When were they "accurate": when they gave year end reuslts and guided for $300 milion, or when they guided for $160 million a couple of weeks later?
It is inconceivable to me that management did not have the January/February sales data when they presented the year end results. They definitely have some serious 'splainin to do.
Where dies that leave us now:
Assuming $160 million is believable, the company is worth about $640 million. That's $10+ per share. I expect the price to sette in that neighborhood once the blood bath is over.
By the way, it's time for the CEO and everyone complicit in this "negligence" to hit the road never to be heard from again. Further: last year's sales by the CEO can be viewed in an entirely new light now. This guy is brilliant but has lost all credibility. I no longer trust him.
with a "strong start in 2013" and fusilev sales around 10-15million USD is is also possible that sales of fusilev won't recover and we are only around 100million USD product sales for 2013 (including only 20-25million for fusilev). With an 60million USD loss and heavy cash burn.
Nobody trusts this company anmore.
Raj hasn't eggs...otherwise he had conducted a conference call to explain the massive change in guidance..
You are right, rvfirst. I should have trusted my instincts, when Raj sold shares off in the 12's, while telling us that this was worth so much more. Then we hear he pays himself more than just about any CEO around. Then he seems to take it so personally, that there are so many shorts, doth protesting too much. I am learning to ignore what biotech CEOs say, especially this con artist. Looks like the crows and circling vulture shorts were right, they usually smell a desperado first. And me, I am out a whole bunch of money. I think this con was short-sited, too, because no Nobody will believe this guy, not just AF. Investors won't trust him anymore, the self-serving POS.
Assuming 160M revenue you think a market cap of 640M is right for a company with very little growth prospect ?
I expect some will see value at 2X revenue "guestimate" of 160M but it will be a challenge since mngt can not be trusted.
Revenue may bottom below 100M depending on how badly Fusilev gets beat up. Given the speed of the turnaround in F sales it could be all downhill from here.
A J code for Fusilev has little worth if insurance companies say "use the generic when available". That is very often the case.
we have a new coo (ken keller/amgen) and a new cco (joe turgean/amgen) who have vastly expanded sppi's sales footprint with the following changes: new marketing directors for fusilev, zevalin and fotolyn. 6 new regional directors with each having 10 sales reps along with oncology nurses and support staff. and with all these changes going into 2013 projected revenue will drop $100. sorry i don't buy it. you don't miss sales projections by $100M.
Sentiment: Strong Buy
Right. I don't think we have heard the full story yet. I give management credit for intelligence and therefore expect they knew what the January/February revenue trends were when they presented the year end numbers. So... why did they not 'fess up then.
I can't help thinking that a whole 'nother game is being played here that we are not even aware of.