PORTLAND, Ore., July 22, 2014 (GLOBE NEWSWIRE) -- Galena Biopharma, Inc. (GALE), a biopharmaceutical company developing and commercializing innovative, targeted oncology treatments that address major unmet medical needs to advance cancer care, today announced it has entered into a definitive agreement to license the U.S. rights for the commercial product Zuplenz(R) (ondansetron) oral soluble film. The asset was licensed from MonoSol Rx, LLC, the developer of the oral soluble film technology, PharmFilm(R), and manufacturer of the product.
Zuplenz was approved in 2010 by the U.S. Food and Drug Administration (FDA) in adult patients for the prevention of highly and moderately emetogenic chemotherapy-induced nausea and vomiting (CINV), radiotherapy-induced nausea and vomiting (RINV), and post-operative nausea and vomiting.
I really don't think their silence has to do with with them trying to keep the moly market guessing. There are so many other factors that keep the moly market guessing. You know all of them.
I think this silence was started by the old mgmt team and the current team, being so conservative again, is perpetuating the story. Good question about what they are telling their customers. If I were a customer, and my supplier told me they would no longer be able to supply me because they were putting their mine on C&M, I'd be looking for a new source of supply.
Now that the comment period is over, the prelim date has been moved up, moly prices are up, it's time to state they are not going on C&M and that they will have enough moly in 2015 to satisfy all their customers' requirements!!!
Maybe not this CC but more likely the Nov CC. Why doesn't TC simply state their plans are to begin stripping phase 8 if and when they receive the necessary approvals from BLM. The preliminary approval is expected in Feb and the final approval in May 2105. It lets the market (and their investors) know their plans but also says it is dependent upon receiving all final approvals. (Also, let's assume the price of moly holds at least $13+ through the Nov CC). They are past the comment period. The approval date has been moved up a few months. Moly prices are up. In fact, I don't see why they couldn't state this in the Aug CC.
Good to hear. We need maximum pressure on moly supply to move the price.
Thanks for the input Ultra. I knew I was soft on expenses and it appears to be deprec which is hard to figure with so much happening with MM. If I go with 30 mm for deprec, then I'm at .08. Endako seems to fluctuate from period to period. I have Endako at $9/lb.
You're right. Close to 100mm a yr. It'll be 12/15 before they can tackle it unless Perron can pull a rabbit out of the hat. But, higher moly prices could certainly help offset that drag.
Why 2 thumbs down? The sales #s came from TC. We 've observed the metals prices over the past 3 mos. Now, the expenses are debatable. If it's thumbs down, tell me where I'm off.
I have seen 1-2 estimates on the MB. Most seem to be about .10. Analysts seem to be at @ .05. I'm more optimistic projecting .15 (before adjustments, forex, etc.). Here's how I get there.
CU - sales 21.9mm @ 3.05 = 66mm
AU - sales 52k oz @ 1250 (less RG's share) = 43mm
MO - sales 7.5mm @1278 = 96mm
plus silver and Langloth = total rev of 209mm
Prod costs = 127mm (82 at MM - trying to adjust for that 4th payable shipment and the shutdown)
Oper rev = 82mm
Less 23mm interest, 15mm deprec and 12mm SG&A = 50mm
Earnings of 32mm or .15 on 215mm shares.
I may be too optimistic. I may have missed some expenses. Let me know. Put your own estimate out there.
My notes, per Ultra, suggest Sierra Gorda will have issues with lengthy transport, dedicated power not available until '16, & experience with open pit mining. He said ramp up may be 50-60% by end of '15 resulting in 25-35mm lbs.
Reg, very interesting and commend you for digging this info up. You're right in that cu and moly are pretty much spot and au seems quite high in these estimates vs actual. Canaccord is low in their cu and moly prices estimates. But, I'm still confused re: these estimates and the pps. Last August then the pps was running 40-50% ahead of Canaccord's estimate. Maybe they tend to be very conservative in their estimates. I hope so.
If moly prices begin rising again later in the summer due to supply shortages (and same for cu), we should some solid gains. Thx for the review. Also, I remember the capex for the camp but didn't think much about it at the time given their $1.4b expenditure on MM.
Dragon, given the heavy volume here and on the Toronto exc, I'm thinking that a lot of the new shares are being sold off by companies whose primary business is in interest generating instruments/bonds and not equities. These firms need to trade out of the equity position they acquired following the tMed conversion since holding equities is not in their charter. So, we have this overhang which I guess will take a bit of time to sort out. By the Q2 CC, this should be finished with.
It really amazes me that back in late Aug the TC pps closed one day at 3.95 (had an interim high of 4+). What were these analysts doing back then. What metrics were they using. Now, all of a sudden, they are dotting each i and crossing each t and coming up with targets of C$3.00 in spite of the following good news...
MM is ramping up quite nicely according to most
metals prices are all up and moly up significantly
tMeds converted and off the table
credit rating raised
2/3 of the shorts are gone and the short position is down to 5%
the distinct probability that TC will earn more than $100mm this year and maybe up to $125mm
$200mm in cash and over $300mm by year end
and, lastly, the high likelihood the TC mine ph 8 will be stripped next year.
If the major reason for the difference in pps last Aug vs now is they didn't know about TC going on C&M, that says the pps should get a $1.00 lift once they know the TC mine will stay operational - should be more than a $1.00 lift given the moly prices today vs last year.