Thanks lee, but I can speak for myself. Your assertions for what I'm alleged to think have no basis in fact. Nor can you point to anything I've written to support your fantasy conclusions. The only conclusion one can draw is that you have a reading comprehension problem. This shows why you never got into Penn and have this complete envy of Quakers (Penn grads).
First, I don't hate anyone, even you lee. Emotion doesn't factor into my investment decisions. I invested in CTIX (and I'm adding at these current low levels) because I see some progress in clinical development of the assets. One also has to look at valuation in view of peer companies. I'm focusing on the anti-infective peer group because that is the most advanced CTIX asset. Lee doesn't seem to understand that value is inverse to risk and there is increased risk in investing in CTIX due to both bozo management (my opinion based on working in this industry) and a lack of an independent Board of individuals who can oversee management and have a fiduciary duty to look after shareholder interests.
By the way, with this recent big drop in biotech stocks, I bought back a bunch of another company with a new antibiotic, CEMP at 26 (didn't hit the bottom). Yes I'm up over 20% in 6 trading days. Last month, I bought CEMP shares and sold covered calls and made 11% in 3.5 weeks when the covered options were assigned. I like this sector (anti-infectives) and fortunately sold TTPH before the fall (was over-valued). That's why I looked at CTIX as its lead candidate is an anti-infective. Lets see what happens with CEMP as it shows what competent management can do with a lead antibiotic drug. Meanwhile, Leo is wallowing in the mud with shorts and ambulance chaser lawyers. You see Lee, if you went to Penn you work with CEMP, but Penn State hangs in the mud with the low-lifes like Leo.
You have no losses unless you sold your shares and then the losses were realized. And they will be listed on your tax return. What happens if the contingency law firms cannot find a client? The lawsuits get withdrawn and dismissed with prejudice. And then Fraz will have to shut up because he'll have nothing left to gripe about. Thanks Fraz, you're my reason to not retire.
No Fraz. I don't want any more time wasted on the shareholder (really not the shareholders, it is the ambulance-chasing lawyers) litigation. It is irrelevant to the mission of the company. Don't lose focus here, the company exists to create revenue and profit-generating products. That is done by developing the assets (drug candidates) up the progression of clinical trials and adding value to the assets by overcoming barriers (showing safety and efficacy through clinical data). Anything else is irrelevant noise. If you're upset about the lawsuits Fraz, direct your anger to creating new legislation to add more downside risk for the contingency lawyers who pursue such claims. Of shut up about it. Same goes to Leo who is showing his poor management by the most recent press release.
Good grief!. The election isn't for another 13 months. Other than making our country look like a bunch of idiots, why is anyone wasting any bandwidth on this? I have better things to do. And as for the two key related problems of the extreme inequality (wealth, income and opportunity) and money corrupting the dysfunctional political system, I'm seeing concrete examples of this in the so-called "bipartisan" patent reform bills. Here we have lobbyists for bigger (rent-seeker) companies like Google and Microsoft and Pfizer) joining forces to rig the patent system against the little innovators and universities. When I wrote to my congressperson about this, I got a form response written by a lobbyist as if patent trolls was justification for devaluing university research and patenting (this is an area where I care deeply). I published his response and showed (side-by-side) how it is the same language of a lobbying interest group. That got the attention of the staffers, who now bend over backwards to make it appear that they are actually listening to constituents, instead of only to lobbyists who provide campaign money (money buys influence). As for president, the candidate willing to over-turn the Citizens United decision with legislation, or even a Constitutional amendment, wins my vote. It will go a long way toward wiping out the lobbying industry that is contributing much to our political dysfunction. As for me, neither a republican nor a democrat am I.
I'm long and recently got longer. I like the assets but think the stock price is so low because of really poor management. I've been posting this same message for some time, and I cannot figure out the world of mouth-breathers who only think in terms of black or white but not many shades of gray. You can check and see that I posted critical of that Seeking alpha hit piece and why it had no credibility. You'll need to expand your attention span to get beyond a gnat.
Thanks for reminding me lee, I need to amend my post. The first sentence should read: "Long shareholders are not stupid, except for lee."
Long shareholders are not stupid. Of course counsel for CTIX will file a motion to dismiss and seek sanctions under Rule 11. That is standard practice. If your lawyers didn't do that, it would be malpractice. So why do you need to issue a press release when all you've done is standard practice? Yes that question is rhetorical. Leo, dude, step back, look in the mirror and ask yourself: "Why am I the victim of this short attack?" If you're honest with yourself, Leo, you would answer "Because I have a long history of putting out stupid, hyped, non-material press releases that say essentially, 'Today I'm doing my job.'" We'll fire your sorry posterior if you're not doing your job. But that is for an independent Board to review and we don't have one. That's a not-so-subtle hint to Leo to get your excrement together and run CTIX like a real public company and not a personal fiefdom. Because if this long shareholder sues your sorry posterior is will be for real securities violations, such as a non-independent Board or breach of fiduciary duty. Make sure your D&O insurance is fully paid up.
Leo, you obviously don't know the definition of insanity. It is doing the same thing and expecting a different result. Leo, your hype caused this problem. Treat it at the source, that is, your stupid, hyped press releases. DON'T SENT OUT (today) YET ANOTHER STUPID HYPED PRESS RELEASE! I don't advocate violence but will someone knock some sense into Leo. Leo is the problem here, not the solution.
OK sky, the theory to explain the madness makes sense. However, what's disturbing then is the execution of the plan. If it is a bunch of indiscriminant buying, then one needs to be very careful and check out what one is buying. That ADC company looks like a clunker. Why did SRNE buy that? Because ADC's used to be all the rage? Now it looks like ADC's are yesterday's news and SRNE doesn't talk about that acquisition anymore. But it's in the K's and Q's. Instead SRNE is now chasing the immunotherapy holy grail because a bunch of companies in this space, well ahead of SRE, got whooping market valuations. Even if SRNE is playing broker, I've learned in business that the acid test is how well you sell, not how you buy. And SRNE has sold very little. The sale of a taxol formulation brought in a tiny upfront and the big number is much later milestones. This doesn't value the success of the one clinical trial they actually conducted. If in fact the "broker" role is the business plan, any successful broker has to learn to sell and this is where SRNE seems to be failing. Why is this the case? Is it a problem with what's being sold? That means SRNE needs to do better being more discriminating in what it buys. But something is wrong here. There's a disconnect with the market cap at a mere 3% of what the CEO said it should be. Who's wrong? The CEO or the market?
TBIO doesn't sell anything. That's the problem. It has no approved diagnostic test kits. And nobody has stepped up to be its "partner" on the Dana-Farber patents that's supposed to be the bee's knees for selective enrichment of mutant sequences. Could it be that there's more than one way to skin this cat, particularly since PCR is oh about 30 years old. What a scam! And now that the only revenue-generator but money loser has been divested to cut the burn rate, there's nothing left here. Time to stick a fork in it and go home.
For the life of me, I cannot figure out how S-S or the Nants are beneficial for SRNE. Yes S-S has a lot of money, but so what. One gets billions by not giving it away or helping competitors. The Nant deals seem to be nothing more than name-dropping to me to impress investors with the attention span of a gnat but who don't do any due diligence. I try to read lots of material (including K's and Q's) before I invest and I cannot figure this one out. What is particularly perplexing is the biosimilars deal where I just don't see a market need when many other larger companies also have market entry (like Amgen, Teva and Novartis/Sandoz). What's the point of the biosimilars? Anyone? I also don't understand that old ADC venture when established players (like SGEN) are also in this space. What makes SRNE's ADC venture better? I wasn't aware that the CEO claimed a $10Bil valuation at a NY conference. That's disturbing because he's over-promising and significantly under-delivering, a bad sign for management. I think the problem is deeper than explaining how the parts fit together. I think we have to wonder why SRNE seems to have lost focus with nothing in the clinic. Instead SRNE seems to be always playing catch-up to follow what's hot in the banker universe (which stocks currently command a high market valuation) without playing a leader of something. SRNE seems to always be a late follower, not a leader in anything. The ADC deal was a couple of years ago when ADC's were hot. But now ADC are not. The same think for the NK and cellular immunotherapy deals. With the IPO's of JUNO, KITE, BLUE, etc., this is the current hot area and SRNE is now chasing this space. What happens when cellular immunotherapy is no longer hot? Always a follower, never a leader.
Today's "divestment" shows that the emperor (Kinnon) has no clothes. Please note the choice of word "divestment" and not "sale." The "benefit" to the shareholders is a lower burn rate. But three's no functioning or revenue-producing business left. Starting in May 2016 with the Q1 financials, we'll see no revenue. However, I doubt TBIO will be around to report that failure. Despite all of the hype and bluster, the worthless patents from Dana-Farber have not achieved any revenue. The patents have process claims that are narrow and claim a known PCR process, if construed broadly. That means no actual diagnostic company (the "potential partners" that Kinnon hyped 9 months ago) has materialized as a licensee or "partner". A university Down Under is not a partner as a university does not sell products. That means Kinnon has not delivered on his prior promises. Will you trust him to deliver when he's failed before, and not even admitted to those failures? The PCR enrichment process dream is all that is left for TBIO. Oh and a bunch of debt that cannot be paid off with the divestment because it was not a sale. This is not a going concern.
Well now herbie, these patents are all that's left. As for my short, I made money. Anyone fooled by you, lost money. And now there's nothing left that resembles a viable business. Time to put a fork in it and put it out of its misery.
Anyone who does due diligence here is selling or has sold. There's nothing here of any value. It's just a bunch of male bovine excrement regarding this PCR method patents. It's one thing to get a patent. It's another to have someone pay you for a license. Kinnon should be sued for shareholder fraud for hyping the Farber patents. They are nothing but wall plaques. Where are all the "potential" partners for these worthless patents Kinnon promised? Still between Kinnon's ears? It broke a buck. Now we'll wait for the reverse split and start another round of made-up hype anew. And so it goes... At least herbie gets paid for PR and trying to manage social media.
This makes no sense. Who gives a F about even more old antibody drugs? Novartis and/or Teva will take over this market anyway. I think this is falling because there is no there, there.
I don't. What a waste of time to dignify such obvious evidence-less innuendo with a detailed response. Why would Leo sink to their level? Because a hypester like Leo is at their level already. Again Leo needs to shut up or leave. We'll all be better off without Leo.
UTI is a difficult indication with lots of resistant E. coli strains going around. Earlier phase 3 successful data shows company still has a drug.
Lee, your first sentence was correct. But I do not wish to be ax'd, too violent. And yes I worked at Pfizer, as Pfizer paid for my law school. Thanks Pfizer, glad I left.
I have no sympathy for you esque. We make our own decisions. These risks are inherent with investing in the stocks in the current market, given poor regulatory surveillance that exists today. If we had better management (I've expressed my opinion of how poor Leo is), this situation would not have happened. This is why we need to get rid of Leo and his cronies on the Board. The stock will be volatile because we have such weak management. But nothing has changed with respect to the drug assets. It is only a self-inflicted problem because of such weak management. I invested because of the drug assets and recognize the volatility due to poor management. If Leo and his cronies are replaced by competent management, the stock will double or triple, in my opinion. This is not due to the lawsuits coordinated by organized shorts. It is because Leo et al. are so incompetent that they made an easy short target.