Member Info for LordSnooty

I'll believe it when I see it.

Wise words, Clem. I always planned to hold at least until the so-called inflexion point, where we actually pay our way with licensing. The only problem is, that keeps getting kicked further down the road, and anyway, how much can we believe anything we are told by the Company any more? We just spent almost three years and untold millions stuck on a useless market due to some bright spark on the Board's clever fast-track idea. Now we are finally on NASDAQ and, so far at least, it looks like more of the same - no retail investor interest at all, appalling liquidity, and totally becalmed. I also think there are at least some of us who could do with a little cash out of this stock, but as we know, all of us UK holders are at least 50% down after three-plus years in the US.

The SP tanks and stays tanked, the big boys help themselves to as many shares as the Board will put on the IPO tray and we just get crushed in the middle. How naive we were to think it would be any different.

http://www.streetinsider.com/Corporate+News/Xenetic+Biosciences+(XBIO)+Announces+Closure+of+$10M+Units+Offering/12214814.html Looks like they'd prefer us to just f-off.

5teve - I just looked at my UK broker iWeb, nothing has been updated, still showing a number designation for the stock, not the ticker XBIO, and the quote has been frozen for years. Maybe it will take a few days to upload XBIO into the system and filter through? In any case, at $4.15 I'm in no hurry to do anything.

Squib

the price has been driven down to where Monday's IPO shares will enter the market. You and I were not offered any of these new shares, nor will we receive any benefit from their attached warrants. As 5teveW says, the best we can hope for now is that there is some decent newsflow and investor interest to lift us off these pathetic levels. But on past experience I am not hopeful that anything will happen any time soon - this is XBIO after all.

Don't you remember? This is going to be a supertanker, on a par with Shire. Trouble is, Scott forgot to tell us when.

Prof - you done good, bailing in the old 40s. This old peer feels like a prize chump holding all these years for this.

Agree Sundae, nothing for us at all. Glimmer of hope that over time we might get near to a valuation similar to that of our peers, but right now just disgusted.

got a clue, old boy. Sorry.

I don't know what to expect from here - our MCap at the IPO price will be a paltry $50m-ish. I'm sure you recall Scott saying three years ago that our peers were in the $250-300m range. We could test $4 again in the short term, I guess - anything's possible with this damn stock..

There doesn't appear to be a roadshow, either that or it happened without us noticing. We're uplisting to NASDAQ next Monday, don't ask me the whys and wherefores, I'm just reading today's notice.

Whoever's bright idea it was to use OTC as a fast track to NASDAQ has ended up not only wasting three years on that ridiculous market and costing the Company millions in fees, but sent us right back to the bottom of the ladder, SP-wise. We're not even on the first rung now. What a waste of five years! I think we're looking at at least another year or two on NASDAQ before turning a profit on our AIM-bought investments.

Our plans are finally coming to fruition. We will shortly be rid of the pimple on the backside that is Leeson. Life is good.

5teveW - I didn't mean to suggest that our IPO could be eight times where we are now - that would be asking far too much and leave no room for any 'uplist euphoria', which typically (though not always) accompanies a sound, well-thought-of company when it reaches NASDAQ. Looking at recent uplists, this 'boost' to the SP could range from a small negative to a doubling. I think our only guide really at the moment is, as I laid out below, that Baxter's and OPKO's stakes cost them a lot more than where we are now, even allowing for changes in shares in issue and other factors since. In addition, we've had three pieces of good news in the last month, including EPO trial results, to which the SP has barely reacted, such is the overbearing importance of finding funding and getting to NASDAQ. The NASDAQ Bio index has also been recovering so that too should work in our favour.

5teveW - I've thought about this a lot, but the problem is, the IPO is not going to be a straightforward one-share-at-one-price affair; as we can see from yesterdays S1/A, they plan to raise $9.55m nett, but the IPO 'units', as they call them, come with two different types of warrant - 'A' and 'B' - the former being reserved for existing IIs. They are offering up to 2.5m of these 'units', but I expect that figure is fairly arbitrary - enough to cover every eventuality. So we are really no nearer knowing at what price the IPO units will be pitched. I imagine the underwriters have proposed a range, conditional on how the roadshow goes. But with such a small offering, and I expect a large proportion of it going to IIs, I think they will already have a pretty firm idea of what the market will bear. None of which addresses your question. I'm sure you'll remember from the days when we were about to move from AIM to OTC (with the naive belief that transfer to NASDAQ would be a doddle), Maguire talked of our near-peers on NASDAQ having valuations in the $250-$350m range, and that without the pipeline that XBIO has. You'll probably also remember his stated wish to 'do a Shire' - i.e. get into the billion MCap range - but that will be down the road to licensing a few years yet. With around 9m common shares now in issue (see page 10 of latest S1/A) our MCap is currently around $40m, which is risible given what Baxter (as was) ($0.93) and OPKO paid for a stake in the last three years (OPKO's 6.3% stake was at the equivalent of $0.49, which after reverse split makes $16.17), but as can be seen from the pages of 'risk factors' in the prospectus, we currently have no cash and some outstanding obligations against loans for operating expenses, salaries etc. In addition, the issue of warrants will affect the MCap progressively as they are taken up by investors. All of which gets me no nearer to taking a guess at the IPO figure. I simply hope for two things: one, to get off this living-death market, and soon; and second, that the IPO 'units' are at least priced in a more realistic range compared to where we stand now, once SEC approval for uplist is received.

Yup, yet another S1/A, which probably means a few more weeks' delay...

That's been my main worry these last few months - that the lack of liquidity is what's holding us up. But Maguire did say in last week's presentation that only the capital requirement now needs to be met for us to qualify for NASDAQ - and that will surely happen once we get SEC approval, the roadshow and an IPO. So all in all, I think we need to be patient just a little longer - it's been four-and-a-half months since our application went in - not an inordinately long time in comparison with other NASDAQ aspirants historically. As for the lack of market reaction to our trial news - as we know from bitter experience, there is almost no retail market on OTC for XBIO. Why would there be, when the spread is often over ten percent, sometimes nearer twenty, and often to sell a thousand shares can take days? We all know OTC has been a disaster for XBIO - costing millions in wasted effort, time and money trying to escape its grasp. I hope that, if and when SEC approval for NASDAQ comes, we will receive a fair valuation, given our IP and our drug pipeline and when compared to our peers. The IPO underwriters and the institutional investors already invested in XBIO are an indication: OPKO took 6.3% of XBIO back in February at the equivalent of $0.49 - before the most recently reported news. One thing we can say for sure - the Company has not in the past had trouble attracting money and interest from the likes of Baxter (now Shire), OPKO and Synbio.

sexism from the Singapore **** - as usual.