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“This Tiny, Unknown Biotech is About to Unleash Its ‘Holy Grail’ Drug”

Biotech Supertrader teases that "This May be the Most Radical Advance in Medicine in the Last 100 Years"

By Travis Johnson, Stock Gumshoe, January 8, 2014

Robert Morris is helming a biotech-focused stock newsletter that’s called Biotech Supertrader (modesty has no place in the world of newsletter promotions, of course), and I’ve never covered this letter before so I thought I ought to have a look at the latest teaser we’ve been asked about.

Morris, incidentally, has been featured in our pages before — but that was back when he was editor of China Stock Insider at the same publisher. That letter, like almost all China-focused investment newsletters, seems to have disappeared quietly into that good night … which probably tells you that it’s time to invest in China again, since the newsletter publishers are ignoring the Middle Kingdom and rushing out their pitches about biotech and tech stocks. At the time, Morris was teasing NQ Mobile (NQ), which has turned out to be pretty good if you bought it down there in the $6-8 neighborhood (though it’s been a wild ride).

So now what’s he pitching for his Biotech Supertrader?

Well, the destruction of “Man’s deadliest disease”, of course. Here’s how the teaser gets our attention:

“This Tiny, Unknown Biotech is About to Unleash Its ‘Holy Grail’ Drug on Man’s Deadliest Disease

“Their ‘Guided Missile Approach’ Could Save Thousands of Lives Each Year

“It’s about to become the most talked about advancement in cancer treatment in our lifetimes and you can lock in a life-transforming fortune if you act quickly….

“I’m urging my subscribers to load up on this stock NOW….

“I’ve just uncovered a tiny, unknown biotechnology company with a new cancer drug in phase 3 clinical trials which is showing remarkable success at treating several types of cancer.

“Their scientists have found an innovative approach to cancer care which involves a breakthrough in treatment. It goes deep inside the inner workings of our cells.

“Plus, this medicine looks to be many times more effective and with fewer side effects than the chemo, radiation, and drug therapies currently available.”

If there’s one thing that investors know can make them rich and make them feel good about themselves and the world, it’s a cure for cancer — we’ve seen that effective cancer treatments can and do (occasionally) turn little biotech stocks into gigantic successes, so the dream lives on that you’re going to catch one of these lottery tickets and own the next Genentech. Will we be so lucky? Well, let’s see which one he’s pitching:

“When this drug wins FDA approval – which I believe it will – this small company’s $4.16 stock price will go straight to the moon.

“And the market for this drug is absolutely huge!

“You see, this small biotech is targeting its new drug, let’s call it ‘drug S’, at cancers of the blood and bone marrow. And it is already in very promising phase 3 trials for these two types of cancer.

“But here’s where it gets really interesting. It looks like the drug this company is developing will also work on other types of cancer!

“There are positive signs it works on Non-Small Cell Lung Cancer (NSCLC) too. There are 1.1 million people with this type of malignancy. Just in the United States alone there are over 300,000 patients with this disease according to The American Cancer Society. Each desperate for a cure.

“Plus it looks like ‘drug S’ may turn out to be an effective treatment for ovarian Cancer. There are more than 204,000 new cases of ovarian cancer diagnosed worldwide each year with 22,280 of these in the United States according to the National Cancer Institute estimates.”

So … who is it? Thinkolator sez this is Cyclacel Pharmaceuticals (CYCC)

Cyclacel is indeed a little biotech around $4 (it closed at $4.35 yesterday), with a market capitalization of only about $80 million — so be careful, we’re a big enough group here that if just a small percentage of Stock Gumshoe readers got enthused about this stock it could drive the shares up, less than a million dollars worth of shares trade each day (Biotech Supertrader says they limited their readership to 750 people — I don’t know if that’s still their cap or if they’ve hit it, but we’ll have more folks than that reading this free article).

And like many biotech stocks, it’s got some impressive scientists and it’s been losing money for a long time as they’ve been searching for a viable drug (their current lead drug also was a big focus of theirs back when it was in Phase 1 trials five or more years ago, so that’s a good reminder of the time these things take, it’s just starting Phase 3 trials now). It looks like they must have gone public in 2004, when they were about eight years old, and a quick scan of ten years of their financials over at Morningstar indicates that they’ve never generated more than a token amount of revenue (meaning, they’ve probably had some research collaboration payments or partnership funding, but never got a product to market), and have accumulated more than $250 million in losses to date. And had two reverse splits to keep the price from sinking far into penny territory.

So that’s not unusual, but it means that — as with all developmental-stage biotechs — it’s not about the financials or the fundamentals, it’s about what’s going to happen in their clinical trials and whether things are going well enough that they can continue to finance the trials … which get much more expensive as you progress through Phase 2 and Phase 3.

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All I know about them so far is that they say they’ve got enough cash to get through enrollment in their key Phase 3 study for “drug S” (which is sapacitabine) as of September when they last updated their investor presentation, but I know nothing about the science or the competing cancer drugs that are out there or how fabulous this particular one might be, so I asked our favorite medical writer, Doc Gumshoe (who, yes, is not a doctor) to check them out quickly and chime in. Here’s what he could share after looking into them for a few minutes (he’s just looking at the medical stuff, not so much the “investor presentations”):

    Cyclacel’s Prospects

    Cyclacel has three drugs in development at this time, and is involved in eight clinical trials with these drugs, not including two clinical trials that have been terminated. Their top contender is sapacitabine which targets the division of cancer cells. If you can prevent cancer cells from dividing and reproducing, you have the cancer whipped, so targeting cancer cell division (or mitosis, which is the technical term) is a highly promising avenue for treating cancer. However, we need to take note of the fact that sapacitabine is one of a large number of drugs that propose to fight cancer by this method.

    At present, all eight of Cyclacel’s clinical trials involve sapacitabine. Of these, at least one has been completed – a Phase 1 study of the safety and pharmacology of the drug. Four others are current, with no information about results. These are likely Phase 1 or small Phase 2 studies, to assess safety, determine what a correct dose might be, and evaluate whether the drug does what it’s supposed to do in human subjects with the target diseases, which in this case include acute myeloid leukemia (AML), cutaneous T-cell lymphoma, and some advanced solid tumors. Prior to the clinical trials, sapacitabine has demonstrated impressive results in delaying the spread of metastatic liver cancers in mice.

    From what I can gather from public sources (i.e., the NIH Clinical Trials Registry), there is one Phase 3 trial, which started recruiting patients in February of 2013 and is expected to be completed in late 2015. The trial is in elderly patients with AML, and compares alternating cycles of sapacitabine and decitabine with decitabine alone. Decitabine (Dacogen) is FDA-approved for treating AML and also targets cancer cells’ replication by attacking their DNA.

    It is possible that the Phase 3 trial by itself could lead to FDA approval for sapacitabine, depending on the strength of the results. However, that trial would not get the drug approved for use as monotherapy, since it is not being investigated as monotherapy. My guess is that Cyclacel is planning more trials of sapacitabine as monotherapy, perhaps in younger patients. And my further guess is that FDA approval is still quite a long way off.

    Sapacitabine is also in a Phase 3 trial with cyclophosphamide and rituximab for the treatment of relapsed chronic lymphocytic leukemia. Cyclophosphamide (marketed under several trade names) is a well-established chemotherapy agent used in a number of cancers, and has led to remission in many cases; however, it is associated with truly harrowing adverse effects. Rituximab (Rituxan, Genentech) is used not only in cancers but in some autoimmune diseases. And sapacitabine is also being studied in patients with previously-treated non-small-cell lung cancers.

    Although the piece from Biotech Supertrader said that the drug – identified as “drug S” –is also a promising treatment for ovarian cancer, I find no clue that it is being studied in such patients. [ed note: that’s because that “promise” is in the lab still, not in people — they had a press release about this in the Fall, “75% of Ovarian Cancer Patient Samples Highly Sensitive to Sapacitabine”, not studied in patients but on patient samples]

    Cyclacel has two other drugs in development: selicilib and a drug designated as CYC116. One selicilib study has been terminated, and in a second Phase 1 study, selicilib is used with sapacitabine in patients with advanced solid tumors. Remember, however, that Phase 1 studies are many rungs of the ladder below what’s needed to gain FDA approval.

    CYC116 is an aurora kinase inhibitor, meaning that it blocks the action of an intracellular enzyme that facilitates cancer cell mitosis. This is a promising avenue of cancer treatment, however, the traffic on this avenue is fairly heavy, and includes several other classes of drugs including tyrosine kinase inhibitors, and taxol based agents such as paclitaxel (Taxol, Bristol Myers Squibb); docetaxel (Taxotere, Sanofi-Aventis), Abraxane (a newer formulation of paclitaxel from Celgene) and others.

    CYC116 supposedly also inhibits vascular endothelial growth factor (VEGF), which induces the growth of blood vessels that nourish cancer cells. Inhibiting VEGF is a well-established means of combating cancer, and CYC116 could hardly be characterized as a radically new departure in cancer treatment.

    The one trial involving this agent has been terminated. That, of course, does not mean that development of CYC116 stops dead in its tracks – there are many reasons why a trial can be terminated, and ours is not to speculate without more information.

    Beyond those three drugs, it’s hard to guess what Cyclacel may have up its corporate sleeve. It is certainly true that a successful cancer drug – even if only moderately successful– can be transformational for the biotech that develops the drug. But the drugs that Cyclacel has under development do not appear to this skeptical observer to be radically new departures in cancer treatment.

    It’s important to remember, when trying to estimate the likelihood of a single drug demonstrating sufficient efficacy and safety to gain FDA approval and market share, that the competitive field is vast. As I mentioned earlier, Cyclacel has a total of 8 clinical trials in process at this time.

    For the sake of perspective, it’s worth knowing that at present there are 41,445 cancer trials being conducted. So those are the odds.

So there you have it — it’s almost impossible to find a development-stage biotech whose financials look great or that makes your heart go pit-a-pat over their valuation, especially in a biotech bull market like we’ve seen over the past year or so, and Cyclacel doesn’t jump out as spectacular on that front either, not unless you’re a big believer in the promise of their specific drug. They’re a small stock and they don’t get much attention, other than from the analysts who probably helped them sell shares in secondary offerings in recent years, and there aren’t any major “skin in the game” insiders as far as I can tell (the CEO owns $1 million worth of shares, but he gets paid more than that every year), and there’s only one really focused owner on the institutional side that seems to have any kind of biotech focus (Eastern Capital owns about 7% of the shares, roughly $5 million worth … don’t know much about them).

So I don’t see a lot to make them stand out other than Robert Morris’ apparent enthusiasm for the shares (which certainly goes over the top, he calls his special report “The End of Cancer Worries Forever“), and I don’t know enough about the science to be a believer (though, to be fair, I almost never speculate on developmental biotechs because they’re so hit-driven and I’m not smart enough to be a hit-picker in the sector). It is at least encouraging that they are enrolling patients for Phase 3, and that they probably won’t have to raise more money before they have some indication of how the trial is going, but sometime in the next year or two they’re probably going to have to either get good results from this trial that let them raise cash at a good price, or have promising enough results that some big pharma company wants to jump in and help fund development of “drug S” (or just buy up the whole company, as happens with some regularity when a little biotech gets promising results).

Oh, and they are presenting at an investor conference next week, so maybe they’ll have something interesting to share then. As you can tell, this one doesn’t jump into my cup of tea … but these kinds of stocks almost never do. Sound interesting to you? Interested in the science or the lottery-ticket possibilities of $80-million developmental biotechs? Have any experience with Robert Morris or know whether or not we should consider him a biotech savant? Let us know with a comment below.

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sivapann
Member
sivapann
February 27, 2014 7:59 pm

biocqr – Nice work on ICOTF. Thank you,

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sivapann
Member
sivapann
February 27, 2014 8:02 pm

jer_vic – APPY looks to be attractive from a MC standpoint. Have we analyzed its pipeline? What are the catalysts for the next few months? These will be helpful. Thank you.

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jer_vic
jer_vic
February 27, 2014 10:37 pm
Reply to  sivapann

Hi Siva:
Near term catalyst is results of pivotal clinical trials for their APPY1 test, expected at or near end of Q1 2014. Their press releases sound optimistic. 🙂
I don’t see anything else in their pipeline? Maybe this one is a quick in and out on the expected catalyst. Dr. KSS wasn’t terribly impressed with them.
http://ir.venaxis.com/2014-01-24-Venaxis-Completes-Patient-Enrollment-in-Pivotal-Clinical-Trial-of-APPY1-Test

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karmaswimswami
February 27, 2014 8:04 pm

We discussed Ocera Therapeutics a ways back, developing ornithine phenylacetate for portosystemic encephalopathy. Looks like, based on a study just released, that Hyperion may try to get its already approved drug glycerol phenylbutyrate, also approved for cirrhosis. Ocera’s is iv, Hyperion’s is oral and now approved for people with urea cycle disorders (e.g., ornithine transcarbamylase deficiency). I said it before and reiterate: people do not need to be in Ocera. Sincere company but not a compelling investment narrative.

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sivapann
Member
sivapann
February 27, 2014 8:06 pm

Justirregular – The RNN run, I would guess could be any or all of the following..
-technical traders moving it around
-some news letter sent out RNN recommendation to its subscribers
-organic upward movement towards the trial results release catalyst event

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Justirregular
February 27, 2014 8:23 pm
Reply to  sivapann

Thanks, Siva…I thought it was technical traders too. I was watching 50k units go by like they were 50… I was trying to find out why but I did not see much!
I am new at this so can I ask you why Technical traders move the shares around! I can assume but I was hoping you could tell me what the real reason is!
Thanks again for all you are doing, it really helps to know you guys are real and caring!
I am now in over my head with all the DD on the links and info you guys are giving out!

sivapann
Member
sivapann
February 27, 2014 8:10 pm

Dr.KSS -I’m waiting for your Benitec article. Good luck.

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Subramania Kaushik
Subramania Kaushik
February 27, 2014 8:15 pm
Reply to  sivapann

I agree with Siva on the article. BTW i second this idea!
Dr. KSS Quote “When all of us become Benitec millionaires, we are all going to start a company to capitalize on the ideas we are getting from brainstorming here”

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Randy Trier
February 28, 2014 7:47 am

Now this is where i can help. I’ll help build the manufacturing and headquarter buildings at cost!

Jo McIntyre
February 28, 2014 1:27 pm
Reply to  Randy Trier

Okay, now I see where I can help w/HQ, etc. As a longtime freelance business writer and individual investor, I can do the PR!

sivapann
Member
sivapann
February 27, 2014 8:16 pm

Has anyone heard of this company called ULURU (ticker: ULUR) operating in the wound care market. They have been expanding quite aggressively in the last few months. :
Below is a description of the company and its products from Google.
“ULURU is a diversified specialty pharmaceutical company. The Company is focused on developing and commercializing a range of wound care and muco-adhesive film products based on its Nanoflex and OraDisc drug delivery technologies. Its marketed products include Altrazeal, Aphthasol and Aptheal (Amlexanox 5% Paste), OraDisc A and OraDisc B. Nanoflex technology provides materials with a range of properties and applications. The Company’s Nanoflex Powder consists of hydrogel particles. Its Nanoflex technology consists of hydrated nanoparticles that are concentrated into a viscoelastic gel. Altrazeal Transforming Powder Dressing can change the way health care providers approach their treatment of wounds. OraDisc consists of a multi-layered film having an adhesive layer, an optional pre-formed film layer and a coated backing layer. ”

There was a business update today from them:
http://finance.yahoo.com/news/uluru-inc-provides-business-130000249.html

Is anybody invested or have thoughts on this?

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Justirregular
February 27, 2014 8:42 pm
Reply to  sivapann

Siva, I just took a quick look and I am interested… I will do more homework when I get back from dinner! Nice move today!
http://www.nasdaq.com/symbol/ulur/news-headlines
Thanks again!

bclose
bclose
February 27, 2014 8:30 pm

“Upstart Biotech” with annual meetings Down Under. I love it!
I will even come down from the Great White North! Eh!

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Justirregular
February 27, 2014 8:39 pm
Reply to  bclose

Pick me up on the way by LA! I would love to spend some time in Australia!

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tanglewood
February 27, 2014 9:15 pm

To om at #1011; I found a Dr. Craig Mello at RXII
http://finance.yahoo.com/q/pr?s=RXII+Profile

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om
om
February 27, 2014 10:18 pm
Reply to  tanglewood

Thanks tanglewood .

analog68
analog68
February 27, 2014 9:27 pm

Doc, about ARNA and cannabinoid receptors. Do you think that we are going to see a shift from using opioids for many (certainly opioids have their role but are often like going rabbit hunting with a bazooka) various pain remedies to cannabinoids? It would seem to me to be a great move forward for certain pain patient situations. Anecdotal stories of cancer patients preferring turbo cabbage based pain relief over poppies is just one example (they want pain relief not numbness from life). Obviously humans have cannabinoid and opioid receptors for a reason. And instead of using opioids when cannibanoids could be used seems a degree of magnitude safer and would reduce opioid addiction. Does the Schedule A designation have to change for people to use their god given receptors, legally medically?

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analog68
analog68
February 27, 2014 9:41 pm
Reply to  analog68

I meant Schedule I

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David B
Guest
February 27, 2014 10:12 pm
Reply to  analog68

Good comment Nick. I am also hopeful that much less addictive alternatives to opioids can be discovered and marketed.

David B
Guest
February 27, 2014 10:19 pm

Benitec as BLT currently at 1.995–looks like our Fibonacci crew hit the bottoms and surge head on–good job Math Geeks! If I understood the wave cycle you mentioned we should be in for a very nice rally for a while. My weakness as an investor has been related to my timing so I’m going to dig in to the Fibonacci charts. This thread is helping many of us become better investors.

analog68
analog68
February 27, 2014 10:49 pm
Reply to  David B

Do we top off now or wait for a pullback? Tomorrow begins piggyback, how will that affect trading?

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Subramania Kaushik
Subramania Kaushik
February 27, 2014 10:52 pm
Reply to  David B

David, if my assumptions are right, i would say Benitec(BLT.AX) will soon say goodbye to price under $2 and will stabilize in the $2 range for a while!

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David B
Guest
February 27, 2014 11:43 pm

2,3,5,8 would be the Fibinacci number progression with some pull backs. So in the 2’s for a time then the next progression stabilizes in the 3’s the next stablization the 5’s the next the 8’s.
So your assumption of staying in the 2’s for a while looks like how mathematical progressions tend to occur in nature and in many other progressions. Of course, human driven progressions like stocks don’t always follow Nature’s patterns, but, interestingly, the often do follow the exact same patterns. It’s almost mystical.

David B
Guest
February 27, 2014 11:45 pm
Reply to  David B

Actually, I left out the early numbers in the sequence:
0,1,2,3,5,8 after that the numbers really start to soar so I let’s not get ahead of ourselves : )

Subramania Kaushik
Subramania Kaushik
February 27, 2014 11:50 pm
Reply to  David B

LOL David!

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Subramania Kaushik
Subramania Kaushik
February 28, 2014 12:19 am
Reply to  David B

Seems like we close at $2.09 in Aussie land, up 15%. We will be back above $2! Your numbers might be right 😉

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sivapann
Member
sivapann
February 27, 2014 10:48 pm

What a great comedy

“7:04 am NanoViricides reports its President & Chairman Dr. Anil Diwan has purchased its common stock in the open market after the co filed its quarterly report; Dr. Diwan has repaid $83,900 to the co as a result of the ‘short term profits’ accrued from this transaction (NNVC) : Dr. Diwan originally purchased the co stock as reported in Feb, 2013. Subsequently, he sold a portion of these open market acquired common shares as reported on Oct 21, 2013, without any consideration of a future repurchase. Nevertheless, he repurchased 50,000 shares of NNVC and as reported on Form 4 filed on Feb 24, 2014. On Feb 24, 2014, the co’s Corporate Counsel advised Dr. Diwan that this repurchase fell within the limitations of Section 16(b) of the Securities and Exchange Act of 1934, which relates to “short term sales” by “insiders” of a public reporting co. The net profits from the sale at a higher price and the later repurchase at a lower price were determined to be $83,900. As a result, Dr. Diwan has disgorged the resulting net profits of $83,900 to the co on Tuesday, Feb 25, 2014.”

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analog68
analog68
February 27, 2014 10:53 pm
Reply to  sivapann

Nice try!

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rogie
February 27, 2014 11:32 pm
Reply to  sivapann

The best laid plans of Mice and Man… Garnishes a “C”- ish for ingenuity though. I love the term “disgorged” with alternative meanings like “to discharge violently or to spew” or “vomit”, lol. Thanks for that.

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arch1
February 28, 2014 2:47 am
Reply to  sivapann

This and their last proxy proposals is why I finally got out of my long term holding.Iseems to me to be a case of primary interest in generating co.officer & board of director income instead of ever bringing a product to market.

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Les Baker
Member
Les Baker
February 28, 2014 3:30 am

Looks like BLT closed on the ASX @ 2.09au with nearly 1.5 Mil shares traded! I guess the traders down under liked the announcement of the bought financing…..

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Legless
Guest
Legless
February 28, 2014 4:01 am

PAB. Dr KSS has mentioned PAB. He likes the technology – doesn’t like the management. That said, I think it’s a worthwhile investment in the medium term. They are cashed up, have orphaned drug designation in the USA and Europe and have just signed a joint trial with Onyx Pharmaceuticals’.

More info here: http://www.patrys.com/component/fpss/track/1/bmRleC5waHA/ndex.php?option=com_content&view=article&id=91&Itemid=186#PAT-SM6

The share price is very low at the minute. About 4.1 cents (AU). If the upcoming trial is even a little successful then you would expect Onyx to buy or license the technology and then you’d see a significant rise in the SP.

I think it’s worth investing in.

Disclaimer. I have a significant amount invested in PAB and am in for the long haul. I belive in their technology.

Cheers

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jamespaul108
jamespaul108
February 28, 2014 10:07 am
Reply to  Legless

See Dr. KSS’s comment #514. He wrote that “The method is brilliant from a basic science perspective, but may not actually be working in clinical trials.” and was looking for results. The only recent thing on PubMed is about a 10-year follow-up study of patients with gastric cancer, not myeloma nor their recent trial.

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Alan Harris
Guest
Alan Harris
February 28, 2014 4:47 am

FYI: Ampio Pharmaceuticals, Inc. (NYSE MKT: AMPE) today announced that it has priced an underwritten public offering of 8,500,000 shares of its common stock. The shares will be sold at a price to the public of $7.00 per share for gross proceeds of $59.5 million.

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Testpack3
Member
February 28, 2014 7:33 am

Hello to everyone. This is my first comment on this excellent thread.
Re: Benny (BLT,AX)
I write from the land of the Cockneys, and have been investing, as a private individual since the ’70s . For background info., my portfolio has always held, in about equal measures, 50% of Big OIL, Big Gold, and Big Pharma. This was done for dividend re-invested income. Of that 50%, some 20% was invested in smaller, oil, gold and pharma stocks. Good times outway the bad times. So, let me get to the point in question – making money. Since the announcement by benny on 24 Feb, re the investment programme to raise A$31, and the subsequent announcement on 28th Feb, explaining why they did not offer an option to invest by common stock holder, I e-mailed benny at their investor relations centre, attn. of a Ms J Lowe. A synopsis of the mail is; Since the announcement made no mention of the 29M share placement ranking ‘parri passu’ with existing shares, was there a condition, either expressed or implied, with the institutions et al, forbidding any sale, in whole or part, of their holding. The c6M exercisable share at A%1.27 in the future may only be exercised if there is a condition applied? If there is a condition, on a time frame, then there is no dilution until the elapse of the timeframe. If there is a reply from Ms Lowe, i will revert. No matter how good the intentions of instutionalised investors may be ,I know of no case when an investor would not take a large chunk of profit when 100% of their stake could be realised. Money is only money when it’s in your bank. When you buy a share , you are loaning money, and it’s not yours until it’s returned to you. I apologise if I am ‘telling grandmother how to suck eggs’. Always top slice any share when it moves up at rate, and buy back on falls. No share has ever moved in a straight line ad infinitum. It’s easier done on intra- day prices than on end of day prices. One can achieve a significant holding, well above the initial holding, with a cost of the initial purchase. And finally good people, I would recommend the reading of The Black Swan, author Nassim Taleb. It’s more in my line of work, heavily into Maths, and probability theory. In a nutshell, ‘ always expect the un-expected.’. We all crave a cure for debilitating and killing diseases. It may not be the company we have invested in, and we lose our money. Now there’s a moral question for all of you to ask yourselves?

Sorry about the length of the thread, and good investing.

tstpack3

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hotcopper
hotcopper
February 28, 2014 7:54 am

Alan (re 1034.) The Market Oracle mentions AMPE in an article today http://www.marketoracle.co.uk/Article44621.html

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KindergardenInvestor
February 28, 2014 2:57 pm
Reply to  hotcopper

Goeff, thank you for posting that link (#1036). I have no current interest in AMPE but the interview gave me a great deal more to think about when investing in biotech – or really, any industry where the science is developing rapidly.

om
om
February 28, 2014 9:17 am

ONVO and APDN will they win ever ?

sivapann
Member
sivapann
February 28, 2014 10:08 am

This is great news!!!!
Echo Therapeutics Adds New Member to Board of Directors
PHILADELPHIA, Feb. 28, 2014 /PRNewswire/ — Echo Therapeutics, Inc. (ECTE) (“Echo”), a medical device company developing its Symphony® CGM System as a non-invasive, wireless continuous glucose monitoring system, today announced that Michael M. Goldberg, M.D., has been appointed to Echo’s Board of Directors.
“We are pleased to welcome Michael to the Board of Directors and look forward to working with him to optimize shareholder value,” commented Robert F. Doman, Executive Chairman and Interim CEO of Echo Therapeutics, Inc. “Michael’s extensive capital markets and executive level industry experience will greatly benefit the company as we execute on our short-term objectives and position ourselves for future growth.”

“I am pleased to be joining the Echo board to advance a collaborative relationship with the company. I have been excited by the Echo technology for seven years and I believe this technology has the potential to become a major force in the large and emerging market for continuous glucose monitoring. I also believe that the proprietary technology can find uses beyond traditional glucose monitoring,” said Dr. Goldberg. “I look forward to working with the Echo team to enable Echo’s shareholders to realize the value I think is inherent in this technology.”

Dr. Goldberg was a Managing Partner of Montaur Capital Partners from January 2007 to December 2013. Prior to that, Dr. Goldberg was with Emisphere Technologies, Inc., serving as Chief Executive Officer from August 1990 to January 2007, Chairman of the Board of Directors from November 1991 to January 2007, and President from August 1990 to October 1995. Before joining Emisphere, Dr. Goldberg served as Vice President of The First Boston Corp., where he was a founding member of the Healthcare Banking Group. Dr. Goldberg currently serves on the board of Navidea Biopharmaceuticals. He has been a Director of Alliqua, Inc., Urigen Pharmaceuticals, Inc., Adventrx Pharmaceuticals Inc. and several private companies. Dr. Goldberg received a B.S. from Rensselaer Polytechnic Institute, an MD from Albany Medical College of Union University and an MBA from Columbia University Graduate School of Business.

http://finance.yahoo.com/news/echo-therapeutics-adds-member-board-125000993.html

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elee3954
elee3954
March 1, 2014 7:03 am
Reply to  1paglee

Robert,
The link worked for me. Thanks. Looks promising.

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