That was just churning by day traders/bottom feeders. They play news on small biotechs like this all the time. Completely unrelated.
Sentiment: Strong Sell
Those shares will hit the market as soon as they can get them out there Bird. In fact they said in that if and when more are available they will refile for those too. Read the filing and watch the 10Qs going forward.
Sentiment: Strong Sell
RCMP - Got it. So I'm not just stupid. Good to know.
Fill/Finish was 100% bad luck unless there was a massive collusion to defraud with several biotechs. That company screwed up a lot of trials. I think however there is a good possibility the initial results were cherry picked which explains the odd final Phase II results - Some great some not at all. Hard pressed to believe it was just a coincidence. Best foot forward so to speak.
I don't necessarily fault them for that but everything they have done since has been (from a shareholder perspective anyway) the worst possible move you could make and there I think they have been less than genuine. When they released the results to the doctors before us, that was the final straw for me and I lost all confidence in them and made that clear directly to Gary. Unlike our buddy Left_e_noise BTW. While there is always a possibility (just like the trial results) they are all not just simply not that bright, I doubt that is the case and more likely they are just doing whatever is best for them. Again as I said, they have no skin in the game so they have no reason to be focused on shareholder value. By mistake or by design? Who knows. Right now I'm holding a finger in the air pointed directly west. Can you guess which one? Phooey on me I guess.
Would love to take these guys to task to find out what's behind the curtain there but these cases are a dime a dozen and I'm guessing they've got everything wrapped up in a nice pretty bow anyway. The redomicile and "extra" protection for the board at our expense was definitely an interesting twist/poor use of shareholder funds. The only real way to do that thought is having the vote and so far from what I've seen we don't.
Who in in their right mind would have voted for a second reverse split given the circumstances? Only an insider/sympathizer. SOL
Sentiment: Strong Sell
BTW, anyone doing the math here? The stock is worth about $0.02 pre double reverse splits and there are about a quarter of a million shares issued not including warrants and options. How many were there when we started this fiasco? Sad...
Sentiment: Strong Buy
I'm actually out. Have been for a while now. I just get alerts that pop up now and then that I've been too lazy to turn off.
BK? Doubt it. My guess is they are quietly run this thing down and in a final capitulation will transfer the whole company (with placeholders for themselves of course) out from under the retail shareholders for pennies and start anew. Those results simply make no sense across the board. Fishy smell. None of them own much stock either so there is definitely zero incentive for them to make this work in it's current form. I can't imagine any other reason to maintain a basically worthless listing. Sabby and the rest are bottom feeders so I can't imagine anything good for retail holders coming from their ownership here.
This whole thing seems more and more like a ruse to me. Guess I should have listened to you much earlier. Still never deciphered the RCMP reference BTW.
I will be looking for the twist of the screw once the well runs dry. The money they are raising isn't enough do anything other than keep the lights on and cover their Mercedes payments. They are buying time and getting what they can If you ask me.
Sentiment: Strong Sell
This is what you get when you give questionable management with an even more questionable track record (and no skin in the game) a blank check. Congratulations on your second reverse split by the way! Through your determined efforts, the dilution printing press is back up and operating at full steam.
The downward spiral accelerates under the noses of but clearly unbeknownst to the masses. Welcome to the good ol US of A where as long as you do it with a smile, nothing is beyond the law.
Released last Friday while everyone was sleeping:
"Through the date hereof, we have sold shares of our common stock through MLV under the Original Sales Agreement for an aggregate purchase price of $5,780,262. We are filing this Prospectus Supplement to amend the Original Prospectus Supplement to update the amount of shares we are eligible to sell under General Instruction I.B.6. As a result of these limitations and the current public float of our common stock, and in accordance with the terms of the Sales Agreements, we may offer and sell additional shares of our common stock having an aggregate offering price of up to $1,436,881 from time to time through MLV and FBR. If our public float increases such that we may sell additional amounts under the Sales Agreements and the Registration Statement and Prospectus of which this Prospectus Supplement and the Original Prospectus Supplement are a part, we will file another prospectus supplement prior to making additional sales."
You guys should check the SEC filings regularly. www . sec . gov
Sentiment: Strong Sell
NASDAQ listing has no value unless you are raising capital. Increases "potential" investor pool. Given their financial situation and history I would say that is even less so in Lpath's case. Management is just trying to keep the printing press going in my opinion - Futile or not.
Passing through. Another reverse split? Yikes! For what? If you have all these companies interested in your pipeline, wouldn't you do a deal vs trying to raise capital via a decimated stock? Hmmm. Talk about a management team that apparently doesn't get it. I'll be shocked if after they waste all that money again doing the reverse split, anyone other than insiders are willing to give them more (desperate) money based on the history here. And what exactly are they changing in certificate of incorporation? "At the boards discretion?" Double yikes!
Sorry for everyone here. A seven for one and now a likely 20 for one. How much dilution will this translate into now with all the options/warrants/ATM & grants (not to mention all those yet to be issued after the coming reverse split and with all the required true-ups in the outstanding warrants that have been and still have to be made)? Forgot about those right? Good grief.
There's no way I'd vote for a reverse split here - Especially the way it's worded:
"To approve a series of alternate amendments to our amended and restated certificate of incorporation, to effect, at the discretion of the Board of Directors, a reverse stock split of the Company’s common stock, whereby each outstanding 5 through 20 shares would be combined, converted and changed into one share of common stock, respectively (the “Reverse Stock Split Proposal”)."
Umm yeah, no thanks. Good luck to you guys once again.
Shaking my head in disbelief. What a disaster of an investment. Everything that could go wrong did. Tough lesson to learn no doubt.
Sentiment: Strong Sell
Absent some major announcement related to Lpathomab, my prediction is this company is done in six to twelve months. More than six months of looking for a partner for ASONEP with no announcement doesn't bode well for an even less than "less than stellar" iSONEP. Even then they have zero leverage unless there is a bidding war which is extremely unlikely in my opinion.
My last post. This is now a write-off. Good luck to those of you here who choose to continue to have your hand bitten by these guys. As I said before - Toxic management = toxic investment regardless and this is definitely a toxic investment for me. Lesson learned - Don't believe the hype. Bye.
Appears your sources have some validity after all although it still seems questionable to me whether there is enough meat there for anyone to take on the cost of extending this study. The big question we still don't have unless it was passed verbally at the conference is "Why?".
Once again kudos to the company for leaving it's investors out of the loop. If there was any information of value passed verbally at the conference, clearly the doctors (if so inclined) now have an advantage over the shareholders.
Actually the only reason I have not posted them is because you are here. I have however made them available to everyone who has asked for them offline. Enjoy your arm chair there QB.
They will be discussing "the" additional findings given to the conference attendees before their shareholders. I wouldn't expect much if anything beyond that.
I was given some of those findings a while back anecdotally by the way. If they don't have a "why" for each of them then there will be zero value from the call - Just a new list of questions like I currently have. That is my expectation.
Straight from the 10Q. Make sure you read that last sentence:
On May 20, 2015, Lpath announced that its Phase 2 “Nexus” clinical trial evaluating iSONEP™ in patients with wet age-related macular degeneration (wet AMD) did not meet its primary or key secondary endpoints. Wet AMD patients who had not responded adequately to existing anti-vascular endothelial growth factor (VEGF) therapies including Lucentis®, Avastin® and Eylea® did not show any statistically significant improvement in visual acuity when treated with iSONEP as an adjunctive or monotherapy. On August 9, 2015, Pfizer’s option to obtain worldwide rights to iSONEP expired, unexercised, which resulted in the termination of the Pfizer Agreement. Consequently, all rights that Pfizer held in the iSONEP program have reverted to Lpath. Lpath has no plans for further development of iSONEP.
Sorry, correction. I am no longer a hold. Good luck to anyone continuing with this company. Three leadership changes and zero improvement. I think any attempt to procure additional capital will be met with terms that would be toxic to retail investors now regardless. Not for me. GLTA
So the doctors get the benefit of the information first (six months later if you can call that first) and the people who put their money and confidence into the company and management have to wait their turn. Wow. These guys never cease to amaze me.
The problem they have right now is they are not in a position with any leverage in negotiations unless there were a unforeseen bidding war which is extremely unlikely in my opinion. I still say the best of the best we could possibly hope for is another Pfizer deal - likely with more contingencies and a lot less money.
I think Gary's promotion was a smart move. Save money and he knows where everything is plus there probably isn't that much to do from a administrative point of view right now anyway. More importantly I hope with his promotion (based on our conversations), the company will be a little more forthcoming with information. Yet to be seen obviously.
Just heard back from Lpath. Where they were telling me they hoped to have something for us this month, they are now saying November at best as predicted here and by others earlier. I strongly encouraged them to make a public announcement on the status sooner and while I doubt it will ultimately go anywhere, I did ask it be escalated to the board. For anyone here so inclined (response aside) now is the time to make your concerns known and send similar e-mails to the company to try to push this forward.
Say the same thing to you - If you have any proof of any of these misdeeds by the company, please e-mail them to me.
You have proof these guys are up to no good, e-mail it to me here. I would be very interested to see what you have.