Well, yes, this is a serious doozy. Management never provided enough transparancy with Avid numbers and overhead for investors to make a sound investment decision. Thus the share price collapse and further brought on by ugly-inappropriate share dilution. A basic manufacturing loan would've saved shareholders a lot of unecessary pain. But that would mean a bank learning the truth. A spin-off could've put shareholders in the black, assuming they're not giving it all away. King&Co. had many years to get it together but refused.
Risk arbitrage. Common now just half of that low 85 cents figure. Reverse split and let further crater than convert to common. Meanwhile short common to protect from further preferred downside.
The more we think about this tiny insider purchase the more of a slap in the face it is to existing common's.
To the best of our knowledge King&Co. have never once mentioned Avid and common shareholder ROI in the same breath, except in terms of its profits used for research rather than needing to dilute....And we all know how well that went.
This press release would've been a golden opportunity for King&Co. to include abused shareholder ROI statement. There was none. What should that tell you?
We see even your post are down to just a few words. And the genuine Investors over there are wasting all their energies on constructed fairy tales, one after the next.
Good luck to you in whatever it is you do. Looks like the crew gets to do it again to some poor souls.
Hey Antwan, you know who invested in CYTR many moons ago and who currently holds Chief of Commercialization? Small world.
"Read the published study. When you do, you'll see the demonstrated benefit of aldoxorubicin is derived almost entirely from a significant underperformance of the doxorubicin control arm. Meantime, the aldoxorubicin efficacy results are what you'd expect to see from regular doxorubicin."
-Read various stories and you'll find a mix of mouse models to early stage trial and yet AbbVie paid $5-10 Billion with possible commercialization by 2018. We all know that's not possible.
-Defendant council made a comment that tumor shrinkage was the botched Pll pri,are end point when we know it was OS.
-Garnick comes to Perefrine just about the same time Stemcentrx goes online.
-Plll a dateless mystery with Garnick nowhere to be found. Sunrise halts and Stem gets bought out.
"In an early clinical trial, tumors shrank significantly in 44 percent of patients whose tumors made a particular protein that the drug latches onto. However, if the idea is to kill the tiny cadre of stem cells, then merely saying that the drug shrank tumors, presumably by killing the nonstem-cell masse"
"Stemcentrx thinks its chances are better than average. Its founders have recruited GRIZZLED biotech pros, built a “vivarium” that houses 18,000 white mice, and established a glass-enclosed factory floor where the company is already making its own experimental drugs. These drugs, Slingerland says, will be like “laser-guided missiles attached to atomic bombs.” The company intends to drop its payloads on at least 10 types of cancer in the next couple of years."
"Laser guided" was old Bavi MOA
"Atomic Bomb" TNT/Cotara
2018 for a drug in Pl?
"According to AbbVie, the candidate has blockbuster potential and could be launched in 2018. AbbVie intends to evaluate Rova-T for additional indications and estimates peak sales approaching $5 billion. "
"Still, Ariad appears to be keeping its eye on a larger deal. The buyout includes an option in which anyone who buys all of Ariad can gain back Incyte’s rights to ponatinib. The buyer would have to repay the $140 million, plus kick in any milestone payments Incyte makes and some more cash depending on how the drug sells. This option can only be exercised between two and six years after the Incyte deal’s expected June 1 closing date, however." -Xconomy
Always seemed strange to us that Garnick&Co. broke up P2 responsibilities. Icon could have performed the stats, for example, but instead moved on to SynteractCTR, owned by Gryphon Investments, btw. Then you had CSM that could've done Icon's work. Then there's Perceptive/Clinphone that seemed to act more like a broker of the three. Still can't get over what a mess.
"Clearly, with the sale, Stemcentrx has decided it’s not going to
try to be the next Amgen or Genentech on its own. That could be seen as an astute move by Peter Thiel, the investor who leads Founders Fund, and his partners. They and other investors will net several billion dollars in profit, but are letting AbbVie now take on most of the risk, since drugs generally fail in costly human trials.
As Thiel told us last year:
There is disturbingly little intuition into what biotech companies are worth. If you are able to produce a drug that cures some sizable disease for which there is no cure at all, that is worth billions, or tens of billions of dollars. And if you don’t succeed it’s worth nothing."
Might explain why King never once mentioned Abbvie even when it could've helped support the share price during the collapse or at least made Pll look so what legit....Because there was never any truth to it.
So Garnick's working with AbbVie on Stem's behalf dba Peregrine consultant? Very interesting hypothesis.
Antwan, what'd you make of final arguments the other day? Any chance judges rule for the plaintiff? Council mentioned the statistician by name, Syntrac, you know the one it turns out every PP shareholder relied upon one hundred percent.