Frost investments

FUNNY ARTICLE

The Buffett of Biotech's Portfolio
This story appears in the January 24, 2017 issue of Forbes.


Dr. Phillip Frost: Visionary health care entrepreneur with a value investor's mind.

Through Opko Health, billionaire Dr. Phillip Frost (see main story) is building a health-care-focused Berkshire Hathaway, but like other great investors, he finds values in a myriad of industries. Below are 20 Frost-owned companies, nearly all publically traded, but most are highly risky micro-caps.

OPKO HEALTH (OPK) Frost owns 34% of therapeutics and diagnostics company with $1.2 billion in sales. SINKING

TEVA PHARMACEUTICALS INDUSTRIES (TEVA) A $20 billion (revenue) Israel-based big pharma, specializing in generics. Frost owns 1.5% of the stock. GONE

VECTOR GROUP (VGR) Founded by fellow Philadelphian Bennett LeBow; owns tobacco company Liggett Group and commercial realtor Douglas Elliman Realty. Frost is largest shareholder, with 15%.

LADENBURG THALMANN (LTS) Regional investment bank and financial advisory; 4,000 advisors and $132 billion in assets. Frost owns 36.5% and Vector Group owns 8.23%.

CASTLE BRANDS (ROX) Maker of premium liquor, including Jefferson's whiskey and Goslings rum. Frost owns 33.5% and Vector 8%.

COCONUT GROVE BANKSHARES (Private) Miami-Dade's oldest bank; Frost owns 24%.

COGINT (COGT) Formerly Tiger Media; a cloud-based data and analytics company focused on marketing and risk management. Frost owns 29%.

BIOCARDIA (Private, Owned by Opko) Formed by Frost's Sorbonne roommate, Dr. Simon Stertzer. A clinical-stage company using stem cells to repair cardiac muscle after a heart attack. Frost owns 32.7%.

DRONE AVIATION (DRNE) Florida-based maker of drones for law enforcement and military. Frost owns 14%.

ARNO THERAPEUTICS (ARNI) Developing antiprogestins for breast, endometrial and prostate cancers. Opko owns 9%. GONE

ZEBRA BIOLOGICS (Private, Owned by Opko) Attempting to make generic versions of antibody drugs--like the bestselling rheumatoid arthritis drug Humira--that could be better than the original. Opko owns 29%.

OAO PHARMSYNTHEZ (Private, Owned by Opko) Russian developer and marketer of new drugs in Eastern Europe. Opko owns a 17% equity interest.

RXI PHARMACEUTICALS (RXII) Ladenburg took it public in December. Developing an RNA interface to prevent skin scars. Opko has an 19% equity interest.

COCRYSTAL PHARMA (COCP) New antivirals (hepatitis C, flu, Norovirus); Frost and Opko own 23%.

SEVION THERAPEUTICS (SVON) Developing antibodies against difficult targets; treating cancer and immunological diseases. Frost and Opko own 20%.

NEOVASC (NVCN) Canadian maker of specialized cardiology devices. Frost owns 22%.

CHROMADEX (CDXC) Maker of ingredients for nutritional supplements. Frost owns 14.6%.

VBI VACCINES (VBIV) Developing a technology platform to design vaccines for hepatitis B, Zika and brain tumors. Opko has a 25% equity interest.

MABVAX THERAPEUTICS (MBVX) Clinical-stage cancer immunotherapy. Frost and Opko have an estimated 5% interest.

MUSCLEPHARM (MSLP) Nutritional supplements. Frost owns less than 5%.

 

Do you think Frost would give us a discount on a drone from DRONE AVIATION?

 

Maybe the other investments will work out.


OPKO Adds to Growing Technology Portfolio Through Strategic Investment in Biotechnology Company Engaged in the Development of a New Generation of Antibodies

MIAMI--(BUSINESS WIRE)-- OPKO Health, Inc. (NYSE: OPK) has agreed to make an investment in Zebra Biologics, Inc. ("Zebra"), a privately held biotechnology company focused on the discovery and development of biosuperior antibody therapeutics and complex drug targets. Zebra's patented platform is an advanced version of a core technology that underlies the discovery and commercial success of AbbVie Inc.'s Humira™, developed by Richard Lerner, M.D., at The Scripps Research Institute. The technology allows for the selection of antibodies for function rather than through simple binding. Zebra has already developed an early pre-clinical pipeline of candidate antibodies with significant commercial potential in regulating diabetes and obesity, cancer, and treatment of neurological disease.

In addition to Phillip Frost, M.D., OPKO's Chairman and Chief Executive Officer, Zebra's directors and founders also include Dr. Lerner; Dr. Ronald M. Lindsay, a director and Executive Vice President for Strategic Planning of Sequenom, Inc. (NASDAQ: SQNM), a company providing innovative diagnostic testing and genetic analysis solutions; Mr. Gao Feng, chairman and president of Beijing based Hongye International Investment Group, which operates in the energy, natural resources, finance and bio-pharmaceuticals industries; and Dr. Paul Greengard, Vincent Astor Professor at Rockefeller University and recipient of a 2000 Nobel Prize for his work concerning signal transduction in the nervous system.

Zebra Biologics Inc. to Collaborate with AbbVie to Discover New Antibody Therapeutics
Jan 9 17
Zebra Biologics Inc. announced that the company has entered into a collaboration with AbbVie to discover agonist antibody therapeutics for inflammatory diseases. Zebra will use its novel and patented function-based antibody discovery platform to generate antibodies that activate biological pathways associated with targets designated by AbbVie. Zebra and AbbVie will collaborate closely on the identification and pre-clinical evaluation of emerging candidates. Under the terms of the agreement, Zebra will lead the discovery of candidate agonist antibodies for designated targets and will collaborate with AbbVie in pre-clinical validation of select clinical candidates. Upon advancement of clinical candidates, AbbVie would be responsible for clinical development, manufacturing, regulatory approval and world-wide commercialization.

 

RXi Pharmaceuticals Regains Compliance with NASDAQ Listing Requirements

Jan 24, 2018
MARLBOROUGH, Mass., Jan. 24, 2018 /PRNewswire/ -- RXi Pharmaceuticals Corporation (NASDAQ: RXII), a biotechnology company developing RNAi-based immunotherapies to treat cancer, today announced that it received a notice from the NASDAQ Stock Market that the closing bid price of the Company's common stock has been at $1.00 per share or greater for ten consecutive days. Accordingly, the Company has regained compliance with Listing Rule 5550(a)(2) and this matter is now closed.

RXi Pharmaceuticals Announces Business Strategy to Focus on Immuno-Oncology Programs to Accelerate Growth

Jan 16, 2018
-- Company to capitalize on proprietary self-delivering RNAi platform (sd-rxRNA®) that has now been proven to be safe and effective in clinical trials
-- Partner/Out-license robust dermatology and ophthalmology franchises to strengthen the Company's balance sheet with non-dilutive funding, as such supporting accelerated growth in immuno-oncology focus area
-- Prioritize financial and R&D resources to advance the development of immuno-oncology therapeutics for high unmet medical needs with multi-billion dollar market potential
MARLBOROUGH, Mass., Jan. 16, 2018 /PRNewswire/ -- RXi Pharmaceuticals Corporation (NASDAQ: RXII) a clinical-stage company developing a new class of RNAi-based therapeutics outlined its 2018 business strategy during a webcast presentation at the Biotech Showcase conference which brought together over 3,500 life science decision makers and investors from over 50 countries to collaborate and discuss industry trends.


Another dud?

 

Cocrystal Pharma Announces 1-for-30 Reverse Stock Split
January 23, 2018

– Reverse stock split positions Company to uplist to the NASDAQ Capital Market in Q1 2018 –

– Company expects to commence Phase 2a study in Q1 2018 for lead program, CC-31244, for the treatment of hepatitis C infection –

– Company positioned to achieve clinical and regulatory milestones over the course of 2018 –

ATLANTA, GA and BOTHELL, WA, Jan. 23, 2018 (GLOBE NEWSWIRE) -- Cocrystal Pharma, Inc. (OTCQB: COCP), (“Cocrystal” or the “Company”), a biotechnology company focused on the discovery and development of novel antiviral therapeutics for the treatment of serious and/or chronic viral diseases, announced today that the Board approved a 1-for-30 reverse stock split, to be effective with the opening of trading on the OTCQB Market on Wednesday, January 24, 2018 on a split-adjusted basis under the current trading symbol "COCP." The reverse stock split is intended, among other things, to increase the per share trading price of the Company's common stock to enable the Company to satisfy the minimum bid price requirement for initial listing on the Nasdaq Capital Market.

Board of Directors
Raymond F. Schinazi
Chairman

Raymond F. Schinazi, Ph.D. is the Frances Winship Walters Professor of Pediatrics, Director, Laboratory of Biochemical Pharmacology and Director, HIV Cure Scientific Working Group at Emory University. Dr. Schinazi's Laboratory of Biochemical Pharmacology at Emory develops approaches to treat infections caused by human immunodeficiency viruses, herpesviruses, HBV, HCV, Zika, West Nile, Chikungunya and Dengue virus. These treatments include antiviral agents as well as synthetic, biochemical, pharmacological, and molecular genetic approaches, including molecular modeling and gene therapy. Dr. Schinazi's company, RFS Pharma LLC., merged with Cocrystal Discovery, Inc. in 2014 to form Cocrystal Pharma, Inc. Dr. Schinazi has retired from the Atlanta Department of Veterans Affairs after 35 years of service serving most recently as Senior Research Career Scientist. In addition, Dr. Schinazi currently serves as a Governing Trustee for the Foundation for AIDS Research (amfAR), Director of Brace Pharmaceuticals, Inc., The International Centre for Missing and Exploited Children (ICMEC), and the Global Virus Network (GVN). He is also currently serving as a non-executive Director of Gliknik Inc. and reViral Ltd.

Gary Wilcox
Vice Chairman and Interim Chief Executive Officer

Gary Wilcox has over 35 years of experience in biotech companies including 14 years at Icos Corporation where he played a key role in the development of Cialis as the Executive Vice President of Operations and a member of the board of directors. Prior to that, he served as Vice Chairman, Executive Vice President and a Director of Xoma Corporation. Prior to Xoma, Dr. Wilcox co-founded Ingene Inc. serving as its Chairman, President and CEO prior to the merger of Ingene into Xoma. Dr. Wilcox was a Professor of Microbiology and a member of the Molecular Biology Institute at UCLA for 10 years. He has served on 15 boards of directors including NASDAQ, New York and London stock exchange companies, as well as private technology companies.

David S. Block
Director

David S. Block has served since 2007 as President and Chief Executive Officer of Gliknik Inc., a biopharmaceutical company which he founded to create new therapies for people living with cancer and immune disorders. From 1990 through its successful sale in 2002, Dr. Block held a number of commercial positions at DuPont Merck and DuPont Pharmaceuticals, ultimately as EVP of International Operations. He was subsequently COO of Celera Genomics and CEO of venture-funded Ruxton Pharmaceuticals prior to founding Gliknik. Dr. Block has been an active HIV physician at Johns Hopkins since 1992.

Phillip Frost
Director

Phillip Frost is the Chairman and CEO of Opko Health, Inc. (NYSE: OPK). Dr. Frost is the former Chairman of the Board of Teva Pharmaceuticals (NYSE: TEVA). In January 2006 Teva acquired IVAX Corporation. Dr. Frost had served as Chairman and CEO of IVAX Corporation since 1987. He has served on the Board of Regents of the Smithsonian Institution, on the Board of Trustees of the University of Miami, as a Trustee of each of the Scripps Research Institutes, and is a director of numerous other organizations.

Jane Hsiao
Director

Jane Hsiao is Vice Chairman and Chief Technical Officer of Opko Health, Inc. She served as the Vice Chairman-Technical Affairs of IVAX from 1995 to January 2006, when Teva acquired IVAX. Dr. Hsiao served as IVAX's chief technical officer from 1996, and as chairman, CEO, and president of IVAX Animal Health, IVAX's veterinary products subsidiary, from 1998. She is a director of Opko Health, Inc. and numerous other organizations.

Steve Rubin
Director

Steve Rubin is Executive Vice President-Administration and a director of OPKO Health, Inc. Previously, he was Senior Vice President and General Counsel of IVAX. Prior to IVAX, Mr. Rubin was Senior Vice President and General Counsel of Telergy Inc. Mr. Rubin holds a B.A. from Tulane University and a J.D. degree from University of Florida.


Another failure.

 

Sevion Therapeutics Announces 1-for-20 Reverse Stock Split
December 19, 2017 09:00 AM Eastern Standard Time


SAN DIEGO--(BUSINESS WIRE)--Sevion Therapeutics, Inc. (OTCQB: SVON) (“Sevion”) today announced that the Board approved a 1-for-20 reverse stock split, to be effective 4:00 p.m. on Tuesday, December 19, 2017. The Company’s common stock will open for trading on the OTCQB Market on Wednesday, December 20, 2017 on a split-adjusted basis under the current trading symbol "SVON." The reverse stock split was approved by Sevion’s stockholders on December 7, 2017, and is intended, among other things, to increase the per share trading price of the Company's common stock to enable the Company to satisfy the minimum bid price requirement for initial listing on the NASDAQ Capital Market.

Another dud diluted then sold to Eloxx Pharmaceuticals.

 

Neovasc: When Management Is Fraudulent, You Are Toast
Nov.14.17 | About: Neovasc Inc. (NVCN)

Summary

Boston Scientific is non-existent.

Good things don't come from fraudulent management.

With at least 100 deals, some of which were toxic, I have never seen anything close to this level of toxicity.

A billion-dollar-plus deal is worth about $2.75 to shareholders, and soon to be only $1.60.

I would like to remind everyone that I wrote two articles see here and here prior to this one regarding Neovasc (NASDAQ:NVCN). Many thought I should hide under a rock, seeing that I called Neovasc worthless just hours before Boston Scientific Corp. (NYSE:BSX) invested in them. As it turns out, I have been correct in everything I've written so far. Even though I still believe that both the Tiara and Reducer work, that's worthless to the common shareholder.

When a company's management is found guilty of fraud, good things don't come from it. I tried explaining to everyone that Boston Scientific only wanted to purchase the tissue business from Neovasc. They needed to in order to protect their own valve studies (all of these things are more thoroughly explained in my previous articles, linked to above). After being brilliantly forced into also buying some shares of Neovasc stock, the public took this as a sign that Boston Scientific actually wanted to invest in the company. I hope that everyone now sees that Boston Scientific did not invest in this last round of financing. This is a company that paid $75 million for a tissue business that was worth about $3 million.

Now there is a $65 million financing in which they are taking no part; this proves my earlier point. This would also mean that they aren't looking to buy it out. From what I can tell, Dr. Frost, who I personally know, didn't touch this deal either. I also noticed that Leerink did not do the banking deal. I can only imagine that Leerink's internal affairs asked them to stop dealing with Neovasc once the appellate court agreed that management was guilty of fraud, in addition to the fact that Leerink simply doesn't do deals that are this horrifying. Canaccord Genuity Inc. acted alone on this banking deal.

https://seekingalpha.com/article/4124905-neovasc-management-fraudulent-toast

Neovasc Receives NASDAQ Notification Regarding Minimum Bid Requirements
Jan 2, 2018

VANCOUVER, Jan. 2, 2018 /CNW/ - Neovasc Inc. ("Neovasc" or the "Company") (NASDAQ, TSX:NVCN) announced today that it has received written notification (the "Notification Letter") from The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it is not in compliance with the minimum bid price requirement set forth in Nasdaq Rules for continued listing on the Nasdaq Capital Market. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of US $1.00 per share, and Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the closing bid price of the Company's common stock for the 30 consecutive business days from November 14, 2017, the Company no longer meets the minimum bid price requirement.

 

MabVax Receives Notice of SEC Investigation and Examination of Certain Registration Statements

January 30, 2018
SAN DIEGO, Jan. 30, 2018 /PRNewswire/ -- MabVax Therapeutics Holdings, Inc. (NASDAQ: MBVX) ("MabVax" or the "Company"), a clinical-stage biotechnology company focused on the development of antibody-based products to address unmet medical needs in the treatment of cancer, today announced that it received notice that the Securities and Exchange Commission ("SEC") was conducting an investigation and examination pursuant to Section 8(e) of the Securities Act of 1933, as amended, relating to certain of the Company's registration statements (and amendments thereto). The Company intends to cooperate fully with the SEC's examination.

MabVax Therapeutics Regains Compliance with Nasdaq's Minimum Stockholders' Equity Listing Requirements
Download as PDF
November 16, 2017
SAN DIEGO, Nov. 16, 2017 /PRNewswire/ -- MabVax Therapeutics Holdings, Inc. (NASDAQ: MBVX), a clinical-stage oncology drug development company focused on the development of antibody-based products to address unmet medical needs in the treatment of cancer, today announced that it received a letter from the Listing Qualifications Department of the NASDAQ Capital Market notifying the Company that it has regained compliance with the Nasdaq Listing Rule (the "Rule") requiring companies to maintain a minimum of $2,500,000 in stockholders' equity for continued listing as of September 30, 2017. The Company regained compliance with the stockholders' equity requirement as a result of the completion of successful financings totaling $4.75 million during the third quarter of 2017.

Another dud - stock at 70cent from $3.00 a year ago.

 

Includes $39.5 Million of Endorsement and Sponsorship Agreements and $6.0 Million in Headcount Costs
DENVER, May 26, 2016 /PRNewswire/ -- MusclePharm Corporation (OTCQB: MSLP) ("MusclePharm" or the "Company"), a scientifically-driven, performance lifestyle sports nutrition company, announced a reduction of more than $45 million in future commitments to date as part the Company's ongoing restructuring program.

The Company has exited a number of sponsorship and endorsement agreements resulting in an overall reduction of approximately $39.5 million in future contractual commitments and an additional $6 million of annualized headcount reduction. In the most recent reduction, the Company entered into an amicable Settlement Agreement with ETW Corp. which places MusclePharm in a stronger financial position going forward.

Another dud.

 

This is the person you are entrusting your future income with and his has had a run of bad luck.

 

Isn't BRL going through an SEC investigation?

 

No. If you are so unhappy leave already. If you have already left, stop this slander. This is, if you have any respect for the people who remain who are your friends.

 

What the fuck are you talking about? The entire investment community knows what is happening at Opko you dumb asshole. You all should be ashamed of yourself with your pathetic performance, you call yourselves salesmen and women, ha what a crock of simmering shit.

 

What happened? Did you finally get kicked off of Yahoo Finance and Stocktwits? Do you want your mommy? Maybe a warm glass of milk? You probably remember to sell short every time you take a leak. What a troll!

 

Trollin, trollin, trollin, keep the messages of failure rollin, Rawhide! Kiddy up, move em in, move em out , move em in, move em out, MOVE THEM OUT, RAWHIDE!...............RAWHIDE! Dr Frost theme song.

Soon the Back Yard Boys will catch up to you and the kids in the orphanage will have to move to another location.

 

LOL

 

Love the Blues Brothers comparison but the movie had a happy ending unlike what is happening at Opko. I can add to your comparison, exAmgen failures got the band back together again but have failed all of us while the big fat sissy sweats and bumbles his words when on stage in front of sales ops. Really looking forward to Dallas, right? Well what do you want for nothing? Rubber Bisket!

 

Could a Reverse Stock split happen here?

 

Another company is biting the dust.