on preparing for our Phase 3 clinical trial with bremelanotide for FSD, assuming that results of the end-of-Phase 2 meeting with FDA support advancing the program, conducting preclinical research on one or more peptide melanocortin agonists for sexual dysfunction and other indications, conducting preclinical research on peptide melanocortin agonists for inflammatory disease related indications, and development and testing of an inhaled formulation of PL-3994.
Our current cash and cash equivalents are not sufficient to complete all of the clinical trials required for product approval for any of our products. We expect that the Phase 3 bremelanotide clinical trial program for FSD will require significant additional resources and capital. We intend to seek additional capital through public or private equity or debt financings, collaborative arrangements on our product candidates, including bremelanotide for FSD, or other sources. However, sufficient additional funding to support operations past calendar year 2013, including Phase 3 clinical trials with bremelanotide, may not be available on acceptable terms or at all. If additional funding is not available, we will be required to seek collaborators for our product candidates at an earlier stage than otherwise would be desirable and on terms that are less favorable than might otherwise be available, and relinquish, license or otherwise dispose of rights on unfavorable terms to technologies and product candidates that we would otherwise seek to develop or commercialize ourselves. The nature and timing of our development activities are highly dependent on our financing activities.
We anticipate incurring additional losses over at least the next few years. To achieve profitability, if ever, we, alone or with others, must successfully develop and commercialize our technologies and proposed products, conduct preclinical studies and clinical trials, obtain required regulatory approvals and successfully manufacture and market such technologies and proposed products. The time required to reach profitability is highly uncertain, and we do not know whether we will be able to achieve profitability on a sustained basis, if at all. "
In my opinion, holding this stock just means more loses... If they avoid any serious phase 3 activity they certainly have enough money to pay the management and shower them with options and grants... But they are years away from completing all phase 3 activities, in fact the second sentence says they will be preparing for phase 3 over the next twelve months... I do not see any statement indicating phase 3 activities will even begin...
The second paragraph begins "We intend to seek additional capital through public or private equity or debt financings", yet you state above " The company has publicly announce at least three times that they have more than enough cash to last through 2013,yet these false claims that the company is going to sell more stock persist."
to your reply "I stand by my statement. You put out a bunch of nonsense."
Honestly who is putting out the nonesense? Man up...
Seriously, don't use my comments as any justification of your positions. The company has a track record on failing on collaborations as well as strongly hinting at upcoming collaborations and then failing to deliver. Management has very little credibility here. For you to believe them at their word is naive at best.
As a general rule, in the world of business, having enough money to last 10 months or so and having no appreciable income is NOT a positive.
Of course having a partnership is a goal, but right now they don't have one and a wise investor should take that into consideration.
These are just simple facts and stating them should not be considered as having a negative attitude. It's called reality. (or possibly common sense).