a few things
I own approx 2mm shares, have never printed a single sell ticket on this stock, and I dont intend to sell anywhere near these levels.
Be careful how positive you are about the 75% institutional ownership. Its one thing for institutions to acquire large positions in the open market, driving the price and value of the company up. Its another for them to be able to effectively buy half the company at a couple of desperate financings.... as was the case here. The reasons the company found itself in that position have been very well documented.
Many Biotech companies havent even been able to raise cash in this environment, its a war-zone out there... All you have to do is compare the charts of Canadian Biotech for the last year... they all look virtually identical ( terrible )..... At least in this case the institutions are still at the table, giving the company options... And there is no question that the recent evelopments with 1402 , fractionation, MABS and the progress with the filters, are all getting PLI on more and more people's radar.
I am however VERY frustrated at the seemingly endless liquidation coming out of Anonymous, RBC and TD since the highs we saw recently. This selling seems to be part of an almost malicious and orchestrated pattern that we have seen prior to the last two financings.... The selling seems the same... and the players are the same.... it looks and feels exactly like before. I am really not sure what to make of it.... I have pleaded with management to get to the bottom of it, or at least try to organize an orderly cross or sale.
On top of that, the support on the buy side has been spotty... and I really have a hard time reconciling that. Just like others have said here... with all the promise, what are we missing ? Where is the support ? If we are truly on the verge of a significant 1402 deal... where's the buying ? We are on the verge of launching the worlds first and only viable CJB blood filter ? We are on the verge of a having a revolutionary Plasma technology adopted by the Plasma industry... where the heck is the buying ? Where the heck are the analysts ?
The missteps, delays and other missed milestones have really caught up with this company. How ironic, that the company feels and looks to be at its weakest from a market perspective, when we are allegedly right ahead of some of the biggest developments in the company's history.
I havent been on the board much, tired of all the BS... but I am in relatively constant contact with the company and ironically feel reasonably good about the way things are progressing from a corporate perspective. ....jits just really hard to reconcile all of that , with the way the stock is acting.
I have suggested to Laurin personally that I they should seriously consider hiring a well known and reputed CEO / President to run the company, and have Laurin focus on his strengths and vision. I have also suggested they hire a firm to represent them in negotiations with the Pharma industry to maximize value from their drug platform. Who knows if he will listen....
in the mean time... we wait
PS: I understand that the Nanuk LOC lower price limit was something required by the TSX... and can be reset with agreement from both parties.