CTIC - Cell Therapeutics Inc. (NASDAQ)

[econcom]

BY ADAM FEUERSTEIN

Case in point: Monday night's press release, which is a classic yarn filled
with obfuscation and lead burying. The major news, a huge setback for Cell
Therapeutics, is that the company withdrew its European approval application
for the lung cancer drug Opaxio.
For months, Cell Therapeutics' CEO Jim Bianco has been talking about the
potential for Opaxio's European approval in lung cancer before the end of
the year. The drug's European review became an even more central story line
for Cell Therapeutics after the Food and Drug Administration decided to
extend the review of the company's other cancer drug, pixantrone, to April
2010 from December 2009.
Opaxio, the lung cancer drug formerly known as Xyotax, is no more. That's
bad news for Cell Therapeutics. But does the company just admit the setback
to its shareholders in a direct, straightforward manner? Of course not!
Instead Bianco & Co. applies a bright red shade of lipstick to the pig.
I'm referring to the headline of Monday's press release: "Pivotal
Registration Trial of OPAXIO Maintenance Therapy in First-Line Ovarian
Cancer Reaches Enrollment Milestone of 600 patients, Cell Therapeutics and
the Gynecologic Oncology Group Discuss Potential for Early Interim
Analysis."
Um. Excuse me, but that's really old news, like six-months-ago old news

[erlik]

I am glad that I sold my position a few weeks ago when the stock traded around $1.60 (I did only make a very small profit, but that's better than a loss). IMHO the withdrawal of the Opaxio EU registration is a major blow for CTIC.

Barring stellar news from the ovarian cancer trial I think that the stock will retreat somewhat in the short term and that there will be opportunities to re-enter this stock (or average down) at a lower PPS than the current $1.47. The stock could really climb back up in April next year or on ovarian cancer news.

[nav7100]

I started researching BSDM on 9/17/09 (from *************) and had a good feeling about it.
RSI was 89. MACD was over 0.
Was considering buying this weekend. Didn't buy. Look at it today. :-(

BSD Medical Corporation - Google Finance

Well - better luck next time.


nav7100

Has anyone else also researched this? What do u think about it. 3 months/6 mo hold?

CEL-SCI Corporation (Public, AMEX:CVM)

I looked at this also on 917 but didn't bit. See where it is today.

CEL-SCI Corporation - Google Finance

Any input is appreciated. I feel this may still go up after it goes down a bit.

[crazydog11]

i sold it @1.60...lucky...didn't lost a lot of money..

[barkmandog]

I didn't want to bring this back to the top just to say I sold all my shares tuesday for 1.42, but since ideology started a new CTIC thread I figured I would. With Opaxio set back to phase II (as Adam F. said, the bait and switch) I am going to sit on the sidelines and watch for awile.

[econcom]

CEO James Bianco sell other 318,621 shares at 1,19$

[FXSTcmh]

I sold all at $1.53. Made some good profit. Now, moving right along, I am going to look real hard at IMGG (per the IMGG thread on here).
GLTA

[medic_2010]

CTIC lost OPAXIO for the lung ca review, CEO sold shares for 2 mil, I was long, but now out, be careful with the stock. I'm not a shorter, just cautious.

[jicjic]

Lately there has been much speculation about why the CEO and other officers sold significant amounts of stock. Because we live in a conspiracy theory society hardly anyone will take it at face value that the stock was sold given vesting parameters and a need to pay taxes. The other idea floated by Adam Feuerstein is that something must be dreadfully wrong with the company for so many shares to be sold. Here is my take on it (I don't necessarily disagree with the plausibility of some of Adam's commentary I just think he chooses to view it one way and has the blinders on a bit too much). I think the tax argument is very plausible. Am I certain of it...no. Secondly, while any company worth their salt is going to try to push for priority FDA review, it was at the very best a marginal chance. Priority review is for wonder drugs, first in class or for when a drug is just so/so (see Allos Therapeutics) but is the only one available to treat a usually hopeless malady. Pixantrone is none of those but what it does show, particularly given the recent 18-month follow up of the clinical study where they show clear and significant remission as compared to the control group, is that they have a very real and effective drug on their hands. Bianco can be blamed for hype and trying to position his product in the most favorable light while operating in the face of a very cut throat industry and very cynical and jaded reporters who cover it. But as an investor no one wants a CEO who is a dud so frankly Bianco is compelled to AMP up the volume a bit. Where Feuerstein betrays his stated "I call it as I see it" mantra is when he describes running into Bianco at a conference and asking him how he is doing and then taking liberties with Bianco's "I'm surviving" comment. The gotcha brand of journalism so prevalent today was evident when Feuerstein compares just surviving to the proceeds of Bianco's stock sale. Who among us hasn't responded with an "I'm surviving" or similar comment in the course of polite banter or response? Moving on...the Novartis involvement is something that must be viewed positively. Sure, Novartis could try to tie CTIC up and make life difficult in an effort to control CTIC's direction but it is far more likely that Novartis will wind up being a player that allows CTIC to maximize its potential. This may well come in the form of a formal buyout or it may come by the taking of a large position. Either way it has the potential to be significant. The Opaxio withdrawal is a mystery but what I have seen on both sides of the argument is sheer speculation. Maybe Novartis is at work behind the scenes as a few posts have suggested. My best guess about the company's direction in the weeks and months ahead are that the stock either continues to rise steadily (with some pullbacks) toward the 4/23/10 decision date or the Company gets bought out. Have you asked yourself what would make Bianco sell on a day where the stock took an obvious dip? Why didn't he sell more at a recent high or wait for one and pay a limited penalty on his taxes? I think it is because he did care about public opinion and felt that it may look a whole bunch worse to sell on a day where the stock moves 30% up. This is not a sign of a scumbag or of someone who knows something dirty and doesn't want to reveal it. This is the sign of a guy worried about appearances who hoped to gain some sympathy or at least a bit of a hall pass selling at a low. It didn't work, he got attacked but it convinced me he's in this for the long haul!

[marketwatch]

I bailed after CTIC pulled their EU application. A EMEA panel questioned the trial design for Opaxio and CTIC ran instead of standing up for it which makes me wonder what the FDA is going to say about Pixantrone and it's trial design. I think that is a worthy concern.