Has one of the most over paid CEOs in the industry
Has twenty postings for class action lawsuits
Buries an SEC investigation in their quarterly report
Says their lead candidate drug will be a record breaker then a few weeks later, cuts the estimate drastically and does not appologize for it
Once again Raj is not forthcoming with bad news, and it looks worse when it is disclosed by the media.
Let's see where the vaunted cash position is on the next Q report. The street knows they always need to look deeply into this company, since the whole truth is a scarce commodity.
Adam F. is also trying to infer that their is something criminal that is P.K.'s best friend. they are all short stooges trying to help the shorts to exit this stock. they hope people will sell to lower the price. This is a normal routine buy the sec when unexpected changes occur.
"During the three-month period ended March 31, 2013, net cash provided by operations was approximately $21.6 million. Cash, cash equivalents, and investments as of March 31, 2013 were $163.4 million, as compared to $143.0 million as of December 31, 2012."
Not too hard to understand.
So confident in the future revenue stream and cash position, SPPI paid down its line of credit by $50 MM in April and bought back over $1.6MM of outstanding shares during Q1 2013 in the share buyback plan.