That's great news....now the WHOLE cow of all TB 4 is worth $40 million....after this 23 cent drop. The mere "leg" of TB 4, owned in Korea, is still worth about $350 milion
Gresat real life exampleoif the Finkelstein Discount........he's not just "A failure to communicate"....he's failed everywhere.
Good for you bo, to step up. if Mr. Won Yang of G Tree was also named CEO of RGRX, I would step in and buy too...but I just can't buy more..I've a lot already......as long as Finkel remains in charge. The Finkelstein "curse and discount" is true. G Tree owns a smidgeon of TB 4 and it's market cap is worth about 800% more than RGRX's, which controls so MUCH more of TB 4. Investors applaud Korean management....investors puke at Finkelstein's management.
I've long had donkey on ignore. But I do see his ghost headline about RGRX insiders owning 60%. Tru and not so true. Insiders only are G Tree with about 19% and RGRX mgnmt with about 10% or so (depending on options & warrants). Insisders really only own about 29% of RGRX.
The other large owners are entities of the Cavazza family. Sigma Tau was sold last year. Sigma Tau no longer owns RGRX. before the merger, the RGRX shares were carved out to a few Cavazza family controlled entities or trusts. The older founding brother of ST died a few years ago..I assume his RGRX shares got transferred to other family members, estate or trust somehow. Cavazzas have alsway been astute on setting up such entities.
NOW. the FACT is that ALL these Cavazza family holdings in RGRX are NOT DEEMED as INSIDER holdings. Mauro Bove was a senior manager at Sigma Tau. ST put him on the Board of RGRX. But TWO years ago, Mauro Bove left (or retired) from Sigma Tau. he is no longer connected or employed by them. he is on his own. he stayed on the RGRX board. So the truth is, the Cavazza family's 30% stake in RGRX is NOT bound by any "insider" restrictions. the Cavazzas have NO one representing them on the RGRX Board of directors. They too are in the DARK! Cavazzas can do antything they like with their 30% stake, anytime they want, and my hunch is all the extended family members/owners of the 30% stake...after 10-15 years of watching RGRX go down the drain and $105 million #$%$ away by Finkel..would be MORE than anxious to take a reasonable offer to GET OUT. Just like I would. Someone, please take the COW of RGRX..$53 million value. G Tree $350 million?. IMO, Cavazzas want OUT too! Call NVS!
Bottom line is that RGRX is the COW and G Tree is just a "leg". Why is the leg valued at $350 million or so, when the whole cow is valued at $53 million? furthermore? if G Tree is out to show their sharehlders success, in what they invest in..why isn't G Tree PUSHING hard for the whole COW of RGRX to get sold..all heart and neuro rights and other country eye rights? because G Tree bought 19,000,000 shares of RGRX at 15 cents a share! G Tree should be pushing for a buyout of RGRX by the likes of NVS! G Tree can work a deal with NVS after on the percentage ownership of US rights for eyes, if NVS takes over all costs and trials henceforth? NVS has pros on trial design. They know eyes better than G Tree or RGRX. And NVS has had dealings with ORA.
And quit harping on stupid SCLN. Sure I lost, but I made it ALL back and more. You act like YOU, almighty bo, have NEVER LOST A PENNY on a stock? I ownd tons of others stocks and have done quite well. I just want out of RGRX. A decade of finkelstein is long enough. At least where we are, I am break even....
Duhhh.....hate to be a meanie beanie....but "earth to bocamp"........ G Tree IS TB 4...regentree is UNDER G Tree... G Tree was a NOTHINg company until they sold division and they "Found Jesus" in biotech. It was KOREAN GOV'T that funded MUCH of G Tree....regentree ..WHATEVER YOU WANT TO CALL IT!
WAKE UP! GTree has a MARKET CAP OF $375 million! THAT IS NOT from the one silly "computer divison they have......or the silly "video production" entity they sold. G Tree IS ONLY AT $375 million marlket cap (UP almost TEN FOLD???????) from TB 4. "FACT" is facts and they are way too often stubborn to YOU. NVS will NEVER pay a premiunm OVER the market cap of G Tree $375 million. I don't care how you say it that...... rengentree is a "subsidiary" of G Tree. MATTERS NOT! As of now, TB 4 is the ONLY WAY THAT G TREE GET's $375 million market cap. And NVS will not pay that, imo.
RGRX is the steal of heh century..if TB 4 works. RGRX owns the COW....G Tree owns a leg only........G Tree is nothing BUt TB 4...and it is valued at $375 million - EVEN after the trial result. RGRX has FAR more TB 4 applications owned 100%....and RGRX is at $53 million market cap.
SOME DAY, bocamp..you will have a "Come-To-Jesus-Ephipany"...and that is? Finkelstein is the WORST CEO EVER. How on EARTH could G Tree talk Korean investors to a $375 million market cap???? Huh????????DUHHHH? Every time Finkel Dope talks....we go down... farther and farther and farther. FIRE Finkelstein....HIRE G TREE to be CEO of RGRX! If G Tree executives can replicate what they did for G Tree, to a $375 million market cap,......they coudl get RGRX to a $500 MILLION market cap EASY!
I honestly worry anbout your IQ, bocamp. I woke up to the DAMAGE of Finkelstein a LONG time ago.
Trot.....I do think there has been some behind the scenes stuf. G Tree has said all along they had been in contact with a few pharma. And I am sure G Tree is in contact with them after the results. And I am sure that Ora has fielded a few phone calls as well...at least, as much as G Tree has given them permisson to discuss the trial results. Ora has the deepest contacts in eye pharma. I can't imagine that G Tree woudln't let Oa disucss it with a legitimate pharma person that Ora knows well.
So yeah....I do there there has been some contacts. Trial did not fail. wasn't a home run either. BUT REMEMBER! Restasis needed TWO phase 3's to win. Liftegrast needed TWO phase 3's as well. Our was really a phase 2b..dose escalation and design. Also? The TAV drug allergan moveson? THAT basicaly flopped in endpoints too!!!, supposedly likle we did! AGN just shifts things around a bit, and MADE it a win! RGRX did not do that.
I am sure one or two pharmas are delving into the data more deeply.. there is enough tp get their interest. It's a big market and no great drugs out there. LIFTEGRAST is a ONE FULL YEAR DOSING !!! And 59% showed SIDE EFFECTS from liftegrast!. So tell me TB 4 is no good with 30 day dose and no side effects? It all comes down to price. There are 2-3 pharmas that woudl take TB 4 now. But what price. I will acept a low price, if we get CVR's. I believe pharma will balk if price is too high.
As it stands now, NO, US and canada rights for TB 4 are not worth $500 million. I wish they were, but they aren't. The issue is Allergan's drug TAV, which will probably pass Phase 3 and FDA review. even though they whitewash the results. And Shire's Liftegrast will probably get approved as well. if TB 4 was ONLY going against RESTATIS, then yes.it coudl get that kind of value. But TB 4 has to be discounted now because the trial results was kind of muddy, but good..trial....and by the time we would getapproval, there will be TAV and Lifgetrast already approved and selling. I think there is room for TB 4.....it is much faster acting and 100% safe and side effect free.
Personally? I would be happy with Novartis buying out RGRX for $250 to $300 million...ALL of it....eyes, heart and neuro. And then also for each share owned you get a contingent value right CVR...and these rights can trade just like a stock..and the CVR's woud be entitled to between 10% and 15% of any later TB 4 revenue...........probably closer to 10%. I woudl be very pleased with a $2.50 buyout of RGRX (NVS coudl pay that easily) and then get ANOTHER share of a CVR to still play TB 4. I'd make a big profit, and I still have the CVR type warrant to play TB 4.......AND I AM DONE WITH FINKESTIN FOR GOOD! . I;'m not giving up.....but Finkelstein runing RGRX for over 20 years has been a total disaster. he pissd $105 million basically down the drain...and we don't even own majority stake in US eye rights now. Had to give that away along with $105 million he spent! So YES, I woudl LEAP at a $2.50 share buyout by NVS as long as I get 1 share granted of a CVR after. Then that is ALL play money. FREE, just LIKE ALL FINKEL BOOBS OPTIONS! FREE..from OUR shareholders backs.
hey netlosstoo....no oen woudl listen tou you and I....JBSay! They are too dumb to see that PPC is JBS's piggy bank. The $550 millionm JBS is sucking out is going to JBS because they bought back massive amounts of stock CHEAP! I own close to 20k shares of JBSAY and sucked some wind. I bought more two days ago (got lucky). JBS was trading at 5 times earnings. Tyson was close to 20 PE. No brainer. BNDES gov't bank Brazil owns 30% JBS. The Batista family owns 45%. Value of ALL JBS was just over $7 billion. PPC value about $6.6 bilion! INSANE! Of JBS value $7 billion (couple days ago)....75% of that is owned by BNDES and JBS family. Leaves 25% float of $7 billion market cap. That leaves $1.75 billion stock float by non insiders. But what NO ONE SAW was this! In 2015 and also the Q1 of 2016, JBS bought back $670 MILLION of stock! the available float went from $1.75 billion down to only $1 billion! And that only is counted till March 31. JBS I am SURE was aggressively buying from Mar 31 to MAy 11. IT IS WHY JBS sucked out $550 million from PPC! BUY BACK CHEAP STOCK at a PE of 5. Load up, then trannsfer company and trading to NY and make fortune. NO ANALYSTS HAS CAUGHT THIS. JBS has reduced the available float by 45%. There is still room to go much higher, once the analysts ADD UP HOW MUCH JBS bought back! Huge! No one saw, but I did! I had to wait and suck wind, but it will pay big time once it trades in NYVC and US dollars. PPC is juyst the JBS piggy bank. It will always be that way. BUY JBS if you want to make bigger money. Each share of JBS owns almost 80% of PPC anyway! rest of JBS is almpst free!
bocamp....YOU are the hysterical one, in a way. I'm not really. What I posted is FACT. It is a fact that Finkestein has ben a lousy CEO for over 20 years. it is a FACT he is a horrible speaker. One poster just watched an archived video of him. It is a FACT that NEVER ONCE has Dr. Goldstein presnted at a Wall Street investor conference. The ONLY time Goldstein presents is when there is a BOONDOGGLE TRIP SOMEWHERE! Why the "F" hasn't Finkelstein come up with to SIMPLY have the DOCTOR and SCIENTIST and INVENTOR of TB 4, talk to Wall Street people? duhhhhh! Instead? Finkel goes to conference, and no one comes to hear him!!!!! FACT!
Novartis may indeed be circling and looking and doing some DD. But if they are it isn't for G Tree. It's for RGRX. No way can NVS pay a premium to the ALREADY $360 million market cap of G Tree shares! NVS could work a deal so they get an increase in US percentages, and NVS will do an pay for the trial......but if NVS wants TB 4, it is RGRX they will takeover. The disparity of G Tree at $360 million vs RGRX at $53 million...is too great not to ignore.. I just hope Finkestein is capable of answereing a phone call from NVS if they OFFER to take RGRX out, DO IT! Get a reasonable price. probably a less than what G Tree is worth now, BUT make up a lowish price by issuing CVR's that still participate in TB 4 revenues (if ever). Then let NVS professionally do eyes, heart, neuro and maybe glaucoma.
Fiknkel is a deer in a headlight, frozen. He has no idea what to do. There isn't going to be an institutional presentation any time soon. he isn't a good speaker anyways, we all have listened and cringed before. It is ASTOUNDING to me that the MAJOR asset RGRX has to TALK and get respect is Dr. Goldstein. Goldstein CHARMED Joe McNay going back to 1987, and McNay stayed loyal! WHY? NOT BECAUSE OF FINKELSTEIN, but Goldstein! WHY HASN'T RGRX BROUGHT GOLDSTEIN OUT TO TALK??? never once, I recall. the ONLY time Goldstein talks is when us shareholders PAy for a bi annual boondoggle to places like Italy. BUT NO ONE SHOWS UP OF IMPORTANCE, investor wise.
FIRE Finkelstein and watch us rise. get Mr. YANG in Korea to put one of his people running RGRX. we all woudl celebrate!
Harvard Business Schol out to use RGRX as a case study in what not to do.
I was scoping around to try and see what kind of relationship Novartis may have had with Ora.....via NVS's eye division, Alcon. NVS folded Alcon into the parent this year. I didn't find much in recent trials, but I did find one where Alcon used Ora for an OTC eye drop, measured in the CAE Torture chamber. This is good news if Ora has good ties with Novartis and NVS doesn't have any dry eye. NVS woudl listen to what Ora says of the results, before poor Finkel. WE NEED ORA! Finkel is just a "Deer in a headlight".....frozen.... and doesn't know what to do. I bet Ora does I'd hire them to consult with NVS:
"Use of a Controlled Adverse Environmental (CAE) Chamber to Evaluate Artificial Tears
D.L. Meadows Consumer Products Research, Alcon Research Ltd, Fort Worth, TX, United States
M.T. Christensen Consumer Products Research, Alcon Research Ltd, Fort Worth, TX, United States
M. Tudor Consumer Products Research, Alcon Research Ltd, Fort Worth, TX, United States
J.M. Stein Consumer Products Research, Alcon Research Ltd, Fort Worth, TX, United States
M. Abelson ORA, Inc., North Andover, MA, United States
G. Ousler, III ORA, Inc., North Andover, MA, United States
One more tidbit...over the years, while the ST founding Cavazza brother was alive, they did some collaborations with NOVARTIS. tThe remaining Cavazza brother (Paulo?) actually movd to Switzerland.........Lugano or Lauserne I recall.. there would be logic of teh remaining Cavazza brother...handling all the spread out families RGRX shares...to consider staying in contact with Novartis, regarding RGRX. Plant a seed?
"Novartis Pharma AG has signed an agreement with Sigma-Tau of Rome, Italy, for the rights to develop and commercialize Gimatecan, a next generation oral topoisomerase I inhibitor in phase II clinical development for the treatment of common solid tumors."
This goes back a few years, though.
Sigma Tau doesn't really exist anymore as it was......ST sold out last year to another Italian pharma (I'm not sure if they sold USA operations)......all the shares of RGRX that ST held, though....were transferred to entities controlled by the remaining Cavazza family...they took the RGRX shares with them before merger. there's no doubt in my mind that the Cavazza family is as sick of Finkel as we are..as evidenced by the fact that they refused to put in a SINGLE PENNY MORE to finkelsteins "penny financings".even though Sigma Tau was a billion $ revenue company. They wouldn't even give Finkel $5,000. They gave up on him a long time ago, IMO......Cavazzas just wait for the end and how to GET OUT. So I don't see that 30% holding by Cavazza entities as an IMPEDIMENT to any deal.....I see their 30% stake as an 'encourager" of any deal, that is decent for us. I think they, as I, would JUMP at RGRX selling out to Novartis, for a reasonable price..as long as we then get issued tradeable Contingent Value Rights (CVR), which allow us to participate in any futire TB 4 success, via a percentage payment of revenue. I woudl die and go to heaven to be rid of this albatross..but I ain't giving up. I am all or none.
feel better, drpianoi:
"The federal subpoenas are issued under a civil fraud law, the Financial Institutions Reform, Recovery and Enforcement Act, or Firrea, which covers fraud affecting federally insured financial institutions, the people said.
Authorities are examining practices over several years surrounding electronic trading firms’ payments to brokers to route retail orders to them, among other issues, people familiar with the inquiries said.
The nature of the Citadel and KCG investigations was reported earlier Tuesday by Reuters.
KCG disclosed last August that it was the subject of a Justice Department investigation, without providing further details."
hey, drpiano....you posted earlier about the new, big federal proble into CDEL (Citadel)? Then you wishe d that NIT was also includes? here is another snippet:
"Two of the largest trading firms in the world are being probed by the Justice Department. The Feds are trying to learn if Citadel and KCG have violated securities laws that require customers to get the best price. The investigation is being conducted by the same team at the DOJ that eventually got $50 billion in fines from the big banks over dodgy mortgage practices."
You will be PLEASED TO KNOW..that CDEL is Citadel....and KCG id NITE! KCG stands for Knight Capital Group. And the Feds are going after their smaller stock trading.
I find it curious that the second this big federal proble is announced, trades in RGX go almost to NOTHING. They just disappeared. there is no doubt in my mind that MM's (NITE and CDEL) were aggressive shorts here. And B7 complained many. many times how ostkly NITE was scamming trading.he called FINRA.
I don't mind there is all but no volume. Because if fair volume is no volume.....I'll take it this way. Here's to hoping NITE and CDEL go down. Big time.
This issue still is? The WIDE disparity in market valuations for the SAME drug, same countries!!!! RGRX owns more countries than G Tree, and RGRX owns between a 25% and 40% slice of USA and Canada. So why will NVS combime for for G Tree assets, which already are valued at $360 million..while the whole cow of RGRX, eyes, heart, neuro and all other countris is at $55 million valuation? I just can't see NVS playing G Tree at $360 million valuation. I CAN envison NVS playing RGRX at $55 million valuation.
The other unknown is this.......RGRX did glaucoma occular pressure measures on 306 live human patients. For all intents, G Tree and RGRX did a PHASE 2 trial of TB 4 in GLAUCOMA. What we don't know is if there was any adjustments in ocular pressures to the TB 4 arm in trial. If there was, and it basically was almost phase 2 test......NVS is a big player in glaucoma. That possible phase 2 type of "read" could alone be worth $100 million to NVS. A leading cause of blindness worldwide?
And WHOM do you think it silent on this? And who was it that made all aware that there WAS a glaucoma test in the dry eye trial. HINT! Not finkel boob.....and not Rodman. I don't think rodman analyst has a clue the glaucoma measures were tried. Thank you, sno.
Do the math, bo....if indeed G Tree is at $360 million market cap....and for basically US rights .....and RGRX owns between 25% and 40% of US revenues......I doubt the market cap G Tree has now, at this stage of the game (no final trial or FDA approval) are worth $360 million, to NVS because G Tree owners will want a PREMIUM over that already $360 million. Otherwise G Tree faces a "take under".
Should NVS have any interest in TB 4 (who knows), the numbers can't be argued. RGRX at a $55 million total value..the whole cow..or deal with G Tree owning USA, with RGRX taking a 25% to 40% cut of USA after that? Clearly, the whole cow of RGRX is far more financially attractive, to any potential buyer of the TB 4 "cow". I just hope that NVS has some gambling money allocated, from their soon, after Roche stock sale $13.8 billion..to where NVS will sit on just about $20 billiion.and in dire need of eye drugs for Alcon.......then RGRX may fit the bill.as long as NVS would give us a CVR. Then all shareholders of RGRX now, still get the "play", and competants at NVS will bring us across the "finish line". Finkle can't.
G Tree down a bit. Not unusual, considering. But an I getting it right? reuters says market cap of G Tree is 420 billion Won............conversion to USD is 0.00086....so even with G Tree down a bit today.....G Tree has a market cap of $360 million USD? Is that right? Post if it is right...because WHY woudl Novartios be intererested in dal with G Tree, because G Tre is already at $360 milliom market cap......but RGRX which owns the WHOLE COW of TB 4....is worth a total market cap $55 million. G Tree is valued almost 700% higher than RGRX????
if NVS ever is interested in TB 4, it won't be thru G Tree......the play for them is RGRX- at $55 million market cap. I hope Finkel answers the phone when they call. I'd leap at a deal with NVS.and sell out RGRX reasonably....as long as NVS gives a royalty based CVR (contingent value right)...and that will trade lkek a warrant, and receive proceeds from any TB 4 future revenues.
JJ fate of our hands, not as much now? he sure is! We are basically out of money. RGRX has enough for maybe three months. They need top pay finical (ugh0, goldie, rent, accountants, lawyers.etc....call it about $110,000 a month.. So we all know that a "money raise" must come and come soon.. What we DON'T KNOW of Finkel (I know too much already)...is will he go miniums or higher? will he go for $3 million max.......or go for $4 to $6 million? Will he do so in a NON diluting way, like doing a JV again with G Tree for heart neuro? Or will Finkel sell, like 10 million NEW diluting shares at around 40 cents? And even worse when he sells stock like that they ALWAYS get a TON of warrants too. All these warrants and FREE options have REALLY started to AD UP! bull1863 said about 20% of RGRX is in DILUTING warrants or options now, above the 100 mill outstanding. we don't need more.
If G Tree is interested, I guess I'd go a the JV way with heart & neuro, with similar terms.....with G Tree.. but they have to pay $3 million upfront. teh phase 2b/3 showed TB 4 work. It dd not fail. We have all heart & neuro patents, TB 4 100% safe and side effect free (tat is VERY IMPORTANt in heart and neuro area), ALL preclinocal work is done, Phase 1'a are satisfied.....move DIRECT to Phase 2 ready drug..heart and neuro are about a $6 billion market...at least TRIPLE what dry eye is. SO YEAH, they shoudl pay $3 millionupfromnt for it. That will tide RGRX over for about 20 to 25 months, enough time.and no dilution.
I'be be ALL FOR a NVS deal. But I can't see it. G Tree is a $2500$300 million market cap.. Why woudl NVS pay a premium on top that, when the WHOLE COW of TB 4 applications is at $55 million? if NVS moves on TB 4, they move on RGRX, not G Tree. Then NVS woudl offer to take over US trials and let G tree keep sone % rights, but NVS has to buy some US percentages from Gtree. Maybe leave G Tree 20-25%.
ivchip...yes, compared to almpst all other bios the burn rate is minimal. But expenses come. Perhaps $100k a month....depending. RGRX was down to below $50k CASH on hand I bet ny end of April. G Tree did a lifeline of $250k for Canada rights eyes ASAP for RGRX. That will last 3 months or less. It will be a good long wait till final dry eye.. and also wait for Eye NK results. RGRX will need about $3 million in bank, very soon. Shares did not respond but went down..we could be looking at 6-8 million shares dilution.......if we can find buyers. BUT! My earlier post showed a way to raise a handful of millions with the heart & neuro rights, which my hunch is G Tree might take....NO dilution or stock sale.
if we had ANY OTHER CEO who could COMMUNICATE and get the STORY out better, money woudl be not as much an issue.....but when you are 50 cents...problem. It is PITIFUL to see ALL KINDS of PRE CLINICAL tiny spec biotechs..... with FAR larger valuations that RGRX......millions of $$ in the bank.....and they are YEARS away from ANY late stage trial. We got stuck with Finkelstein........TWENTY YEARS and counting, and we're broke and have a total operating carry forward deficit spent as of Dec 31 .....$105,000,000.00
and Finkel needs more. We have no choice.
Bo and B7 are still in love......I am not. Never have been.