$30-40 million dollar paper loss for Orbimed, Oppenheimer, Fidelity etc...
Look. The post marketing data was troubling. But, in perspective, there are several explanations as to why such events took place.
The interaction between the diluent and the dialysate may have resulted in the untoward event.
Diluent change may be sufficient to reduce the events.
Pretreatment may show reduction of what was likely "anaphylactoid event'.
0.05% adverse event in this population is nothing to scream about.
If management even suggests a hint that they may have a plausible explanation, 300-500% upside exists.
All of the larger institutional share holders dumped. Hedge funds got slaughtered without any chance of avoiding disaster. Their positions likely got closed without much of a notice.
Institutional investors desparately want to get their money back. They will let things settle, asking their MM to collect as many shares as possible. The MM's are in the driver seat. They may take this down further, but it all depends on how greedy they are.
Either way, AFFY has a good chance to recover from here. 85% drop on a "voluntary recall" is a slight overreaction don't you think. Thank the big boys for dumping and look for an entry point. It's coming soon.
Dialysis patients are not exactly the "healthiest group" of patients. They