I agree with you. But when I leant about INO, I sold it within minutes. You can see that stock has taken a tumble. I trust the CEO of INO (Dr.Kim) much more than Ahn. He is the largest shareholder of INO and has not sold a share ever. The Board is also impressive not a bunch of opportunists/crooks like the ones in GALE. I still have no idea whether he did anything wrong. Pearson's article being debated now. But I am very cautious to invest in a co that's mgmt. is questionable. This has helped me in the past. I may go back to INO and even GALE when the dust settles.
This is INO's problem. Lack of quality investors. This list represents almost all index funds and ETFs that do not pay any attention to fundamentals of the company.
I expect to see a more impressive list by end of this month when they new buyers of the placement are reported.
regarding balance sheet. Yes most R&D related companies have poor balance sheets. But the hope keeps their ability to raise money alive.
For MNKD, Afrezza is their only valuable product and this will be the end of the road for them as this is their third try with the FDA!
-Even an overwhelming Adcom vote doesn't guarantee FDA approval (pls see what happened to Novo's long acting insulin last year with the FDA!)
-FDA had a number of efficacy/safety issues with Afrezza. Those are the main concerns of FDA. And they want to review all data, which is not a good sign.
-Even IF the FDA approves, this will come with very restrictive labeling. That will limit the commercial success of this product.
-MNKD has been looking for a partner for years. No takers so far. (FDA approval and Pfizer failure are concerns to big pharma)
-No big pharma CEO will bet his career now doing a deal with MNKD before the FDA outcome. It just will not happen. They would rather pay a higher price after the approval.
-MNKD essentially a bankrupt company today (look at the balance sheet and the debt load and even the assets --land and buildings are pledged to Deerfield-- and they need to raise money soon).
-Investors will demand a hefty discount to the current price to buy their stock pending FDA outcome. If they do not get approval, the company has to file for bankruptcy.
-I see a scenario where this drops to $4 to $5, with a offering, than going up over the next 3 months.
-Even after the approval, the upside is limited due to the current MC of $2.5bn, debt load, and the market then will continue to focus on the commercial success.
-Is there any catalyst over the next 3 months? I will rule out a p/ship or buyout deal.
Oh GALE is still around!
Anything above $3.50 is all froth. After the dreamteam pump, anything above $2.50 is all froth. OK we are there now.
Stockwatcher and his $70 target is no where to be seen.
Danindenver is still dispensing advise to hold. Give up Jim Jones, no one seem to be listening to your #$%$ any more. Look at the thumbs downs. You cult is getting wiser ant not following the leader.
I covered my shorts today. Even a dead dog has a price. If Ahn and the BOD is removed, I will go long. I have a hard time investing in a company run by unethical people.
Remember: Anything over $3.50 was all froth, and after the pump and dump, anything over $2.50 was all froth. We are almost there. There was absolutely no reason for GALE to trade at $7.70 at this stage of its trials.
Any connection to Dreamteam with what happened?
Apparently, according to the latest SA article, there are many Dreamteam posters here!
Companies rarely buy companies with legal problems. For it to happen an acquirer has to get the legal problems behind or should be able to put a number to the legal costs. GALE is not there yet.
Eventually when the does settles and the mgmt slate is cleaned out, there can be a buyout.
Teva just had a leadership change. Their most recent acquisitions have not worked out. Teva has been mentioned as a target lately. I cannot see them being a player here.
I wouldn't be surprised if he bails out of this at the last minute or send some one else.
Investors will focus on the pump and dump scheme and Ahn's involvement and not the science or the products of the company. He will not be able to respond on this subject due to the law suits. Investors will get more frustrated as Ahn will not be able to comment.
He is in friendly territory. It was Roth who advised them on the Mills acquisition and then raised price target to $12 on the same day of the acquisition. Talk about ethics! The stock price is less than half the average analyst target price now. So far we have seen only one brave analyst!
CEO, COO and 6 Directors sell roughly 2.6mm shares for around $14mm but realize a profit of around $10mm after paying for the options. In the process, they destroy roughly $400mm in GALE's market value.
Markets are brutal and this is what it does when the public trust is broken. Blaming AF, Cramer, the shorts and the law firms suing GALE/Board is a side show. In a public company, the mgmt/Board should act above board as they are the custodians of the investors wealth and trust.
Today SEC rule 201 on short selling was in place. Therefore shorts were not very active. Tomorrow too it will be in place which makes it difficult to sell short.
Galena/Ahn libel suit against NeuVax co-inventor Constantin Ioannides got thrown out of the U.S. federal courts on 2/27 for lack of grounds.
Pls look at the number of shares they owned 12/31 and what they own today.
One more thing.
Inst investors do not look at message boards or SA or otehr articles.
They have their own analysts and do their own research.
Dan an idiot like you don't know that.
inst holders do not read message boards. They do not follow SA articles! But they do not touch cos with questionable mgmt. As it drops below $5 some will exit. $3 there will be more exits. I have nothing to gain whether it goes up or down. But I have seen this play before.
Stop trying to justify that this is a few negative posters/articles doing.
This was caused by the actions of shady mgmt.
GALE has large institutional holdings. I pointed out a few times, when the mgmt is questionable, they sell first and ask questions later.
If you think all these lawyers are wasting their time you are mistaken!
Buffett buys high quality cos with quality mgmt. Not pumped companies with questionable mgmt. An idiot like you would not know the difference.
How is my stupidity working out for you? Keep dreaming Buffett will bail you out!
For work, I invest international. I won't be writing here about those stocks. I invest my personal money in U.S.stocks.
I cannot remember where I saw this. A year ago when it was at 1.50. i tried to trade in and out of it a few times and lost out some of the upside. Now I have a chunk that I will keep here for a while. What attracted me to the co was Dr. Kim and his background. Then the team, board/advisory board. And the science. Lets hope we have a winner here. I like the board. Many people with lots of knowledge and I can learn from them.