When Encysive was sold to Pfizer in 2007-08, they had hired Morgan Stanley about more than six months earlier to explore options. As revealed in SEC filings: 1) send out over 100 pitch books to prospects; 2) dozens of prospects respond, some asking for additional information; 3) about 12 companies signed confidentiality agreements, entitling them to examine in detail all the trial data, patents, and other pertinent information in secure rooms. In the case of Encysive, secure locations were in Houston and London. 4) First round of bids solicited, followed by 2nd and third rounds, until two or three bidders were left.
Since PHS has enough cash for up to a year, they may take their time finalizing a deal.
Look at CERE. Volume dried up and many sold on the cheap before surprise buyout by Land O' Lakes. Negligible volume for SPHS today means nothing. The Market is preoccupied with options expiration today. SPHS has NO options to trade.
Sophiris has almost certainly accessed the Aspire line in the last few days. This does not hurt buyout or partner chances. SPHS is smart to sell shares above $2 to gain additional cash and bargaining power; after all, the last stock offering was only priced at $1.41
Reasons: Fidelity filed announcing their shares reduced to 2 million and below 5 percent; R/S could be announced after today's trading session, taking effect starting Monday
Per SEC filing a reverse split of between 1:3 and 1:15 was approved. I expect the R/S to be announced in days and will probably be about 1:8 or 1:10 max. I hate R/S, but a low float coupled with good news could boost the stock price.
One of the directors recently bought stock on the open market per SEC filings. Sunesis partner Takeda has recently been doing a lot of deals. Usually after ASCO in Chicago, new deals are struck. Many potential European partners for Vosaroxin are in Chicago.
The 120 day questions obviously are softball lobs; otherwise, why would SNSS add a clinical VP? This stock has been beaten down incredibly, as has dozens of micro biotechs. Future partnerships are likely, possibly with current collaborators Biogen Idec and Takeda.
When the S1 came out and the 12-month results were delayed I contemplated bailing. Why wasn't a deep pocket player partnering with STEM. Why did the former CEO "retire" on the cusp of great things? The news stories coming out were VERY optimistic. The company said stem cells had a life of at least six years. Who would have thought that young 6 month patients lost ground at 12 months! I can only speculate that their bodies' natural defenses were turning on the stem cells.
Releases very promising reports, but issues an S-1, as if they are not going to find a partner to fund the $40 million study. First quarter conference call is way late.
At least the S-1 apparently gives individual shareholders the right to buy into any future stock offering without any warrants attached. I hope a positive 12-month PR doubles the stock price before pricing of an offering.
I was very disappointed to see STEM's S-1 filing. Major companies should be lining up to partner with STEM in a future market potentially worth billions. Another example of self serving management.
STEM, please do not take the foolish path of many microcaps in trying to go it alone. Get a partnership NOW with ample upfront money and the partner paying all future costs. If you have to, make it a 50/50 split. Shareholders will be richly rewarded.
With a prominent partner and positive study results in late 2017, the FDA could forgo a phase 3 study and invite STEM to file for approval. The lobby for paralyzed Americans is large and influential.
The market is asleep as to STEM's potential. At a past conference management indicated that stem cell injections are active for at least six years. Why does the market expect an overnight cure when gradual ongoing regain of muscle function is big news? Athletes often have surgeries that sideline them a year or two and that is accepted. Years ago I had detached retina surgery in Chicago. The first operation was unsuccessful, the second one did not appear to be successful. The day before I was to leave for a retina clinic in Boston, my body decided it was time to work its magic. My retina was detached for four months, but I did regain useful sight in the affected eye.
The six patients had older injuries, yet still improved and may for years to come. The new patients coming into the study will hopefully include ones with more recent injuries and be better candidates.
If stem cells can help the patient profiled on CBS, who had his injury April 2013, think what can happen with a recent injury patient injected with stem cells. It is not surprising that sensation in Jason's lower extremities is showing more gradual improvement: the feet get the least amount of blood supply.
There is a high probability that most of the patients will show continued gains between 6 and 12 months. The stem cells are waking up the body's healing process. These patients are young and better able to improve. I had a friend in his late 60s who had a foot drop from a spinal injury. He thought he would never recover, but he did-fully, in his early 70s. Youth may be wasted on the young, but not in spinal injuries.
The amazing thing is the patients had injuries years back. In the future stem cells may be injected within months or even weeks of a spinal cord injury.