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A Few Words on Scamceutix – CTIX

If you haven’t been following the saga of sister companies Nanoviricides (NNVC), Cellceutix (CTIX) and Nanoantibiotics (NNAB) you have missed a fun few weeks. (Some background on Nanoviricides is here, read Duff McDonald‘s great piece in the New York Observer here and a fun blurb on NNAB at Barrons here).

Last week Mako Research published a devastating expose of Cellceutix on Seeking Alpha, read it here. Then, on Friday of last week the company issued a bizarre attempt at a rebuttal, aping the language of retail bagholders referring to Mako as a “Shorter”. Here is the full text of CTIX’s bizarre rant. Then on Monday of this week, the company issued yet more insane ramblings, here.

One of the many valid criticisms of CTIX is that the company historically claimed founder and President Krishna Menon received his PhD at Harvard. There are even signed financial statements submitted to the SEC containing such claims. Of course, to those who bothered to do simple background checks it was obvious this claim was a lie.

Scamceutix however, in Monday’s missive tries to explain it away as a mere “administrative error”. Says the company:

There was an administrative error stating that Dr. Menon earned his PhD from Harvard, when the fact is that Dr. Menon worked as a research scientist at Dana-Farber Cancer Institute. This error was corrected years ago.

Then how does the company explain away the fact that sister scam, Nanoviricides, claims Menon, their Chief Regulatory Officer, also got his PhD from Harvard?

https://web.archive.org/web/20070703033710/http://www.nanoviricides.com/menon.html

“Administrative” Error Or Pattern Of Fraud?

And although CTIX claims the supposed error was “corrected” that is another lie. The company has not issued amended filings to correct the “administrative error”.

Extra credit assignment: Read this piece revealing the many lies of CTIX founder and President, and NNVC Chief Regulatory Officer Krishna Menon, here.

The content contained in this blog represents only the opinions of the author. The author may hold either long or short positions in securities of various companies discussed in the blog. This commentary in no way constitutes investment advice, and should never be relied on in making an investment decision, ever. This blog is not a solicitation of business: all inquiries will be ignored. The content herein is intended solely for the entertainment of the reader, and the author.

Another press release, and another set of lies from Galena Biopharma – GALE

After the close on the 6th of August scandal plagued Galena Biopharma (GALE) issued a press release detailing their earnings (or lack thereof) for the second quarter of 2015.

The full release is available here.

And in typical Galena fashion, even the very first bullet point is misleading. The company says:

Completed over-enrollment in the NeuVax Phase 3 PRESENT breast cancer immunotherapy clinical trial and presented encouraging data for GALE-301 and GALE-401 programs.

Of course, readers will remember that the GALE-401, aka Anagrelide CR, results were not encouraging at all. Not familiar with Galena’s spin on the terrible trial results? Catch up here.

Today we’ll focus on the second bullet point, where Galena makes an easily disproved claim. The company says:

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Script Data, Part 4 – A Tale of Two Drugs, Continued. – MNKD, SNY

An update in our ongoing examination of the performance of two recent drug launches from Sanofi (SNY). One is Toujeo, an injectable. The other is Mannkind‘s (MNKD) much hyped, beloved by retail investors, inhaled insulin Afrezza. These two drugs are both for the treatment of diabetes. Sanofi uses the same salesforce, who would be detailing the exact same doctors for both drugs. Can you spot the commercial flop? Remember folks, we are looking for “up and to the right”, we don’t want to see the patient flatlining.

Spot the dismal, pathetic, failure.

Spot the dismal, pathetic, failure.

Can Jefferies’ resident Mannkind moron Shaunak Deepak? Just for fun we’ve extended out the Afrezza data for the full 23 weeks it has been on the market. Toujeo has only been on the market for four months as of the last sales update.

The content contained in this blog represents only the opinions of the author. The author may hold either long or short positions in securities of various companies discussed in the blog. This commentary in no way constitutes investment advice, and should never be relied on in making an investment decision, ever. This blog is not a solicitation of business: all inquiries will be ignored. The content herein is intended solely for the entertainment of the reader, and the author.

UPDATED – Script Data, Part 3 – A Tale of Two Drugs – MNKD, SNY

UPDATED 23 June 2015 to include weeks 12 and 13 post launch for both drugs.

Spot the failure. Two recent drug launches, using the exact same salesforce from Sanofi (SNY), targeting the exact same doctors. Presenting Toujeo vs. Afrezza.

A Tale of Two Drug Launches

A Tale of Two Drug Launches

Can you spot the commercial flop? Can Jefferies’ resident Mannkind (MNKD) moron Shaunak Deepak?

The content contained in this blog represents only the opinions of the author. The author may hold either long or short positions in securities of various companies discussed in the blog. This commentary in no way constitutes investment advice, and should never be relied on in making an investment decision, ever. This blog is not a solicitation of business: all inquiries will be ignored. The content herein is intended solely for the entertainment of the reader, and the author.

Script Data, Script Data, Updated – GALE, MNKD, KERX, etc.

Back by popular demand, the chart showing the worst drug launches in recent memory, original here, has been updated to include a few more weeks of data, and the relaunch of dreadful Galena’s (GALE) me-too fentanyl product, Abstral.

Presented for your amusement:

Updated Chart of the Worst Drug (re)Launches in Recent Memory

Updated Chart of the Worst Drug (re)Launches in Recent Memory

The content contained in this blog represents only the opinions of the author. The author may hold either long or short positions in securities of various companies discussed in the blog. This commentary in no way constitutes investment advice, and should never be relied on in making an investment decision, ever. This blog is not a solicitation of business: all inquiries will be ignored. The content herein is intended solely for the entertainment of the reader, and the author.

Adam S. Gottbetter’s Very Bad Day – EKSO, NTRP, CURM, & More

UPDATE: Read Adam S. Gottbetter’s plea agreement:

USA v GOTTBETTER

Delusional, self-important, penny stock lawyer Adam S. Gottbetter is having a really bad day. He was first exposed in Barron’s in a great piece by Bill Alpert in 2009. Read it here. Today, 6 years later, in an amazingly rare action against a lawyer, the SEC charged Gottbetter with a litany of offenses.

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Script data, script data, on the wall, who’s the worst bio-dreck of them all? – KERX, GALE, MNKD

One of our favorite things to do at BuyersStrike! HQ is make fun of investors, usually retail, the sell side shills that prey on them, or very inexperienced buy-siders, who use ridiculous jargon like “PPS”, “uplist” and a new favorite “de-risked.”

Many investors seem to believe that with an approved drug a company magically becomes “de-risked”. In actuality, getting a drug approved (or buying an already approved drug) is only the beginning of the struggle for bio-dreck companies, moron management teams, and bagholder investors.

Presented for our, and hopefully your, amusement, is a graph of some of the very worst drug launches in recent memory.

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