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Palatin Technologies Inc. Message Board

  • plangleyxl plangleyxl Jun 11, 2013 12:41 PM Flag

    Stock Sown for Invalid Reasons

    It remains to be seen whether this setback is over or not, but it is a good time to be buying if you have the money There is an old saying on Wall Street that says: "Short a stock that has gone up for an invalid reason." The reverse is also true.

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    • A columnist questions the validity of the phase 2 trials because it includes some data from some participantes that dropped out after a month. Liz explained this very well. The inclusion of the participants that had dropped out after a month was proper and approved by the FDA.. The trials were successful.

      Some shareholders have concluded that the company is about to have another stock offering because the proxy statement shows the company will recommend a vote to increase the authorized stock to 300 mil.They have jumped to conclusions.The purpose is to have long term flexibility

      Some are disturbed that a law firm announces that they intend to investigate PTN management for wanting to increase the number of shares available for stock options..There is no case and the lawyers do not have the votes of the stockholders. This whole thing is absurd. The lawyers are hoping they can get a nuisance settlement. I doubt they will get a dime.

      The outlook is bright. We are likely to have a partner later this year and we will see the launch of phase 3.

      Phil

      Sentiment: Strong Buy

      • 2 Replies to plangleyxl
      • Nothing stopped Palatin from also publishing the results of the 287 patients who finished the study.
        Not to do so initially was foolish, in my opinion.
        Not to rectify their initial foolish mistake once TheStreetdotcom ran with it was even worse.

      • and there are some that are concerned that the company has terminated all but a few employees and effectively shuttered operations while paying inflated salaries to management.
        Even here the company is burning through around 4 million a quarter and before long will be looking at the 6 million dollar listing requirement by early next year. That's hoping that expenses won't increase with the legal action defense.

        This stock also has a ton of warrants sitting there that dwarfs the current float...

        This looks like its heading to the upper 50's and without the support of the warrant holders I would mark that number down a step. The question to ask is has this stock performed to my expectations and is there somewhere I could re-invest the money that would provide a better return...

        Sentiment: Sell

 
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