see I trusted thinking a ceo of public would never behave the way this CEO did.
didn't tell us the increasing gross to net adjustments going on in Q3,Q4. kept lying and stated in every conf call, fusilev will be unaffected by leucovorin sales....then he stuff the inventory with fusilev in Q4.....sells his stock at high enough pumped up prices of $12.5 and now behaves like this is a shock. the sob did not have basic courtesy to investors by first announcing a investor call....but released the 8k giving shorts a good reason to cover as long panicked by the sudden degrowth of 50% ..just 3 weeks back he was saying growth ...this guy is really really shady.
This shady character should be forced to buy our shares at $12.5......$8.8m
All that pumping he did so he could sell his $8.8m shares to us (suckers) at $12.5
Look at the audacity of this guy, He is attending another investor presentation on March 20th.
Wonder what the sob will be saying on March 20th.
"Spectrum management got blindsided--could be sign of incompetence,"
Yeah, right. tell that to an idiot. In probably every single earnings call in the last 2 years (so at least 8 calls), one analyst or the other have asked the question "What happens to fusilev when leucovorin is in abundance"
In answering that question in every single call the Liar lied "Fusilev sales will not be affected by leucovorin. The generics will compete amongst themselves...."
At the end of last year alone Raj sold $8.8m worth of stock. This guy smells of dishonesty. Not once did this guy ever talk about a material issue b/w Aug to December about the increasing 340b discounts due to the changing order mix and how that is materially increasing gross to net discounts. Remember 340b discount is 50% markdown. Instead this guy keeps stating "Fusilev sales will grow"....oh he actually meant "volume sales". What a dishonest guy. Loots shareholders money.
you said:It is a noise and nothing more.
$80m was lost in this racket of feeding false and misleading information to the public. You must be leaving in a different world to say this is noise. $80m will need to be returned by spectrum to its shareholders in the class action period to make up for their loss.
Since he sold $8.8m stock in q3/q4, my suspicion is Raj may do some drama and try to buy $1m worth of stock. But this is drama. If he really was truthful when he was pumping this stock, he should use ALL those shady proceeds of $8.8m and buy the stock.
you said: You don't go to court on hear say .
You are either dumb or what i call "inebriated long"
Pls read my posts on statements about Fusilev as recently as in December when Raj sold all his stock. Pls read my posts on lack of statements on 340b rebates or the increase in gross to net adjustments.
THIS WAS A WELL HATCHED SCHEME. Whoever was involved in this scheme should be brought to books. Thats all I am asking.
agree 100%. i personally dont trust their financials. i dont give much #$%$ to their talk on apaz . i believe this could be another b.s to artificially prop up the stock. i think the fda panel will likely reject apaz. i don't believe in their zevalin $300m b.s that has been going on for last 2-3 years. listen to may 2010. in short u you have a guy at the helm that is completely undeserving to be a public officer. what is the joker going to say in the mar 20th presentation
string - i seriously think you are a sucker. dont believe in all the b.s that raj says. can you ever believe why one would be so confident in stating "Fusilev sales will NOT be impacted by leucovorin supply is back". What makes a ceo of public company with public investors give out repeatedly such statement ? of course we all know he had to sell $9m in stock before December... why didn't he disclose the increasing trend in 340b in q3 or q4 in any of investor presentation went ? all he was talking was growth in Fusilev in those presentations. Wouldn't the piece of 340b be relevant. The only conclusion i can draw is Raj is undeserving to be an officer of public company...no word from his mouth can ever be trusted.
(fact; he did have conf call to institutional longs that are bulk of sppi ownership , by the way........so that refutes your point imho, to a large degree).
The least they could have done was "Announce an investor conference call before releasing 8k to create panic to help short covering in this scheme". Explain in the investor conference call what had transpired and then released the 8k. The liar ceo goes to a dozen investor presentations, he knows this. he owed it to you guys investors...but he didn't . which makes me very suspicious . Instead they did almost private cc with credit suisse...it was not even announced. this is for a company that does a PR when Raj coughs.
Raj in addition to selling $9m in stock. Received $0.9m in cash salary and $1.6m in cash bonus...after artificially propping up stock price on the sustainability of Fusilev sales....that Fusilev sales will be unaffected by generic leucovorin ....no word of increasing 340b rebates or the increasing clinic consolidation with hospitals and how that is increasing gross to net adjustments, from him in any investor presentations
On December 19, 2012, the Compensation Committee of the Board (the "Committee") determined that the Company materially accomplished all major goals established at the outset of 2012. The Company has exceeded its strong 2011 performance and is different from its peers as one of the only profitable and cash generating oncology companies of comparable size. With three marketed proprietary oncology products and a portfolio of pipeline compounds, including two late stage products, the leadership of a strong management team has the Company poised for future growth. The Company continued in 2012 to build value for shareholders, mature its late stage drugs, and help patients, as tens of thousands of patients with cancer this year have been treated with drugs that the Company markets.
my guess is accounting fiasco on gross to net adjustments in 2012. and restatements.....and stock tanks to $2.
"and he is 70 years old he would not risk going to jail the rest of his life"
JAIL time is possible. criminal investigation is likely here.
but there are huge corp governance issues. Can anybody trust their filings ? the CFO is a puppet of Raj. Whatever comes of Raj's mouth can never ever be trusted . He has been wrong(or lied) on everything....from Fusilev to zevalin. If they announce after the market, their financials for 2012 need to restated, stock price will be crushed.
btw they will soon need to raise cash.
this is a fact. hedge fund new this scheme from the beginning. they were certain about the ending from the beginning. whether Raj was involved in continually pumping and stating fusilev is unaffected by leucovorin supply so Hedgies can short at artificially high prices of $12.5 needs to be looked at. Raj is one greedy #$%$. He can do anything for money.
These were the 3 main wholesalers. Could buyers in these companies be bribed by Hedge funds to create a SHOCK and AWE scenario where all these buyers together don't order Fusilev for that 1 quarter ?
Did the buyers get any Kickback from Hedge funds to do this ? How much of this Raj knew ? These are items that need to be investigated thoroughly before lining up one by one for Jail.
he sold $8.8 million dollars of stock at high prices $12.5 while release false information to the market on the outlook. i think their booking of provision of gross to net discount is also screwed up in Q3 and Q4. i personally think they will have to restate financials.
Raj is safely sitting after cashing out $8.8 m of his stock by pumping misleading information to the market.
I will be happy when the people that perpetrated this fraud go to Jail. They need to be held accountable.
i guess you live in a different world. the shorts racket fetched them $80m. somebody aided and abet them.
the financials of this company can never be trusted. they have still answered roll forward table does not match the gross to net discount in the financials. I think that bret scott guy is a puppet under Raj. In fact Raj does whatever he wants to. Look at how many people he has fired in this company in the last 5 years. This guy is extremely shady.