A massive dilution which could have been avoided had some of the ATM financing been used before SYNERGY results were announced. While shareholders would have been peeved if SYNERGY had been a success and the ATM financing ended up having been utilized unnecessarily, management ought to have erred on the side of caution, and raised cash ahead of such a binary event.
If the SA author's hypothesis were correct, couldn't one expect the adverse effects/toxicity that he cites to have been replicated to a comparable extent in OGXI's custirsen trial (SYNERGY) as custirsen utilizes ISIS's Gen 2 platform?
SYNERGY did fail on efficacy, and no one knows why yet (custirsen is a dud? newer prostate cancer treatments skewed the results? Gen 2 delivery was ineffective?) Nevertheless, treatment times during SYNERGY were about 2 years, and ISIS's platform didn't cause the unacceptably high AE/discontinuation rates which the SA author claims are inherent in ISIS's Gen 2 platform.
Good advice. Thank you for confirming that the SA article and price action amount to nothing more than a baseless bear raid.
If the privatization is crammed down, will $7.10/shr be paid out or is there a holdback for taxes?
"If the Merger is completed, Yongye stockholders will be entitled to receive US$7.10 in cash, without interest, less any applicable withholding taxes, for each share of the Company's common stock owned immediately prior to the effective time of the Merger as described in the Amended Merger Agreement."
Yep, I checked for any new Form 4 filings before calling out tradingforfools, but hope springs eternal..
We're going to get screwed whether or not 427 succeeds. It's just a matter of degree. But a prudently executed 427 partnership or secondary should still leave plenty of upside, so I won't complain if it happens.
Until news hits, this stock is in the hands of market makers and day traders. Shades of of MDVN after dimebon's failure (prior to xtandi's success.) .
Sentiment: Strong Buy
I wish there were insider buying. But, as far as I know, that has not been the case. If you find otherwise, please post your source as this board could use some good news.
Sentiment: Strong Buy
For the record, revenues were 011 milestone payments - the continuation of which are far from certain since SYNERGY failed.
Glad you're long (so am I) but this kind of pumping is stupid..
Sentiment: Strong Buy
"They have had insider buying"
What a load of BS
"revenues that beat estimates"
Do you know what you're talking about?
Looks like Tang dodged a bullet and sold out of OGXI ahead of the SYNERGY results. Entire position was liquidated in Q1 according to today's 13F.
I was thinking that you'd base your decision about whether or not to hold OGXI into 427 results on your confidence in HsP 27 as a cancer target.
Good point. This time around, Mackenzie's silence will be deafening. The last thing the Board wants is to wake up the abstainers and notify them that their non-votes won't count.
"I probably will sell before the OGX-427 results."
Wow, huge vote of no confidence. Never thought I'd see the day when I would be more bullish than Summer.
Fast track not related to safety or efficacy, so getting fast track and then failing P3 are not inconsistent (even though it is a cruel twist of fate.) Truth is, ambiguity surrounding 011's P2 results always were an issue even though some denied it. Hopefully, 427 data will provide a sounder investment basis.
"I believe people will regret selling this stock"
Depends on OGX-427 results. 011 is toast.
No, a subscription is required to pull up the article, so a link won't work. But you can google "Needham" and "OGXI" to verify the info.
Needham & Company downgraded OncoGenex Pharmaceuticals (NASDAQ: OGXI) from Strong Buy to Hold with a price target of $14.00.
Analyst Chad Messer comments, "OncoGenex reported negative top line data from the pivotal SYNERGY trial testing custersin on top of 1st line chemotherapy with docetaxel in patients with metastatic castrate resistant prostate cancer (CRPC). Custersin failed to significantly increase overall survival (OS) in this study. These results are surprising given the highly significant 7 month benefit seen in an earlier, nearly identically designed, Phase II trial. However, we see no read hrough from SYNERGY's failure to other ongoing programs at OGXI. We continue to believe shares are significantly undervalued."
Not much more info needed anyway. 23.4 vs 22.2 says it all. At least they let us know that no toxicity issues surfaced.
I know Box won't like this, but Dirk (a/k/a "Clown Blogger" lol) tweets " I expect it to trade near cash today. $OGXI I have bid in at $2.11."
I don't expect the PPS to get that low until another 011 trial fails. Count me among the buyers in the $3s based on potential market for OGX-427. 011 is and always was a red herring.
16.9 months + 15% is a pretty low hurdle to have to clear. It's a little more challenging, however, if the control group's OS was 20 months or more. Not saying it did or didn't happen - just repeating what others here have noted. .