The above statement certainly is positive, and can be expected from any decent management. What is important above is the numerous near term catalyst the company has coming. Also of note, is that sapacitabine is being designed as a front line treatment.
Seeking Alpha Contributor Steve Rosenman remarks from his December 2012 article;
"As for AML, Cyclacel began the SEAMLESS pivotal Phase III trial for the company's sapacitabine oral capsules as a front-line treatment in early 2011. SEAMLESS is conducted under a Special Protocol Assessment, or SPA, agreement with the FDA. SNSS's drug is not under SPA, nor can it be taken as a front-line treatment."
Steve also goes on to mention something worth noting here;
"Many have speculated that the Celgene may want to mitigate legal risk by simply acquiring or partnering with Cyclacel. This scenario has merit and should not be ignored. The two are basically fighting each other over the rights to use Cyclacel patents. At the end of the day, until proven otherwise, they are valid Cyclacel patents -- potentially deserving of royalty."
Cyclacel has a patent infringement lawsuit against Celgene which will begin a Markman patent construction hearing on March 16th, 2013. While the final result from this litigation might not be known until the middle of 2014 -- the case so far looks favorable for Cyclacel.
It appears that Celgene might be better served buying Cyclacel out, avoiding litigation all together while retaining a potential billion dollar drug.
*Institutional Ownership # of Holders SharesTotal Shares Held: 26 2,214,622New Positions: 10 1,003,391Increased Positions: 12 1,009,297Decreased Positions: 6 146,532Holders With Activity: 18 1,155,829Sold Out Positions: 3 48,590
As we can see from above, institutions are buying Cyclacel, including Goldman Sachs.
**Balance SheetTotal Cash (mrq): 17.84MTotal Cash Per Share (mrq): 1.91Total Debt (mrq): 0.00Total Debt/Equity (mrq): N/ACurrent Ratio (mrq): 2.73Book Value Per Share (mrq): 1.57Cash Flow StatementOperating Cash Flow (TTM): -12.84MLevered Free Cash Flow : -7.96M
Cyclacel has over 2 years of operating cash on hand, burning about $2M a quarter, so a cash raise/dilution should not be something that is likely here in the short term.
Share StatisticsAvg Vol (3 month)3: 290,205Avg Vol (10 day): 108,867Shares Outstanding: 9.32MFloat: 7.70M% Held by Insiders: 4.45%% Held by Institutions: 16.90%Shares Short (as of Jan 31, 2013): 1.27MShort Ratio (as of Jan 31, 2013): 6.30Short % of Float (as of Jan 31, 2013): 15.70%Shares Short (prior month): 1.18M
