Watching this slow and painful death spiral is difficult, particularly when management is lying about their condition in a pathetic attempt to deny fact and postpone the inevitable death. The canary in the coal mine already died (CFO left). While puffery is not illegal, such as talking about the alleged next big thing of Cold PCR, not saying the Cold PCR patents have been challenged is material fraud, in my opinion. Any company that management indicates will pay big buck for the rights to Cold PCR will do due diligence before paying anything. Simple due diligence will find the patent challenges. So where are all the deals? Failure to disclose material information in public filings (such as the last 10Q) is illegal according to SEC rules. The fact of the patent challenges is public information available for anyone to see and read. It's even been posted on this message board.
Yet management didn't even mention this (patent challenges) in their last 10Q. That is fraud in my book.
Safer for whom? Creating the addiction in the first place or providing a fix for existing addicts? The FDA understands that long acting opoids do not create the addicts in the first place. The key to addiction is a short term bolus of drug to the brain. The FDA also understand that to so-called "abuse deterrent" formulations are male bovine excrement (I can't use the real word). If an addict needs a fix, he/she simply buys heroin and injects it. The whole "abuse deterrent" nonsense is a straw man and irrelevant to sales. I still think Purdue should be sued for false advertising, including their misleading PR campaign earlier this year.
Looks like ILMN has settled this case that their last 10K indicated they would never settle. The article doesn't indicate the amount of the settlement. Reading the article, it appears that the info came from ILMN.
While not trying to engage in a semantic discussion over the definition of "monetize," you've repeated the fatal flaw that Ice Cold PCR "is the future of the company, where significant revenue will be forthcoming." This is the part where you missed the significance of the reexaminations. Waiting for "the future of the company" and the alleged significant revenues that will allegedly be forthcoming is akin to waiting for Godot. You should read the Samuel Beckett play. But here's a spoiler alert, Godot never shows. Neither will any revenues for Ice Cold PCR. And that again is the point of my posts. That point and the fact that the Company knew of the material reexaminations and chose not to disclose them. That goes to credibility of management.
If "they" are not monetizing ICE COLD PCR, why is TBIO even in business? A business is supposed to earn revenues in excess of costs/expenses to make a profit for its owners. If the patents will not be monetized, why mention this "technology" at all during the conference calls? But now we know that the patents are not enforceable due to the reexaminations, so even if "they" wanted to monetize the patents, "they" will be unable to do so. Therefore, this company is not a sustainable business and will be worthless soon. Perhaps TBIO can become a non-profit charity to help be a way for Kirk to make charitable deductions, like his last $2+ Mil "contribution." That's enough money in the kitty to keep the doors open through the end of the year, without having to cover a CFO salary. Can you say "Going Concern?"
Why didn't the Company tell us about these in the Q3 conference call and earnings release? These have got to be material because Kinnon based the entire future of the company on this "technology" where the patent protection is being challenged. Sounds material to me, Ya think? If you Google this Troll Busters outfit, the track record invalidating PCR patents is strong. They went after Roche PCR patents, Life Tech PCR patents.
Again, are these guys smoking some substance now legal in Colorado? Granted Nebraska does come close to the Colorado border. The District Court in Delaware just slapped down another PCR "technology" patent as subject matter ineligible due to trying to claim a law of nature. Starting this past summer, courts have been invalidating patents left and right due to some recent Supreme Court decisions narrowly interpreting what is patent eligible subject matter. How is this so-called "new" PCR technology not a law of nature? Something just doesn't smell right here. Particularly when the Q3 conference call seems to think that it is going to be widely adopted and bring in boatloads of money? How can TBIO so completely ignore how much patent law has changed and has weakened patent rights? You don't have to answer that, it was rhetorical.
Can the company do that? Generally, there are limited trading windows for insiders, particularly since management is aware of the earnings information. I'm not aware that announcing a general buyback program in terms of the amount to be used entitles the company to trade on insider information. It's an unfair advantage to the company.
I'm troubled by what I heard in the Q3 call replay. This is a PCR "technology." What the H does that mean? PCR is a method discovered 30 years ago and Mullis won a Nobel Prize for it. Roche and ABI/Life Tech/Thermo were able to monetize the initial patents but that is over as the patents have expired. And now these numbnutz are going to rake in big bucks by giving it a cute name? I've worked in diagnostics and the key now is content, not method. Roche controls the method with the LightCycler which you simply program. I don't see where there's a business here. Perhaps that is why the CFO flew the coup? Can anyone explain this without using meaningless trade names?
Looks like market share is about to heading north significantly. Nothing like the implosion of a large competitor to help things along. Does ANW do similar derivative trading? I hope not. Another victim of the crash in crude prices.
I listened to the replay of the call. Kinnon also said his one "big" deal is not even material. It is very hard to protect amorphous technology. The fact that the CFO just flew the coup is a sign the end is near and all of this hype about "technology" without talking about enforcing patents is just hot air. This smells like a scam to me.
I also wonder about the so-called "exclusivity" arrangement. This smells and it's possible the low upfront amount (it may be back-end loaded with royalty) is designed to avoid having the trust-busters at the FTC look closely at this deal. Any deal that limits pharma competition and maintains higher prices is subject to scrutiny. But what disappoints me is that I hope ZGNX didn't give up its right to sue the snot out of Purdue for false advertising for their PR misinformation campaign to try to limit Zo sales.
You need to read in context. These are employee stock options. There is a stock option plan and an option agreement signed by the Company and each option recipient. These are not the public traded stock options that the original poster was inquiring about.
Should be dead by the end of the year. As the Gertrude Stein quote goes, "there's no there, there." As for money bags Kirk, don't see him stepping up to the plate. No leadership there as he plays the fiddle while his empire burns, just like Nero.
How about $19? Genius, right? That is irrelevant to me because what's important is where it closes on Friday. All my shares are being used to cover the 20 strike options that expire this weekend. I sold the options for 2 each. So if it closes above 20 tomorrow I get $2 per share of income (already received) and $12 per share of capital gain on my taxes (and yes $20 per share proceeds). If it closes under 20, I get $2 share of income and keep my shares.
I'm hoping for the latter so that I can play it again, Sam. I was watching this in amazement as it went up each day to 24 to, in my opinion, over-bought territory. I planned to let it ride and simply use my shares to cover because I wasn't going to chase this seemingly irrational price rise to buy back the options. My DRTX is "only" 23+ because of the take-out offer and was bought at the same price and time as TTPH. So this time, I hope to play it again with another option round, I hope with better timing. After all the rest of the market looks pretty dismal.
Didn't make money with EXAS but did with the others you listed. Already own CTIX at about 50% lower-than-current price. Also own CEMP and still own and only up around 40% so far with it. Got to love small pharmas that have anti-infectives instead of the ones with oncology products in development. But I'm not predicting how the market shares will pan out for competing anti-infectives. Much will depend on how resistance patterns develop and that cannot be predicted. Antibiotics have always been the poor stepchild in Big Pharma so I'm happy to see this category gaining investor traction.
I was wondering about the big rise on Friday with no news. Volume up and share price up almost 10%. Obviously word leaked out and those who drove up the price on Friday had inside info of the deal (perhaps not the exact numbers of the deal). Either way, I hope the SEC files insider trading lawsuits. Fortunately, I was too busy to follow the stock market on Friday and did not sell. But if I had sold, I'd be screaming for justice.
So if the shorts/detractors think Zo is such a sheet product that is going nowhere and soon to be taken off the market, why have there been two ANDA filings? I guess you guys are smarter than the entire generic industry, eh?
This is now a momentum play. Higher than normal volumes and upward bias in price. In the short term this will peter out. The longer term depends on NDA filing and approval. I now have over a 2.5X gain in about 18 months hold so I'll take profits now. I don't think this upswing can last and I'll buy back (always difficult to time this) when or if I see a significant dip. I didn't sell the shares, just covered call options that could have my shares called away if it closes over 20 at Oct options expiration and I'll have effectively sold at 22. But my concern is how poorly DRTX behaved after FDA approval. Bought both at the same time and at the same 8 per share price. In hindsight I should have sold DRTX right after approval so I'm trying to learn from past mistakes.