It was a big day in sports on Wednesday.
As a result of the "bounty-gate" scandal that has engulfed the NFL's off season, Commissioner Roger Goodell handed down the harshest fines in NFL history when he suspended New Orleans Saints head coach Sean Payton without pay for the entire 2012 season. The Commish also suspended former Saints defensive coordinator Gregg Williams indefinitely and canned General Manager Mickey Loomis for the first eight regular-season games of next season.
And he wasn't done yet.
Assistant coach Joe Vitt will also sit out the first six games of next season; and the Saints have to pay a half-million dollar fine; and the team loses their second round draft picks for the next two seasons.
Wow. How do you really feel, Rog?
Next he's going to outlaw tackling, fine any defensive lineman a month's paycheck for making contact with an opposing player, and tie puff-puffs and pom-poms to the quarterback's jersey to remind everyone that he's not allowed to get hit.
C'mon, now. When you're a fireman, you might get burned. When you're a cop, you might get shot. When you're in the military, you might go to war. When you're a mountain climber, you might fall down. When you're a NASCAR racer, you might crash. When you're a boxer, you might get punched. When you play for the New York Mets, you will pull a hammy every week and spend a month on the DL.
And when you play Football Americano, you might get hit. That's why you wear pads and helmets (while Rugby players don't).
This Goodell guy needs to play commissioner for the powder puff girls.
What a difference a day makes. Yesterday I took reports of a Tebow trade to the Jets with a grain of salt, and then loe and behold it becomes a reality, although the trade may not go through due to some contract language.
I guess I haven't been watching the wires enough, but has Fred Wilpon taken over for the Jets, too? Pay your number one guy bank money last month and then trade for another quarterback to create a controversy between the number one and another guy who had a game last season when he completed only one pass?
If the Jets are lucky, this deal doesn't go through. Tebow is not a fit for a quarterback controversy in NYC.
But if he can play left field, the Mets will take him.
Has anyone told Gingrich yet that he's on the road to nowhere?
It looks like the European Union and the United Nations are ready to get tough with the Assad regime in Syria. According to reports, they're ready to freeze the assets of dictator Bashar Al-Assad's wife, so now she can't go shopping.
Remember 'A Few Good Men' when Demi Moore "strenuously objected?"
That's what we have here, and I bet those weaponless college age kids with artillery shells sticking out of their ears are really glad that their first lady can't shop for Prada shoes any more.
Once again, the UN fails in action, but passes the test for futility.
Let's see what's up in the markets...
NovaBay Pharmaceuticals (NBY): Some late day volume led to a five percent price spike for NovaBay Pharmaceuticals (NBY). The company announced a partnership earlier in the week with Virbac Animal Health to bring its technology to the veterinary market, but it's the human applications of this company's Aganocide compounds and their ability to mimic the processes of white blood cells that has investors looking closely at NBY.
Antibiotic resistance is becoming increasingly worrisome to medical professionals, but NovaBay's technology could eventually replace the standard antibiotic treatments of today.
With multiple Phase II trials due to wrap up this year, NovaBay could have multiple Phase IIIs going next year and an approved product on the market, too. NeutroPhase is expected to be on the market this year for chronic wound care.
Given the market potential and pending catalysts, NBY could be an undervalued play, even with Wednesday's late-day volume and price interest.
Cel-Sci Corp (CVM): Cel-Sci jumped nearly thirty percent on Wednesday and showed no signs of slowing down with volume nearly five times the daily average. The company has not released any news to justify such a quick price run, but shares have looked stronger ever since the debentures were paid off as a result of settled litigation. The CVM stock has also received a boost from numerous reports from some high-profile media outlets that have outlined the improving fundamentals and potential of Multikine, Cel-Sci's flagship product.
Multikine is currently in a global Phase III trial that is expected to be the largest ever conducted for head and neck cancer, with a planned enrollment of nearly 900 subjects.
Cel-Sci experienced a run to over two dollars a couple of years ago on hype surrounding its second technology, LEAPS, and if the early foundations of this run hold, then CVM may be able to approach those previous highs, whether speculative or not.
Long term, the success or failure of Cel-Sci is based on how successful Multikine proves to be in the Phase III trial. The higher the stock goes, the greater the risk, but this sure looks pretty every time it dips to the thirties.
Wednesday's highs make CVM a double since the opening days of 2012.
Galena Biopharma (GALE): Galena Biopharma (GALE) is another that has turned into a double, although it took this stock just one week do it.
GALE has been on absolute fire since receiving notice from the US Patent and Trademark Office (USPTO) that it had received a key patent for its breast cancer treatment, NeuVax. The patent, which protects the technology until 2028, was big enough in the eyes of investors to warrant a volume surge of near-epic proportions for this stock, with more shares trading hands during the past two trading days than the entire month of March before that point.
Galena made the Nasdaq's highest percentage gainers list on Wednesday and many believe that another day or two of rallying is in store.
While the patent certainly secures the long term potential of this company should NeuVax prove successful, the only word of caution would be that runs such as this one in the biotech sector rarely hold their highs, and it's always a good idea, in my opinion, to flip a few trading shares in order to secure some profits - and possibly leave the remainder of the investment as 'house money.'
Congrats longs of GALE, nice trip to Cabo in order?
FuelCell Energy (FCEL): Shares of FuelCell Energy (FCEL) had been on the move this month based on solid news from the partnership front, but slipped during after hours trading on Wednesday when a proposed stock offering was announced.
The terms of the deal were not immediately available.
Shares fell to as low as $1.44 as a result of the news, and investors should expect similar action on Thursday, when it's expected that the pricing of the offering will be announced.
Prolor Biotech (PBTH): Shares of Israel-based Prolor Biotech (PBTH) jumped three percent on Wednesday.
Earlier this week the company announced that the initiation of a Phase II trial testing hGH-CTP as a treatment for hormone deficient children. The approval to start this trial should not go unnoticed by investors, as the requirements to gain authorization to conduct pediatric trials is often much more stringent than those for adult trials, as outlined earlier this week at VFC's Stock House.
The fact that regulators approved this trial is a show of confidence in the technology thus far in trials, as data from the successful Phase II adult trial was included in the approval package to conduct the pediatric trial.
Prolor possesses world wide rights to the naturally-occurring Carboxyl Terminal Peptide (CTP), which can be attached to already-existing therapeutic proteins in order to slow the process by which the protein is removed from the human body, thereby creating an extended life span for an already-existing treatment and significantly reducing the amount of injections or applications a patient would need to endure during the course of treatment.
Should this and later trials prove as successful as the earlier ones, then Prolor stands to enter into a world wide multi-billion dollar market.
Volume was not above the norm on Wednesday, but shares are again trading to the north side of six bucks.
Also noteworthy:
Human Genome Sciences (HGSI) slipped by five percent...will another GlaxoSmithKline (GSK) buyout rumor save it from falling further?....Implant Sciences (IMSC) traded on five times the daily average after receiving a key patent relating to its explosives and narcotics detecting technology...Advanced Cell Technology (ACTC) has slipped since announcing the intention to conduct a reverse split...Oncothyreon (ONTY) quietly slipping towards four...Pharmacyclics (PCYC) still defying odds and rising higher...Siga (SIGA) maybe entering buy territory again...and volume picking up for Cytosorbents (CTSO), but not price.
Disclosure: Long NBY, CVM, HGSI, ACTC, CTSO, IMSC.
