Check the message history and answer your own question.
If there were any truth to that we wouldn't be trading at $0.28 and Pfizer wouldn't be sitting on their hands with respect to the option. In fact we wouldn't even be having this conversation right now. There is still hope there is something there (and with iSONEP for that matter) but nothing is know at this juncture other than that both Phase II studies were failures. Unfortunately not a great indicator of value right now.
I don't know what I don't know - Same as always. If Pfizer weren't involved, I probably would have moved on already but they have everything to gain and absolutely nothing to lose if there is anything salvageable in the data so why jump? As I said before, this is already a write-off. Thirty cents here or there just doesn't mean anything and you can't use losses until the end of the year anyway. No hurry.
I will agree that to date, management (including Scott) has done nothing but waste money and destroy shareholder value. I blame them for everything that led up to this announcement but I can't really blame them for the announcement unless there are errors and if there are they should be held accountable. They are also out of dry powder so absent dumping more shares on the market via the ATM (for peanuts), there isn't really much more damage they can do. So I wait. Worst case scenario, my write-off is a little bit bigger when I get to use it.
Quote: "By the way, if it turns out the vials were filled and labeled correctly and there were no irregularities in the trial; if it turns out that iSonep is completely bio-inert rather than bio-active, which is what Nexus preliminary data seem to indicate, then I find myself agreeing with those calling for the board, scientists, ophthalmologists and perhaps ex-CEO to stand up and clarify exactly what went wrong. The entire field of bio-active lipids is now under a shadow. No way to comment on Lpathomab until we find out what went wrong with iSonep and Asonep. Those responsible owe investors an explanation, not to mention the patients who subjected their eyes and cancers to these treatments. Mr. Chairman, we are waiting for your conference call to begin." Not sure what your definition of spurious is.
I wouldn't put anything past these guys based on history and the desperate spot they are in but I am not sure how much any of that noise would actually net them. I think the current market cap closes them out on the ATM so I doubt there is much there. The only reason to do a reverse split would be to give us all partial shares, buy us out and to go private with a few major holders willing to pony up more capital to see if there is anything in the scraps. That' is possible I guess and probably even likely if Pfizer bails and there is someone interested in putting more money in.
Basically the way I see it for us is we are all or none with Pfizer or a follow-on suitor/partner of some sort. If nothing materializes with that I would expect Lpath won't exist much longer in its current form. If we're still here at the end of the year I would be very surprised. So to arrigo12's comment - riding it to zero.
I was told everything was done by an accredited GMP laboratory and approved by Pfizer. No idea who but it seems like we were given that info at one point in one of the calls a write-up or a press releases. One could probably find that information with some searching. I was also told they might try to exam some of the retained vials to see if there is anything they can find there.
I have a question into The Company recently asking if they have any idea of when we might get an update. Have not heard back yet but that's not abnormal. Gary's responsiveness is hit and miss and who knows what is going on over there right now. Probably quite a mess.
Company finally responded. They are doing a final review and getting sign offs. We are apparently two or three weeks out for answers. That being said, I was told they do not expect any changes to the top-line results already announced. Not sure what that means exactly but I for one will be looking for a detailed explanation for the sharp contrast between the Phase I and Phase II results.
It is very telling about the state of the US markets watching the transition this MB has made since the iSONEP announcement. Right up there with the ever shrinking food packaging and stuffing animal protein with as much water as it will hold and selling by the pound. We are a country of used car salesmen with zero integrity who legally lie cheat and steal for personal gain. All about me. Disgusting.
My top questions are:
1) What was the driver of the discrepancy between Phase I and Phase II results?
2) What happened with the control group?
3) What is Pfizer doing right now?
4) What is their plan for a way forward?
5) What are they working on now?
If they skip, skirt or shrug at any of those questions on the call, I for one will be a very upset investor.
On a side note, I tried to pick up some shares today at $0.25 and was somehow traded around all day. Only got 350 shares. Waste of fees. I have a request in to my broker on how this is possible given the number of shares traded at that price. I received them in two lots - the first 75 shares around noon and the rest close to the close. Makes no sense unless someone is gaming the bid/ask.
No way to know what they are doing until someone tells us Charles. In the meantime, LPTN is being churned like I have never seen before. With the low float here, if that many shares were actually being bought we'd be at like $10 now. I hate bottom feeders. Purposeless imps.
1) Why iSONEP results were so far off Phase I and why the sub-responder group responded much better than anyone would have thought
2) What is happening with Pfizer
3) Update on ASONEP. There were survivors at last update.
4) What is the status of Lpathomab. They were waiting for FDA approval to start Phase I.
5) What is the way forward from here if Pfizer opts out or lets the option expire.
I recontacted Gary today (have not gotten a response) but if you do the math from the week following the 26th and remember the company is painfully slow with information, the call will likely be next week. I would be surprised if it is tomorrow. In reality it should be Monday.
If that's true, my read is they are hiding something because I was told more than once that they were. If they are not having a call then they better be prepared to answer questions because "current state of affairs" is unacceptable.
Pfizer has not communicated their decision yet. We don't know anything new. The company has no money and negative results on iSONEP. They have no choice but to mothball it if Pfizer bails. Again, nothing new.
I think this goose is cooked Charles. There's nothing left except an empty purse, a string of failures and a detached board and management team. I don't see any real value here for current shareholders unless you are willing to continue to double down and don't mind a very slim chance of any payoff and likely serious dilution in the near term. I personally won't be wasting any more of my time or money here. Trials aside, this is the worst investment I have ever seen from every possible angle and if there were any sort of system of accountability in the US, possibly due an investigation. I now call this one a sell. Very unfortunate.
It isn't necessarily about opting in. And the current market cap/price is completely irrelevant for a buyout. The company (we) can refuse any offer except the opt in of course and we the shareholders have to vote on any offer and the board has to approve it. Also if Pfizer started trying to buy shares in the open market (which they would never do anyway) the price would shoot up so fast it would far outpace the cost of the option for them to get a majority vote. They can't steal the company plain and simple. Doesn't work that way. I do however agree with you that capital will eventually be an issue unless they find a partner but the Pfizer decision will be long over by that. Repeating a repeat - no hurry.
Quarterly payments are "estimates" like you said. Taxes are calculated once a year. I don't play quarterly games - especially with LT capital gains. As I said, there is no hurry.
Why is it none of you talk to the company? If what has and is happening so unimportant to you why are you still holding shares?
They just got all of the data in at the end of this month ( I just verified this with Gary yesterday) and immediately passed it to Pfizer as well. Clock started ticking on the option then. It will take a few weeks for them to get through it all and they will have a call after that.
As far as the shareholder meeting goes? Complete waste of time. You're not going to get any information on the trials before the call. I can't even get them to tell me the occult/classic split but he said they do have that info now and it will be shared on the call.
It will be straight to business with no questions and they'll kick all two of you out the door with your cookies and milk in hand as soon as they are done.
Last hand out from me unless someone else starts adding something of value here.
The question of the day for me is what happens if a mistake is actually found? I see long chain of lawsuits and a lot of finger pointing.