Finally -- though it looked as though someone to have tried to put up a bit of a fight at 5.30 as well.
If it doesn't go higher before your next few paychecks, put every extra penny into shares. This is a very cheap biotech, given the drug profile and probable use in the coming quarters.
If I only had one position in my portfolio. I would react like this is a life or death matter. This POS stock may go up a little, but if you planning on getting rich off it. Forget it.This is like a DNDN. So take your tool and stick where the POS comes out of.
Sentiment: Strong Sell
AVNR had an EU approval for Nuedexta and sat on it for about 2 years, doing nothing. Then they were bought out by the Japanese pharma (Takeida?).
Interesting that I saw another ad for Nuedexta last night on a DISH channel. It still says Avanir Pharmaceuticals down in the lower right hand corner of the ad.
Kel..............present KERX holder and former AVNR holder
Are you nuts! Remember a DNDN. I almost forgot! Sell this POS and happy thanksgiving to all. Even the posters that are not my favorites
Sentiment: Strong Sell
Check out this example lately of SEC action against high frequency traders:
Latour Trading (“Latour”), a U.S.-based broker-dealer, Latour does not have any customers and engages only in proprietary trading. Until January 2014, Latour was wholly owned by Tower Research Capital Investments , and its managing member was Tower Research Capital LLC (“Tower Research”), a firm that engages in quantitative investment strategies through affiliates (“trading teams”) that trade on multiple domestic and foreign markets. In January 2014, Tower Research Capital Investments LLC assigned all of the issued and outstanding interests of Latour to TowerResearch. Latour uses high-frequency algorithmic trading strategies to conduct its proprietary trading in Exchange Traded Funds (“ETFs”) and equity securities. During the period from October 2010 to April 2015, Latour sent over 12.8 billion orders to U.S. exchanges, approximately 233 million orders on average per month. During this same time period, Latour sent over 1 billion ISOs to U.S. exchanges, approximately 19 million ISOs on average per month. Latour’s ISOs were much more likely to be executed than its non-ISOs. While approximately 7% of Latour’s total orders received at least a partial execution, nearly 62% of its ISOs received at least a partial execution.
Rule 610 of Reg NMS, known as the Access Rule, also has relevance for ISOs
Rule 610(d), in particular, requires national securities exchanges and associations to implement written rules that require their members to reasonably avoid displaying, and prohibit them from engaging in a pattern or practice of displaying, quotes that lock or cross protected quotations. This requirement promotes “fair and orderly markets by establishing that the first protected quotation at a price is entitled to an execution at that price instead of being locked or crossed by a quotation on the other side of the market.”
The SEC is gettin things done here with Keryx also, you watch it unfold later.
**I have long felt the short did have many opportunities to jump off Kerx and cover. I really do think they overstayed their welcome. I am beginning to wonder if Seth is setting up a liaison of "strong" hand HF's, by simply following his lead. A "strengthening" of the shareholder base.. Do we have a KBIO situation in the making? Still about 28 million shares short and not nearly enough shares out there to cover when we get a spark.
**I expected an EU partner announcement in October, what I did not know at the time was that Seth was going to become a Sugar Daddy for Kerx. So now I have shifted my timeline to early December. I"m sure we received some overtures before and after EU approval that simply were not acceptable. Sending BP back to the drawing board.I still feel SNY will step up and be the one who will make the deal, now that it appears they have committed to their renal division. (all of the sudden). Let me say this: IF we do not have a partner by the end of this year, the whole company will be sold as one. US/UK etc. Time is $ in the EU and SNY sales sliding in W. Europe
**I am still uncomfortable with our efforts in the US. I just feel we have not put our best foot forward with a high powered VP of Sales. My sense is the field feels that they are in a lame duck status,hence we are not seeing huge strides in script growth. Big turnover. There are rumbles that reps are walking,. even the few good ones. (not confirmed by a credible source) Last time I checked there were still a lot of positions yet to be filled in key markets.
**As mentioned before, the alleged cost cutting moves have to come from the corporate office and perhaps the NYC office closing. I want more details on this. Could reveal some things about the future of Kerx as a stand alone entity.
**What other asset does GM have in mind?? Shield? Another drug in trial? We know it's not going to be another office.Could be just a smoke screen.
Happy Thanksgiving All