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Author Topic: OK GUYS. THIS ONE IS CONFUSING ME (VITX)
Day Trader
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IT DOESNT LOOK TOO BAD.

WHAT IS YOUR OPINION?


STOCK DROP FROM 2.50 TO .75 JUST RECENTLY.
WHATS GOING ON? I READ THE NEWS BUT STILL DONT UNDERSTAND WHAT THEY ARE TALKING ABOUT.
ANYONE KNOW ANYTHING ABOUT IT? PLEASE SHARE.

THIS ONE IS CONFUSING ME.

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Mike


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metal1
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i guess you didn't read the whole story on this one. the fhase III trials where halted which of course is no good but at the end they mention they only have enough cash to operate through mid december. so if they don't find new capital they are out of business.
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wingnut
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Here is my take...the stock is way, way oversold. Friday’s trading left a hammer reversal signal and today there was confirmation of this signal as it closed higher than Friday’s high. It should pull back up to $1 minimum. Watch when it nears for increased volume as it could possibly move up into the gap. But then again it could not.

Wingnut


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Chicoman
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The news on the phase III trials and the current financial position of this company tells me that barring a miracle this stock is worthless. Bottom line is there is far better stocks out there to pick from that this one.
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Day Trader
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quote:
Originally posted by metal1:
i guess you didn't read the whole story on this one. the fhase III trials where halted which of course is no good but at the end they mention they only have enough cash to operate through mid december. so if they don't find new capital they are out of business.

THANKS METAL1---

YES, I DIDN'T READ THE WHOLE STORY.
UNBELIEVABLE! RUNNING OUT OF CASH?
I SEE THEY STILL HAVE 10 MILLION CASH RESERVE. WHY RUN OUT SO FAST?

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Mike

[This message has been edited by Day Trader (edited November 25, 2003).]


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Day Trader
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quote:
Originally posted by wingnut:
Here is my take...the stock is way, way oversold. Friday’s trading left a hammer reversal signal and today there was confirmation of this signal as it closed higher than Friday’s high. It should pull back up to $1 minimum. Watch when it nears for increased volume as it could possibly move up into the gap. But then again it could not.

Wingnut



RIGHT ON WINGNUT..
UP 1.02 TODAY.

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Mike


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Day Trader
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WILL CONTINUE TO CLIMB.

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Mike


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tagthatstock
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posted January 01, 2004 10:23
--------------------------------------------------------------------------------
happy new year!
fd-yes I own most
VITX-MADCOW-
V.I. Technologies Inc. is a developer of biotechnology products designed to improve the safety of the world's blood supply. The Company has designed its proprietary INACTINE Pathogen Reduction System for red cells to inactivate a range of viruses, bacteria, parasites and lymphocytes from red blood cells, while maintaining the therapeutic properties of the red blood cells. The INACTINE system has also demonstrated in non-clinical trials the ability to remove prions that may cause Mad Cow Disease in cows and the human form of the disease, variant Creutzfeldt-Jakob Disease (vCJD). The technology works by binding to the RNA or DNA of the pathogen. Once bound, the compound forms an irreversible bond to the pathogenic nucleic acid, preventing replication and thereby killing the pathogens.
Share Statistics
Average Volume (3 month): 1,897,090
Average Volume (10 day): 4,296,000
Shares Outstanding: 40.91M
Float: 10.70M
% Held by Insiders: 73.84%
% Held by Institutions: 14.32%
Shares Short (as of 8-Dec-03): 1.27M
Daily Volume (as of 8-Dec-03): N/A
Short Ratio (as of 8-Dec-03): 0.296
Short % of Float (as of 8-Dec-03): 11.87%
Shares Short (prior month): 39.00K
WATERTOWN, Mass., Dec. 16 /PRNewswire-FirstCall/ -- V.I. Technologies, Inc. (Nasdaq: VITX - News; "Vitex" or "the Company"), a biotechnology company dedicated to developing products that improve the safety of the blood supply by pathogen reduction, today reported that funding was completed on the private placement of equity securities which the Company had previously announced on December 5, 2003. Several new investors were added to the original group bringing the total amount raised to $4 million from the original $3.4 million announced on December 5. Vitex has entered into agreements to sell approximately 4,446,665 shares of its common stock to institutional investors at a negotiated price of $0.90 per share for gross proceeds to the Company of approximately $4.0 million. The investors also received a five (5)-month option to purchase approximately 1,111,658 additional shares at $0.90 per share and four (4)-year warrants to purchase approximately 1,778,658 shares, exercisable for cash only, at a purchase price of $1.32 per share. SG Cowen Securities Corporation acted as the Company's exclusive placement agent for this transaction.

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Jeremy
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Bought this one last wednesday when it broke the 50-day SMA, I had thought this would signal a quick run. Unfortunately I was wrong. But the past couple months or so it has been higher lows followed now by a period of consolidation.

I have a feeling in the next day or two this one will break the 50-day MA and head on up a good 25-50% in the coming weeks. RSI, MACD, OBV, etc are all trending up, the stock has been oversold and trying to recover..

I still think it's a good play, although I got in a few pennies too soon


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CobraJetG7
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What would be a good entry point here? Does anyone seeing it go below 1.20 today?
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ththf
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quote:
Originally posted by Chicoman:
The news on the phase III trials and the current financial position of this company tells me that barring a miracle this stock is worthless. Bottom line is there is far better stocks out there to pick from that this one.

100% agree


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Chicoman
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quote:
Originally posted by ththf:
100% agree

Your replying to my post from sometime in December. Do some DD since that post this company has cut it's debt and raised $10MM in capital in recent weeks. I think their INACTINE Phase 3 trials are about to resume now since they financially have the $$$ to resume the trials which should end in Sept.2004. If the results continue like they have been the INACTINE should go up for FDA approval before years end.

No firm dumps $10MM into a company unless there is some hope for their bread and butter product INACTINE to resume Phase 3 trials and I would expect some type of announcment soon on that.



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tagthatstock
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sold most-not all,, they filed 4.3mil on 1/12 to sell,, I think the mms are baiting buyers


quote:
Originally posted by tagthatstock:
posted January 01, 2004 10:23


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MN Trader
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they took back 4.4 M shares along with cash to settle a recievable. Would they take the stock back if wasn't worth getting? The news was on 1/13 @ 5:53 am so it was probably the 4M they put up to sell - to get their cash which really was a recievable. ?????????
I bought some today so you can expect it to go down soon - lol

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Day Trader
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quote:
Originally posted by MN Trader:
they took back 4.4 M shares along with cash to settle a recievable. Would they take the stock back if wasn't worth getting? The news was on 1/13 @ 5:53 am so it was probably the 4M they put up to sell - to get their cash which really was a recievable. ?????????
I bought some today so you can expect it to go down soon - lol


DON'T WORRY. IT WILL FLY.
AT LEAST $2.30.
PATIENT.

------------------
Mike

[This message has been edited by Day Trader (edited January 21, 2004).]


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CobraJetG7
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I went in at 1.25..pulled the trigger a bit early. I guess we'll see what happens. Hopefully some word on resuming trials soon.

[This message has been edited by CobraJetG7 (edited January 21, 2004).]


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Day Trader
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GOT IN AT 1.24.

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Mike


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Chicoman
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I jumped outta this stock this morning @ $1.26 for a nice 10% profit. I think the longer this stock goes without a PR that phase 3 trials are going to resume the lower it will go....could test the $1.05 - $1.15 range...which will be time to possibly jump in again.

G'luck


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Day Trader
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quote:
Originally posted by Chicoman:
I jumped outta this stock this morning @ $1.26 for a nice 10% profit. I think the longer this stock goes without a PR that phase 3 trials are going to resume the lower it will go....could test the $1.05 - $1.15 range...which will be time to possibly jump in again.

G'luck



OH REALLY? YOU JUMPED OUT ALREADY?
GO FOR 40-OR MORE% GAIN.
10% IS NOTHING. LOL
TAKE CARE.
I AM LONG AND WAITING FOR 2 DOLLARS OR MORE.
I BELIEVE IT WILL BE THERE.

------------------
Mike


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ththf
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watch out for 50 EMA surport. You can hold for a while. Direction is hard to say. It may go down or go up.

Up: 1.75 is the roof
Down: IF 50 EMA broke. Sell immediately.


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CobraJetG7
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Watertown, MA (January 26, 2004) - V.I. Technologies, Inc. (Nasdaq: VITX) (“Vitex” or “the Company”), a biotechnology company dedicated to developing products that improve the safety of the blood supply by pathogen reduction, today filed with the Securities and Exchange Commission (the “SEC”) a definitive proxy statement in connection with a special meeting of stockholders scheduled for February 9, 2004 to approve a private placement of its common stock of up to $10 million. An affirmative vote of Vitex shareholders will authorize the Company to issue to certain investors up to 11,111,111 shares of common stock at a purchase price of $0.90 per share, options to purchase up to an additional 2,777,778 shares of common stock, and warrants to purchase up to an additional 4,994,444 shares of common stock. This special meeting is in connection with the Company’s announcement on January 14, 2004 that it had entered private placement agreements to raise gross proceeds of approximately $6.6 million, subject to the approval of its stockholders. In addition to the investors who have committed to the $6.6 million, Vitex is seeking shareholder approval to add other qualified investors to the financing up to an additional $3.4 million. The Company’s board of directors has approved the transaction.

Vitex expects to use the net proceeds from this transaction to fund the ongoing clinical development of the INACTINE™ Pathogen Reduction System for red blood cells and for general working capital purposes.

The offering was made only to accredited investors, as such term is defined in accordance with the Securities Act of 1933, or any state securities laws. The securities may not be offered or sold in the United States absent registration or exemption from the Securities Act of 1933 and any applicable state securities laws. However, the Company has agreed to file a registration statement for the resale of the shares of common stock and the shares of common stock underlying the options and warrants within thirty (30) days following the closing. This news release is neither an offer to sell nor a solicitation of an offer to buy shares of the Company’s common stock or warrants to purchase common stock.


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jkandas
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if i read it correctly this news Vitx would fly as they would resume the Inactine trial . Am i right ?
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CobraJetG7
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Not yet...I'd expect more small gain. They are holding a conference so that certain shareholders can approve a transaction to raise money for the project. It's another demonstration that the company is making money to resume trials.

Any other opinions?

[This message has been edited by CobraJetG7 (edited January 27, 2004).]


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MN Trader
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about 600,000 shares just traded and pushed it up to 1.39 - Anybody have any news?

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CobraJetG7
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Nothing..I jumped out at 1.37....hopefully not premature, but I was at full position. I'm thinking it will top out then widdle back down at which point I might get back in.
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MN Trader
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I'm still in at 1.29 - Thinking there must be something coming to make it jump like it did. Someone knows something, they always do.
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CobraJetG7
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heh yea...I attributed the rise to the news from yesterday about their conference on the 9th. IF that goes over they will have another several million to put towards trials.
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Chicoman
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Gah someone just kick me in the NUTS!!! I sold this 2 days ago for a measly 10% profit....ARGH!!!!
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buzz357
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SOLD 1.71
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MN Trader
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been gone all morning - still in - with the volume it could hold and have a little spike in the am.
Call me stupid but I bought another 1000 at the dip 1.64

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MN Trader
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the FIB Retracement of 61.8% is 1.82 which also is a gap that should be filled. I'm looking at 1.82 as a time to get out or at least have a very tight stop set.
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MN Trader
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IMO - this may go up early tom. and then down with profit taking. I plan to watch close and get out as best I can.
That Fib. Ret. at 1.81 could be a key, if it breaks - who knows $2+++ could happen.
ANYONE have any ideas?

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MN Trader
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still holding - missed the last high at 1.78 and now it's making a nice move back up - should make it back to the 1.78 - 1.82 or more.
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