Member Info for LordSnooty

no other word for it. Leeson again.

My broker, iWeb, has updated my account so it now shows actual daily closing price and the value of my XBIO holding, but it's all only theoretical. For example, there was only one trade yesterday, at 52.5c right at market open. That was the closing price since there were no other trades all day, despite the closing bid being at 55.01c. In any even, when I called iWeb they confirmed that I still cannot trade XBIO, but seemed more sanguine about the prospect of trading through them on NASDAQ - if we are not all dead before that happens.

is showing a rather different bid/ask to that which it usually shows. Perhaps a consequence of Tux's news?

a good idea to count your fingers and toes when Leeson reappears...

It will be interesting to see what the market - if you can call OTCQB a market - makes of this news. Since Baxter's $10m placing at 93c last February we have seen progress on several fronts, most importantly EPO in Oz, uniformly positive trial news with no adverse indications, and completion of corporate restructuring, hiring and re-focus. Coupling this with the excitement conveyed in the 10-q by what must surely be OncoHist - a "pivotal clinical milestone" in their words - we should surely raise debt and/or equity on decent terms.

Don't be too phased by that phrase about going concern - that's a standard caveat which was in the last quarterly filing too.

"Recent developments relating to the supply of clinical material are causing the Company to bring forward a major pre-clinical program spend in order to achieve what management considers to be a pivotal clinical milestone in the development of a key product candidate. While these expenditures could be restructured in order to defer or delay the rate of disbursement associated with this program, management believes that it is in the best interests of the Company’s shareholders to commit to the short term funding requirements of this program".

now out - capital increase coming by end Q4: "Management is currently engaged in discussions with investment bankers and other finance providers with the goal of raising capital by the end of 2014 and, based upon the progress of those on-going detailed discussions, is optimistic the Company will raise sufficient working capital to meet its obligations over the next twelve months. The Company’s planned capital raise is expected to be through debt (convertible or otherwise), by means of an equity-based instrument, or a combination thereof. The amount of capital we will be able to raise in that time frame will determine to what extent we will be able to fund and/or accelerate programs as they relate to our preferred level of discretionary spend on pre-clinical developments and clinical trials delivered by external service providers". http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10155210

Good luck to whoever buys BK11 (if Firestone are able to offload the white elephant).

not unexpected for those of us with the wit, breeding and intelligence to discern that XBIO is a solid, sterling company run by a chief executive of ability, albeit with a strong Bostonian accent.

You see what you've done? You've raised the Lazarus of Singapore from the dead.

As is often the case with pharma, much goes on behind the scenes which is by its nature confidential and hence unreported. As regards the NASDAQ listing, it is the stated intention given to Baxter by XBIO for the latter to "use their best endeavours" to list by October. The problem, I understand, is lack of liquidity. In July, for example, only 44k shares were traded, an average of about 2000 a day. One key to unlocking liquidity is to publish trial results that impress US investors. As I understand it, to that end XBIO are pushing ahead full steam with the OncoHist/Dana Farber/Russian venture, to get the drug prospects trials underway in the US. I'm hopeful we will hear something on that in the next few months. In addition, fuller EPO results from OZ are due this quarter, which should help, so I'm not yet prepared to give up on 2014.

as every, you have calmed the waters with your down-to-earth Antipodean good sense. While we serve our indefinite sentence in the purgatory of OTC, it invariably helps this increasingly impecunious old peer to remember the words of that great medieval philosopher, St Thomas Aquinas: "Greed is a sin against God, just as all mortal sins, in as much as man condemns things eternal for the sake of temporal things." Reliable - looks like the new mags will have to wait a few more months, what?

It's happened before - we dropped to 30c when someone dumped, then quickly recovered to $1. As prof says, just a function of the almost total lack of liquidity. I understand management is concerned about this issue and is working on a solution. We should see some results of that in the next month or two, I hope. Us poor souls who thought AIM was bad didn't know nuffink.

The silence from Lexington is deafening. This is, paradoxically, often the time when momentous tectonic shifts take place. Or, to borrow an old cliché, the calm before the storm.

kindly keep your Grimsby trysts to yourselves and certainly don't discuss three-wheelers here, it's vulgar in the extreme.

upon which XBIO has recently embarked: http://www.telegraph.co.uk/finance/newsbysector/pharmaceuticalsandchemicals/10965060/Shire-thought-to-be-holding-out-for-higher-offer.html

I can tell you that you missed your chance of a holiday-for-two with Biggins in Florida when the SP hit $4 briefly last week. Pay attention in future

I'd characterise the recent EPO OZ results as 'so far, so good'. What was reported last month was not sufficiently far advanced to trigger an avalanche of suitors, I don't think. We will have to wait till the next results due this quarter - perhaps they might do the trick? In any event, in four years in XEN and XBIO, I can't recall one single bad trial result, so in my opinion it's only a matter of time before a catalyst sends us into orbit. We just don't know what that catalyst will be, nor when it will happen.

I thought your BiL had sold your holding in XBIO and decamped to North Korea? NASDAQ will happen, but even Oswald the Octopus has no idea when.