We longs have seen a number of setbacks with SPPI over the years. This is just the latest. Times like this are why it is so important to do your DD. Raj screwed this one up big time, but I still have total faith in SPPI's longer term prospects. I will hold all my shares. NO fear here.
I expect this post to get buried within an hour and will post very infrequently while the board is in turmoil. But I am here to stay. Still smiling, with a little winching thrown in.
I agree with rvfirst... It's good to hear from you Tar-- and that you're still here! Sooo good to see Ouch, Thoughtful, Sherry and rvfirst... I too am here and waiting...
Good to to hear from you Tar. It seems there should be a lot of short-covering now, as this is the opportunity shorts have been waiting for. Once this is done, it should be forward-looking I think. There has been too much emphasis on Fusilev and too little emphasis on pipeline. Hopefully that changes.
Tartiaboy, Nohype, Ouch,
can you guys enlighten me? It seems to me that Renazorb can (a) be tested very quickly and (b) addresses a very large market. It seems to me that this one can make it to an NDA filing very quickly. Can you shed any light of what the time line and market size would be?
Rv, I am not very familiar with Renazorb. It doesn't even seem to fit into the SPPI pipeline of oncology drugs. I always assumed they would sell that one off someday and not bother to take it to the finish line....
As for that AF piece you mentioned(which I read), from what I gandered, it seems like the channel got over-stuffed. It seems like it currently needs to be worked down before new ordering takes place and they have no idea when it might be over. The good news is it seems like a very temporary issue, the bad news is the lack of visibility as to when it officially ends.
IF I wasn't so already over-weighted here, I would back up the truck at these levels...You have: FOL doing well, ZEV doing better and FUS with what appears to be perhaps a temporary issue that should resolve itself sometime later on...There has been a gross over-reaction in the stock price today....
It does get a little old, but I sure was amazed at the re-entry point. I read the other day that FDA drug approvals for 2012 were up, but what was telling was that the total was only 39. Given all the biotechs out there, it makes a lot of sense that there isn't much present value placed on future FDA approvals. The mathematical odds of any approval are very poor. That brings into play the quality of the company and its leadership and the details of the particular drug being tested along with its market potential Now for SPPI, add the fact that Raj is not the poster boy for candor or credibility and it is a bit easier to understand this over reaction. I am quite confident that I will not lose any money at this entry price.
As per Credit Suisse conference call (as relayed by the AF article), Fusilev sales should stabilize around $150 million on an annualized basis. AF actually gives a good analysis of what's happening.
Assuming $150 million in SUSTAINABLE Fusilev sales and $80 million from the other products, that's $240 million per year in sales. That gives an estimated market cap of $920 million. Divide that by 60 million shares and we're back at around $15 per share a year from now.
This is traumatic - but it gets rid of uncertainty and doubt regarding the sustainability of sales.
$240 million in sales is enough to finance the pipeline.
WHY ARE THE REST OF US NOT GETTING THE SAME INFORMATION FROM THE COMPANY AS CREDIT SUISSE. ARE THEY "MORE EQUAL" THAN THE REST OF US?!
The longs just keep adding......what a wonderful opportunity once again! Can't believe it!!! WOW, all this news sure helped SGNT.....they've traded a whopping 16,000 or so shares today (*~*)
Must be time for a nap..................
Sentiment: Strong Buy