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Post by lcd on Sept 25, 2014 15:51:12 GMT
I have recently started to follow this company and am wondering if anyone else has too. Here is the overview of the company from their site; OXiGENE is a clinical-stage biopharmaceutical company developing novel therapeutics to treat cancer. The Company is focused on developing vascular disrupting agents (VDAs), which are compounds that selectively disrupt abnormal blood vessels associated with solid tumor survival and progression. The Company's lead clinical product candidate, fosbretabulin (also known as ZYBRESTAT), is in development as a potential treatment for solid tumors. OXi4503, its second-generation product candidate, is in development for acute myeloid leukemia (AML). OXiGENE is dedicated to leveraging its intellectual property and therapeutic development expertise to bring life-extending and life-enhancing medicines to patients. Their phase 2 trial is using ZYBRESTAT in combination with a Roche owned chemo treatment that is not yet approved for ovarian cancer in the US so it is easy to speculate that if phase 2 trials go well then Roche would partner or buy the company. They announced that they are presenting their results on November 9. They have $36 million in cash and their market cap is only about $44 million at these levels ($2.10). The new CEO did a presentation at Rodman & Renshaw; wsw.com/webcast/rrshq24/oxgn/He also wrote a nice introductory blog when he first started earlier in the summer; www.oxigene.com/uploads/misc/OXGN_Shareholder_Letter_June_2014.pdf
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Post by lcd on Nov 13, 2014 15:20:14 GMT
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Post by JHam on Nov 17, 2014 17:18:49 GMT
Thanks for the updates lcd!
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Post by lcd on Nov 18, 2014 15:31:16 GMT
I don't know what to think about this stock. It definitely seems oversold after getting surprise early news that Avastin was approved. It is trading at new 52 week lows today but I don't see firm catalysts on the horizon to cause significant gains. I will continue to hold for now.
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Post by JHam on Nov 19, 2014 0:11:01 GMT
I don't know what to think about this stock. It definitely seems oversold after getting surprise early news that Avastin was approved. It is trading at new 52 week lows today but I don't see firm catalysts on the horizon to cause significant gains. I will continue to hold for now. You've perked my interest interest in this one. I haven't done any DD on this, but going by your first post in this thread the market cap is now equal to cash hand just about. Any idea what the quarterly burn rate is?
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Post by JHam on Nov 19, 2014 5:48:37 GMT
I had a few hours on a long train to actually do some deeper reading into this one. Here is my rundown. Highlights: - $33M in cash at end of Q3 - $36M current market cap - 20M shares outstanding - 7.5M warrants - Closing price today (11/18) $1.78 - Recently completed a Phase 2 combined therapy trial with Roche with their lead candidate Zybrestat (Fosbretabulin) - Large pipeline Summary: Zybrestat is a vascular disrupting agent (VDA) drug that targets and destroys blood vessels in a tumor starving it of oxygen and essentially killing it off. The Phase 2 trial combined their lead candidate drug Zybrestat with Roche's cancer drug Avastin in the treatment of ovarian cancer. The data on 107 patients (released in March 2014) showed that when Avastin is combined with Zybrestat there is a 32% increase in reduced re-growth of tumor or death, which was the primary endpoint and proved statistically significant. The PPS shot up 134% to $5.65 on the news. However, OXGN used that news to do not one, but two capital raises within 3 months of each other grossing $28M. That added about 12M or so shares to the float which is a lot considering that now there are still only 20M o/s. The cash is expected to last them through 2016. The downside is that there are no real short/mid term catalysts that I can see. Maybe some data results from some of their other trials. It has been beaten down pretty bad over the past 6 months and is trading right at the year low. The fact that it is basically trading at cash level makes it interesting for me. I think the risk at these levels is pretty low. A lot depends on where they go from here with Phase 3, but if Zybrestat improves the performance of Avastin, it only makes sense that Roche will look to continue working with OXGN in the future. Potentially another combined Phase 3, followed up with an NDA. Annual global sales of Avastin is around $7B, so if Roche decides it's worth it to them, it could obviously be pretty huge for OXGN, especially at the current $36M market cap. Q3 10Q: www.sec.gov/Archives/edgar/data/908259/000119312514410532/d799265d10q.htmLatest corporate presentation (Oct. 2014): investor.oxigene.com/events.cfmAdam Feuerstein article: www.thestreet.mobi/story/12525896/1/oxigene-surprises-with-positive-ovarian-cancer-study-success.html
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Post by JHam on Nov 19, 2014 5:55:43 GMT
The only thing I can think of as to why it has trended down (besides the dilution) is just people being skittish about what the next step is. Investors could be worried that OXGN will have to foot the bill for the entire Phase 3. On the other hand Roche could really have really liked what they saw in the Phase 2 combined therapy results and are in the middle of structuring some kind of deal for Phase 3 and beyond.
I am interested in this one and may start a position soon. As I said above, the fact that it is trading at cash level is pretty appealing.
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Post by lcd on Dec 15, 2014 19:21:48 GMT
For anyone interested in buying stocks with a market cap less than their cash on hand, OXGN just entered that zone. The price is all over the place today for no obvious reason but anything under $1.60 is pretty much a market cap lower than cash on hand. I have held a small amount of shares and am tempted to buy more but want to see where the price goes later this week.
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Post by JHam on Dec 16, 2014 5:28:11 GMT
For anyone interested in buying stocks with a market cap less than their cash on hand, OXGN just entered that zone. The price is all over the place today for no obvious reason but anything under $1.60 is pretty much a market cap lower than cash on hand. I have held a small amount of shares and am tempted to buy more but want to see where the price goes later this week. Thanks for reminding me about this one lcd. I like these TACL (trading-at-cash-level) stocks (just made that term up) I am going to review this one a little bit more and may finally open a small position to get my feet wet with this one.
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Post by JHam on Jan 3, 2015 2:35:03 GMT
For anyone interested in buying stocks with a market cap less than their cash on hand, OXGN just entered that zone. The price is all over the place today for no obvious reason but anything under $1.60 is pretty much a market cap lower than cash on hand. I have held a small amount of shares and am tempted to buy more but want to see where the price goes later this week. Lots of rumors swirling around about a Roche/OXGN buyout happening next week. Apparently it was reported at stockwits, so I take it with a very large grain of salt. They make random buyout rumors every day and they almost never come to fruition. Anyway, I almost opened a position today, but decided to go with ATHX instead. Still have my eyes on this one though and am anxious to see how things play out.
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Post by lcd on Jan 3, 2015 16:40:10 GMT
I have seen those rumors for the last couple of weeks but they seem totally unsubstantiated. I can certainly imagine Roche buying them at some point but I think they will need to move farther along in the process before Roche decides to acquire them.
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Post by JHam on Jan 5, 2015 14:08:02 GMT
Don't look now, but OXGN is up big pre-market.
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Post by lcd on Jan 5, 2015 15:30:26 GMT
Well, it didn't turn into anything. I am averaged in with a pretty small holding at $1.97 so I don't mind being in the red but there isn't a lot to see for catalysts on this one anytime soon. If these rumors can get the price back over $2, I might get out.
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Post by JHam on Jan 5, 2015 15:44:05 GMT
Well, it didn't turn into anything. I am averaged in with a pretty small holding at $1.97 so I don't mind being in the red but there isn't a lot to see for catalysts on this one anytime soon. If these rumors can get the price back over $2, I might get out. That is the main reason I have been hesitant about pulling the trigger with this one. While I like their cash position, there are no real catalysts to move it up in the near future, except a Roche buyout. At least from what I gather.
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Post by Yelk on Jan 24, 2015 4:43:23 GMT
I've been going over this company this evening and for some reason I get the feeling this is one of those ones that demands a LONG play.
Current situation:
$1.59 PPS nearly all time low today. Cash still strong for the time being.
I don't really have money to sit dormant but sometimes the super long plan at these levels can be interesting. I mean how much lower can this really go? Sure maybe nothing happens for months maybe even a year or more. I'm temped to put a super small chunk for fun in this and just totally forget about it. I'll be looking over the weekend though to see if there are better options. To me Monday seems a good entry point if I am to go in.
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Post by lcd on Jan 26, 2015 17:31:25 GMT
Yelk, I don't see what bad news could be on the horizon for this stock so I think the 52 week low ($1.48) should hold and I am just hoping for a surprise to move this one up later this year.
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Post by lcd on Jan 27, 2015 17:57:11 GMT
Oxigene is presenting at the BIO CEO & Investor Conference in New York next month. We haven't heard a peep from them in almost two months so hopefully they provide some guidance on their plans to move forward with fosbretabulin. investor.oxigene.com/releasedetail.cfm?releaseid=892929
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Post by Yelk on Jan 27, 2015 18:04:59 GMT
I was waiting for it to pop closer to 1.5 and now it is almost 1.7 should have got it when I said Oh well! Now I'm faced with entry decision.
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Post by Yelk on Jan 27, 2015 18:11:26 GMT
Sold the last of my APRI shares and got in here today at 1.67. Wouldn't be surprised if it went down a bit over the next 2 weeks but I don't foresee more than a 10% drop in the near future. This stock reminds me a bit of Nuvo (NRIFF) in that it has good cash and good upside potential. The difference between the two is Nuvo has an excellent catalyst/catalysts and this stock has good opportunity to get in at "ground zero." Like I stated before maybe nothing happens - However at this PPS if something DID happen be a sad opportunity to miss. I'm in for the ride with you lcd
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Post by Yelk on Jan 28, 2015 13:13:15 GMT
Lol... Hours after I sold my position of APRI 60% pre market . That's life I guess. Lets hope it was worth the move!
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