||EPS - Basic
||Market Cap (m)
|Pharmaceuticals & Biotechnology
Real-Time news about Medical Mktg (London Stock Exchange): 0 recent articles
|optimist at large: I seem to recall that the last placing, at the end of July 2008, was at 19p when the share price was 15p.|
|el magnifico: My presumpion is that, since there has been no news to encourage buyers for a very long time, this thinly-traded stock is subject to stale bulls bailing out on a random basis, putting occasional pressure on the share price.
I tried a "fill or kill" buy order at 4.75p, after the 4.5p sale of 180,000 shares was marked, but did not get on.
|el magnifico: Quick overview of the bull case:
The negatives on MMG are now well over a year old - trashed share price; close-up funding horizon; Bests' outside the tent with big shareholding; continued lack of newsflow; smaller biotech meltdown as the least favoured equity asset class (that one even before the credit crisis showed up!)
I guess I'm holding on for a positive surprise. The nice thing is - just one bit of good news should do the trick, given the drip-feed of gloom and doom.
Without wishing to lapse into Best-speak : why not a simple, underpriced jv with Big Pharma in either GenVax or ruthenium to shore up finances - and a share price which rises like 2003-2005 (20p to 300p), to boot ? That's the power which equities have to create wealth - but which investors may have forgotten in the wrack and ruin of the credit crisis.
|el magnifico: Benny,
The "silence is golden" thought was directed to MMG's survival and is based on my observation that, typically, companies about to go under do so in a flurry of deadline statements/negotiation update/press releases.
Companies negotiating a funding event with the backing of major shareholders or putting to bed a major licensing deal are more likely to be discreet and low profile on the commentary scale.
My optimistic guess is that a deal will be done which is (a) low by industry standards, given MMG's poor bargaining position (b) good enough to put a fire under the share price (£4 million market cap right now).
That said, this commentary from InVivo blog seems to sum up where we are now:
"Is the biotech financing climate warming?
As the WSJ pointed out yesterday, big deals such as Sanofi's licensing of Exelixis' PI3 Kinase Inhibitors (see below) and JNJ's acquisition of Cougar Biotech might suggest it's time for more optimism in our industry, as does the good news we report below for Cytokinetics.
Still, for a large portion of the sector--notably small cap biotechs whose products or clinical trial data are far from perfect--we suspect the struggles to find financing at a reasonable price continue.
Metabasis, a San Diego-based biotech focused on liver and metabolic disease, is a prime example. Unable to get additional funding , the biotech announced on May 27 that it would be reducing headcount by 85% to just 7 employees. Execs at Curagen likely know what remaining staffers at Metabasis are going through. In February the Connecticut company announced it was looking at strategic options; this week comes news of its sale to Celldex Therapeutics (see below).
And it's likely there will be more examples in the weeks to come. According to Simos Simeonidis, a senior biotechnology analyst with Rodman & Renshaw, "there are still a number of small-cap companies that will fall victim to the crisis and will either go out of business, merge or be taken over at low valuations." (You can read more about Simeonidis' views of the industry in an upcoming Pink Sheet story, scheduled to appear Monday June 1.)"
|bennytheball: I see Inovio are merging with a company developing vaccines, VGX Pharmaceuticals.
I wonder if there are other potential opportunities for merger that might be of interest to MMG.
If Ruthenium is still as far away from clinical trials as the latest announcements suggest (still trying to understand the mechanisms of action, as I read it), and they're offloading Viratis after having put its work on ice, that leaves only Genvax likely to come up with news worthy of a re-rating before the cash runs out.
I know we're all pleased that the current management aren't talking up the share price with over-optimistic statements regarding progress and deals, but we need some tangible developments soon and I'm getting worried about the silence re Genvax.
MMG could look like a nice shell for someone to move into at this price!
SAN DIEGO, May 1, 2009 -- Inovio Biomedical Corporation (NYSE Amex: INO), a leader in enabling the development of DNA vaccines using electroporation-based DNA delivery, announced today that the U.S. Securities and Exchange Commission (SEC) has declared effective Inovio's registration statement on Form S-4 related to Inovio's pending merger transaction with VGX Pharmaceuticals Inc., a Blue Bell, Pennsylvania-based company focused on the discovery and development of DNA vaccines. Inovio and VGX are mailing the joint proxy statement/prospectus included in the registration statement to their respective shareholders, including a notice of each company's respective special meeting of stockholders to be held on May 29, 2009.|
|bennytheball: I wonder when we're going to get more news on this, from six weeks back:
MMI advances prostrate cancer clinical trials
Business Weekly - UK
Cancer drug developer, Medical Marketing International (MMI), is pushing forwards with plans to take its commercial prostate cancer vaccine (GVX 3322) into Phase II clinical trials following the successful completion of preclinical equivalence studies.
The Cambridge company's share price rose 6.1 per cent to 6.5p a share following the announcement that it is now in discussions with leading clinical oncologists to define the key parameters for a prostate cancer trial.|
|a0469514: I am still here too. Of course, in hindsight, I should have been out long ago but it is a bit late now.
Guys like Cartmell who have gained a reputation for turning round companies are hard men whose ego depends solely on getting as big a rise in the shareprice whilst they are in charge. So whilst their methods and ruthlessness can appear distasteful at times there is a very strong chance that the share price will rise from here and imo MMI is definitely not a sell at these prices. In fact quite the contrary.
I went through a similar situation with another share that I held, UK Coal. They brought in a guy from the USA who was similarly ruthless. In order to get the biggest share price rise their first strategy is to start with a low share price so they tend to rubbish the company and the previous regime when they first arrive and shocked shareholders bail out in panic. In the case of UK Coal, I knew a bit about the company and it was obvious to me what the new guy was up to. So I bought at what turned out to be the very bottom of the spike down.
It is my guess that the same will happen here. Cartmell has succeded in getting the price down to rock bottom and his institutional pals will come in to refinance the company at bargain prices. Once a placing is out of he way the quality of the technology means that the share price should rise steadily away again. The one remaining risk seems to be that the placing might still be at a discount and the share price could get dragged lower still for a short time. But once the placing is out of the way there should certainly be a strong relief rally.
|el magnifico: In case some mis-informed comment spills onto this board on the news that Inovio's stock (Ticker : INO) has taken a -40 % hit in early NY trading following news that its own Selective Electrochemical Tumor Ablation (SECTA) investigational therapy in its two Phase III pivotal studies for squamous cell head & neck cancer showed questionable efficacy and higher mortality rates than surgery, I thought that I should draw attention to the reason for Inovio's steep decline.
The failed study is Inovio's own and relates to delivery via electroporation of a mix of antibiotics to the tumour site.
As we long-term MMG holders know, MMG's GenVax studies PH II prostate studies have shown safety and efficacy for over 2 years and (as DB once pronounced) its unique therapeutic benefits are unrelated to any specific delivery mode. MMG trials Inovio's electroporation technology alongside simple intramuscular injection.
It just goes to show that bad news travels fast in this sector. But let's focus on the positive implications of that observation. MMG has had no bad news in GenVax over the last two years of trials, nor has it hyped its slow, steady progress. I suppose that you could call the ultra-cautious ruthenium compound selection, which has pushed back commencement of Oncosense's clinical trials by 6-9 months a disappointment, but that has been regularly addressed by MMG's management. Yet the MMG share price is no higher than it was 2 years ago. That is a major source of frustration for holders, but a massive opportunity for newcomers.
I would be very surprised in the Inovio event had any effect on MMG's recent share price progress, but I thought this news of interest.
|el magnifico: An observation : this weekend it will be six months since MMG issued a news item related to its biotech products. The last was the Genvax update released on 16th March 2006. Before that, there was the announcement of the fourth European patent for Genvax in October 2005 - almost a year ago !
While I would rather own a boring stock than an over-hyped one, I can only imagine that we may be overdue some news. My simple assumption is that there has been steady clinical progress with Genvax, Ruthenium and Viratis over the last year. (We would have had to have been informed of trial terminations and the suchlike). There has to be some progress towards Genvax and ruthenium partnerships, too, I suppose. No better forum for a comprehensive review of clinical and partnership updates than the AGM on 20th September.
Also interesting to note that, traditionally, the MMG share price has run up ahead of major set-piece company meetings, only to fall back on lack of ground-breaking news at the meetings.
I wonder if we will see the mirror-image of that pattern this time around ?
|bennytheball: bolador, I know for a fact you speak for many of us here.
I get news each night from an online service of cancer vaccine developments, and am increasingly concerned about the non-genvax cancer vaccine 'oppo' that might take everyone unawares.
Paradoxically, now that the potential significance of genvax is in the open, given that potential is in the current MMG share price, even though it's huge things seems more risky than ever.
I always said I'd think again once the share price reached £2 - I'm still in heavily on the basis that I think we should be at £5.50 currently, but am more nervous than ever!
DB - give us a sign!
Medical Mktg share price data is direct from the London Stock Exchange