At this stage the only news people want to hear is that the drug is partnered and revenue will soon begin to flow.
But, instead, at 12:01 AM EST, EPCT will release a PR that will contain a bunch of nonsense that no one will care about.
We will see language something along the lines of:
"as we continue to rigorously advance our partnering discussions . . ."
"we are actively pursuing . . ."
"as our selection process continues . . ."
"we are actively reviewing . . ."
"we hope to conclude these discussions in [insert vague arbitrary timeframe here]"
etc etc etc bla bla bla
Then, tomorrow, the PPS drops to 0.40.
"We are seeking to finalize negotiations and to launch Ceplene® commercially as quickly as possible."
"EpiCept is in advanced negotiations with prospective partners to license European marketing rights to Ceplene"
So I wasnt too far off with my guess: "we hope to conclude these discussions in [insert vague arbitrary timeframe here]"
I would have never guessed, however, that the vague arbitrary time would be quite so vague as to actually word it as "as quickly as possible"!
We close tomorrow at 0.45.
Here some more of Talley's hot air statements in this document
... "initiated" partnership "dialogues" ...
... are "ready to seek" a strategic partner to help finance Phase III (NP-1)...
.... Epicept "plans to offer" .. ASAP technology for sale or partnering ...
"At this stage the only news people want to hear is that the drug is partnered and revenue will soon begin to flow."
Have ever read news about a deal in a Q-report? A report about past times?
I suppose you will have your 3 raters giving you some stars. In Sweden small children get that when the visit the dentist.
You do not know anything about the negotiations, but still you have a very unsensitive approach about what is right and wrong.
Is it because you want Epicept to make a deal whatever the content it may have? That is not in the interest of our CO and share price, as I see it. Acctually, the opposite.
The only experience which I have with this so-called CEO: A talker, not trustworthy and someone who even can not spell the word result.
Savage's so-called compensation committee prepared the next cheap options action, now advertised under a hot air headline "performance". The simple game of these self-service boys: "rewards for failure"'. Next step will be board options, and so on...
Meeting of stockholders is "expected
" to take place in June 2009. No doubt if this waste is cleared out the share price will explode north
I have seen these situations before. The problem boils down to loss of faith such that even if there is some positive development, the investors head for the door at any opportunity which takes the wind out of any good news and suppresses the share price.
In EPCT, you have a lengthy history of dilutions, delays, and sweetheart back scratching option grants in spite of a failure to achieve meaningful results. That's a toxic history that investors are not soon to forget.
Looking at the CEO's bio, you have a no name guy with a lot of no name micro-crap bio experience pulling down 2 million bucks a year for nothing. Who's going to put serious money behind a guy with that resume and a BS degree who "completed coursework towards a MBA"? What kind of confidence does that instill? A guy who can't tough it out long enough to finish a degree?
I'm holding a tiny position, but I'm not optimistic, and unfortunately even a decent partner deal won't move this stock, the only fix is a management change.