And when I read the board from time to time I'm sure there's a lot of people who are fed up with CXM's apparent inability to consistently execute, and with their overall lack of communication; the situation has always made worse because the CEO gives the impression that he really doesn't know nor care how to actually make money.
CXM hasn't demonstrated an ability to translate plans into money in the last few years.
And to top it off, there's never been any real analyst coverage to fill in the communication gaps, so any news always is traded with a negative bias.
As they say though, nothing lasts forever, and it looks like an end to Cardium Therapeutics' misery is finally here. Yes, you have to look closely at the chart to see these clues, but they're there, and they're potent... almost.
On the daily chart of CXM, the fact that the bulls have drawn a line in the sand at $0.68 is a big deal, particularly since that floor has turned into a pushoff point for the current cross above the 20-day moving average line (blue) and the 50-day moving average line (purple), and as of today, even an effort to work its way above the 100-day moving average line (gray). Point being, we're seeing things that favor Cardium Therapeutics Inc. that we haven't seen in months... if not years.
It's not just the daily chart that's showing a bullish paradigm shift is underway for CXM, however. In fact, the weekly chart offers another huge clue that things are quite bullish for the stock. See the volume bars on the bottom half of the chart below. The green bars indicate bullish volume, and as it obvious, not only are the bullish volume bars taller than the red bearish ones, those bullish volume bars are getting taller and taller. Point being, the buyers are pouring in here, even if the stock hasn't taken flight yet.
The clincher for making this new uptrend from Cardium Therapeutics Inc. a trade-worthy one will be a close above the 100-day moving average line, currently at $0.88. If we can make one close at or above that line, that's really going to draw out the buyers and push this stock higher in a hurry.
Cardium Therapeutics is Oh-So-Close (CXM)
Cardium Therapeutics Inc. (NYSEMKT:CXM) has quietly, subtly become the market's next potential big winner.
By James E. Brumley
Dec 4, 2013 12:49:36 PM PST
To say that Cardium Therapeutics Inc. (NYSEMKT:CXM) has been unimpressive this year - and last year for that matter - would be an understatement. Shares of CXM peaked at $11.90 in late 2011, and spend the next two years making their way back to the August (2013) low of $0.58. The stock has since wiggled its way back to the current price of $0.84, but the effort has largely been dismissed as volatility. Big mistake. When you take a step back and look at the bigger picture, you start to see Cardium Therapeutics shares are on the cusp of a monster-sized rebound.
For those not familiar, CXM is the company behind FDA-approved Excellagen, which is the combination of a syringe and a medicine designed to treat wounds... foot ulcers and surgical wounds, mostly. It's also working on Generx, which is a treatment for coronary disease. Cardium Therapeutics also owns the "To Go" brand of healthy snack foods. It's a limited line of products, and a small pipeline, but still, there's something compelling here. So what, pray tell, allowed the stock to lose nearly 100% of its value since the Ocotber-2011 surge? In a word, reality. Although it was in October of 2011 that Excellagen was approved, over the course of the next two years, the market slowly remembered that an approval does not guarantee sales.
Finally some good news and people sell. Those that bought in the .70's take profits. So typical when you have lost all trust in this company
w8w, good thing you remind the ceo what his job is. Not that it will help much though.
He sits behind his desk doing the same thing every day.... which is nothing obviously cause after 2 years I still haven't seen ANY progress nor revenue!!!!
This excerpt from the same article written in 2011 (!!!!!) is particularly interesting and should be put on the CEO's desk each and every day to remind him what his job is and who pays his big fat income!
It has been a long road for CXM and their shareholders and with a number of obstacles placed before them during this journey share price has been hammered yet it appears as if they are beginning to see the light at the end of the tunnel. FDA clearance alone should trigger favorable investor interest and as the company advances their efforts to market and sell Excellagen and in turn move forward with their other endeavors shares should climb nicely. By all indications shares are a bargain right now and there’s no reason to believe that CXM won’t aggressively pursue the revenue opportunities that are now before them.
I couldn't resist and had to go back to the reports filed just after Excellagen received clearance precisely 2 years and a week ago. I couldn't help but laugh outloud while reading this particular report.
After two years I still haven't seen the answer in facts and/or numbers on how attractive Excellagen really is as the author of this report so enthousiastically wrote.
Sad to say but this truly has turned out a bad investment..
Cardium Therapeutics (AMEX: CXM) Receives FDA Clearance to Market and Sell Excellagen, Technology Platform Could Birth New Product Lines
Posted on October 12, 2011 by Editor
Cardium Therapeutics (AMEX: CXM) has been battling for nearly two years to receive 510(k) clearance from the FDA to market and sell their Excellagen professional-use, sterile, syringe-based advanced wound care product for the management of diabetic foot ulcers and other dermal wounds and that positive news was finally announced on Monday, sending shares up more than 223% to a high of 0.42 on trading volume that topped 9 million. The good times spilled over into Tuesday for the small biomedical company as shares climbed to a high of 0.52 before closing the day at 0.40 as many shareholders who had grown accustomed to shares in the mid-0.20 range opted to take their profits.
Shares continued to drop on Wednesday, moving around the 0.36 – 0.39 level, and while the fall may be a bit disconcerting for longtime shareholders it could represent a perfect opportunity for those investors looking to find a favorable entry mark.
What makes CXM so attractive isn’t just the fact that they will now be able to market and sell Excellagen; it’s also the fact that the small bio-tech has managed to travel the long road without accumulating massive debt. CXM is currently carrying minimal debt while holding about $4.4 million in cash, an enviable position for a company that now has a real opportunity to generate revenues.