As multiple people have said already on this board, the warrants could bring in necessary cash needed:
The warrants have a per share exercise price of $1.4375, 125% of the public offering price of the common stock, are exercisable immediately, and expire five years from the date of issuance. In addition, InVivo has granted the underwriters a 45-day option to purchase up to 1,862,250 additional shares of common stock and/or additional warrants to purchase up to 913,250 additional shares of common stock to cover overallotments, if any. The offering is expected to close on or about May 9, 2014, subject to customary closing conditions. -
Obviously, with the closing price today, they are already in the money.
Let me take a stab at this:
If you own less than 5% of any publically traded company, you no longer need to file anything 13-g or whatever
5% requires once a quarter to report your holdings or
if a major position gets increased or decreased in a publically traded company
In franks case, fully diluted he actually owns about 5% now, so I would say he is border line
If he is holding his stock, and no change occurred since the last filing in Sept. then I believe he will still need to report sometime this year, i.e. in the next week and a half
If not, I would expect to see something filed in the first month of Jan 2015
Many people on this board said it was a good year. Here's why its not, by yours truly, dogs--
So we started the year climbing to over 2.25 in share price
then went through another CEO change December into January, Perrin
who's first executive decision was to dilute the #$%$ out of us at 1.15 !! REALLY 1.15!! And gave away warrants at 1.43
then got a new CFO
New general council to handle all the lawsuits from Frank Reynolds days
then delayed a shareholders meeting, for what? because we thought we were going to enroll the first patient?
Laid off a boat load of people
Cancelled the hydrogel program (or the correct way to say it is "put it on hold") yea that sounds better
Announced every site we signed on with a press release (waste of money if you ask me), doesn't it cost the small companies 300-600 dollars to issue a PR?
hit a new all time low in the 40 cent range
then waited, and waited, and waited...finally got our first patient in mid-October
Patient shows real progress, but Perrin keeps his mouth shut
Other people start interviewing the guy on the progress, but the company says nothing
Good year guys, great job!! Horray!!
The best part is, we are closing to close in the low 1.30s for year end
Managed to speed up the trial process
Got the first patient enrolled
Patient showing progress, but what we have no clue, have to wait for 2015
Diluted the #$%$ out of us so they could have enough funding until Mar 2016
How the attitude has changed in 24 hours, and the stock is not even trading, lol
from cheers to doubt so quickly, let me ask you all this: If it was a seeking alpha article would u believe it more? Anyone can become a seeking alpha contributor, even I am at the level where I can create an article, all I have to do is complete the profile. Either way, we will find out soon enough from the company this time. Its up to you to buy or sell Monday, I am holding either way, unless this pig hits 10.
Some of the insider filings indicate that they did purchase shares at market price and received stock options, while others indicated stock options only. The timing here is weird considering it is year end, as most options especially in pharma are given in the new year (as plans are approved by the board, for new budgets etc..), however I understand they can be given anytime even on Christmas. Here are some flags, insiders well know the information here as it is an open label trial, I believe they are setting themselves up for a massive gain, based off the information they know, which is why they options were granted now, rather than the new year or even after the 90 day assessment. We all know that based off of Jordan's mother, they he recently had an "assessment" of some sort. This flagged management to lock in low prices now before the news broke (media or barrow/invivo release). The tricky thing is what is determined by significant progress? Is getting back the feeling in his legs significant? who knows--If I am wrong, believe me, I don't care what my street cred is on this message board. If I am right, I probably will say I told you so, and have a big smile on my face when the stock soars to double digits. With oil and the rest of the market tanking..this still has one of the most potential gain on a per share basis as recently seen with Bluebird. Think about it for a minute, if you can get people to walk again, instead of being in a wheelchair the rest of their life, put a stock price on that. I know its a stretch...but it is a real possibility.
To wrap up--I am saying yes, management knows, they purposely granted themselves options now rather than later, and a news release will be coming in the next 30-45 days which will bring positive news on Jordan. I tried private messaging Jordan's mom on his progress with no replies, not sure if she signed a NDA or not.
big deal, they pay his housing for another year, that has nothing to do with what got inserted into Jordan's back, any business monkey (no pun intented) could get us to this point, except Frank of course, lol
Or at least that is the date they announced when they took the first patient, I would suspect some news before year end if positive, at 1 per share, its a cheap bet
one last word on this--then let's let it go--my take is Enroll 1, wait 90 days, no data, enroll 2nd right away, wait 90 days, then approach fda with data from 1st 2 patients to convince them to open enroll 3-5 simultaneously. That is only if the data from 1 and 2 are good or show some kind of benefit. That's the timeline I understand it to be. But I stand pretty firm on rolling into patient #2 with no data submitted after the 90 days is up
the only restriction is that the patient be monitored for 90 days, period. Then the enrollment opens for the second. You are wrong on this one. Mark this post somewhere
I believe you are 100% wrong on submitting the first patient data to the fda to enroll the next, regardless of the outcome with the first patient, the next patient will enroll. On or around Jan 15, 2015, the company will announce that the next patient is open for enrollment. Wait and see my friend...
Here's one for you, with the surgery taking place mid-oct, where does the recent assessment that Jordan's mom talk about fall into play? we obviously passed the 30 day, and discharge, we are not at the 60 day yet
its possible, not likely, but possible that after the last update by the mother, Barrow made her sign a confidential agreement about Jordan's progress, to say that all progress be released by Invivo/Barrow, not sure here but just a stab at it. The thing where it gets sticky is that this is an open label trial, meaning progress should be announced when there is news or "progress". But, the reality is, investors should not be checking a go fund me website looking for progress in the first patient. I think Perrin got a slap in the face when Barrow released the info from the 1st patient and the press release no less than 30 days before that said something about the highest level of patient confidentiality, etc...Overall, I think we will hear something after the 3 month update, or sooner depending on progress, it might be a good Christmas after all 5+ would be a nice gift. By then the 60 day mark would have passed. Of course the 90 days is middle of Jan, if no news shortly after that, then I expect to be back to the 80-90 cent range, with second patient enrolling 2x faster than the first, which would give it 3 months instead of 6 with the addition of new sites. Mikeconfer is wrong, they do not need to submit any data to the fda to get the second patient enrolled. To open 3-5, they will need to submit somewhat convincing data on the 1st 2 patients. Let's go further, if patient 1-5 can all walk, I would assume the road to approval would be quick one, small trial 20-30 patients instead of 50+, with accelerated approval no doubt.
Sentiment: Strong Buy
all--honestly, couldn't I create a "dirt bike rider message board" and post up pics I found of Jordan and say he is responding to tickling? I just can't believe that this post got 11 replies for a "link?" When the news hits, it will hit