I have not sold anything only because I own all my shares under the current PPS and would be foolish to sell. I feel that even with lawsuits we can get above 4 in the next 3-6 months with next quarter numbers being higher due to abstral and we will be getting closer to trial results. This will be toxic for at least another 3 months.
$1.6 for me - core shares
aint goin anywhere - long and strong - been through these raids with arna and especially qcor and others - and for most and especially qcor i have been rewarded very nicely for remaining disciplined and holding my core shares - so this gale raid doesn't faze me one bit
made some really nice trading gains on gale over last few mths even as she has been pounded down which has insulated my core shares very nicely .
I have resisted to add to my core all the way down as I knew this could happen although I admit I thought odds of seeing 2s again were remote. but yesterday was first time I added to my core long term holdings at 2.66 - that is I will not be trading those shares as all other buys since my initial $1.6 buy of I have traded - some in same day and others for a swing trade.
I do feel for the newbies and less experienced folks who took new positions in this over 6 and especially for those who felt they had to sell and took big losses - even "assuming" mgt was guilty of some pumping, u can be sure this whole raid has been so well coordinated even to the shorts contacting the SEC as this is exactly what the shorts did with qcor.
like others have said, sec investigation is of mgt not the company and drugs - I would be more concerned if it was an FDA investigation of the drugs than a sec investigation of the mgt.
all this will pass , Gale fair value currently is $6
Been trading this since $1.60 range. Sold too soon on the rise to $8 but sold a ton of naked puts for an excellent return with that rise.
Just bought first lot today to restore my position. I actually like the Abstral numbers after just 6 months.
Long 100 Jan 16 2.00 calls, The shorts eat what is in front of them, they will move on sooner or later. Pretty typical for small cap bio techs. It will be back. After the dust settles may add some really cheap 7 or 10 calls.