Since you asked... The number of shares that you own is a big part of the question here. The price of PTN reacts violently to large purchases of sells so the first rule is use limit orders to control the effect.
I do not currently hold a position, but I have held large ones in the past and as the price recedes I would consider actively trading again. I consider short term trading the only way to make money with PTN for the next few years.
I also think that the current price is a gift, and the recent spike was an opportunity for the nimble to lower their exposure.
If you have a large position I would reducing my as I would think the share price will drop. My reasoning follows.
There won't be a product on the market for at least 3-4 years if they make it through phase 3. call me an optimist.
The company shuttered any active progress to decrease the cash burn rate. The cash burn rate shuttered is still about 1.3 million per month.
Cash from the GR 9.9 Million partnership (inclusive of the option rights 1 Million, adds 8.9 million to Palatin’s cash and cash equivalents of $12.2 million as of June 30, 2014. So lets call that 21 million. We are already almost through another quarter, so working with 17 million for the end of September.
Starting a phase 3 study in Europe will increase the cash burn rate sometime soon, but the expected start date is 3rd quarter of 15. The business calendar puts that out two quarters (best case). so before they add any costs associated with the phase 3 we are already blowing through the GR money. If its the 3rd quarter of the calendar year its just 2 quarters worse burn wise.
- Expect an increase in cash burn for phase 3
- down to 9 million cash end of q1 2015
- 6 million liquid cash to remain listed.
In addition to the outstanding share count of 39.5 million (float 28,46 million) there exist 67.5 million warrants that may be exercised for 1 cent expiring in 2022.
Thank god for the outstanding managemnet
if he had half a brain he would just refrain from posting saving him the time it takes to delete his posts. What kind of investor doesn't rate performance of the positions taken on....
besides the one that has less than half a brain
someone large put in an at market close order and shares were accumulated during the day by the MM... Activity really stepped up at 3 PM and the jump in share price was due to this trade... May have been MCP recovering part of the Warrant exposure
I don't like to call people morons even if they are...
But that label is appropriate for the Red thumb poster for a purely factual statement.
So... whoever posted that... U R a MORON
now if you could post the terms that apply... it might be a relevant contribution... it comes down to the 6 million for PTN and its category
so why did the activity jump and remain high from 3 to close... I mean if it was "pre arranged" wouldn't there just be one large transaction posted... isn't a market close order "pre arranged".... please give me a break
after the restructure Oaktree will have been the smart buyer holding the new shares with the debt wiped out..
Current shareholders can have shares issued and paper their walls if the request them while they still exist.
I mentioned INO a bit back...at 80 cents... they did a 1 for 4 reverse split and today announced plans to begin human trials of their ebola vaccine, just wondering if anyone jumped in... I am in for 20K shares and thinking of adding a few more...
35 years .... that's about the last time you had a relevant contribution...
Take a hike
Hope you make a fortune on INO... I got my first chunk at 66 cents pre R/S... sold some in the 2-3 range bought back in a on a drop and have been adding since the R/S via selling Puts and long purchases... Some of my shares are above the current price, but I am looking for a home run on this one... Hopefully the Ebola news will end up helping people and shareholders...
The massive down volume recently was not during the reported period. If short covering occurred then, that would be a bad sign. If the short interest holds next report then at least the price wasn't dropping as the shorts covered.
It a shame that you are unable to discuss anything without these rants. I disagree with you that a restructuring event is out of the question. Probably what Oaktree is hoping for. Were this to happen I would jump into the new shares hand over fist, but todays common holders would be wiped.
the short interest numbers are released about 8 or 9 days after the 15 and end of month... The number you appear to be referring to looks to be the outstanding shares.... I would expect that the float probably also increased by 28 mill from the 192 million that was aligned with the 244 mill outstanding.
If INO demonstrates its ability to quickly develop and produce in volumes... then this demonstration is significant and will enable the company to proceed to the longer term goals with the wind at its back.
Share price will increase enabling the company to rely on partners to a lessor degree.
Best of all, there is no better way to reap the rewards of success than by helping people. How is the opportunity here no recognized in the stock price.