Be careful when looking at numbers... The Outstanding shares of 39M does not include the warrants in the money (some 66 million shares) The company calculated its loss using the, weighted average number of common shares outstanding of 106,424,443. So the stock has a cash per share in the low twenties, is effectively shut down till phase 3 activities occur. So does the PPS really appear low?
I mixed the dates up... but it looks like the warrants are not being executed as the ref to june 2012 was
Common stock of $0.01 par value – authorized 200,000,000 shares; issued and outstanding 38,947,912 shares as of March 31, 2013 and 34,900,591 as of June 30, 2012, respectively
so that would most likely be just the shares actually purchased in the offering...
I was looking at the 10Q and see that
Weighted average number of common shares outstanding has increased from 94,754,789 as of March 31 2013 to 106,424,443 as of June 31 2013. The total stood at 34,900,591 as of March 31 2012.
actually raising again, but I will still be happy selling for a nickel profit.(things are a bit tighter on the moves).
I was wondering if you had seen something in particular that moved you to make your statement.... I guess even hope is something...
yahoo cut the following text out of my post
Over the next twelve months we intend to focus efforts on preparing for and initiating our Phase 3 clinical trial with bremelanotide, conducting preclinical research on one or more peptide melanocortin agonists for sexual dysfunction and other indications, conducting preclinical research on peptide melanocortin agonists for inflammatory and dermatologic disease-related indications, and development and testing of an inhaled formulation of PL-3994.
Our current cash, cash equivalents and short-term investments are not sufficient to complete all of the clinical trials required for product approval for any of our products. We expect that the Phase 3 bremelanotide clinical trial program for FSD will require significant additional resources and capital. We intend to seek additional capital through public or private equity or debt financings, collaborative arrangements on our product candidates, including bremelanotide for FSD, or other sources.
From the 10Q
This says that they will continue to burn cash for 12 months preparing for and initiating Phase 3....
Getting a partner will take much of the remaining time this year... I wouldn't spend that $1.50 yet.
Interesting that you consider it strange that I am doing the very thing I have stated is the only way I would use this stock. Yes I did try to accumulate at 56 cents and moved up to 60.1 cents to accumulate some more. and yes I will sell beginning in the upper 60's.
My thoughts are not set in cement like yours, I have the ability to reconsider and factor input.
I respect your right to post, but I have no respect for you. I consider you a danger for those that don't have a grounding on your comments, you have miss-led your friends, family and strangers... and your behavior has been juvenile and cement headed. We probably are much better off not commenting on each others posts...
I have been buying some shares at 60.1 cents for a few weeks here and there (don't access my accounts often when I am outside the country)... While the fills have been harder to get, I still get them. Without a partner I would expect that this will trade lower than 60 cents, but I was wondering why you made your statement... I expect the range trading to continue... do you see this going up and holding any real gains?
I was hoping to see a post on your take of the fundamentals with the warrant situation included. I would also be interested in the timelines you expect to see results that would have a meaningful affect on the stock price... thx
First I would like to say that overall a good response.
But, your tittle included the word "history" and you were discussing past behavior... so my reply was in line with your topic.
I would also point out that the management has not changed, so history is somewhat important.
The statistics you use are short in one regard. The cash was raised by selling 67 million warrants for 49 cents that are executable for a penny (I am now addressing your post below where you talk fundamentals). The warrants are effectively shares but they do not get included in the float. The 80 cents per share is highly misrepresentative of the cash position as they would be out of money if you backed out the revenue from selling the warrants so for investment considerations I would suggest adding the 67 million shares to the float/outstanding. As it stands they have about a year till they are looking at raising money if they resurrect any activity or engage in a phase 3 without a partner.
Are you saying that in looking at the charts for this stock that there is anything that would have made you wish that you owned it for the last 2, 5, 7 or 10 years.... are tax losses that important to you?...
Look at how long those spikes last... there may be a happy ending someday but that will be after a significant amount of time... Phase three testing will need to complete, and all the nonsense about two concurrent or not don't change the fact that often there are multiple phase three studies because the FDA required more input... There is no must be two and only two phase three studies... there are multiples because there are additional requirements to be fulfilled...
please share with us where it was and what it did last time it got a 5 star rating...
I was buying in the 59 cent range and will sell again in the upper 60's... bird in hand... hold the bird too long and there is something else in the hand...
Given I don't like taking a 6 figure loss, the fact remains I can do so with some regret, but I didn't lose sleep over it... With your money management how would a similar loss feel?
please inform Fidelity that they have miscalculated the value of my holdings... I didn't sell but my account value has dropped 6 figures... thanks in advance
The value is the value sell or not. The key is can the remaining funds generate a better profit so please don't tell me that you don't lose the money if you don't sell.