What's the point? If you like this company and are considering buying, why worry if it's at .38 or .40? There is not enough of a difference there to matter.
I would say, don't buy unless you believe it will be $.70 in three months and $1+ in a year. If you believe that, getting in at .38 rather than .40 doesn't matter.
"Or spin off the Opthalmology franchise in a cash and stock deal."
I'm surprised you would be favorable towards this, unless they got an awfully lot of cash and stock for their ophthalmology franchise. I have been thinking that ophthalmology is one of the biggest, if not the biggest, things in RXII's future. Spinning that off would be like you or I spinning off a lung, wouldn't it?
Of course, the company knows what it is doing and I wouldn't second guess them in this regard. If they thought it was to their benefit to spin off ophthalmology, okay.
You are far too paranoid, red. You also take yourself way, way too seriously.
Anyway, even though I am not a short--and even though today ended with an apparently bottoming candle (bullish)--why shouldn't shorts be answered and have their views considered? You are a long and want your views to be considered and discussed, don't you?
A close at 5.40 or below would be a technical breakdown--it would be below the bottom of the recent up trending channel. We would still be well above the golden cross point and above the 50dma. 50dma is 4.90 and golden cross 4.40.
How likely are we to really drop significantly from here? Not too likely, imo, unless volume on the downside increases dramatically. One worry: The general background market is showing signs of fatigue.
6 remains very strong resistance and a sell there should be safe. I see no reason to believe the stock would run away from you any time soon if you sell at 6. As for a stop sell on the downside, I would say 5 if the volume is fairly heavy.
I am long this stock and believe that it will be higher. Still and all, marksch does bring up some good points. Except for the relatively few shares bought by the ceo last fall, there has been no insider buying. There has been precious little if any tutes or funds buying. Every time an attempt at a rally has occurred, it has been beaten back with a vengeance.
Fundamental analysis of what appears to be the science is good and important. It is also important to note the apparent lack of confidence in the science by the investing public. Why always deride posters who point out facts that suggest there might be something the bullish fundamentalists have overlooked?
There are plenty of bullish posts here. Why are you so afraid of items that call the bullishness into question? Marksch raises legitimate questions that can legitimately be addressed.
We have had a week of bad market action. Nothing up and the past four days have all been down. Looks bleak after all the conferences and seemingly good promotions, right? Maybe not so bad.
The up-trending channel is still intact. We closed today just above the bottom of the channel, after breaking down intra-day. Relatively light volume today and, furthermore, we closed almost precisely at the open and in the upper half of the day's range. It was a neutral or slightly bullish day.
There has been no bullish market action to speak of; however, the bears have not really taken charge either and they seem to be losing their grip. THERE IS NO NEED TO DESPAIR. We could well decisively break through the strong resistance at six and scoot on up. Or not. Time will tell.
P.S. Maybe the ceo will stop making speeches. Every time he does, we tank. [Just kidding. It is not his fault that people are ignoring what he says.]
Stock is breaking out on big volume. PGLC has very little resistance (almost none) above here. The key was about a week or two ago with the "golden cross."
Where are our erstwhile bashers now?
By the way grabbngo, I think that the deal you are talking about should just be considered dilution period. The pie will be divided into more shares and that is dilution, to my mind.
Okay. I get it. Thanks.
I consider you and biotechpicklist to be the gurus here.
Do you or biotechpicklist or anybody else have any idea how much $ they intend to raise? I will figure $6 per share in my crunching.
Note, if insiders agree to sell their shares in a private transaction to the funds, as I understand grabbngo to say, the company will get no money, only the insiders who sell will. Furthermore, the liquidity would not even be increased much because, presumably, the funds would be as reluctant to sell their newly acquired shares as the insiders have been up to now.
Doesn't answer the question grabbngo. The money for those shares would NOT go to the company but to the insiders who sell them. How will that help fund the ophthalmology studies?
biotechpicklist reported that the company has four large funds that are prepared (or nearly prepared) to buy offered stock at or about the current market price. This can and will, biotechpicklist suggested, be done without dilution. grabbngo suggests that it will be a kind of private transaction whereby existing stock will be sold to these big buyers. I don't see how.
There is no indication anywhere--not in the 10K or the 10Q--that the company itself owns any shares, let alone a sizable number of shares. Where are the shares for this sale to the funds--and the resultant inflow of money to the company--going to come from from if not by creating more shares and thereby diluting the current shareholders?
If anybody knows, I would be absolutely delighted to hear. I am not proud and if I misunderstand or can learn from you all, great.
I find no company owned shares (that could be sold to funds to raise money) listed in the 10Q. I still don't see how the company could sell any shares w/o creating new shares and, thereby, diluting.
Okay grabbngo, is this the idea?:
The company currently owns a considerable number of the 13,000,000 issued shares. The company owned shares are treasury shares, meaning they are assets of the company. It is those treasury shares that will be sold to the funds. Right?
If so, good. I will look at the 10Q and 10K to see if I can find a record of such company owned shares among the 13,000,000 outstanding shares. I never noticed such a thing before.
Did you read my post? The point is that if it is not a dilution (as biotechpicklist says it is not) the money from the funds' purchases would not flow to the company--the money from the funds' purchases would flow to the sellers of the stock.
Please read carefully, red, and address yourself to the issue. You seem very anxious to be insulting rather than being helpful. Get a hold of yourself man, you're losing it.
How would this enable the company to move forward with its ophthalmology pipeline? From what I gather from your post, it wouldn't be a dilution and, therefore, I don't see how it would benefit the company. It doesn't seem to me that any money would flow into the company.
Still, it would be nice for large funds to soak up all available shares. That would put upward pressure on the market price. Maybe then, after the price moved up because of scarcity of shares due to the funds' purchases, there would be a dilution at higher prices.
Well, that's what I make of the situation. Am I way off base?
I don't think it is necessary to sell here. If it drops to $5.50 on fairly high volume, I will sell and wait to see what happens. A sell at 6 would not be unreasonable. 6 has become very strong resistance. If you have something else you think is more timely, a sell at 6 would make sense. I believe there is plenty of time to get out at 6 and to get back in before any take off.
I might be wrong but I do not sense any strong interest in this stock at this time, and there has been ample promotion to generate such interest. It is likely a very good long term prospect. Short term? Not so much.