No. Absolutely not. Data is coming as said in the CC......BEFORE a public offering.
If you look at the 8k filed on the 25th of Jan, the notes related to the 2014 private placement were amended (extended and interest rate increased).
Thus they had to then amend the S1......which are the 26th and 28th filings.
Agree. No volume so its not very convincing, and therefore nothing to write about. Also agree with joncon though....the seller looks to be done.
"That certainly isn't setting the bar very high'
Thats a 5 bagger from here.
A 7 bagger from where the stock was at when that was filed.
Thanks for the summary. a VERY important addition:
1 thing I did not know from Thom Tulip's background: He was the "product champion" for flurpiridaz, CardioPET and BFPET's main competition (only F18 competition) from Lantheus. I think he did a great job highlighting the differences between especially CardioPET vs flurpiridaz. This was an area I was a little unsure about, but he cleared it up nicely.
In summary, (and as onebarkmill said) Tulip highlighted the fact that CardioPET can be used for both blood flow AND metabolism applications. This is HUGE. The metabolism piece is what opens the door to many more indications, and is the reason why the revenue projections for CardioPET are MUCH higher than previous projections.
I think we are in very very good hands here. It sounds like these two KNOW cardiac PET.
Boy, I sure hope so.
Not the HUGE volume Id like to see for a real capitulation, but high enough I hope.
We still have 2 weeks left in the year, lets hope those that take tax losses dont own anymore FPMI.
I think the 100 number must have come from filings. However, when this number is listed, it lists ETrade (for example) as 1 holder, when there are obviously many. Same goes with Fidelity, or TDAmeritrade, etc. There are many many more than 100, I am sure. I was just kiding around with the 10% of the total posting here.
Boy, the natives are getting restless. Management better start listening, there is already enough downward pressure on the stock.....we dont need the long and strongs losing faith and bailing.
If management is reading this message board.......I think a conference call before months end is an idea that needs to be heard. Tax selling is coming and every single person that owns this stock is sitting on a paper loss. This means any tax loss selling = more downward pressure and unless they want to see the pps at $0.10, they better speak up now.
"Does this mean they have to wait to officially sign a licensing deal until the P2 scans for BFPET come in? Or can they sign one for CardioPET and a separate for BFPET? Im not sure. That’s something I will ask management."
I asked for clarification on this and got it. I misunderstood the 8k. They are only looking at licensing out CardioPET in China, Australia and Singapore right now. The interested party asked for a right of first refusal for both compounds, meaning if someone comes along and offers FPMI a deal, this company has the right to match or beat it. So, they dont have to wait.....a licensing deal for CardioPET could happen anytime.
In addition, lets think about the market cap of this company. It currently sits at $7 million. Lets take a guess and say the deal brings in $5 million upfront cash plus future royalties for the rights to both compounds in China. This sets a price for both compounds IN CHINA (etc.) ONLY at $2.5mil each, or $5 mil total…....thats 70+% of the current value of the entire company......And only includes China, Australia and Singapore!!!!! (Think about the US market alone!!!). This is EXACTLY what we need……a way for investors to value this company. Because right now, we are the only pure play, public, cardiac molecular imaging agent company out there and no one really knows how to value the company outside of management and those deep in the industry. So, assuming this deal gets done with either 1 or both of the compounds, a value for the company can be set and the market will (hopefully) come to its senses with the valuation via the pps and adjust accordingly.
This is how I see it: they just announced that there is a VERY interested party wanting to do a licensing agreement specific to certain geographic areas (areas FPMI wouldn’t be able to get on their own anyway). This potential partner is obviously a VERY interested party.....interested enough to sign a BINDING term sheet. There is no money announced because they haven’t signed the licensing agreement yet. They signed a binding term sheet giving this company the 1st rights to license, pending due diligence.
If you read what is in the announcement, its pretty clear. Because they want to also license BFPET, they extended the DD period long enough for them to be able to see some of the phase 2 images that will be coming over the next couple of months. From someone in the biotech industry, trust me when I say, companies NEED to see phase2 data to sign deals (partnerships, buyouts, licensing agreements, etc).
What overall conclusion can be drawn from this?
In my opinion, this potential partner likes what they see with the CardioPET scans enough to want to license the product. However, they have also seen the P1 BFPET scans and want to license that product, but risk management says they need to see phase 2 data first. So, what does a company do in this situation? They sign a binding term sheet giving them first rights to both compounds with a DD period long enough for them to be able to see the P2 scans from both compounds…..which is exactly what we have here.
Does this mean they have to wait to officially sign a licensing deal until the P2 scans for BFPET come in? Or can they sign one for CardioPET and a separate for BFPET? Im not sure. That’s something I will ask management.
This is a nice turn of events IMO. I think it represents a change in attitude, re: more of a willingness to share information. I don’t think they had to share this. I think they CHOSE to share this. And as a long term investor, I find it refreshing.
A chance to buy in the teens was NOT what I had in mind when I wrote this post.
Just wanted to make that clear.