Dan, I respect what you are saying, but this Board is not representative of the scientific community. I am not saying that there are not some knowledgeable posters on this Board with a scientific background that have done their DD, but most are not and it is evident by their postings. Its a free country and post what you like, but it is clear to me that you are not only trying to support the NeuVax science, but also to support the stock price. This is my last post on this topic. Good luck!
Questioning who "we" are is a great question, since I am not working with anyone else and can only vouch for me. Kudos to your son. I assume that he has also done DD on the science and thinks it has merit. Personally, I am not counting on Dan's efforts to defend the science on a MB. Science should stand on its own. This MB is horrendous and I welcome the day when its not the wild wild west for manipulating posts.
I believe in the science but am skeptical like 90% of the investors in GALE because of the actions of the Board and fear that I am missing something. I unwound a large option position after the fiasco and lost a large gain like so many other investors, so forgive me for not jumping up and down for the company. I bought a small position to keep aware of developments.
You're missing the good news.....GALE will be a better company after all this is behind them. The bad pennies will be thrown away and those that remain can concentrate on the science. Board members are pretty easy to get rid of. At the every least, you can vote them out of office. NONE of them holds a significant number of shares to vote that they stay.
Your knowledge of science is impressive. I've seen you post similar comments and am wondering if you have written to the FDA to the point out this sham. What a complete waste of time. If not the FDA, then have you written to the lead investigator - Elizabeth A Mittendorf? Do you think she is part of the charade, too?
How did GALE get the FDA to give them a special protocol for the study, no less approval for a Phase III study? I guess you don't need approval, you just do it on you're own. Or do you think the FDA unknowingly approved the study because they are made up of a bunch of dopes who cannot get a job anywhere else, anyway? A bunch of guys with high school degrees or community college drop-outs. Civil servant losers that got paid under the table to supplement their income. Am I on to something?
And why is it taking so long to enroll 700 patients using 156 locations? More proof this thing does not work. Don't just post here. Take some action elsewhere. Thanks
There are several statements that have made me wince and smirk as read your reply, " We've done sufficient research..." - who is "we"? Second, this MB does not support NeuVax since it is only an outlet for investors. I am sorry that you lost a friend to HER2 but IMO posting on this Board does not honor her memory.GL to you!
Dan, I thought that I would give you some advice since I think that you are a true long. The stock is on the cusp of $2 and cannot go much lower. Go out and enjoy life and the stock price will take care of itself based upon real news. If GALE is the real deal as you think it is, as an investor take advantage of the weakness and not try to support the stock with your postings. Responding to bashers only creates more responses and more bashing. It takes two to have a conversation and if the other party does not answer, they will entually go away.
Let's face it, GALE management has created the environment for this situation and it has to play itself out. So, either buy more shares, or LEAPS, if you want more leverage, but stay away from short dated options and being out on margin. Good luck!
Yeah, I can fault them for selling in January/February timeframe before the Q4 earnings release without a documented sale plan filed with legal. Besides for the timing, it was also the size of the number exercised. The options had a lot of life left. We'll find out if they did anything illegal via the SEC investigation, but it already sent a message to me what GALE's prospects are in the short term. At the very least, we should see some board members voted out at the next annual meeting.
The more I read these lawsuit PRs the more skeptical I become that these firms will win. They have a laundry list of allegations that cannot be proven except if they have concrete evidence concerning the authorship of the SA articles. There is no correlation between the exercise dates and DTG actions especailly since they spanned 240 days. The lawsuit arguments drawing a correlation between DTG actions and the exercises is like saying it rained because I washed my car.
Of course, the SEC investigation is more pointed and damaging if true. IMO, what is weighing on the stock price the most, is investors' realization that a massive number of options were exercised by the board when their options had many more years of life left. The sentiment, "why should I hold my shares when insiders (the board) who know more than me dumped their shares keeps ringing in investors' ears. I don't have an answer, except that management other than Ahn and Schwartz (who sold 100k of his own shares) did not sell any. Good interim data will make a world of difference in the future.
It is either an example of poor internal controls. Generally, SEC filings are handled by a joint effort between the accounting and legal departments with most of the burden falling on the former. For a Form 4, the responsibility may fall to HR and Legal. In any case, it is not the responsibility of Kriegsman to file his own Form 4. IMO, this adds fuel to the fire for the SEC investigation, even though it is not what they are investigating because it is an example of not doing the right thing related to an SEC rule.
The Form 4 should have been file in January. He exercised and sold an additional 150K stock options. It is hard to believe that they missed filing it since a Form 4 was filed on January 22 for his exercise and sale of 450K options. I am not sure what the penalty for late filing is, but I would expect that there is one. This does not help GALE's case, since it shows sloppy internal controls at the very least.
This Form must be filed before the end of the second business day following the day on which a transaction resulting in a change in beneficial ownership has been executed (see Rule 16a-1(a)(2) and Instruction 4 regarding the meaning of “beneficial owner,” and Rule 16a-3(g) regarding determination of the date of execution for specified transactions). This Form and any amendment is deemed filed with the Commission or the Exchange on the date it is received by the Commission or the Exchange, respectively. See, however, Rule 16a-3(h) regarding delivery to a third party business that guarantees delivery of the filing no later than the specified due date.
Yes, SNGX receives the option price when stock options are exercised. It is a two step transaction: 1) option holder exercises (buys) the shares at the option price 2) option holder can either hold the shares or sell them. They are typically sold one second later by the brokerage that is managing the plan. If sold, the option holder has ordinary income for the difference between the market price and the option (or strike) price, it they are from a nonqualified plan, which I believe they are.
Yes, ZIOP may have a larger market potential, but I think that SNGX is more under-valued.
Sentiment: Strong Buy
No, you're not wrong, but ZIOP has a better profile (not a penny stock, a lot more cash, better PR, XON is an active partner, better quality analyst coverage, etc.). I am banking on SNGX moving up significantly by year-end 2014.
Sentiment: Strong Buy
ZIOP is not an inferior company, but one that is different. I own both and they are both undervalued. SNGX's day will come in 2H 2014. Good luck!
Thanks for the heads up. As you know, SNGX has two Phase II trials going on and two more targeted to start in 2H 2014. The shares that were issued were minimal and a little cash cushion does not hurt, especially when other biotechs are tanking. So far, SNGX has not been affected, but that does not mean we can't be in the future.. Your $200M market cap comment in anticipation of data is the drink talking. Hopefully, after positive data, we are in that neighborhood, plus other positive news that I anticipate in 2H 2014.
You raised a very good point, but while I do not think those that exercised are stupid, I do think they are arrogant. I could not find another situation where executives that are considered insiders exercised options in January and February before a year-end PR that did not contain a footnote in the Form 4 indicating that it was part of a planned sale. Are you aware of any exercises where this footnote did not appear under the same facts and circumstances?
It would not be the first time that the accused lied to his attorney. I am hoping that it is not the case, but I am still very skeptical of management.
I listened to the call and am skeptical of his response because his credibility is shot. Like most things, the truth lies somewhere in the middle. I do not think there is a direct correlation between the promoting of the company by DTG (including the SA articles) and the option exercises, but I do think Ahn knew more about the details of the promoting than he led us to believe. The lawsuit is understandably a distraction for management and to say that it will not "impinge one iota on the company", instead of building up confidence, for me, I thought - well there is another lie.
He is human like everyone on this board, and anyone planning to unload as many options as he did certainly gave thought to what was happening in the markets, what is being written about GALE and the company risks. Let's face it, those options had a long way to go (years) and he did not have to pull the trigger in January. None of them did. If there was not a large number of board members dumping most of their exercisable options there would not be a lawsuit today.
It is normal to contact your insurance company to see if they are covered, but insurance companies do not give money away, its called Directors and Officers Insurance, not "Help I Shot Myself in the Foot" insurance.
I do hope it ends well for GALE management and I am wrong, but I don't think they are totally clean.
No, I mean unfortunately because so far no drug to-date does enough to set the stage 4 cancer back to stage 3, so the surgeons can operate.
Those looking for a fast buck have left. Luckily, HALO had 65% institutional ownership @ the end of the year and it was probably boosted after the secondary. Most of the pumpers on this board have been put in their place and talk of fastening your seat belt and enjoy the ride have been silenced. Anybody who posts that the current price creates an opportunity for a suitor is pulling your chain.