I am new to the board, but not the stock. I will not be an active poster. Bottom line, if Ganetespib is approved for just one indication, then this stock is 30+ with ease. Based on my significant due diligence, in my opinion, we have a really good chance. If Ganetespid flops across the board, we are toast. So clearly this is a speculative stock. I am bullish on SYNTA because their Hsp90 inhibitor, Ganetespid, has great safety data, and has shown significant activity in phase 1 and 2 trials. Will this trend play out in phase III studies and result in an approval? Place your bets. If approved for more than one indication, than pick a number over 50.
My concerns with this stock, as in the development of any new drug, is a phase 111 flop, or maybe a long term market melt down, which will take no prisoners. Money in the short term will not be an issue if the data continues positive. The company still talks of one or two deals, and I am sure bankers are clamoring to raise them money.
I do not invest with rose colored glasses. So I respect any bear on this stock if they present well thought out counter arguments based on factual, detailed science against Ganetespid. Nobody on this board cares about somebody's macro view on the market and economy or if we should buy gold or silver. Most of us, including myself and the "pros", are horrible at predicting market movements anyway.
Retesting 3 is possible. With so much volatility in markets worldwide things can and do change quickly and any company can be impacted. SNTA is no exception. I'm not one for trading (never day traded), but I have moved in and out of SNTA a few times over the past few years and as a result most all my shares are now "free." No matter how bright the future, I'm sticking to my plan (for now) and will not add unless we retest closer to 3...with all the uncertainty in markets world wide, this remains a possibility, IMHO. If the run continues I'd be very happy and if we retreat, I might add.
I like all your comments and common sense. But I can't speculate about target prices because IMHO we are still to early - besides I don't have that expertise. And unfortunately I've seen too many companies (biotech and high-tech) drop like a stone even after approvals or because the "sure thing" never became reality. For that reason I take analysts' targets and cut them 25%, but that's just me. I remain long SNTA and also diversified.
Here's hoping SNTA contributes to our XMAS 2012. Happy holidays.
Mark this post: Synta is the new Onyx and will reach a comparable market cap within not so long. Our HSP 90 is not only good, its a slam dunk. Never have I been folowing a drug that as exhibited this good results before in the most stubborn of cancers, namey NSCLC. This will reach 30 when approved and the ph 2 to 3 will glide through approval like nife through butter. Happy weekend from Dr. Ving.