6-3-16: FBR’s Thomas Yip reiterated an Outperform rating on shares of PPHM (PT=$1.00), after the drug maker reported a preliminary financial update of the company and its wholly owned bio-manufacturing subsidiary, Avid Bioservices [ http://tinyurl.com/zvmhqmr ]. Yip stated, “This financial update reaffirmed our belief that Avid will continue its organic growth, and we continue to think that Avid will remain a valuable source of non-dilutive cash flow for Peregrine as the company continues to explore opportunities to develop its lead asset, bavituximab, as a treatment combination with immuno-oncology agents. We also think Peregrine would not require addl. financing in the near term, as it reported a pro forma cash balance of $61mm as of April 30.”
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6-2-16/PR: Corp.Update – Avid Expansion & Drug Development - Avid revs for FY16(fye 4-30-16) will be $44mm; since $25.6mm for 1st 3 qtrs, Q4 revs will be ~$18.4mm. Avid B/L currently $56M; guidance for FY17(fye 4-30-17) is $50-55mm. Avid II (Myford) is currently ramping up for runs for “3 current clients”. Peregrine is “in the process of designing a 3rd mfg. Facility focused on clinical manufacturing”; has already secured a 25,000sf location, and “expects the new clinical suite to be complete & ready for clinical mfg. by 1H/2017.” ...All this leads to Peregrine expecting, "future sustainable profitability for the company in 24 months".
I think we break below $2 in the next few days and then the ascent resumes. Shorts are licking their chops and you can bet the syndicates are planning a hellacious short attack. I'm not trying to bash the stock. I sold for a 400% gain in about a week this morning and will buy back in with both feet once the inevitable short attack gives it a 50% haircut. It may be quick and only those sitting in front of their screens will catch the bottom.
Biofuel use for all Sea-Tac flights to reduce carbon emissions and support aviation biofuel development in Pacific Northwest
SEATTLE, DEC. 16, 2015 – The Port of Seattle, Alaska Airlines [NYSE:ALK] and Boeing [NYSE:BA] are partnering to move toward a significant environmental goal: powering all flights by all airlines at Seattle-Tacoma International Airport with sustainable aviation biofuel. Sea-Tac is the first U.S. airport to lay out a long-term roadmap to incorporate aviation biofuel into its infrastructure in a cost-effective, efficient manner.
At the Sea-Tac fuel farm today, executives for the port, Alaska Airlines, and Boeing signed a Memorandum of Understanding (MOU) to launch a $250,000 Biofuel Infrastructure Feasibility Study that will assess costs and infrastructure necessary to deliver a blend of aviation biofuel and conventional jet fuel to aircraft at Sea-Tac, a crucial step toward routine biofuel use in the future.
“As leaders in aviation biofuels, this will send a signal to airlines and biofuel producers that Sea-Tac Airport will be ready to integrate commercial-scale use of aviation biofuels,” said Port of Seattle Commissioner John Creighton. “Biofuel infrastructure will make Sea-Tac Airport an attractive option for any airline committing to use biofuel, and will assist in attracting biofuel producers to the region as part of a longer-term market development strategy.”
The partners’ longer-term plan is to incorporate significant quantities of biofuel into Sea-Tac’s fuel infrastructure, which is used by all 26 airlines and more than 380,000 flights annually at the airport. Sea-Tac is the 13th busiest airport in the U.S. and will serve over 42 million domestic and international passengers this year.
Joe Sprague, senior vice president of communications and external relations for Alaska Airlines, Sea-Tac’s largest carrier and leader of the airport’s fueling consortium, said the airline wants to incorporate biofuel into flight operations at one or more of its hubs by 2020, with Sea-Tac as a first choice for the Seattle-based airline.
“Biofuel offers the greatest way to further reduce our emissions,” said Sprague. “This study is a critical step in advancing our environmental goals and stimulating aviation biofuel production in the Pacific Northwest.”
The Port of Seattle will manage the $250,000 study as the biofuel roadmapping process and, as Sea-Tac Airport’s governing authority, would handle the engineering and integration of biofuel infrastructure on Port property such as the airport’s fuel farm. An RFP for the infrastructure study will be issued in the spring of 2016, and the study is expected to be completed by late 2016. Currently, aviation biofuels are not produced in Washington state and must be imported by truck, rail or barge.
Boeing, which partners globally to develop and commercialize sustainable aviation biofuel, is providing expertise about approaches to develop a regional biofuel supply chain to serve the airport, including fuel types, fuel producers, processing technologies and integration with airplanes.
“Sustainable aviation biofuel will play a critical role in reducing aviation’s carbon emissions over the long term,” said Sheila Remes, Boeing Commercial Airplanes vice president of Strategy. “Boeing, Washington state’s largest employer, is proud to work with our customer Alaska Airlines and the Port of Seattle to power every plane at Sea-Tac with a biofuel blend and lead the way for other airports to do the same.”
Approved “drop-in” aviation biofuel is blended directly with regular petroleum-based jet fuel and used in airplanes without any changes to the aircraft or engines. Using sustainably produced biofuel reduces lifecycle carbon dioxide emissions by 50 to 80 percent compared to conventional petroleum fuel, according to the U.S. Department of Energy. Since 2011, when biofuel was approved for commercial aviation, airlines have conducted more than 2,000 passenger flights with a blend of biofuel and conventional petroleum jet fuel.
The Port’s Century Agenda Goal is to reduce aircraft-related carbon emissions at Sea-Tac Airport by 25% by 2037. The key strategy to reduce these emissions is through aviation biofuel. Historically, the Port has been a leader in supporting research and development of aviation biofuels, and as models of other international airports and airlines using biofuel emerge, Sea-Tac is also developing a market-support role.
In the past five years, Alaska Airlines has become a leader in the pursuit of finding a sustainable supply of biofuels. In 2011, Alaska was the first airline to fly multiple flights using a 20 percent blend of sustainable aviation biofuel made from used cooking oil and waste animal fat.
In the next year, Alaska will partner with Gevo, Inc. to fly the first ever commercial flight on alcohol-to-jet fuel. In addition, as a partner in the Washington State University-led Northwest Advanced Renewable Alliance (NARA), Alaska plans to fly a demonstration flight next year using a new aviation biofuel made from forest-industry waste. Fuel for both demonstration flights must first be independently certified.
As part of Boeing’s commitment to protect the environment and support long-term sustainable growth for commercial aviation, the company partners globally with airlines, governments, research institutions, fuel companies and others to develop sustainable aviation biofuel. Boeing has active biofuel projects in the U.S., Australia, Brazil, Canada, China, Europe, Japan, the Middle East, South Africa and Southeast Asia
Gevo, Inc. (NASDAQ:GEVO) shares traded 50.45% during the most recent session. Wall Street analysts covering the stock are projecting that the stock will reach $3.00 within the next 52-weeks. The mean target projections are based on 2 opinions, the mean target was last revised on 05/13/16. Since analyst price targets calculations are subjective, there often can be a wide range of targets from various analysts.
Taking a broader look brokerage firms’ analysts on the street with an expectant view have high price target of $5.00 and with a conservative view have low price target of $1.00 with a standard deviation of $2.83. Standard deviation is a measure of the dispersion of a set of data from its mean. If seeing target price from optimistic overview then it has a 729 percent upside potential from the latest closing price of $0.603. This is the consensus price target based on the analysts polled by Thomson Reuters’ First Call, the average is taken from the individual analysts which provided targets and are short term projections for the 12 months.
In terms of Buy, Sell or Hold recommendations, Gevo, Inc. (NASDAQ:GEVO) has an analyst’s mean recommendation of 2.50. This is according to a simplified 1 to 5 scale where 1 represents a Strong Buy and 5 a Strong Sell.
In order to reach at price target analysts use several metrics to determine where stock might be headed, among commonly used metrics is PEG. The PEG ratio is used to determine a stock’s value while taking the company’s earnings growth into account, and is considered to provide a more complete picture than the P/E ratio. While a high P/E ratio may make a stock look like a good buy, factoring in the company’s growth rate to get the stock’s PEG ratio can tell a different story. The lower the PEG ratio, the more the stock may be undervalued given its earnings performance. The stock has a current PEG of -0.02 where as its P/E ratio is -0.56. S&P 500 has rallied 0.33% during the last 52- weeks.
While considering growth estimates of the company, it has next quarter growth estimates of 33.30% whereas during current quarter it has 75.50% estimations over growth, comparing to the estimations of 55.00% during current year and 31.50% for next year. Past 5 years growth of Gevo, Inc. (NASDAQ:GEVO) observed at 0.00%, looking forward for the next 5 years it has a strong prediction of 25.00% over growth.
Gevo, Inc. (NASDAQ:GEVO)’s revenue estimates for the current quarter are $9.80 million according to 2 number of analysts, for the current quarter the company has high revenue estimates of $10.20 million in contradiction of low revenue estimates of $9.40 million. For the current year the company’s revenue estimates are $37.50 million compared to low analyst estimates of $36.80 billion and high estimates of $38.20 billion according 2 number of analysts.
Gevo, Inc. (NASDAQ:GEVO) on June 7, 2016 announced that the first two commercial flights using Gevo’s renewable alcohol to jet fuel (ATJ) took place on June 7, 2016 originated in Seattle and flying to San Francisco International Airport1 and Ronald Reagan Washington National Airport2.
The event marks a successful step toward new fuels that help airlines to reduce their greenhouse gas emissions (GHGs). Gevo’s alcohol to jet synthetic paraffinic kerosene (ATJ-SPK) process turns its bio-based isobutanol into jet fuel that meets the requirements of the recently revised ASTM D7566 (Standard Specification for Aviation Turbine Fuel Containing Synthesized Hydrocarbons) for up to a 30 percent fuel blend. The two Alaska Airlines flights on June 7, 2016 utilized a 20 percent fuel blend.
When compared to other fuel options, Gevo believes that its renewable ATJ has the potential to offer the most optimized operating cost, capital cost, feedstock availability, scalability, and translation across geographies.
These two commercial flights represent an important advance in biofuels for an industry that contributes about 2 percent of the total GHG emissions worldwide, according to the International Civil Aviation Organization, a United Nations agency. The agency also expects growth in air travel worldwide will result in double the number of passengers and flights by 2030. These additional flights will dramatically increase jet fuel consumption and GHG emissions.
ran down to .82 now at .87. Today should be a wild ride. Shorts have to cover at some point and there is limited downside risk from here.
this has been happening a lot lately. Out of thousands of publicly traded companies- why so much high profile visibility for little ole MGT? This is bizarre but I like it.
Article out today on the Yahoo finance home page!
By Jason Lange and Dustin Volz
WASHINGTON (Reuters) - The U.S. Federal Reserve detected more than 50 cyber breaches between 2011 and 2015, with several incidents described internally as "espionage," according to Fed records.
The central bank's staff suspected hackers or spies in many of the incidents, the records show. The Fed's computer systems play a critical role in global banking and hold confidential information on discussions about monetary policy that drives financial markets.
The cybersecurity reports, obtained by Reuters through a Freedom of Information Act request, were heavily redacted by Fed officials to keep secret the central bank's security procedures.
The Fed declined to comment, and the redacted records do not say who hacked the bank's systems or whether they accessed sensitive information or stole money.
"Hacking is a major threat to the stability of the financial system. This data shows why," said James Lewis, a cybersecurity expert at the Center for Strategic and International Studies, a Washington think tank. Lewis reviewed the files at the request of Reuters.
For a graphic on the Fed security breaches, see: http://tmsnrt.rs/1TxSu8R
The records represent only a slice of all cyber attacks on the Fed because they include only cases involving the Washington-based Board of Governors, a federal agency that is subject to public records laws. Reuters did not have access to reports by local cybersecurity teams at the central bank's 12 privately owned regional branches.
The disclosure of breaches at the Fed comes at a time when cybersecurity at central banks worldwide is under scrutiny after hackers stole $81 million from a Bank Bangladesh account at the New York Fed.
Cyber thieves have targeted large financial institutions around the world, including America's largest bank JPMorgan, as well as smaller players like Ecuador's Banco del Austro and Vietnam's Tien Phong Bank.
Hacking attempts were cited in 140 of the 310 reports provided by the Fed's board. In some reports, the incidents were not classified in any way.
In eight information breaches between 2011 and 2013 - a time when the Fed's trading desk was buying massive amounts of bonds - Fed staff wrote that the cases involved "malicious code," referring to software used by hackers.
Four hacking incidents in 2012 were considered acts of "espionage," according to the records. Information was disclosed in at least two of those incidents, according to the records. In the other two incidents, the records did not indicate whether there was a breach.
In all, the Fed's national team of cybersecurity experts, which operates mostly out of New Jersey, identified 51 cases of "information disclosure" involving the Fed's board. Separate reports showed a local team at the board registered four such incidents.
The cases of information disclosure can refer to a range of ways unauthorized people see Fed information, from hacking attacks to Fed emails sent to the wrong recipients, according to two former Fed cybersecurity staffers who spoke on condition of anonymity.
The former employees said that cyber attacks on the Fed are about as common as at other large financial institutions.
It was unclear if the espionage incidents involved foreign governments, as has been suspected in some hacks of federal agencies. Beginning in 2014, for instance, hackers stole more than 21 million background check records from the federal Office of Personnel Management, and U.S. officials attributed the breach to the Chinese government, an accusation denied by Beijing.
TARGET FOR SPYING
Security analysts said foreign governments could stand to gain from inside Fed information. China and Russia, for instance, are major players in the $13.8 trillion federal debt market where Fed policy plays a big role in setting interest rates.
"Obviously that makes it a very clear (hacking) target for other nation states," said Ari Schwartz, a former top cybersecurity adviser at the White House who is now with the law firm Venable.
U.S. prosecutors in March accused hackers associated with Iran's government of attacking dozens of U.S. banks.
In the records obtained by Reuters, espionage might also refer to spying by private companies, or even individuals such British activist Lauri Love, who is accused of infiltrating a server at a regional Fed branch in October 2012. Love stole names, e-mail addresses, and phone numbers of Fed computer system users, according to a federal indictment.
The redacted reports obtained by Reuters do not mention Love or any other hacker by name.
The records point to breaches during a sensitive period for the Fed, which was ramping up aid for the struggling U.S. economy by buying massive quantities of U.S. government debt and mortgage-backed securities.
In 2010 and 2011, the Fed went on a $600 billion bond-buying spree that lowered interest rates and made bonds more expensive. It restarted purchases in September 2012 and expanded them up in December of that year.
The Fed cybersecurity records did not indicate whether hackers accessed sensitive information on the timing or amounts of bond purchases or used it for financial gain.
UP ALL NIGHT
The Fed's national cybersecurity team - the National Incident Response Team, or NIRT - created 263 of the incident reports obtained by Reuters.
NIRT operates in a fortress-like building in East Rutherford, New Jersey that also processes millions of dollars in cash everyday as part of the central bank's duty to keep the financial system running, according to the New York Fed's website. The unit provides support to the local cybersecurity teams at the Fed's Board and regional banks, which process more than $3 trillion in payments every day.
The NIRT handles "higher impact" cases, according to a 2013 report by the Board of Governor's Office of Inspector General.
One of the two former NIRT employees interviewed by Reuters described being on a team that once worked around the clock for five-straight days to patch software hackers had used to gain access to Fed systems in an attempt to obtain passwords. The former employee worked through several of those nights, taking naps at a desk in the office.
In that case, Fed security staff found no signs that sensitive information had been disclosed, the former employee said. Information about future interest rate policy discussions is isolated from other Fed networks and is more difficult for hackers to access, the former NIRT worker said.
But the Fed was under constant assault, much like any large company, the former employee said, and was "compromised frequently."
An internal watchdog has criticized the central bank for cybersecurity shortcomings. A 2015 audit by the Fed board's Office of Inspector General found the board was not adequately scanning databases for vulnerabilities or putting enough restrictions on system access.
"There is heightened risk of unauthorized disclosure and inappropriate use of sensitive board information," according to the audit released in November.
(Reporting by Jason Lange and Dustin Volz; Editing by David Chance and Brian Thevenot)
sold all my shares at $3.38- feels good. Have a buy limit order at $2.50. Confident it wii hit today.
This was a $30 stock a few years ago
Hate to say it but I think you are right. I've seen this movie before. Ridiculous run up 5-6 days in a row and then HALTED- BAM SECONDARY. JUST SOLD FOR AN 80% PROFIT JUST TODAY. Still love the stock, just think there will be a much lower entry point some time this week.
Look for a halt today for sure.
I agree- just sold.
will reopen a week later on the grays for .06
Sounds like they are confident in their Proellex with 100% efficacy results so far! 60% institutional investment seems to agree.