He didn't sell at $10 either... Essentially he can't sell. Doing so would damage shareholder confidence and company credibility. He owns right at or less than 3%, it is what exists from when he bank rolled the company many years ago. I believe he originally owned close to 40%. With what he has collected via his compensation package ($450k last year I think) over the long term I don't consider his holdings to be an actual investment.
You should pay equal attention to the historical market cap, it tells a different story about the company's valuation over that time. The stock price is primarily a result of poor management in the company and of it's trials. As well as terrible communication with the public about Prana's ongoing efforts and unrealized potential. I don't believe there is a mastermind at work keeping this stock down, just Kempler inadvertently doing so.
I do not have a position but I have been watching for a months. The call gave no clear short term catalysts that would help stabilize the stock. It's unfortunate but moves like these occur all the time after a strong run. Be happy the company management had the sense to raise money at a good price.
They met with the Pathway group, it's not the same as an EMA meeting. The whole point of the Pathway group is to provide guidance and speed up the EMA process. This PR suggests to me that the pathway group went over the protocol so that Pluristem's application is approved by the EMA the first time around. I'm surprised they got a meeting with anyone from the EMA in August...
Hey myop_ic, long time no see. Is CTIX your current favorite spec bio?
The reason I ask is the September 18 Options have large open interest from $3 all the way up to $6. That is very bullish. Though since I have not been watching for a long period of time I do not know when the positions were initiated, but they exist none the less. There is very little activity in the Puts and short interest is non existent at 729,000 shares.
A licensing deal selling their products which are how far away from approval?
elbit asked when "WILL" not when "COULD" PSTI become profitable. While I do not know a great deal about PSTI I do know a good bit about Biotech. It is highly unusual for a company to receive a meaningful offer or partnership prior to finishing phase II trials. The suitor will want to see very strong P2 data.
I like PSTI and think the share price is attractive, but shareholders need to be objective and realistic.