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Astex Pharmaceuticals, AŞ Message Board

  • jelly1126 jelly1126 Jan 31, 2008 7:02 PM Flag

    What's up (or down)?

    Has anyone had a chance to listen to the Wachovia presentation?

    "SuperGen's presentation at the Wachovia 2008 Healthcare Conference is scheduled to begin at 10:45 a.m. ET."

    I can't listen at work, but I noticed that the timing coincides (more or less) with the major deterioration that occurred after noon today.

    Did Tim blow it?

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    • Today is no great mystery Look at the volume compared to recent average of less than half million shares. It was a institution getting out. There is no grand conspiracy to get stock from small retail investors. This is the most ridiculous thought I read on this board. The fact is as I have stated many times is institutional sentiment is that EORTC results suck. End of story. If US sales continue to ramp, AML trial prodcues good results, S110 moves forward, MP470 advances we will be fine regardless of EORTC where anything less than a disaster will now be viewed as positive
      These are very trying times to keep the faith, Im still not sure these attacks against Dr M are warranted . I dont think his buying some stock would convince anyone of anything Besides he has enough options already.
      Just need to be patient. With the cash position rising and stock falling at some point Eisai cannot resist buying this

      1 Its always darkest before the dawn
      2 Now is the time that trys mens souls
      3 When the going get tough the tough get going
      4 Keep the faith

      Choose one of the above or add your own

      • 2 Replies to batzem
      • Maybe the institution that got out caught wind of the YHOO deal and got out of SUPG at any price they could. I know I'm stretching, but it could be something as innocent as that.

      • <<Im still not sure these attacks against Dr M are warranted .>>

        batzem, while I will admit to contributing to the clown suit, it really was in jest. You know that I have supported him. But think about it. The guy gets a $350K bonus for his accomplishments during the year.

        What did he accomplish?

        Don't shareholders have a right to ask this question? If Manuso doesn't want to answer it, maybe he should pass the question on to the compensation committee. Let them explain their actions.

        I am not sure exactly what his salary is, but I would bet that it is $350K or less. If so, that would mean that he received a bonus equal to 100% (or more) of his annual salary. Doesn't that seem a bit outrageous in light of a stock that is hitting multi year lows and threatening to hit historic lows?

        I get a bonus... it is geared toward company performance, including earnings targets. My bonus is targeted at 15% of my salary. It won't happen this year, but it could be as much as 20% if the metrics were all exceeded.

        Even my CEO doesn't get a 100% bonus. (Although she does get stock options that I don't get.) And she actually accomplished stuff this year.

    • Jelly,

      I believe that the sell off was unrelated to the presentation. Most of the sell off occurred before the presentation in the last two hours of trading yesterday and the first hour of trading today.

      I listened to the presentation. There was nothing bad about it unless there was some announcement expectation by some big share holders that didn’t occur. It was close to what I expected. I was disappointed by the fact that there were no accompanying slides and the webcast terminated during the Q&A session while Tim Enns was replying to a question. I was left wondering what else we may have missed because of the premature termination of the webcast.

      • 1 Reply to voltrailrider
      • <<Most of the sell off occurred before the presentation in the last two hours of trading yesterday and the first hour of trading today.>>

        The presentation was supposed to have started at around 10:45. The stock traded down to that point, but only to the point of having given up all of yesterdays gains.

        If you look at the day's chart,

        You can see a distinct surge in volatility and acceleration to the downside that began around 11:30.

        Later, there were some larger trades going on, and most of them seemed to have occurred during downtrending periods. Check the volume and direction from about 2:10 to 3:10.

        It's hard to tell because it is so close to the edge, but there appears to have been a 200,000 share sell that occurred just before the close.

        I hate to see this type of action on a high volume day.