how do you think somebody want to jump on board with a spread of 20% bid vs. ask.
can't somebody to something against that?
BRAF might be big, so if there's another small drop at least in the ask, then I buy some more.
wondering if nobody from Roche or GSK or MerckSerono Level_3 mgmt might want to do the jump for CEO here....
did you see this from SA the other day?
Response Genetics (RGDX), PPS $1.70, $33m market cap: Response Genetics is focused on the development and sale of molecular diagnostic tests for cancer. RGI’s technologies enable extraction and analysis of genetic information from genes derived from tumor samples stored as formalin-fixed and paraffin-embedded specimens. In addition to diagnostic testing services, the Company generates revenue from the sales of its proprietary analytical pharmacogenomic testing services of clinical trial specimens to the pharmaceutical industry. The company expanded its sales force by adding seven sales people during the third quarter to meet expected demand. One analyst follows RGDX with a $3.50 price target.
bio all this shows me is Linkin sites for various people in sales positions...and even if true that they are seeing some turnover...I have found that changing talent is often times better than what was there originally!
At my old shop at Bayer during our growth phase in the late 80's.. Horst Wallrabe our President and CEO of Bayer USA was fond of saying 5 years w/o promo and you are basically expendable/replaceable!The Germans called it "w(v)eeding the garden".....
lets be clear about one thing as brilliant as KD was in the lab/research....she was a poor executive/marketer imo...and she used the funds of this co. as her own personal ATM when she was pulling down $400K per year plus options and benes...U may remember the clothing, personal items, facials, manicures all on the co. dime until she was exposed!
KD took "DRESSED FOR SUCCESS" to an all time new level!It was after that scandal that I became interested in RGDX!
that's CEO greed of the first order/ and unacceptable, paid back only after she was called on the Carpet.... and I hope the new CEO will be aware of that past and protect against it when he/she takes over the reigns.
No CEO is the biggest problem at RGDX but that will not last forever and I expect the ship to right again w/ a competent leader who knows how to market the Dx tests as well as the stock/the company, and raise awareness in the financial community where its an unknown now!
In the meantime I have raised my stake in this co substantially on recent weakness, after culling my position on strength a few months ago at $3+/share!
Maybe RGDX gets a new CEO superior to KD and a few of those Top people come over and infuse new blood here too....regardless this is a GROWTH co. and its being trashed w/ everything else in the Marketplace...its MC=$30.77M which is about a 1x multiple of 2011 sales revs when it should be a 3-5x multiple at it current growth rate....
RGX needs a CEO that is a veteran of the clinical reference laboratory business not a pharmaceutical manager. There are major issues on the horizon that need addressing such as;
"Palmetto to Launch Program for MDx Coverage, Reimbursement
In a move that could set the standard for Medicare contractors throughout the country, Palmetto GB, the local contractor for California and six other states, is planning to launch an extensive program in spring 2012 to establish coverage and pricing for molecular diagnostic tests.
Palmetto, one of about a dozen Medicare contractors nationwide, is the first to tackle the thorny issue of how to deal with payment for molecular diagnostic tests (MDx) in the absence of specific federal policies. Currently, MDx tests are paid through “code stacking.” Palmetto signaled its intent to address the issue in October with the announcement of two local coverage decisions that restrict payment on genomic tests not previously reviewed and specifically approved by Palmetto policy staff. These policies will take effect in February 2012.
In March 2012, Palmetto will launch a new umbrella program for handling the review, coding, and pricing of new genomic tests under a program it calls “MOLDX.” According to Bruce Quinn, M.D., Ph.D., senior health policy specialist with Foley Hoag LLP and a former regional Medicare medical director for the California Part B program, “the program is likely one of the most distinctive strategic policy programs proposed by a Medicare contractor in the forty-five year history of the program.”
Palmetto manages Medicare for California, Nevada, Hawaii, North Carolina, South Carolina, West Virginia, and Virginia.
Thanks. The reference for mdxwatch's post is: http://www.g2intelligence.com/article/ART875631T?C=qbahoLTLltcpb88I
In this area of the United States molecular diagnostic tests will need a new code, a "Z" code, for payment. Application for codes will begin Monday. RGDX will be busy. In January allowed codes will be released.