Down over $7 today. Astex will be much lower by Monday PM. Remember they have to pay astex $14.8M by 1/14. You will be disappointed by the lack of presenations at asco. Heaven forbid that something spooks the markets. $4.50 will be were this settles, if your lucky.
In the 10-K Nice to see one civil voice on this board.
In addition, we agreed to pay deferred consideration of $30 million in stock, cash, or a combination of stock and cash, to be determined at the discretion of the Company, no later than 30 months after the closing of the acquisition. We made the first payment of $10 million in cash in February 2012, paid the second installment of $2.2 million in cash in August 2012, and paid the third installment of $2.9 million in cash in February 2013. We estimate that the remaining balance of $14.8 million will be paid in January 2014.
Honestly, I wouldn't be disappointed if ASTX pulled back to the high 4s. The 6+ level is going to prove major resistance. It hasn't been this high in years. People should want to sell. But if it breaks 7 or holds 6 without a decline, look for much higher prices.
Amgen disappoints, and analysts predict Gilead and Celgene will also disappoint later this week, so they are down. Big Deal, biotech is still bullish. Celgene has doubled in a year $58 to $118, so they added about $25 Billion in value. They got stuck in the same boat as big bio.
ASTX is small, market cap of only $600 million. Different story. ASTX down 1% while CELG down 7% today. But you feel you must compare the apples and oranges. Need to convince others to help a failing short position? If ASTX retraces to $4.50 without bad news or a setback, I would be amazed. The price action lately shows demand buying on all the dips.