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OncoGenex Pharmaceuticals, Inc. Message Board

  • ipayyouforyourpicks ipayyouforyourpicks Jan 29, 2010 11:24 AM Flag

    President/CEO Insider Activity on 1/28

    Hard to read. On the bottom there is a (D) for disposed but the line above an (A) for acquired. I think it was a sell but regardless, I've seen insiders wrong on buys and wrong on sells, and I don't think it will impact the share price.

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    • Should have said 2008.

    • I know QLT and their litigation with MGH.

      I invested in CRME in 2007 in hope FDA would approve V IV. Made money - glad I sold before FDA decision, but very disappointed with CRME management. They have a really good drug though, but the management was too inexperienced with FDA process, promised too much on things they couldn't have control over.

      Canadian biotechs have very interesting drugs.

    • Actually when it comes to cash on hand, ogxi had around 13 million by 9/09. Assuming a burn of around 3 million for the last few months excluding the cash from the Teva deal ogxi likely has about 9-10 million. From Teva 10 of the 30 million upfront (10 in stock + 20 in cash) goes to ISIS. So as of right now OGXI has about 30 million in cash. The other 30 million OGXI received is reserved for the 011 trials. So to summarize OGXI has about 30 million in cash to spend on the pipeline excluding 0gx-011 which should be enough for about 6-8 more quarters.

      Clearly the market has assigned very little value to 011. OGXI has the the right to co-promote in the US and Canada so thats 50% of sales.

      The low float is a detriment right now. There seems to be very little day trading as a result of the low volume and most of the trading appears to be devoted to selling of shares and there is no support at all. Of course when there is good news the share price will likely go up at the same rate it went down.

    • That is a good observation. Oftentimes when fear and dissapointment it high....when investor give way to capitulation...this is a time to accummulate shares....provided its a quality "play".

      Even after this wicked share price still marvel over how much OGXI has accomplished with so little dilution. Find another biotech that is this far advanced in its clinical trial development and only has 6.5 million shares fully diluted.

      Dr. K is right imo...OGXI and Gleave are masters at pulling down grants and other no-dulitive funding sources. This latest trial to be launched in the summer (i.e. OGX-427 in CRPC) is with grant funding. And by the way....they must see something special in the data to pursue a monotherapy strategy for this indicatiion.

      Also, another example...many investors probably are not aware is that Sanofi provided OGXI some funding for OGX-011.

      The point is thus group of scientiest and biotech professiional, along with the affiliated organizatioins they collaborate with (i.e. Vancouver Cancer Center) are exceptionally efficient with their dollars. And if one studies the science behind their is a real peach of an opportunity...particularly given the benign safety profile and durable efficacy thus far demonstrated for OGX-011. And OGX-427 may very well follow in its footsteps if the preclinical data and Phase I data is predictive.

      I don't no if anyone else has done an analysis on this, but the last time i looked at their cash position since the partnering deal...OGXI had about 45 million in cash with flexibility in how its spent. And importantly, all of the Phase III clinical trials costs are being covered by Teva.

    • Dr. K, I think the only reason for the personal attacks on management is that the stock has been going down. You see it on every Yahoo board. Here you have a company that a year ago had a stock price of $3 and that had no money to proceed with any of its clinical trials, but now is priced a lot higher and has funding for not only 3 P3 trials but probably several P2 trials (for OGX-427) as well, and management accomplished all that with practically no dilution. And no one in management has ever sold a share! How many biotech managements have a track record like that? Yet many people will continue to bash them as long as the stock declines.

      What scares me is that I think people vote more or less the same way. If the economy is good, they'll re-elect a complete nincompoop. If it's bad, they'll kick out even the most well-intentioned and competent politician.

      So the problem is people. Hopefully that won't occur to Dr. Gleave, or he might stop trying to find ways to make them live longer.

    • He exercised options to buy 7,077 shares at 3.89 for total price of 27, 522. Based on insider reports the CEO has not sold a share even when it was at 42.99

      Here is a link

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