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XOMA Corporation Message Board

  • stpetebum stpetebum Oct 24, 2012 5:53 PM Flag

    credibility- that's what they are lacking CREDIBILITY.

    Some posters, like nediver call it "deception and lies"
    I wonder how he could say that- this from the August 7th Conference call transcript

    Today, we are reaffirming our 2012 guidance that we issued on January 5, we anticipate cash used in ongoing operating activities will be approximately $35 million. We expect our cash will be sufficient to fund our operations into 2014 and comfortably pass the time when we expect to report top line data readouts on the clinical trials that Paul has just discussed. I’ll turn the call back to John now.
    Today, we are reaffirming our 2012 guidance that we issued on January 5, we anticipate cash used in ongoing operating activities will be approximately $35 million. We expect our cash will be sufficient to fund our operations into 2014 and comfortably pass the time when we expect to report top line data readouts on the clinical trials that Paul has just discussed. I’ll turn the call back to John now.

    I don't get it : first they say they have enough cash for over a year, then they borrow more from GE capital at enormous interest rates ( 10.9% as I recall- do your own DD) and then massively dilute the stock all within 10 weeks of that CC" WHO HOPPEN?- It could not possibility be fraud, lies or intentional misrepresentation. As a trusting soul I would have to take the explanatioan that they are massively funding new studies for 052- like studies for neutrophilic dermatoses . Or perhaps, they had unexpected expenses- who knows- me I'm trustworthy.
    I went over that conference call transcript and figured out why they can't complete the enrollment- they are looking for acne patients "over 70"- must have been a typo- maybe that promise of enough money to take them into 2014 was a typo as well
    any comment from xomophiles who believe every press release?
    just opinion

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    • if xoma were credible and always completely told the truth, they would be selling not at $3 (40M/3=13M shares), but at $1.35 again (40M/1.35=29.6M shares). The affect on commons would be not the 19% increase in shares (67- 80) but a 44% increase in shares (67- 96.6).

      So now the problem is does the lack of credibility in order to further their means to accomplish their ends also translate into their lack of credibility in their drug trials. well, there is the rub. The clue which may help reveal the answer to this mystery may show up in any 13D's filed after October 29th. The bakers can own up to 40% and were -pre recent dilution - at 30.6%. They are in the unique and enviable position of having their representative in the xoma board room. On the other hand, no 13d's may leave alot of room for doubt.

      With all that being said, it is clear that no one has bought into the xmet program hype yet. IF, and i take that as a big if, xmet shows any real hope then the only way to proceed is by pursuing parallel development of xmet as xoma continues with their soon to be 5 Phase 3 attempts and their POC's.

      There needs to be something said about the POCs, but i don't want to be delusional. However, it is striking to me the visual similarities in some of the patients with Sweets or Schnitzler and some of the acne vulgaris patients.

    • Uncertainties on the business successes and failures of Xoma's partners as well as uncertainties in the US economy as a whole under Obama's failed policies, has caused too much risk for Xoma, IMO. Some of us saw the effects of the bad economy in 2008 and 2009 on Xoma, and how they barely survived on long-term and former shareholders backs. If Romney doesn't win, Xoma may have failed due to failures OUTSIDE of Xoma. The stock may have crashed making it more difficult to raise funds through common offerings later. I believe this latest common offering was an insurance policy in Xoma's future. The fact that Credit Suisse took all of the offering early also says Credit Suisse and Cowen have confidence in Xoma, at least short term. I hate dilution, but feel good about my shares, which I plan to hold for better times. Base support is at $2.82 minimum.

      Sentiment: Hold

      • 1 Reply to bluehorseshoelovesxoma
      • Bluehorse: you are missing the point of my posts. Perhaps everything you say is true, and suppose it was a good business decision to raise cash now. I don't know what's in Varian's and the BOD's head. the point I was making was not related to the necessity or practicality of raising money now, it was related to the validity, veracity and credibility of what they say in their press releases. Now this may be a great investment if they ever develop a blockbuster drug. But answer these questions yes or no, true or false
        1. Did Xoma release a PR stating they were starting enrolling uveitis patients on June 27?
        2 when several posters like Zum and myself questioned why these trials could not be found on clinicaltrials.gov- didn't you post that it was just a delay because of the ineptness of federal employees?
        3 At the conference call in early August didn't they say they had been enrolling for 5-6 weeks?
        4 didn't they just release a PR early this month that they had just started enrolling patients for these trials?-in early OCT.
        If you review the PR's you will see the answers are 1.true 2.true 3 true 4.true.
        Now if i may ask why did they do this - did they overexagerate, miscommunicate, or have unexpected delays- does'nt matter The early PR lacked Credibility
        Point #2 answer true or false
        1 didn't they say at the last conference they had enough cash to get them through early 2014
        2 within 10 weeks of that conference call didn't they get a big loan from GE capital and massively dilute the stock
        3 did they do thing like that when Engle was Ceo?
        look up the old conference calls the answers are 1.true 2. true 3. true.
        I'm not questioning the reasons for these actions- may be good business decisions. What I am saying is that they lack CREDIBILITY.Most would agree- FWIWi if it does go to $2.75-2.85 I'll probably buy back in Have a good day Xoma long on hype short on delivery
        One more thing: do you know any dermatologist or rheumatologist? ask them how many cases of neutrophillic dermatoses they see in a year
        just opinion

 
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