If history serves itself here, I expect a big news release at market close. Last time there was five day rally with "no news" and lots of volume, was right before they released the terms of selling their royalty payments on 450. They released the terms right after market close on Friday August 5. It seems to be a familiar pattern here where someone with IGXT can't keep a secret on news.
If you are correct, this should be a big catalyst moving forward. The selling on good news will stop, and a rising stock usually draws interest!
This is where CEO Horst has let the investors down! Without any prompting, (in Aug/Sept), CEO Horst proclaimed that IGXT would have one (if not two) commercials agreeements in place before the year end of 2015 in Europe. I know a lot of people have insulted CEO Horst's handling of the company, but this is one instance where it is merited. It is beyond me why he would make such an unprompted statement without being 100% sure he could follow up on it. It was a horrible mistake to make what has proven to be a false statement, a statement which investors have used to make financial judgements upon. There is no excuse for a CEO to put himself, and his company in such a position. To date, he has failed to address this false statement, and this can only hurt the company's reputation with the investing community. Thus, in my opinion, with all these positive developement in the pipeline, IGXT will continue to be a penny-stock swirling on the OTC exchange. Because investors now have reason to question any aspect of the "pipeline" developments that have not come to fruition. Until one of the pipeline developments starts actually producing revenue, we will continue to laungish in the .50/share range. You can't trust the CEO.
I could be considered a "Basher" since I repeatedly pointed out that CEO Horst didn't keep his word about the future commercialization partners by EY 2015. But my take on the "Engagement" of Mr. Nawacki is positive. Nawacki was not hired as an "employee" of IGXT. He was hired as an "advisor", or as a consultant. If one looks at Nawacki's recent history, he was in the middle of the Endo's purchase of Paladin Labs. Endo also purchased IGXT's partner PAR Pharmaceuticals. So what better can Nawacki consult/advise the IGXT team of than getting favorable terms out of buyout. I doubt he was hired to "consult" the executive team on marketing, sales, R&D, or factory buildouts.....
What better gig in the world is there to have than to keep your real job, but also get paid on the side to "advise".
Mark Nawacki was hired as an advisor? An advisor for what?
"the company's value increased from $75 million to over $3 billion when it was acquired by Endo International in 2014."
Endo also purchased Par Pharmaceuticals. IGXT already has a couple partnerships with Par Pharmaceuticals.
"Mr. Nawacki helped shape the therapeutic focus of Paladin's Canadian business via licensing and acquisitions."
The main acquisition being Endo/Par purchasing his former company.
"Mark Nawacki as a Special Advisor to the Executive team."
Exactly what is the advice he can lend our excutive team? In my mind, he was hired to give advice on how to best squeeze a price out of Endo/Par for the acquisition of IGXT.
An unprompted Horst states that he will have one (if not two) commercial agreements by YE 2015. Why did he do this? It only proved that his leadership is at best, incompetent. People don't invest in companies where their CEOs make false statements. It is now a proven FACT that an investor can't trust what the CEO of IGXT states. Thus the 23% price drop since the new year. Just my opinion of course.
Realstats, I'll quote your reply,
"3. (2) Two new partnerships by eoy 2015, business takes time. I don't recall
Horst telling us we had a "drop-dead" timeline to accomplish and sign agreements,
-do you fear these pending deals are now dead? Rest easy, there "alive".
That is my issue! No one asked Horst for any of this information. He volunteered the information, gave out his own timeline, and didn't deliver. He said one partnership by eoy 2015, and a strong possibility for two. Why would he volunteer this? What were his motives and why couldn't he delive? I don't know too many other CEOs who make unpressured proclamations about their company's future, and then don't even deliver. Investors rely on information given to them from corporate heads. IGXT's information has now been tainted.
Do you have inside information to be able to say "rest easy, there alive"? I ask this now because I can state that information offered/volunteered by this company has been proven to be unreliable. Since the company hasn't given out any more guidance on this issue, where are you getting your guidance?
Why don't you ask Edward if Horst will be able to follow through on his proclamation, with an announcement of the completion of a "commercial" agreement by year end.
The year is coming to close. Back in the late summer/early fall, CEO Horst stated that IGXT would have one (if not two) commercialization deals done by the year end. He didn't say they in the process working on deals, he said they would have one (if not two) finished. This is something that he needs to be held accountable for if he doesn't deliver, and should be a red-flag for anyone investing in his company. You don't make public comments that investors rely on and then not deliver.
Oppup, I don't think he has ever put a time-line for such events in the past. He actually stated that one deal (if not two) would be finalized by year end. If this doesn't happen, then he stands to lose all credibility with the investing public. Or at least with me.
I'm hoping for the same Christmas gift! I'll be very disappointed if we get a lump of Coal. Horst should never have made that statement as he did if he can't deliver. I'm pretty sure he said one deal would be announced before year end. He could easily had said they were in the process of working with companies on trying to procur a commercial agreement.
It makes a huge difference. People make investment decisions based on statements that CEOs make. He easily could have said they were still working on trying to establish a "commercial agreement".
Genedr, thanks for the reply. IMO, a well timed partnership announcement could be a huge catalyst for this stock!
When Horst states that term sheets are done, and partnerships will be announced shortly, what does he mean by "shortly"? It was the beginning of October when he said the same thing on the interview that was available on the website. If the details have already been hammered out in the term sheets, it should just be a matter of puttting together a contract. I would think these contracts are boilerplated, copy and paste documents. Obvoiously the attorneys need to go over the contract language, but how many weeks would be considered shortly? I'm indifferent either way,since I'm a confessed Long-term holder, but was just excited and curious for last few weeks and wanted the news to be broken with the quarterly report. That was my only "negative" takeaway from the reports, if you want to call it negative.
He also said that they will be $2 million EBIDTA 2015 and working on upgrading to a new trading platform.