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Theodore Cohen  

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  • The Anatomy And Consequence Of Arena's Bear Raid [View article]
    One of many problems was that FINRA (and the SEC) gave the matter only the most cursory of looks, and then, allowed all trades to stand.

    If wasn't until Sen. Grassley demanded an investigation in August of that year that the SEC OIG stepped in and took at look at what the Enforcement Division was (or was not) doing. The fact is, everyone had the name of the Yahoo! poster who pre-announced the bear raid on that day...his 'name' is 'monthaphumchareon.' Now, any SEC attorney worth his or her salt could have had a subpoena delivered to Yahoo! in a New York Minute, and from there, it wouldn't take much to run the traps. So, as one person posted above, what's taking the SEC so long? I mean...it's been 3 years, already. Maybe the Commission has no intention whatsoever of giving Sen. Grassley the satisfaction of following through on his demands and will let the clock run out on the statute of limitations.

    Is this a great country, or what?

    Ted

    Ted
    Jun 25, 2012. 02:22 PM | 1 Like Like |Link to Comment
  • The Anatomy And Consequence Of Arena's Bear Raid [View article]
    I concur...even a blind squirrel finds a nut now and then.

    Ted
    Jun 25, 2012. 01:38 PM | Likes Like |Link to Comment
  • The Anatomy And Consequence Of Arena's Bear Raid [View article]
    Well, sometimes stop orders work, and somethings they don't. You were lucky. Compare your experience to what happened to those who were holding Dendreon (DNDN) on April 28, 2009, when the stock dropped from $24.50 to $7.50 in 75 seconds. I wonder how many of those whose stops were triggered got out with a 'nice profit' and had the guts to step back in after that beating.

    BTW, that bear raid was the subject of an SEC Enforcement Division investigation (on the demand of Sen. Chuck Grassley), and apparently, it is still ongoing because as late as last April, the SEC refused to reveal any more information than can be found in Report OIG-521 below (you will see that the entire last page is redacted because according to the SEC, to reveal the contents would compromise an ongoing investigation (civil? FBI?))

    http://bit.ly/vxFFqN

    Ted
    Jun 25, 2012. 12:17 PM | 3 Likes Like |Link to Comment
  • The Anatomy And Consequence Of Arena's Bear Raid [View article]
    This ARNA bear raid, of course, was preannounced.

    I wonder if the poster who pre-announced it on Yahoo! is the same one who preannounced the Pozen bear raid in April, 2010? (that one used the pseudonym guyrogers3456)? From my Seeking Alpha article on the Dendreon and Pozen Bear Raids:

    “And lest you think the bear raid on Dendreon’s stock was a singular event in the pharma space, consider what befell Pozen (http://bit.ly/Labzfo) on April 30, 2010. This time ‘Paul Revere’ was none other than someone named ‘guyrogers3456,’ posting on the Yahoo!’s POZN message board.”

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    This stock will go SOUTH today, in the next 45 minutes WATCH 30-Apr-10 12:17 pm
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    The result? Take a look:

    http://bit.ly/KJlvy0

    Here’s the link to the announcement on the ARNA bear raid…

    http://bit.ly/LLCi2A

    I expect a bear raid on open 22-Jun-12 09:18 am
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    rogercheche...

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    FINRA is well aware of this activity, I assure you.

    Ted
    Jun 25, 2012. 11:38 AM | 4 Likes Like |Link to Comment
  • Arena Pharmaceuticals Is Now An Attractive Buy [View article]
    That may be. Perhaps he should have his material reviewed to ensure cultural and language differences don't interfere with what he is attempting to convey.
    Apr 9, 2012. 09:52 AM | 1 Like Like |Link to Comment
  • Arena Pharmaceuticals Is Now An Attractive Buy [View article]
    This seems to be a full-time job.

    I suggest you be more careful in your choice of language. To wit:

    "Another biotech company seems to have gone way beyond the way of Keryx, Dendreon (DNDN) has taken a big hit in the past year, going from $40 to $10 in the market. The high of $40 was due to the fact that the company had approved and released a prostate treatment drug known as Provenge. While the outlook was great for Dendreon, it did not hold up, due to the high price and low benefits. This is a case where the successful release of the drug did not equate to a long term benefit."

    Provenge, actually, is not the highest price treatment on the market today. There are several recently approved treatments in the cancer space priced well above $100,000. The initial 'problem' with Provenge was 'price density.' That is, the three infusions are given at two-week intervals, which means that the $93,000 cost is incurred in one month. Other treatments, which may, for example, have monthly charges of $5000 and higher, don't experience this type of 'price density.' Regardless, once CMS issued uniform reimbursement guidelines, as they did last summer, Medicare and other insurers had no problem reimbursing for Provenge. Now, at least 75% of all patients receiving the treatment have no or little out-of-pocket expenses.

    As for 'low benefits,' I simply don't know what to make of such ill-conceived and careless remarks. The treatment was approved on the basis that it provided a MEDIAN 4.1-month life extension benefit with minimal side effects (mild flu-like symptoms for 2 or 3 days). More recent analyses that took into the account the patients on the placebo arms of the pivotal Phase 3 trials for Provenge who crossed over and were given a frozen form of the treatment (Frovenge) had MEDIAN survival life-extension benefits of between 7.8 and 12.1 months. See the article below, for example:

    http://seekingalpha.co...

    These are significant benefits by any measure.

    Perhaps you would prefer Taxotere's MEDIAN 2-month survival benefit and the side effects of chemo if you were faced with having to fight the disease.
    Apr 9, 2012. 09:44 AM | 5 Likes Like |Link to Comment
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