Yeah but you also forget that the monster retrace in share price was due to the expiring of dacogen's patent. The worry of generic competition( Combined with a sudden market downturn) soured investor sentiment and caused traders to back off. One must really dig deep and realize that if a generic version of Celgene's Vidaza was never produced( Controlling 60 percent of global market sales) then why would a company go out of its way to produce a generic version of a drug ( controlling 40 percent of global market share). Common sense doesn't add up and there is no such thing as a 50 percent pullback on a company like ASTX. If at this very moment you are short on ASTX I commend you on your courage and ignorance, If you are long and not buying right now you are an absolute fool because we have bottomed. GLTA
It's easier to copy dacogen. CEO stated that several times. Generics are coming and when they do the street will not discount that. If you think it's factored in, you are fooling yourself. Dr. Reddy's wants this indication and they are after it. I like how one fool is telling you're a fool not to buy it. Really? All I see is unceratinity in this stock. I was happy with that gift and it was a easy decision to sell in the high $6's.
There are a few posters here, hell bent on telling you it should be higher. These are the same posters who were screeming it was going higher at $6.90. Well they knew nothing then and they know nothing now. The same posters at 3am posting numerous replies are the same posters today. You have to ask yourself, one question, is weighbayou remotely intelligent in picking stocks? He claimed a $8.10 appreciation was on the way and what did you get? A $2.90 falling.
It takes no courage for posters like weigh to post ridiculous dreamed up events. Be careful of this message board. They only cost investors $231M as of today. Some of them are the same posters who at $2, didn't think it was going anywhere. Buying opportunity is in the mid $3's.
I called the bottom and it's now up 8 percent since my call while you were telling everyone you weren't a buyer at these levels.... LOL. Oh and by the way #$%$ you can check my post history all the stocks I post on go up.... WAY UP since I started posting. I can assure you bucketsht that the best traders that make real money in this market aren't stroking their ego's on yahoo message boards. Sorry you had to chase when you could have picked up more shares in the 3's like I did. This will not be hitting the mid 3's keep dreaming and chasing because greed will get you nowhere in this market. I love how you post and say your not a buyer at these levels and when it starts running you are MIA and then show up after the first red day. Way to make your worthless agenda obvious.
There is generic versions of Vidaza and Dacogen coming. Dr. Reddy's is on track to have versions in their FY 2014. Celgene anticipates sales of Vidaza will increase in 2013 based mostly on international sales increases. Astex/Eisai see a reduction in Dacogen sales in 2013.
Yes but FY 2014 is not this year. All I am saying is that this retrace is well overdone and that fundamentals as of now have not changed. Investors assume that because generic competition is now open to Dacogen sales will immediately plummet. With this overextended pullback being a fact it will only take a decent earnings report to send this right back up to new highs. Fundamentals are not in control here it is investor sentiment hence why the market takes so long to properly value stocks sometimes ESPECIALLY BIOTECHS. Good luck and thanks for your input