VVUS ran from 9 to 30, ARNA from $1 to $13.50, AMRN from $6 to $16 before dipping. IRWD didn't run into early approval
HUGE difference is that the co's traderq mentioned all had HUGE runs befroe approval and of course backed off afterwards but are still up huge %. IRWD never ran because of the 3 month PDUFA delay and shorts lying that the new Ph 3 meant no approval. Trust me - the shorts hammered this right after the halt because they were caught by suprise - they had no chance to scare you and cover before the pdufa. They are in some real trouble here. I added a lot in the 11s and will buy more tomorrow. BEST CASE early approval per JP Morgan with $21 target - blockbuster by 2016.. Morgan Stanley hugely positive - one of best stocks in bio universe it covers.Jeffries says $2 billion a yr drug - most important approval in yrs. Caris says buy.
Knee jerk is to sell approval after run up - the shorts do it automatically. Problem is with the early approval IRWD never ran into approval like these others - so yes shorts can keep it down a couple of days - but how will they cover? JP Morgan says BEST CASE approval - both men and woman and no duration limits. We hear international partner discussions onging. We hear Forest reps already in Drs offices of 80% of our potential patients. 10 million people actively visiting Drs who are not happy with the current treatment. I am buying their short attempt