Longwood does not have to file 13F's due to size requirements. They also do not have to update their 13g holding filings till end of the year filings are due.
here's the link to institutional holders as reported on 13F's as of end of Q1 - scroll down to the bottom:
Also, just look up Great Pointe Partners latest 13 F, it shows they have ZERO shares of CBMX.
Great Pointe already sold all there shares, and Longwood doesn't have to file a 13F, so we don't know if they sold out or not. My comments on institutional selling is based on all available public info. 6 funds sold out completely and 12 funds were net sellers in last quarter. 1 new fund bought about 10k shares, so non material.
LOL, Institutions sold last quarter when they got wind of the trial - look at the institutional holding, not many are left. None of the institutions own enough to matter now, with the most being 99k shares of a $2 stock - hardly a meaningful investment for a fund. This stock is owned by lots of small traders / investors that have no idea about this lawsuit and haven't done much, if any, due diligence. Hopefully CBMX wins, but not a slam dunk, is all I am saying.
Whats at stake is the $25m settlement that CBMX received based on their claim against National Union, the insurance company. If CBMX loses this case, they would have to refund the $25m (that they don't have). CBMX tried to pass the initiative to raise the share count at the last Annual meeting which would have allowed them to raise funds to pay this off in an event of a loss of the trial. Now they do not have that way out. So if they lose the case, the equity goes to zero, imho.
I don't think it will go on very much longer, except that both sides will likely appeal. Its worth reading the court case if your an investor in CBMX - just google it. IMHO, Some points that the plaintiff is making will not be difficult to prove. The problem is that the former CEO was very unscrupulous, and has left this company open to this lawsuit by his actions. I am hoping for a CBMX win, as I do believe there business prospects are pretty good and that they will eventually turn the corner, but I don't think a win on this court case is a slam dunk. Like I said 50 -50 probability it could go either way, imho. And given the length of time its taking to ramp up revenues, it's clear to me that even if they do win the court case, there is yet another capital raise in CBMX's future about a year from now (when cash falls below $5m). That will likely hang over the head of this stock until the break even point is clearly visible. And that Break even point is OVER 2 years out now, as doctors are notoriously slow to adopt new methodologies and diagnostic tests, imho.
While you are correct, its been my experience that literally anything can happen in a court of law. CBMX is still paying for the sins of the former management team that was very unscrupulous. I would say the odds of a CBMX win are 50 / 50 imho.
Who else would post on here practically everyday since he filed the lawsuit in 2011 ?
But if CBMX happens to lose this case, they are out $25m, and the equity goes to zero - no wonder CBMX tried to increase the total number of shares they could issue from 25m to 35m, if they lose now they don't have a way to pay it off. Its my belief that Strathmann's attorney is doing this all on contingency hoping for the big payday at the end, just like Strathmann.
Management looks like they miscalculated. Osmium wouldnt have acted so belligerent unless they held the trump card. Sure looks like the trump card got played today! Osmium with 14% + 402 Cap with 12% and Titney Wilson and others with significant slug, Management is about to learn what happens when you pay yourself phat salaries, dont own any shares yourself and dont deliver on operational goals or profitability. IMHO, this means heads are about to role at LOV real soon.
Well written response. I'd add the short contingent was the small funds / investors who participated in the last round of financing at 2.20. Shorted shares as a hedge to their gains at higher prices.
I think your right, that has been the rumor for about a month now. if true, could be a game changer for them.
Come on Mike, How is he scaring investors ? He hasn't said anything coherent about the company business prospects that makes any sense. It will gap down to $1.20 - thats not analysis, its b.s. and his predictions never come true? What has he said that made any relevant points on the company's tests, management, or growth prospects. He has been all b.s. and anyone with even a shred of brainpower would have the some common sense to ignore him. As you know, this is a long term play and over time, it will work out.
I agree. Investors expectations are too high if they are expecting huge growth, that will take some time. Educating doctors and getting them to change their habits takes time. The new salesforce will take 6 months before they start to produce any results. This is a long term hold. Sequenom reps are currently more focused on their own tests than pushing and educating doctors about CBMX's CMA test, but over time, that will change too. As key opinion leaders have said, we are approximately 4 quarters into a 12 quarter conversion cycle over to CMA for prenatal. Next few years should be exciting.
Total laboratory test volume increased to nearly 50,000 tests accessioned in the first quarter of 2014, including 39,800 MaterniT21™ PLUS tests. "We are pleased with the continued growth and 8% sequential increase in MaterniT21 PLUS tests,
Just hope SQNM salesforce is plugging CBMX test as appropriate follow-on.
Stock is cheap relative to most biotech's. New Management is top notch. Rev's, although coming from small base are increasing at an increasing rate. Current success is leading management to MORE than double its salesforce. Plenty of cash for the foreseeable future. Institutional managers buying and holding the stock, including well known biotech investor that is a recent 5% filer. Management has only very recently started to get the story out, this will take time, but as they CONTINUE to execute, should go to at least $5, imho.
Yep, nice find!
The time to do it is when the acquirer's equity is actually fully valued... not the case in this scenario. I doubt they would use precious cash to do so, since they still bleed cash. BIG long shot prediction, not likely anytime soon.
WOW, the multiple to sales that MYGN paid for Crescendo is unbelievable...
According to my research, Crescendo did $5.5m in sales in 2012.... even if 2013 re's were 3x or 4x that number, its still an extremely high multiple on sales.