Hambrecht & Quist held its annual conference on Israeli stocks at the Tel Aviv Hilton this week. I'm told about 1,000 people attended, mostly investors and money managers. 40 publicly-traded companies made presentations, including PARS on Wednesday. Dr. Aviv represented the company. I believe he and the other top Pharmos people will all be at the annual meeting next week.
Wouldn't be surprised if PARS is on the watch list of several Israeli mutual fund companies. Interestingly, Wednesday and Friday in the US, PARS closed at the high for the day, the first time in recent memory that the stock did that. Even today someone came in at the very end of the day with a 5,000 share block purchase.
We should all not get our hopes too high that info on HU-211 will be disseminated at the annual meeting next week. I have the sense that the company will run very close to the October neurosurgeon conference for finishing the statistical review and putting a "spin" on the results.
Nevertheless, something is "happening" in the stock. Block selling still occurs at the beginning of the day (today, the first 40,000 or so shares traded in the first 15 minutes the market was open), but the rest of the day the general trend is up. My read of the tape is that we're headed back to $2 (barring a cataclysm out of the White House) before the annual meeting.
Have been thinking a lot about the recent S-3 registration. There's some logic to the possibility that these shares will not be issued any time soon, that the point of doing the registration was to make sure PARS had bargaining power with a potential partner for HU-211. Knowing we've got the means in place to cover cash flow for those middle months next year before Alrex and Lotemax are able to do so certainly makes us less liable to take a small cut for ourselves on what could be a blockbuster drug. If the results are as good as we hope, some big pharmaceutical will certainly want us on their dance card.
--Ariella |
