You are right on outstanding shares. When I owned exel, they were a little over 100M shares oustanding. Recently there were 12mill shares offered. I too am curious as to how their outstanding shares increased abruptly. It was my main reason for dumping EXEL. Getting into their balance sheets, their income decreased for the past 3 years. Just recently there were two issuance of shares. My math tells me exel should have 122Million OS. Something doesn't add up here. I have seen too many upcoming companies raised cash at the shareholders expense and got nowhere. I know that EXEL is an upcoming Company, there are many trials ahead and many millions more in cash would be needed.
It is my believe that EXEL is overvalued based on OS and will continue to dilute towards capturing the Cancer arena. There are also many others who may reach their goals ahead of EXEL. Two dilution in the past year and they are nowhere close to FDA approvals, These are my reasons for dumping EXEL.
No disrespect to you Mr Joeyflow. I have owned exel for a few years now. I originally bought EXEL @ $2.99. I purchased and added during the last years. I have no animosity against Cancer developement companies. I do have issues with Capital and Management. If you remembered that BMY returned XL184 a couple years back. There were reasons. I admire exel to take XL184 foreward. Yes I dumped the majority of my holdings due to failure for any partnership , because it would cost shareholders dearly if going alone. It is very expensive to complete the many trials that exel exhibits today. I am for exel in the longer term, not ready to being an Investor at the mercy of dilution. If you have a bit of rationality, you would understand that each drug that reached approvals cost appromixately $800K, think about how many Exel has concurrently. This may help with your hostility.
I originally owned 30K of exel shares, I dumped 22K in Jan. I still own 8K and will hold on until is see progress. I like what exel have, and never put this company down, reality mustset in that Investors will and must endure markets ups and down. For me, I am not willing to take this ride until I see progress.
I am Fred, I am not anyone else but myself. I speak for myself. I do not entertain Bashers nor Pumpers. I do trust my tiny bit of intelligence.
Wilder, understandly, many Companies have asked shareholders for increasing their number of shares citing the same thing as preventing a hostile takeover. I am all for exel to be a winner. I have suspiscious reservations regarding any Company who have issued shares 2 times in a year and being far off from FDA approvals while many trials are pending . Priority lies with going it alone, for EXEL, thus diluting shares for future trials. Remember EXEL was a darling when it had revenues coming it, it helped offset cost of trials. Today priority lies with exel cash balance to complete their trials . At this rate of Issuance of shares, exel may have over 200M -300M OS before even being considered for FDA acceptance for approvals. Many more times of diluting if EXEL doesn't get a partnership going. PPS will suffer, unless Insiders hold all those new Issuance. Good luck, will be watching, short interest are not making it any better.
Thanks for the input, Fred. I'm gathering advice where I can find it, and I appreciate your efforts.
The short interest has been a pain - of course - but further dilution could prove too much to care to witness. I'm sure this vote will be carefully watched, as will be the near-term burn rate between now & the annual meeting. GL