It looks like a couple of thousand shares traded in small lots. I get the feeling that someone wanted to get in before BLRX embarks on its round of conferences.
BLRX up almost 5% on decent volume. Looks like buyers want to get in before BLRX goes on its road show in December.
Obviously, they are reporting positive developments. It should bring awareness to the potential of the company and the fact that their stock is selling for virtually pennies over their cash position. Throw in the Novartis ownership/collaboration, and BLRX should be commanding a significantly higher share price.
So I guess their science and pipeline is worth 29 cents. Hmmm! Seems like a bargain to me, especially with Novartis owning over a 12% stake.
I would think Seeking Alpha would be a little nervous concerning the law suit as CTIX seems to be getting a lot of validation from the FDA.
I just added another 3K shares myself. They are hosting an investor conf. Dec. 4, I believe, in NY on their lead cancer candidate - BL-8040. Novartis has the right to co-develop up to three compounds. BLRX should get the usual milestones, but the compounds will be licensed to Novartis if successful. I like the fact that BLRX is connected to most of the best research hospitals and universities in Israel. That is what keeps its burn rate so low. With approximately a buck in cash, you can buy BLRX for less than 30 cents. Novartis bought a 12.8% stake in BLRX about a year ago for $2 a share. When Novartis selects a compound to co-develop, it will pay BLRX $5 million and fund half the cost of the research. The funding will be in the form of Novartis buying a larger stake in BLRX. There reportedly is a cap to how much of BLRX Novartis can buy, but if the price was right, I would expect BLRX would be happy to be bought out.
I own over 12K shares. I am a little under water, but I don't worry because they have a buck a share, a low burn rate, and I believe Novartis took a 10% stake at a much higher level for the right to co-develop three compounds. The way I figure it, when Novartis picks a compound, BLRX will jump a buck. A friend works for Novartis, and although he couldn't comment on the deal, he said this is the way many large pharma's are doing business now. Let the little guys do the initial work, and then the big boys jump in and reap the benefits.
It is good news. Have a great Thanksgiving, Fraz. We have so much to give thanks for living in the greatest country in the world. I have given up posting on CLDX board as I am focusing on more positive things. The current political scene is a circus that defies logic and reason. Other than CTIX, OPK, and PFE, my only other holding in the sector is BRLX, an interesting little Israeli biotech development company with around a $1 a share in cash selling for aprox. $1.30 a share. They have a collaboration with Novartis whereby Novartis can develop up to three of their compounds in the coming days. Should pop nicely when Novartis makes its move.
I agree totally. Prospects are very good, and the market seems to be discounting this at the present time. Big jump could happen in short order.
Rays, let me make it perfectly clear to you since you are such a SIMPLETON! ISIS killed innocent civilians and they deserve to pay the ultimate price for it. Even a dullard like you should be able to understand it. Probably not! :)