I don't see that happening every time. Why would a "broker" with an order, SELL the 10k shares to a MM, who then sells it to a trhen bidding other MM? Makes no sense. It is all computerized and the broker elctronic order flow is matched directly to the MM who is bidding. If you add another MM in the middle who sells the 10k shares first, you add a middleman in the whole thing. Orders are electronic. The 10k sell order goes direct to the best MM bidder, here is usually NITE. NITE buys the sell order.. He buys what customer sells. Plain fact is…MM's have a market maker exemption. They don't have to either borrow shares or report short sales, as long as it (supposedly) is in ordinary course of daily market making. RGRX short is is far larger than 5,000 shs reported SEC.
Without any meaningful news, no way can RGRX go up. The MM will just sell, short and offer as many shares needed - to keep it down…likely to protect his multi million share short position. And anyone who thinks I spout conspiracy, just compare the SEC short interest (maybe 5,000 shares short) to the daily FINRA. 70% of RGRX volume was short yesterday…….81,000 shares worth. It's basically been like that for years now.. The MM is also very willing to sell and print down to bring on more tax loss selling. He's trying to get that out.
In the end the MM may be the correct one. He's been right so far, and we've been wrong. I just wish RGRX woudl get it over with…belly up - or not. Give us the news.
Volume today about 123,000. Most all of it was a downtick. 81,000 were shorted . Which means they were shorting on the down tick for the most part…and "opening" position". Funny how the SEC says there is only 5,00 short in RGRX? Scam. The main MM, likely NITE, is short several million shares at least, I bet. Another 81,000 today. They can short on a downtick. They use the MM exemption to NOT report their short sales to the SEC. They hide what they do. Basically they control RGRX as they wish. Nothing we can do about it.
Read what I said bo….I did not ever say MASSIVE tax los selling. I told fl_geezer to expect many LOW PRINTS. He was complaining about a few hundred dollar sale…or 2,00 share sale….at 4.8 cents. You will se PLENTY more such prints. I never said it would be millions and millions of share to sell…but you will see a lot of multi thousand share trade downticks. The MM's know they are coming.,…it's why we are in the 4 cent handle.
Get used to such prints. You've got the next 5 weeks a PRIMO tax loss selling season..of which there are a lot of, in RGRX. When you add in the the general market is up 20% to 25% for the year….that is a lot of gains….and that will cause a lot of folks who have leftover RGRX shares to do what looks right. Sell it and us the loss to offest other larger gains. The MM's are FULLY aware of tax losses and RGRX is prime for more selling…and they are more than happy to drop their bids lower and lower..and those prints create angst - just like you.
There will be nothing you can do for the prints you will see next 5 weeks. You seem to be with others here and just riding it out for the "ultimate". Either it goes to zero…..or they pull a rabbit out of the hat somehow and survive….for another trial somewhere.
What the F*** ?? RGRX went to all the trouble to file to SEC a delay request for 10-Q, on FRIDAY………then a couple hours ago, MONDAY…they FILE the full 10-Q. What was the delay for ? A lousy day or two wait? There was no new disclosure I could find that would justify delay. All they did was cut and paste every other scary reading 10-Q…and then they merely added in that they had $177,000 of cash on sept 30……and by mid december they would be out of cash.
Only thing that was sort of new is that they give a list of investors for each previous band aid….looked to me like McNay has bought $250,000 of the band aid deals……..We know McNAy is smart..and I am sure he is very, very wealthy…..but a quarter million dollars is a lot of money to #$%$ away. WHAT is it they wait on. Glaxo?
Last Friday RGRX filed with SEC for a delay in giving the 10-Q. They have a 30 day extension till Dec 13. I thought it strange….RGRX statd that the reason they could not file the 10-\Q now was that they have delays in providing some "disclosures". What dislcoures do they have? Every other filing they do is boiler plate. The accounting firm says that they are in trouble……and RGRX lists on every other filing TONS of boilerplate warnings of their pretty dire condition. All RGRX had to do was 'Copy and Paste" every other disclosure they and the accountant have given for a while now. So? That leads me to believe that there is some OTHER disclosure….that is not the usual disclosure they use all the time previous..and that "disclosure" is delayed for some reason. I don't think there are many "band aids" left to do here. The band aids were done to just "hold on".…until they got some piece of news they were waiting on. These latest disclosed Glaxo tests using TB 4 may have been siuch news. So perhaps the disclosure they wait ion is some word from Glaxo…will they license TB 4 and try it in heart? Or if Glaxo says they don't have interest…then I don't see anything else out there to save RGRX. Lee's isn;t doing a damn thing w/ TB 4. And Henry ford was shut out by the USPO for neuro TB 4 patent end of August. I'm not sure H.F. would proceed on something $$$, if they don't have the IP in place to protect their $$ work. So maybe we have our final answer by Dec 15.
Hey dope. I never stated it as fact GLX taking it.. I said it made sense. GLX took a while to do their in house tests.We now nknow they HAVE BEEN. RGRX had to do 3-4 tinyt band aid financings. RGRX was WAITING on something. SO? Name one other thing tat make s sense? Lees Pharma in HK? NOPE! Lee's hasn't lifted one finger on ANY TB 4 trial. What about the Neuro possibility with Henry Ford?. NOPE! I don't think so. At end of August the USPO gave a 'Final Rejection" of the multi years try of Henry ford getting patent for TB 4 in neuro. I don't think that H.F. could get approvals to spend a handful of millions --- if they DO NOT have the IP on what they spend $$$ on. So tell me, brainiac..WHAT ELSE IS IT that RGRX did 3-4 band aids for? Humm? WHAT? It was obviously SOMETHING they knew was in the works, or being studied. And right now the best scenario is that RGRX was waiting on what Glaxo did. I also stated VERY clearly, that if it is the Glaxo reserach RGRX was waiting on…and Glaxo passed afterwards…. on TB 4 after….that basically we're toast in 2014. No way can the $250,000 band aids go one forever. There was ONE thing they were waiting on to justify doing them. It looks to me like it was the Glaxo work. So now we wait and see if Glaxo bites. IMO.
Interesting, Glaxo did TWO rat studies TB 4 heart attack. To read all they did do a google of this…..Thymosin beta 4 treatment preserves hemodynamic function and attenuates hypertrophic responses following ischemic cardiac injury in the rat……..the second study at the borttom read better than teh first longer one. Seeing that Glaxo just got a big setbacl last week on the main new heart drung in trials ( a big Phase 3)…..I hope that Glaxo is scouting around for more candidates. The FDA has already approvd all the pre clinical and toxicity stuff .for human trials of TB 4. RGRX already has the Phase 1 done in humans.and it passed fine. It would seem to me that Glaxo should at least try a small Phase 2 with TB 4 to see what happens. FDA is all set to go with it, once GMP making of TB 4 is approved.…and Glaxo can do that. All they risk is a handful of millions to do a small phase 2. And A Glazo team was studying TB 4 with their own tests. My guess is this is why RGRX kept doing the hail-mary band-aids..to see what Glaxo would say when they are done studying TB 4 in rats. they are….and last week Glaxo got a big setback with their lead heart drug candidate. Time for a TB 4 gamble, Glaxo? If they do take a shot…NITE and their multi million short position at, like, 6 cents……won't look very good. If Glaxo passes on TB 4, say by bye.
Do a google searcjh on… GlaxoSmithKline heart drug misses goal in major study…it is from Nov 12. A huge dual phs 3 heart trial. The first results inconclusive. Glaxo was into this drug for hundred of millions. So we know Glaxo is targeting the heart area. If they can lose so much $$ on this drug, does it make sense they's throw maybe $10 mill out the window to TRY TB 4 and license it from RGRX? Phase 1 is done. they are all clear to go to a Phase 2 human. It might cost them $5 million to do perhaps a 100 patient study, and maybe that to license it from RGRX. For what they spent on this other drug - that seemed not so good, TB 4 might be a resonable gamble. which is what drug companies do in drug trials..…gamble.
Good find. It's possible that was what RGRX was waiting on and doing all the band aid financings. Glaxo probably wanted to do their own in house studies (not RGRX's), if they consider licesning it. The study always takes longer than you wish. So RGRX does a few hundred $ K deal every handful of months, to hang and wait and see what they find. If Glaxo likes what their own people see in their work, they may consider taking it. But question is, did what Glaxo reported in the rat heart attack tests meet the threshold of what they want as a possible license situation. I'm not sure. On other hand, heart disease is no#1 killer worldwide. Any drug that is 100% safe (TB 4 is and that is big) and shows any measurable repairing effect, would still be a $$big seller. Question is, would Glaxo spend maybe $10 million to do a deal w/ RGRX and pay for a decent sized Phase 2 trial? Phase 1 is already done. If they don't, expect a tax writeoff in 2014. And we're all done here.
you can check the nasdaq site…During 3rd Q a firm in NYC called Capital Counsel bought 100,000 shares during the Q. During the 2nd Q they already owned 10,000 she. They manage about $2.3 billion. Wonder what they heard/saw in RGRX that got them to buy 100k more?
Well, NITE isn't giving up on their position trade short in RGRX. Of the 195,000 that traded yesterday, 109,000 was shorted. That's about 55% of all volume, short. I can think of better ways to try and make money than shorting 109,000 in the 5 cents-a-share area. It also shows that NITE will do what they have to to keep a lid on it.…because they are betting on a lot more volume to be sold in next 7 weeks for tax losses. So the lower they print RGRX, the better chance of people throwing in the towle and puking…..whatever price… for the tax loss. So NITE will just offer big size to keep a lid on.
I expect to see more high volume days. The next 7 weeks are tax loss selling season. Every share of RGRX is a loss. The S&P is up about 21% for 2013……folks will book profits and search for losers to shelter…so expect more to come. The main MM, NITE, will enjoy it….as I'm quite sure they have a couple million short position. They aren't reporting it… claiming a MM short exemption. But just look at the SHO figures last couple years..someone is short 2-3 million. So look for the MM to try and get as many real lowball prints up…….which they hope will bring on more forced tax selling..and they'll take it in.
I was hoping to be done with this by end of 2013.But they keep dragging it one. Doesn't matter at this point. ride it to zero ..or survival.
They can't offer to you/us. You have to be an accredited investor, I would think. Second, there were a couple outside investors. To get them to buy, RGRX no doubt had to sign a confidentiality agreemt, and they told them just what it is (news wise) that RGRX waits on. RGRX isn't disclosing this inside information to the general public, so they can buy these band aid deals. Lasty...if these band aids were offered to us, it would need SEC registration and lawyers writing it up. All that could cost good money, wasted....when they only look for a cople hundred thousand.
I don't think XOM will ever want to buy out the 31% of IMO they don't own. IMO is dirty Tar sands. With IMO as a stand alone company, they take the enviroo wacko heat. What XOM needs out of IMO is long term RESERVES. Because XOM needs to show new reserves on it's books. XOM is not building reserves & discoveries fast enough on thie side, but they book IMO's. IMO been very strong lately. A constant and steady, slow buyer. I wonder if Warren Buffet is not around. He just took a big stake in Suncor.very similar to IMO. So Buffet is not scared of tar sands...but Suncor is at 19 times earnings....IMO is at 11.5 times earnings. IMO much cheaper. And IMO has XOM management behind it. I think IMO a better play.
The rights that Lee's has for TB 4 aren't that onerous. China isn't that big when you compare rest of world, europe and USA rights still owned (with ST having some aspects). If the debtholders get TB 4 first in a BK (over NIH)...a deal is cut with ST. Because only ST has ability for doing real trials with real money. Mgmt & McNAy woudl grant ST significant ownership of TB 4 (if they get the IP in a BK)..so ST can do TB 4 trials right and on time. ST is sick and tired of Finkestein. Fink washed their money down the drain on poorly done trials, time and time again. ST would do it right. McNay knows it. So does Fink & Goldstein. They accede to ST. And they give ST majority rights, and they take the ride with minority equity....for the handful of hundred $K they put in... WHY else would the bandaids be DEBT and not equity? because debt is senior to getting what remains of all assets in BK.
john_j has a legitimate point. You can't dimiss it offhand. By issuing convert debt, debt becomes senior to equity holders in a BK. Which possibly means all the IP patents go to them in a BK, not us. But? we also knoe that filings said that in a BK, all patents revert back to the NIH. So WHY would the insiders issue band aid DEBT, over just doing bandaid EQUITY. It's all the same, in essence. if RGRX goes BK, they aren't going to get any back owed interest anyways. I guess the real isue is a LEGAL boilerplateL one. And we don't know. In a BK, does all IP revert back to NIH automatically? Or do BONDHOLDERS have claim to the remaining IP - ahead of the NIH? if bondholders have first claim to IP over NIH....then john-J's point is legitimate. RGRX could go BK, and the debtholds get TB cheaply, for whatever they paid in the cumulative bandaids...around $1 million so far?