It will take a year to have drug return to the market
ELN's Tysabri took a year and have FDA reapproved with label & it is third line drug.
So I think drug will return to the market with black label warning approved by FDA and company need to know the reason caused the death. If drug does return to market a year later. I think AFFY worth $5-$7. If not, then drop back to $2 and below.
I've seen dnwang on the ACAD and CYTK boards and I think he's legit (not a crazy pumper). I'm speculating the reason for death was anaphylaxic shock and that sensitivity to the drug will be determined through blood/skin test.
Unless we've been misled and this turns out to be not anaphylaxic shock then I just can't see why the drug does not go back on the market. I'm expecting the price to eventually return to $15 so if it takes a year to get a 600% return (bough at 2.45) then I'm good with that.
I guess I'm a little bit more optimistic the market will be more forgiving because this is just an allergy to the drug and not something like cancer.
The drug works, but 0.2% of people are allergic to it and probably should not take it. Right now I just think the stock has been beaten down with fear.
Yes, I am not pumper (so people think I am short, LOL)
1. Company CEO said he has no idea why caused the death. Now investors know more than the CEO?
2. Once drug pulled out of the market. It will take a while to return to the market. FDA needs to review it again.
3. AFFY is one drug pony. Without this drug, company is going to burn cash with no income
Your shares at $2.45 should be OK. But $15 in a year I think that is a dream.
What is my intention? My intention is simple. I am long but with cautious.