Big Whoop! 2446 shares does not seem like a lot for insider selling.... Hell, I own more than that and I am pretty sure yahoo wouldn't care or notice of I sold.
For those curious as to why anybody would allocate a thumbs-down rating to this thread, this is from a Bloomberg News article back in February 2012 -
[ One of the most tantalizing new programs now being rolled out at the FDA is its brand new category for "breakthrough" drugs, offering a select number of companies a chance at a shortcut to the market based on early-stage data for transformational new therapies.
So when Janet Woodcock, the influential director of the FDA's Center for Drug Evaluation and Research, started outlining how the program will work, indicating that a company can move from an expanded Phase I directly to commercialization, Bloomberg reporters were paying close attention.
According to the business news wire, Woodcock says that companies which earn breakthrough status will have the ear of the agency.
"We expect many of these would come available very quickly with Phase I data," she said. ]
Sadly the article ended with the following observation -
[ Whether the FDA will allow smaller companies with less experience dealing with the FDA on the ultimate inside track, though, will be interesting to see. ]
Bedaquiline was developed by Janssen Pharmaceutica, a subsidiary of Johnson & Johnson. Hence the conditional approval on such alarming safety data, subject to a post-approval study to provide more information.
With Arikayce the FDA had access to extensive safety data from its Cystic Fibrosis development program, yet withheld conditional approval.
NTM infection is a far bigger problem than TB in the US. Drug-resistant TB, for which the FDA approved bedaquiline, only kills about 50 people a year in the US.
And unlike TB, NTM patients in the US don't have access to a single approved antibiotic.
Clearly there are individuals in key positions at the FDA who have higher priorities than unmet medical need.
An update as of Friday September 12 .....
August 11 - the Company guided via a preliminary prospectus that it intended to offer "up to $80,000,000 of shares", with underwriters having an option to purchase an additional $12,000,000 of shares within 30 days.
August 18 - the Company announced that it had issued shares to the value of $115,143,750, including the exercise of the option in full, at $11.25 per share.
From the 18th to the 20th the share price never dropped below $13.31, and was $13.50 or higher for most of the time.
Doesn't that seem a tad generous on the part of bidders targeting ten million freshly issued shares - offering new owners an immediate profit of 20%?
The Company now has sufficient cash to fund operations at the current burn rate until the second half of 2016.
Barring a problem with the marketing authorisation application, Arikayce is due to be launched in Europe in the second half of 2015.
Friday's closing price of $13.58 x 49,511,389 shares gives a present valuation of $672,364,663.
12,000 patients x $30,000 would generate annual sales of $360,000,000.
A multiple of 18.68 would deliver a valuation of $6,724,800,000.
How likely is it that physicians treating at least 12,000 of the 12,000,000 with TB Worldwide will have the funding to substitute Arikayce for one (or more) of the antibiotics responsible for the cumulative toxicity of the present regimens?
'shorts"...all that effort you put into this report ....commendable !!! However, did you ever think that there might be some insider BUYING here ? Look at the stock price. What ? you're smarter than the high profile investors ? Give me a break ! You have to do more reading on investing. You're a little behind the curve.
You must be relatively new investing.
Back in the day, before option grants became so prevalent, once in a while one would witness insider buying or selling. Fast forward to today and you don't see many market buys by insiders, but the selling, not surprisingly periodically continues. No surprise re no insider buying; why would an insider buy if they don't have to risk their own capital and just exercise options if profitable to do so and then sell the shares?
Bottom line, IMO, it would be foolish to think yesterday's selling by a insider meant anything at all with the exception the insider wanted to monetize some of his exposure to JNJ.
Cullen James, who is Director at Johnson & Johnson, sold 2,446 shares at $104.12 on Sept. 11, 2014. Following this transaction, the Director owned 1,489 shares meaning that the stake was reduced by 62.16% with the 2,446-share transaction.
The shares most recently traded at $104.06, down $0.06, or 0.06% since the insider transaction. Historical insider transactions for Johnson & Johnson go as follows:
4-Week # shares sold: 6,824
12-Week # shares sold: 6,824
24-Week # shares sold: 6,824
The average volume for Johnson & Johnson has been 6.2 million shares per day over the past 30 days. Johnson & Johnson has a market cap of $296.1 billion and is part of the health care sector and drugs industry. Shares are up 14.15% year-to-date as of the close of trading on Thursday.
Johnson & Johnson, together with its subsidiaries, is engaged in the research and development, manufacture, and sale of various products in the health care field worldwide. The company operates in three segments: Consumer, Pharmaceutical, and Medical Devices and Diagnostics. The stock currently has a dividend yield of 2.67%. The company has a P/E ratio of 19.4. Currently, there are 8 analysts who rate Johnson & Johnson a buy, no analysts rate it a sell, and 8 rate it a hold.