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Exelixis, Inc. Message Board

  • chillinginbarbados chillinginbarbados Nov 30, 2012 12:25 PM Flag

    mm is a dud, part 2

    But lets not get bogged down by MTC. Given the fact that MM has been peddling Cabo as a franchise, the fact that it is now in the clinics, and thus easier for eventual applications in other indications, cross utility in other Thyroid cancers and for immediate uptake in other cancer patients off-label, there are convincing reasons for most market participants to finally ack that EXEL is poised for better prospects, a real company with a product. Alas, all of what should have beens are just that: a lost opportunity. Lost because we now have a burdensome overhang from the convert and an unhealthy number of short shares. Lost because we the long term investors took a major blow in value and it has not ever been explained why the offering had to happen before Cabo was approved and constructed in such a way that no matter what the value of this company is we are fated to underperform, at least in the short term. No one is willing to step up and counter the yo-yo action currently in place ‘cause there is no conviction that the house will eventually be sound. You cannot tell me that offering after Cabo approval would not have netted more favorable terms, without forcing long term investors to take a 30% self-imposed cut. The stock was going up to near 7 with positive momentum before the offer. There is no reason to believe that it would not have continued upward momentum without a major f-up until today. Even if it had reached 8-9 before Nov 29 and was subject to “sell on the news” I doubt it would have lost more than 5-10%, which would have put the stock at 7-8. Offer price at 6-7 then would have put the floor at a reasonable place, not 4.25 that was set by GS and loan sharks.

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    • OK - we get it. MM is a muppet (actually, he'd make a good muppet with those glasses and hairdo). Anyway - we are still in knee jerk territory. Let's give it a week or two and see how it shakes out. If we're still rangebound below $5, I will happily throw my artillery behind yours.

      Sentiment: Strong Buy

 
EXEL
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