For those attending this SH meeting tomorrow.
Remember, all past Dendreon earnings conference calls have been one big charade put on for retail shareholders. The Q&A section of these conference calls are staged as wallstreet analysts call in with their so called, off-the-cuff general questions and Dendreon responds with their prepared in advance response.
The corrupt Dr. Gold halted the stock prior to the Aug 2011 call to trap retail shareholders b4 he delivered his famous pre-planned scripted line of "the curve is simply moving to the right". The pre-planned bear raid commenced immediately afterward as short interest moved up nearly 4+ million shares driving the price down from $36 to $12. This second major bear raid (the 1st one was in April 2009) along with the sustained short selling raid since then, as short interest increased from 18 million to 50+ million today, has all been about one thing:
To drive retail shareholders out, to create public dis-interest in the next Celgene (who would be interested in a stock that was driven from $57 to $4 via massive shortselling), and to transfer more of limited 157 million OS shares into large clients hands. Blackrock Inc, and Vanguard accumulated nearly 17 million shares throughout 2012.
The despicable negotiation ploy of changing CEO's allows Johnson to beg forgiveness, to apologize for the previous Dr. Gold, to begin anew in his 1st year, and to beg forgiveness for permitting wallstreet to drive the stock from 17 to $5.
The scheme also allowed Johnson to distribute MORE shares & options to himself (700,000+), his NEWLY HIRED exec team (150,000 each), and his new sales team at the depressed price of $5.
If you ask any questions tomorrow, pretend you are addressing Dr. Gold at this meeting because the same wallstreet analysts that are driving decisions in this company are still there amongst us along with the Board of Directors.
This is all happening at the expense of 100's being laid off, an unnecessary plant closing, kicking out retail shareholders and paying many of them off in a $40M settlement, and 60,000 patients wanting access to Provenge NOW.. as this CEO held sales at an average of 860 men ($80M) for the last 5 quarters versus ramping sales to a paltry 1344 men ($125M) when there were 30,000 newly diagnosed w/ mCRPC last year and 30,000 will be diagnosed w/ mCRPC this year.
As you sit in the audience, realize there are wallstreet analysts laughing at you if you were hurt by the 3 year strategic charade occurring since the FDA approved Provenge. Wallstreets greedy eyes was then focused on owning all of DNDN before they hit profitability and both CEO's did their best in making this happen.
Ignore the stock price. The stock price doesn't accurately value the biotech. Its all about WHO OWNS THE LIMITED 157 MILLION SHARES! THAT'S THE FOCUS AND HAS BEEN THE FOCUS THE LAST 3-4 YEARS.
ps: Let's try to enjoy the discussion tomorrow on improvements and cogs reduction when we all know that the numbers are.
Numbers never lie and fortunately for us, revenue can easily be calculated into the number of men treated.
Whenever someone talks in revenue, simply divide it by $94,000 and you'll come up with the number of men treated.
For example, when sales dropped from $82M to $80M to $78M (and recovered to $81.6M in Q4) from Q1 to Q2 to Q3, 2012,, that was simply a reduction of 21 men per quarter. That's when wallstreet analysts contacted their media connections and touted the competition propaganda, massively shorted millions and steadily drove the stock price down from $17 to $5, while Blackrock & Vanguard (The Top 2 of 3 Institutions In The World by Assets that we know of ;).
Only greedy wallstreet talks in terms of revenue (to deceive) not the number of men treated with Provenge
Sentiment: Strong Buy
How would you explain the FACT that the doctors just aren't prescribing Provenge. This kinda blows your whole conspiracy theory unless of course you believe all the thousands of doctors are in on it too lol.
Charade? You basically just said that everything that has happened over the last two yrs was orchestrated just to take the retail shares away. Are you f'n kidding me? You've officially lost it bass! How do you blame the extremely poor sales? Is mgt purposely not treating the Provenge candidates?
Please excuse bass. He's suffering from delusions caused by him losing a lot of money in this stock which he pumped to no end in the 40's. He's probably also still living with the guilt of leading his flock to slaughter with this one and HEB which he pumped until the floor fell out from under it. Anyone that listens to that m o r o n deserves what they get.
Good to read your posts again Mr. Bass. I agree with your post. I like Provenge and what it does for PC patients. I don't trust management and view them as greedy self serving cowboys who care more about their personal wealth than the corporation called Dendreon. I still have a few shares of dndn and like many small investors have moved on to better investments. I have no expectations for Monday's CC. I view this management team as greedy, and self serving. Good luck to you and all retail dndn investors.