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Sarepta Therapeutics, Inc. Message Board

  • sensestable sensestable Nov 8, 2006 9:37 AM Flag

    All the bad news out of the way

    The government monies of $11 million should be received in the fourth quarter, so the next earnings report should be very upbeat.
    Additionally, we should be hearing about the BARDA allocations this month, along with further government allocations.
    Don't count out good news on DMD very soon!

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    • No problem with Democrates effecting the price of AVII drugs is there? Lets HOPE someday AVII can have a drug we can bitch about to be controlled on price. With current managment and patents laws it would be a very very long time.


    • ... not yet ..

      Drug stocks slammed for second day

      By Val Brickates Kennedy, MarketWatch
      Last Update: 4:30 PM ET Nov 9, 2006

      BOSTON (MarketWatch) - Drug stocks fell Thursday, closing in negative territory for the second straight day on investor concerns that the return of Congressional control to the Democratic Party may result in more government intervention in the pricing of drugs for its Medicare program.

      The Dow Jones Wilshire Pharmaceutical Index lost 2.8% to end at 2309.16 and the Dow Jones Wilshire Biotechnology Index gave back 2.2% to finish the session at 3226.10.
      Shares of U.S. large-cap drugmakers took significant hits: stock got off easiest, posting a drop of less than 1%.
      Shares of several of the major European pharmaceutical firms also felt the chill, particularly those of GlaxoSmithKline PLC, AstraZeneca PLC, Novartis AG.

      Isis Pharmaceuticals, however, was able to break from the downward trend, with its shares rallying nearly 11% to finish at $10.19. Analysts at Cowen & Co. initiated coverage of the stock with an outperform rating.

    • I am not saying anything should be added to or taken away from Timmons' alleged statement regarding the $44 million.

      I am simply pointing out that this company is on the accrual basis of accounting which states, basically, that revenues are to be realized when invoiced. Expenses can be realized depending on how a given concern accounts for work in process. Such being the case I also pointed out the effect this would have had on earnings, had this work been billed in the quarter just ended, rather than the quarter just begun.

      Let's remember that this discussion is the result of a post that stated IR had stated the work had been billed. Now, if we can regard the $44 million as an official number, then it would seem the company has come into some cash since 9/30, based on cash in hand of ~$38 million at quarter end. Is the $11 million or some portion thereof that source of funds? I have no idea.

      If that IS the case, however, then the management's official comments to the 3rd quarter financials could only be regarded as misleading - if scope was still being argued about as of 9/30 then how did the company move from a scope disagreement to billed and collected work in process so quickly? Billed is perhaps believeable, but anyone that believes the government pays that quick is naive in the extreme.

      Only time will tell.

    • I think you've got it, Ramrod!

    • Or did the company bill for the work shortly after the 3rd quarter closed?

      As I'm sure our little publicly-traded biotech is NOT accounting for operations on the cash basis, if the work had been billed it MUST be reported as revenue for the period. Collected or not.

      I still think management is trying to black-cloud us to death, and I suspect T held this invoice back to avoid reporting it in 3rd quarter revenue. Importantly, had he reported this revenue in the 3rd quarter, the company would have swung to a profit of $4.2 million or 8 cents per share. I am sure he is realizing expenses related to these contracts as he goes, so the $11 million would drop all the way to the bottom line.

      Management reported $1 million in stock related employment expenses for the quarter. I hope the fine employees of our company are the ones benefitting from our cheap share price.

    • Sense,

      What information that you have leads you to believe that the monies will be received in the 4th quarter, when the publically stated facts are that the "scope of work" is yet yet to be defined. After the scope is defined, then those milestones need to be met, then payment can be received. 4th quarter 2006 would be a miracle.



      BOSTON (MarketWatch) -- Exchange-traded funds tracking the health-care and pharmaceutical sectors were the biggest decliners among ETFs Wednesday following Democrats' gains in Congress and a report that Merck & Co. is facing a $5.6 billion liability in connection with tax disputes in the U.S. and Canada. In afternoon dealings, Pharmaceutical HOLDRS fell 2% to $76.91, Health Care Select Sector SPDR slipped 1.9% to $33.09 and iShares Dow Jones U.S. Health Care was down 1.9% at $50.17

    • Glaxo.. Hmmmmm...... couuuld it beeeeeeee?

    • HAH!!! You're the biggest joker of the century. "All bad news out?" Not by a long shot. Last I heard the hillbilly menacing twins were still running the show in Portland.

    • Didn't you say all the bad news was out of the way on the last Hep C PR results.

      And your "very soon" has been going on for at least the last 3 months.

      But I'm sure you'll post bright and early on Monday that this is the week for positive news.

      Give it a rest already.

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