Not a good sign. It looks like we see lower highs and lower lows. This is headed to $5 again. Looks like we had another week go by and only one of the7 trials in LEE011 have started enrolling patients. This is very unusual that a large bio would set up a trial and then not move into it. Pumpettees stated over the weekend I was wrong on second line indication for sgi-110. Apparently they cannot listen or read what was in the fist quarter update. I believe sgi-110 works, but and that's a big but, it doesn't work also. This makes it difficult when survival is the gold standard. Any large trial, will have a huge number of patients who get no benefit. No benefit means no survival. If you have too many getting zero benefit, this weighs on the statistics.
It looks like we see lower highs and lower lows.
Please put on your glasses when you try and read a chart. The high/low direction appears to be up for the last two days.
5/23 High $5.28 Low $4.94
5//24 High $5.45 Low $5.05
5/27 High $5.55 Low $5.16
If you call this up, then you can call yourself a pumpettee. Did this close higher than the day before, think not. It looks today that the institutions are getting sick of this stock. Traded over 1.1M shares and this could get real ugly tomorrow. Just a heads up to the team of excusers.
I think the company has been clear that if they see 10% demethylation, SGI-110 seems quite effective. The question is, how hard is it to find out if a potential patient can achieve this threshold?
There isn't going to be a lot of news coming out anytime soon so you, me and anyone with a brain can see relative weakness until the third quarter. That said, we will see a run up in anticipation of the news later this year on Ph III.
Day traders need to worry about milestone announcements causing a spike. We may retrace all the way down to $4.50 but I believe we will also retest $7 by the end of the year.