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luxetvox
Legendary

Posts: 1,418

Thanks Phil! You're Doing Great! Feb 26, 2024 21:37:23 GMT

Quote

Post by luxetvox on Feb 26, 2024 21:37:23 GMT

Courtesy of what Steve Rubin described as a successful financing, Opko is making the hit parade (see below).....but maybe not in a good way. But hey, we beat NERDY!

In other news, the CEO in waiting that Frosty kicked to the curb, Jon Cohen, led his company to a very solid quarter to end 2023. And he's in a commoditized business; just ask Teledoc. The company stock hit a 52 week high today, following through on a great week, during which the price jumped 18% on the heels of the quarterly results. And, they will be presenting at Barclay's 26th Annual Global Healthcare Confernce on March 12 in.......yup, Miami Beach. Take that Phil! So a beat on revenue, a beat on EPS, a FULL YEAR 2024 revenue forecast. And an EBITDA projection. Now, I wonder if we'll get anything approaching this level of detail tomorrow. Or will the concluding remarks of tomorrow's call moderator include a pause, followed by......suckers!! By the way TALK's market cap is nearly 70% that of Opko.

What Beyond Meat, Opko Health Among Most Shorted Ahead of Earnings
2024-02-26 20:30:04.798 GMT

(Bloomberg) -- Beyond Meat, Opko Health and Lemonade are
among the companies in the Russell 3000 reporting earnings
tomorrow that have the highest short interest as a percentage of
float, based on recent data from the New York and Nasdaq
exchanges. The following companies in the index have 5 percent
or more of their shares shorted by that measure:
* Beyond Meat (BYND): 38.4%. Jan. 31: 38.5%
* Opko Health (OPK): 33.0%. Jan. 31: 29.1%
* Lemonade (LMND): 31.0%. Jan. 31: 30.9%
* Luminar (LAZR): 29.1%. Jan. 31: 29.1%
* Revolve Group (RVLV): 26.2%. Jan. 31: 26.2%
* Recursion Pharma (RXRX): 22.9%. Jan. 31: 22.7%
* Virgin Galactic (SPCE): 22.6%. Jan. 31: 22.6%
* Arcutis Biotherapeutics (ARQT): 21.2%. Jan. 31: 21.0%
* AirSculpt Technologies (AIRS): 20.7%. Jan. 31: 21.9%
* Redfin (RDFN): 18.3%. Jan. 31: 18.3%
* Array (ARRY): 18.1%. Jan. 31: 18.1%
* Big 5 Sporting (BGFV): 18.0%. Jan. 31: 18.0%
* RCM (RCM): 17.8%. Jan. 31: 17.8%
* Tarsus Pharma (TARS): 17.8%. Jan. 31: 17.8%
* Cava Group (CAVA): 16.4%. Jan. 31: 16.4%
* PAR Technology (PAR): 16.2%. Jan. 31: 16.2%
* Shift4 Payments (FOUR): 15.2%. Jan. 31: 15.2%
* Agilon Health (AGL): 14.9%. Jan. 31: 14.9%
* Cytokinetics (CYTK): 14.0%. Jan. 31: 14.0%
* MannKind (MNKD): 13.4%. Jan. 31: 13.4%
* Kura Oncology (KURA): 13.1%. Jan. 31: 13.5%
* Eventbrite (EB): 12.5%. Jan. 31: 12.5%
* AdaptHealth (AHCO): 12.3%. Jan. 31: 12.2%
* Delek US Holdings (DK): 12.3%. Jan. 31: 12.3%
* Alphatec (ATEC): 11.9%. Jan. 31: 11.8%
* TKO (TKO): 11.4%. Jan. 31: 11.4%
* Cracker Barrel (CBRL): 11.3%. Jan. 31: 11.3%
* Sotera (SHC): 11.2%. Jan. 31: 11.2%
* Carter's (CRI): 10.7%. Jan. 31: 10.7%
* Syndax Pharmaceuticals (SNDX): 10.7%. Jan. 31: 10.6%
* Apellis Pharma (APLS): 10.6%. Jan. 31: 10.6%
* PROCEPT BioRobotics (PRCT): 10.6%. Jan. 31: 10.6%
* Regenxbio (RGNX): 10.4%. Jan. 31: 10.4%
* Masimo (MASI): 10.1%. Jan. 31: 10.0%
* National Vision (EYE): 10.0%. Jan. 31: 10.0%
* Xencor (XNCR): 9.9%. Jan. 31: 9.9%
* Atlas Energy Solutions (AESI): 9.7%. Jan. 31: 9.7%
* Solid Power (SLDP): 9.6%. Jan. 31: 9.6%
* Norwegian Cruise (NCLH): 9.5%. Jan. 31: 9.5%
* Park Hotels (PK): 9.1%. Jan. 31: 9.1%
* Civitas Resources Inc (CIVI): 9.0%. Jan. 31: 9.0%
* Vaxcyte (PCVX): 9.0%. Jan. 31: 9.1%
* Bumble (BMBL): 8.9%. Jan. 31: 8.9%
* Permian Resources (PR): 8.7%. Jan. 31: 8.8%
* U.S. Silica (SLCA): 8.5%. Jan. 31: 8.4%
* B&G Foods (BGS): 8.3%. Jan. 31: 8.3%
* Inogen (INGN): 8.1%. Jan. 31: 8.1%
* Portillo's (PTLO): 8.1%. Jan. 31: 8.1%
* Grocery Outlet (GO): 8.1%. Jan. 31: 8.1%
* Faro Technologies (FARO): 7.9%. Jan. 31: 7.9%
* Rocket Lab USA (RKLB): 7.9%. Jan. 31: 8.3%
* Macy's (M): 7.6%. Jan. 31: 7.6%
* Progyny (PGNY): 7.5%. Jan. 31: 7.6%
* California Resources (CRC): 7.4%. Jan. 31: 7.5%
* 3D Systems (DDD): 7.3%. Jan. 31: 7.3%
* Ambarella (AMBA): 7.3%. Jan. 31: 7.3%
* Supernus (SUPN): 7.1%. Jan. 31: 7.1%
* Privia Health (PRVA): 7.1%. Jan. 31: 7.1%
* Credo Technology (CRDO): 7.0%. Jan. 31: 7.2%
* Clean Energy Fuels (CLNE): 7.0%. Jan. 31: 7.0%
* Alector (ALEC): 6.9%. Jan. 31: 6.9%
* Green Dot (GDOT): 6.6%. Jan. 31: 6.6%
* Treace Medical (TMCI): 6.5%. Jan. 31: 6.5%
* Zeta (ZETA): 6.5%. Jan. 31: 6.5%
* Acadia Pharma (ACAD): 6.4%. Jan. 31: 6.4%
* Urban Outfitters (URBN): 6.3%. Jan. 31: 6.3%
* Astrana Health Inc (ASTH): 6.1%. Jan. 31: 6.1%
* Flywire (FLYW): 6.0%. Jan. 31: 6.0%
* Howard Hughes (HHH): 6.0%. Jan. 31: 6.0%
* Ryan Specialty (RYAN): 5.9%. Jan. 31: 5.9%
* Sabra Health (SBRA): 5.9%. Jan. 31: 5.8%
* Gulfport Energy (GPOR): 5.8%. Jan. 31: 5.8%
* Ligand Pharma (LGND): 5.7%. Jan. 31: 5.7%
* TimkenSteel (TMST): 5.7%. Jan. 31: 5.6%
* LendingTree (TREE): 5.5%. Jan. 31: 5.5%
* OraSure Technologies (OSUR): 5.4%. Jan. 31: 5.3%
* Ready Capital (RC): 5.3%. Jan. 31: 5.2%
* Nerdy (NRDY): 5.3%. Jan. 31: 5.4%
* ARKO (ARKO): 5.1%. Jan. 31: 5.1%

wsucougarbill
Full Member

Posts: 156

Thanks Phil! You're Doing Great! Feb 26, 2024 21:56:25 GMT via mobile icemandios likes this

Quote

Post by wsucougarbill on Feb 26, 2024 21:56:25 GMT

Feb 26, 2024 21:37:23 GMT luxetvox said:

Courtesy of what Steve Rubin described as a successful financing, Opko is making the hit parade (see below).....but maybe not in a good way. But hey, we beat NERDY!

In other news, the CEO in waiting that Frosty kicked to the curb, Jon Cohen, led his company to a very solid quarter to end 2023. And he's in a commoditized business; just ask Teledoc. The company stock hit a 52 week high today, following through on a great week, during which the price jumped 18% on the heels of the quarterly results. And, they will be presenting at Barclay's 26th Annual Global Healthcare Confernce on March 12 in.......yup, Miami Beach. Take that Phil! So a beat on revenue, a beat on EPS, a FULL YEAR 2024 revenue forecast. And an EBITDA projection. Now, I wonder if we'll get anything approaching this level of detail tomorrow. Or will the concluding remarks of tomorrow's call moderator include a pause, followed by......suckers!! By the way TALK's market cap is nearly 70% that of Opko.

What Beyond Meat, Opko Health Among Most Shorted Ahead of Earnings
2024-02-26 20:30:04.798 GMT

(Bloomberg) -- Beyond Meat, Opko Health and Lemonade are
among the companies in the Russell 3000 reporting earnings
tomorrow that have the highest short interest as a percentage of
float, based on recent data from the New York and Nasdaq
exchanges. The following companies in the index have 5 percent
or more of their shares shorted by that measure:
* Beyond Meat (BYND): 38.4%. Jan. 31: 38.5%
* Opko Health (OPK): 33.0%. Jan. 31: 29.1%
* Lemonade (LMND): 31.0%. Jan. 31: 30.9%
* Luminar (LAZR): 29.1%. Jan. 31: 29.1%
* Revolve Group (RVLV): 26.2%. Jan. 31: 26.2%
* Recursion Pharma (RXRX): 22.9%. Jan. 31: 22.7%
* Virgin Galactic (SPCE): 22.6%. Jan. 31: 22.6%
* Arcutis Biotherapeutics (ARQT): 21.2%. Jan. 31: 21.0%
* AirSculpt Technologies (AIRS): 20.7%. Jan. 31: 21.9%
* Redfin (RDFN): 18.3%. Jan. 31: 18.3%
* Array (ARRY): 18.1%. Jan. 31: 18.1%
* Big 5 Sporting (BGFV): 18.0%. Jan. 31: 18.0%
* RCM (RCM): 17.8%. Jan. 31: 17.8%
* Tarsus Pharma (TARS): 17.8%. Jan. 31: 17.8%
* Cava Group (CAVA): 16.4%. Jan. 31: 16.4%
* PAR Technology (PAR): 16.2%. Jan. 31: 16.2%
* Shift4 Payments (FOUR): 15.2%. Jan. 31: 15.2%
* Agilon Health (AGL): 14.9%. Jan. 31: 14.9%
* Cytokinetics (CYTK): 14.0%. Jan. 31: 14.0%
* MannKind (MNKD): 13.4%. Jan. 31: 13.4%
* Kura Oncology (KURA): 13.1%. Jan. 31: 13.5%
* Eventbrite (EB): 12.5%. Jan. 31: 12.5%
* AdaptHealth (AHCO): 12.3%. Jan. 31: 12.2%
* Delek US Holdings (DK): 12.3%. Jan. 31: 12.3%
* Alphatec (ATEC): 11.9%. Jan. 31: 11.8%
* TKO (TKO): 11.4%. Jan. 31: 11.4%
* Cracker Barrel (CBRL): 11.3%. Jan. 31: 11.3%
* Sotera (SHC): 11.2%. Jan. 31: 11.2%
* Carter's (CRI): 10.7%. Jan. 31: 10.7%
* Syndax Pharmaceuticals (SNDX): 10.7%. Jan. 31: 10.6%
* Apellis Pharma (APLS): 10.6%. Jan. 31: 10.6%
* PROCEPT BioRobotics (PRCT): 10.6%. Jan. 31: 10.6%
* Regenxbio (RGNX): 10.4%. Jan. 31: 10.4%
* Masimo (MASI): 10.1%. Jan. 31: 10.0%
* National Vision (EYE): 10.0%. Jan. 31: 10.0%
* Xencor (XNCR): 9.9%. Jan. 31: 9.9%
* Atlas Energy Solutions (AESI): 9.7%. Jan. 31: 9.7%
* Solid Power (SLDP): 9.6%. Jan. 31: 9.6%
* Norwegian Cruise (NCLH): 9.5%. Jan. 31: 9.5%
* Park Hotels (PK): 9.1%. Jan. 31: 9.1%
* Civitas Resources Inc (CIVI): 9.0%. Jan. 31: 9.0%
* Vaxcyte (PCVX): 9.0%. Jan. 31: 9.1%
* Bumble (BMBL): 8.9%. Jan. 31: 8.9%
* Permian Resources (PR): 8.7%. Jan. 31: 8.8%
* U.S. Silica (SLCA): 8.5%. Jan. 31: 8.4%
* B&G Foods (BGS): 8.3%. Jan. 31: 8.3%
* Inogen (INGN): 8.1%. Jan. 31: 8.1%
* Portillo's (PTLO): 8.1%. Jan. 31: 8.1%
* Grocery Outlet (GO): 8.1%. Jan. 31: 8.1%
* Faro Technologies (FARO): 7.9%. Jan. 31: 7.9%
* Rocket Lab USA (RKLB): 7.9%. Jan. 31: 8.3%
* Macy's (M): 7.6%. Jan. 31: 7.6%
* Progyny (PGNY): 7.5%. Jan. 31: 7.6%
* California Resources (CRC): 7.4%. Jan. 31: 7.5%
* 3D Systems (DDD): 7.3%. Jan. 31: 7.3%
* Ambarella (AMBA): 7.3%. Jan. 31: 7.3%
* Supernus (SUPN): 7.1%. Jan. 31: 7.1%
* Privia Health (PRVA): 7.1%. Jan. 31: 7.1%
* Credo Technology (CRDO): 7.0%. Jan. 31: 7.2%
* Clean Energy Fuels (CLNE): 7.0%. Jan. 31: 7.0%
* Alector (ALEC): 6.9%. Jan. 31: 6.9%
* Green Dot (GDOT): 6.6%. Jan. 31: 6.6%
* Treace Medical (TMCI): 6.5%. Jan. 31: 6.5%
* Zeta (ZETA): 6.5%. Jan. 31: 6.5%
* Acadia Pharma (ACAD): 6.4%. Jan. 31: 6.4%
* Urban Outfitters (URBN): 6.3%. Jan. 31: 6.3%
* Astrana Health Inc (ASTH): 6.1%. Jan. 31: 6.1%
* Flywire (FLYW): 6.0%. Jan. 31: 6.0%
* Howard Hughes (HHH): 6.0%. Jan. 31: 6.0%
* Ryan Specialty (RYAN): 5.9%. Jan. 31: 5.9%
* Sabra Health (SBRA): 5.9%. Jan. 31: 5.8%
* Gulfport Energy (GPOR): 5.8%. Jan. 31: 5.8%
* Ligand Pharma (LGND): 5.7%. Jan. 31: 5.7%
* TimkenSteel (TMST): 5.7%. Jan. 31: 5.6%
* LendingTree (TREE): 5.5%. Jan. 31: 5.5%
* OraSure Technologies (OSUR): 5.4%. Jan. 31: 5.3%
* Ready Capital (RC): 5.3%. Jan. 31: 5.2%
* Nerdy (NRDY): 5.3%. Jan.
31: 5.4%
* ARKO (ARKO): 5.1%. Jan. 31: 5.1%

So wait, do I have this correct?

Two weeks ago we added an Etsy storefront in China.

And the much hoped for corporate name change is “Opko Health and Lemonade?”

I mean why the Fudge not? Wonder if we sell cotton candy too?

Well we did tell them to think boldly, strategically, and expeditiously. Looks like they listened.

luxetvox
Legendary

Posts: 1,418

Thanks Phil! You're Doing Great! Feb 26, 2024 23:36:10 GMT icemandios and biotech like this

Quote

Post by luxetvox on Feb 26, 2024 23:36:10 GMT

Aug 25, 2023 14:05:25 GMT wsucougarbill said:

So wait, do I have this correct?

Two weeks ago we added an Etsy storefront in China.

And the much hoped for corporate name change is “Opko Health and Lemonade?”

I mean why the Fudge not? Wonder if we sell cotton candy too?

Well we did tell them to think boldly, strategically, and expeditiously. Looks like they listened.

This company becomes more curious with each passing day. Which is why I'm sticking around. I gotta see how this thing turns out. It's like the burning house of Joanna Burden in Faulkner's Light in August. The fire burns for a long time, the glow of the blaze attracting crowds of townspeople from Jefferson.

I'm not unlike one of those in that crowd. Been watching this conflagration, or slow motion train wreck, for so long that I have to wait for the benediction at the end of the cremation, or the phoenix to rise from the ashes. In either outcome, hopefully Frost will have melted like The Wicked Witch and we can all return to Kansas at the end of the nightmare.

biotech
Full Member

Posts: 111

Thanks Phil! You're Doing Great! Feb 27, 2024 0:20:11 GMT via mobile

Quote

Post by biotech on Feb 27, 2024 0:20:11 GMT

Amazing that nearly 30% of the float shares are being shorted in a stock valued at under $1.00. Even with a maximum upside of $1.00 a share and a theoretical downside of infinity. Management should be embarrassed of the way investors view them.

greys Supreme Member Posts: 658 Apr 18, 2017 20:34:46 GMT	Thanks Phil! You're Doing Great! Feb 27, 2024 1:34:11 GMT via Tapatalk lookingforatenbagger likes this Quote Select Post Deselect Post Link to Post Member Give Gift Back to Top Post by greys on Feb 27, 2024 1:34:11 GMT There is one possible upside with Frost in place…he will not let the doors shutter or allow OPK to go bankrupt?

luxetvox
Legendary

Posts: 1,418

Thanks Phil! You're Doing Great! Feb 27, 2024 12:44:48 GMT Chuck-2, icemandios, and 1 more like this

Quote

Post by luxetvox on Feb 27, 2024 12:44:48 GMT

Feb 27, 2024 0:20:11 GMT biotech said:

Amazing that nearly 30% of the float shares are being shorted in a stock valued at under $1.00. Even with a maximum upside of $1.00 a share and a theoretical downside of infinity. Management should be embarrassed of the way investors view them.

Well, they are not. Frost, Rubin, and Logal collectively have the biggest set of balls of any public company management. It's as if they say, 'yup, we're lousy at what we do, and we're gonna grossly overpay ourselves for that lousiness....and there's nothing any of you idiots can do about it.'

They're overt answer is something like, 'we're doing the best we can and, even though we've failed shareholders for 9 years, we'll continue to pretend that we're committed by buying stock.'

As for the short interest, it is largely due to the convertible bond issuance. That is to say, the short position is not put on by dumb folks: they aren't naked short, which would of course result in a maximum gain of $1.00. They are hedged against a long position in the convert, and can trade both the equity and the bond as the stock price moves around, booking small but cumulatively significant gains in either instrument along the way.

For years I was looking forward to the 2025 bonds finally being redeemed, and therefore having that arbitrage overhang removed from the stock price equation. But then, as the know-it-alls here and on Yahoo (and you know who you are) were crowing about Opko being net debt free, and forecasting the rolling in of Ngenla revenue which, plus existing cash and line of credit, would be used retire the 2025 bonds....at the height of this misinformed punditry, Frost pulled yet another of his patented shareholder destruction moves and rescheduled that debt, instead of selling underperforming assets to pay it off. And the share price sunk 33%. And the short interest exploded, because that's what happens when a mortally wounded company, with brain-impaired-yet-overpaid management, chooses the convertible market as a financing source.

lookingforatenbagger
Eternal

Posts: 3,500

OPKO Investment: Long
Sentiment: Neutral
Recommendation: Buy

Thanks Phil! You're Doing Great! Feb 27, 2024 15:52:34 GMT

Quote

Post by lookingforatenbagger on Feb 27, 2024 15:52:34 GMT

Feb 27, 2024 12:44:48 GMT luxetvox said:

Feb 27, 2024 0:20:11 GMT biotech said:

Amazing that nearly 30% of the float shares are being shorted in a stock valued at under $1.00. Even with a maximum upside of $1.00 a share and a theoretical downside of infinity. Management should be embarrassed of the way investors view them.

...
As for the short interest, it is largely due to the convertible bond issuance. That is to say, the short position is not put on by dumb folks: they aren't naked short, which would of course result in a maximum gain of $1.00. They are hedged against a long position in the convert, and can trade both the equity and the bond as the stock price moves around, booking small but cumulatively significant gains in either instrument along the way.[1]

For years I was looking forward to the 2025 bonds finally being redeemed, and therefore having that arbitrage overhang removed from the stock price equation. But then, as the know-it-alls here and on Yahoo (and you know who you are) were crowing about Opko being net debt free, and forecasting the rolling in of Ngenla revenue which, plus existing cash and line of credit, would be used retire the 2025 bonds [2].....at the height of this misinformed punditry, Frost pulled yet another of his patented shareholder destruction moves and rescheduled that debt, instead of selling underperforming assets to pay it off. [3] And the share price sunk 33%. And the short interest exploded, because that's what happens when a mortally wounded company [4], with brain-impaired-yet-overpaid management, chooses the convertible market as a financing source.

1. I agree there are very few unprotected shorts with most "shorts" made as hedge. In short the short interest number is useless right now.

2. I'd be willing to have an intelligent discussion on the worst case of the value of Opko's assets but it seems the "Frost Bad" ranting precludes that. Let's take that on tomorrow after the report to discuss it.

3. I agree selling BRL would have a much much better move than the 2025 convert.

4. I disagree that Opko is a "mortally wounded company." Let's take that on tomorrow as well.

Brandolini's Law: The amount of energy needed to refute bullshit is an order of magnitude bigger than that needed to produce it.

luxetvox
Legendary

Posts: 1,418

Thanks Phil! You're Doing Great! Feb 27, 2024 17:28:29 GMT

Quote

Post by luxetvox on Feb 27, 2024 17:28:29 GMT

Apr 18, 2017 20:34:46 GMT greys said:

There is one possible upside with Frost in place…he will not let the doors shutter or allow OPK to go bankrupt?

So let me get this straight. Frost has been in place since inception and, to extend your metaphor, has perhaps not allowed the doors to shut (what I think you meant), but has certainly allowed them to continue closing? And, moreover, you think Frost single handedly can prevent the company from bankruptcy? But yet his every decision has prevented profitability.

And Opko not closing its doors, or Frost not allowing bankruptcy (an incorrect assumption).....these outcomes constitute UPSIDE?

And, finally, one member here actually LIKES your post? Really?

Geez, no wonder Frosty has been able to screw the pooch, repeatedly, with impunity. Apparently those who have invested in him think he's the ultimate put option for Opko. Wow.

luxetvox
Legendary

Posts: 1,418

Thanks Phil! You're Doing Great! Feb 27, 2024 17:35:22 GMT

Quote

Post by luxetvox on Feb 27, 2024 17:35:22 GMT

Jan 22, 2016 18:48:03 GMT lookingforatenbagger said:

it seems the "Frost Bad" ranting precludes that

I ask you: has he been good?

Jan 22, 2016 18:48:03 GMT lookingforatenbagger said:

I disagree that Opko is a "mortally wounded company." Let's take that on tomorrow as well.

Any results posted today won't controvert the obvious facts, borne from years of evidence, that Opko is a damaged company. And the wounds are many, all self-inflicted by the poor decisions and execution of the guy who has occupied the CEO seat because he can, because no one has the guts to ask him to step away, not because he has proven any capability to lead the company, or his investment therein, to profitability.

greys
Supreme Member

Posts: 658

Thanks Phil! You're Doing Great! Feb 27, 2024 17:49:56 GMT via Tapatalk

Quote

Post by greys on Feb 27, 2024 17:49:56 GMT

Feb 27, 2024 17:28:29 GMT luxetvox said:

Apr 18, 2017 20:34:46 GMT greys said:

There is one possible upside with Frost in place…he will not let the doors shutter or allow OPK to go bankrupt?

So let me get this straight. Frost has been in place since inception and, to extend your metaphor, has perhaps not allowed the doors to shut (what I think you meant), but has certainly allowed them to continue closing? And, moreover, you think Frost single handedly can prevent the company from bankruptcy? But yet his every decision has prevented profitability.

And Opko not closing its doors, or Frost not allowing bankruptcy (an incorrect assumption).....these outcomes constitute UPSIDE?

And, finally, one member here actually LIKES your post? Really?

Geez, no wonder Frosty has been able to screw the pooch, repeatedly, with impunity. Apparently those who have invested in him think he's the ultimate put option for Opko. Wow.

Message was mostly in jest as I struggle to find any upside

luxetvox Legendary Posts: 1,418 Jul 15, 2022 18:27:45 GMT	Thanks Phil! You're Doing Great! Feb 27, 2024 19:02:27 GMT Quote Select Post Deselect Post Link to Post Member Give Gift Back to Top Post by luxetvox on Feb 27, 2024 19:02:27 GMT Apr 18, 2017 20:34:46 GMT greys said: Message was mostly in jest as I struggle to find any upside Ah ok. Fret not, there is upside: if Frost is out of the picture, the asphyxiation can stop.

luxetvox
Legendary

Posts: 1,418

Thanks Phil! You're Doing Great! Feb 28, 2024 13:29:12 GMT Chuck-2, icemandios, and 1 more like this

Quote

Post by luxetvox on Feb 28, 2024 13:29:12 GMT

Even though the following post relates to a specific stock (VKTX), its gist is apropos of the thread's title, 'Thanks Phil! You're Doing Great' or, as one apologist likes to describe that sentiment, Frost bad.

Bill and I have mentioned Viking Therapeutics. In an early morning post yesterday, I noted the doubling of VKTX's market cap from Monday, due to encouraging results from their weight loss drug candidate. Viking in fact ended Tuesday's session with yet another overnight doubling, up $46+, to $85, a 42 Bagger from the 6/22 price of $2.02. Now sporting a market cap exceeding that of Ascendis (I guess weight loss is a little bigger market than HGH), what did VKTX management do? They of course did the right thing and announced a secondary offering:

Viking Therapeutics Announces Proposed Public Offering of Common Stock

SAN DIEGO, Feb. 27, 2024 /PRNewswire/ -- Viking Therapeutics, Inc. ("Viking")
(Nasdaq: VKTX), a clinical-stage biopharmaceutical company focused on the
development of novel therapies for metabolic and endocrine disorders, today
announced that it has commenced an underwritten public offering of $350.0
million of shares of its common stock. Viking also intends to grant the
underwriters a 30-day option to purchase up to an additional $52.5 million of
shares of its common stock. All of the shares of common stock to be sold in
the proposed offering are to be sold by Viking. The proposed offering is
subject to market and other conditions, and there can be no assurance as to
whether or when the proposed offering may be completed, or as to the actual
size or terms of the proposed offering.
Morgan Stanley, Leerink Partners, William Blair, Raymond James, Stifel and
Truist Securities are acting as joint book-running managers for the proposed
offering.
Viking currently intends to use the net proceeds from the proposed offering
for continued development of its VK2809, VK2735 and VK0214 programs and for
general research and development, working capital and general corporate
purposes.

Why? Because they COULD. Management made a tactical decision to raise money because the opportunity presented itself, not because they HAD to. Hey Phil, take a break from the penny stock trading and pay attention. Even if the underwriters exercise the greenshoe option and the company raises $400 million, and even if the bankers price it 'in the hole', say at $80, that's only 5 million more shares on a 100 million share base.

And a couple interesting things. First, I mentioned a possible pricing 'in the hole', perhaps at a discount to a closing price. We don't know what will happen yet, but guess what....investors aren't afraid of the possible dilution, so they bid the stock UP $3 to $88 after hours....because THEY WANT IN on an exciting story. This morning the stock is basically unchanged from the close. Our own Yale Jen skipped Opko's call. Apparently he was too busy writing a new report on the outcome of the Obesity Phase 2 results from VKTX, describing them as "An Out of the Park Home Run." And the other interesting thing is what investment bank is leading the financing. It's Morgan Stanley, which is interesting because they do not cover Viking, but they will after the offering. So Viking is now reaching a bigger, broader, more deep-pocketed investor audience than they have so far through the regional and boutique size banks who have faithfully written research (Laidlaw, Leerink, Wainwright, BTIG, et al.).

On the Opko call, Logal boasted about how management decided to issue the toxic convertible, after engaging "In consultation with our advisors at J.P. Morgan." Advisors who were NOT on the call. And why would they....they took the check and ran. He also said "he offering was oversubscribed and brought in an impressive group of new prominent investors to OPKO." Of course it was oversubscribed: IT WAS FREE MONEY FOR THE ARBS. For Logal to call these scorpions 'prominent investors' just shows how the C suite is either delusional or mentally challenged.

Another quarter, another stadium of investors chanting: "Thanks Phil! You're Doing Great!!"

wsucougarbill
Full Member

Posts: 156

Thanks Phil! You're Doing Great! Feb 28, 2024 14:39:01 GMT via mobile

Quote

Post by wsucougarbill on Feb 28, 2024 14:39:01 GMT

Feb 28, 2024 13:29:12 GMT luxetvox said:

Even though the following post relates to a specific stock (VKTX), its gist is apropos of the thread's title, 'Thanks Phil! You're Doing Great' or, as one apologist likes to describe that sentiment, Frost bad.

Bill and I have mentioned Viking Therapeutics. In an early morning post yesterday, I noted the doubling of VKTX's market cap from Monday, due to encouraging results from their weight loss drug candidate. Viking in fact ended Tuesday's session with yet another overnight doubling, up $46+, to $85, a 42 Bagger from the 6/22 price of $2.02. Now sporting a market cap exceeding that of Ascendis (I guess weight loss is a little bigger market than HGH), what did VKTX management do? They of course did the right thing and announced a secondary offering:

Viking Therapeutics Announces Proposed Public Offering of Common Stock

SAN DIEGO, Feb. 27, 2024 /PRNewswire/ -- Viking Therapeutics, Inc. ("Viking")
(Nasdaq: VKTX), a clinical-stage biopharmaceutical company focused on the
development of novel therapies for metabolic and endocrine disorders, today
announced that it has commenced an underwritten public offering of $350.0
million of shares of its common stock. Viking also intends to grant the
underwriters a 30-day option to purchase up to an additional $52.5 million of
shares of its common stock. All of the shares of common stock to be sold in
the proposed offering are to be sold by Viking. The proposed offering is
subject to market and other conditions, and there can be no assurance as to
whether or when the proposed offering may be completed, or as to the actual
size or terms of the proposed offering.
Morgan Stanley, Leerink Partners, William Blair, Raymond James, Stifel and
Truist Securities are acting as joint book-running managers for the proposed
offering.
Viking currently intends to use the net proceeds from the proposed offering
for continued development of its VK2809, VK2735 and VK0214 programs and for
general research and development, working capital and general corporate
purposes.

Why? Because they COULD. Management made a tactical decision to raise money because the opportunity presented itself, not because they HAD to. Hey Phil, take a break from the penny stock trading and pay attention. Even if the underwriters exercise the greenshoe option and the company raises $400 million, and even if the bankers price it 'in the hole', say at $80, that's only 5 million more shares on a 100 million share base.

And a couple interesting things. First, I mentioned a possible pricing 'in the hole', perhaps at a discount to a closing price. We don't know what will happen yet, but guess what....investors aren't afraid of the possible dilution, so they bid the stock UP $3 to $88 after hours....because THEY WANT IN on an exciting story. This morning the stock is basically unchanged from the close. Our own Yale Jen skipped Opko's call. Apparently he was too busy writing a new report on the outcome of the Obesity Phase 2 results from VKTX, describing them as "An Out of the Park Home Run." And the other interesting thing is what investment bank is leading the financing. It's Morgan Stanley, which is interesting because they do not cover Viking, but they will after the offering. So Viking is now reaching a bigger, broader, more deep-pocketed investor audience than they have so far through the regional and boutique size banks who have faithfully written research (Laidlaw, Leerink, Wainwright, BTIG, et al.).

On the Opko call, Logal boasted about how management decided to issue the toxic convertible, after engaging "In consultation with our advisors at J.P. Morgan." Advisors who were NOT on the call. And why would they....they took the check and ran. He also said "he offering was oversubscribed and brought in an impressive group of new prominent investors to OPKO." Of course it was oversubscribed: IT WAS FREE MONEY FOR THE ARBS. For Logal to call these scorpions 'prominent investors' just shows how the C suite is either delusional or mentally challenged.

Another quarter, another stadium of investors chanting: "Thanks Phil! You're Doing Great!!"

Investors seem terrified of the secondary, only up $10 on the news.

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