If not, we may see not a drop, but a plunge to new lows. Talk means nothing, no questions were asked, and the shorts will go crazy if no great news follows, and it better be fast. Give me all the negative replies you want, but if the news for the next 30 days was a conference call with no questions, look for a 52 week low. The game of hope without news will soon end very fast and a RS does not happen with a 4 cent or even a 20 cent stock
Keep, you continue to expect ground breaking news during these conference calls. It rarely works that way. These calls are scheduled around quarterly earnings releases - unless the big new cooperates with that schedule it ain't gonna happen. Likewise, there are much better ways to make a big splash with news then a CC.
While this call seemed like more of the same to anyone who has been following the company, they did show continued progress toward meeting their goals. As I mentioned in another note, I found the discussion around the RS interesting - based on where things sit today, you'd have to be pretty confident in some things coming together to execute an RS by the end of September.
A basher would not find the CC encouraging, longs heard some things to like. Even Esekla from SA thought it was a good CC and he has written several critical articles about ACT in the last several months.
SA article today,
The call contained three new pieces of information:
1.The most immediately important was news of DSMB (data safety monitoring board) approval for the final cohort of patients in the company's Phase I trials. This was one of the 7 steps I outlined for Advanced Cell Technology to rebuild shareholder value and trust. It represents official approval, rather than news from the company, and discussions with regulators on both sides of the Atlantic are now complete. This is the strongest sign yet that ACT's plans to enter Phase II by the end of the year are on track.
2.Discussion of new proprietary processing technology from ACT that will increase the shelf life of generated cells, thus greatly enhancing marketability. While details are still sparse, I would not be surprised if such a method had applicability far beyond ophthalmology and the current treatments.
3.Announcement that ACT has been granted a patent on the company's single blastomere technology last week. This is of value and marks a nice contrast from my first ACTC article.
While some may have been looking for more ground-breaking news, this call was a good one, as I predicted. ACT continues to take the necessary steps, and the upcoming publication should be a major event for the company and shareholders.