I'm guessing that maybe some of the big boys have been selling shares in order to lower the price and buy call options in anticipation of a run prior to or after its pdufa date. Not too happy to have bought some calls at just below its moving averages a few days ago though to watch it do this the past couple days.
Don't be worried. We are in the high summer, very hot and dry, vacation time, and big concerns on the stock markets about Europe and the US economy. So many people feel unsecure and sell their shares unfortunately. When we see big sell-off it's often the Biotech which are hit first. But....by September there will be big improvements on the overall situation. Be patient. IRWD is a very good compamy and have a strong partnership with FRX (Forest Laboratories Inc.) and FRX will make a take-over on IRWD within a short period of time. FRX is a well established company to market fast the Linaclotide (good sales force-Forest’s industry-leading sales force of approximately 3,000 consistently ranks at the top of the industry in productivity and quality. We engage nearly a quarter million physicians, 3,000 hospitals and clinics, and 500 senior care pharmacies each year. Through ongoing contact with primary care physicians, specialists, hospitals, managed care organizations, and senior care providers nationwide, our sales team has established important drugs as leaders in their categories.) and an excellent manufacturing company (Forest Pharmaceuticals, Inc. manufactures finished products – tablets, capsules, and solutions – in state-of-the-art facilities in Ireland and Ohio. Combined with the company’s leading edge packaging facilities in New York, Ohio, and Missouri, our FDA-licensed U.S. manufacturing operations are capable of producing more than 16 billion solid-form doses and 2 million liters of liquid annually. Our IMB- and MCA-licensed solid dosage manufacturing and packaging facilities in Europe have the capacity to produce more than 4 billion doses each year) !
I have quoted some info you can find on the website of FRX.
Big money is coming in few weeks.
Have a good day.
Another link to show that FRX IS ALREADY PROMOTING THE LINACLOTIDE (IRWD property !!!!) in its PUBLIC PRESENTATION !
Here is the link :
"We expect to hear from the U.S. Food and Drug Administration (FDA) in the coming weeks regarding the approval status of aclidinium for the long-term maintenance treatment of COPD and later this summer we expect to hear on the approval status of LINACLOTIDE for the treatment of irritable bowel syndrome with constipation (IBS-C) and chronic constipation (CC). Assuming approval for both products we will have two new product launches during fiscal 2013."
READ ALL THIS PRESENTATION !
Also FRX has the money to buy IRWD to retain 100% of the profit made on the Linaclotide
I quote FRX :
"Forest remains committed to judicious use of cash reserves to facilitate the growth of our business and the return of capital to shareholders
—$1.4 billion returned to shareholders since 2010 including $850 million in 2011
–Use of structured share repurchase to lower exposure to market conditions and maximize shares purchased
—$2.8 billion invested in business development over last five years ― $2.1 billion on four cash acquisitions and $700MM on initial new product licensing grants
–Use of innovative transaction structures including contingent payments and options to purchase to minimize shareholder capital at risk
—$5.1 billion returned to shareholders over last twenty years
Current capital structure preserves financial flexibility with $3.2 billion of cash and no debt"
So all is on track !
More info. I quote :
"Forest Pharmaceuticals, Inc. (FPI) is a wholly-owned subsidiary of Forest Laboratories, Inc. We have built a solid reputation for delivering our products to those who need them most. Our performance relies on our innovative customer service strategies, state-of-the-art technologies, and cross-disciplinary teamwork – components of our culture that we continuously develop and strengthen.
Headquartered near St. Louis, Missouri, FPI manufactures, distributes, and sells Forest-branded prescription products in the United States and Puerto Rico. Our expansive campus houses Forest’s distribution hub, which moves products from several manufacturing and packaging plants in New York, Ohio, and Missouri to physicians, patients, and caregivers across the country. FPI also supports Forest's national sales force in promoting and delivering our growing line of CNS and cardiovascular products to healthcare professionals.
FPI’s customer support team, including our Medical Information and Communication department, addresses physician and patient questions in a timely and professional manner, reinforcing patients’ confidence in our important therapeutic products."
So IRWD is in good hands (Partnership of 50%-50% with FRX) and when bought by FRX the whole market will be flooded with Linaclotide in the $20 BILLION market !!