I am a newbie to this stock, but not to Biotech stocks. The compounds are good and in fact really the best for lung. Pipeline is fantastic and my doctors like it.
They have cash flow issues and coulnd't sponsor the trials needed to bring the drug to the market.
Observe the events:
1) Insiders bought huge amount of offering and loaded up.
2) Got the guy who knows how to stage and company and sell it off (Biotech realtor)
3) Fantastic compounds that are farther along the line and robust pipeline.
Expect a buyout in few weeks/months around $11....
I spoke to couple of doctors who saw the data and they said it is a clear winner....
Best for lung? You're kidding, right? Why the selloff after GALAXY-1 results?
1) Insiders have bought huge amounts of shares at each offering over the last 3+ years. So nothing special.
2) What guy are you talking about? Steven Bernitz? If so what companies has he staged and sold off?
3) There are not any other compounds further along the line, nor do they have a robust pipeline at this time. Ganetespib is it, plain and simple.
Finally, it's breast cancer treatment not lung cancer that holds more promise for patients and in turn shareholders. Unfortunately, the company has stated that ENCHANT-2 is contingent on a partnership.
So your expected buyout timeline and price target is ridiculous.
I've seen many, many posters like you over the last 3+ years of being in and out of this stock. They make incorrect statements, predict stock prices/buyouts/partnerships/trial results, etc. etc. then disappear when they're wrong.
On target once again Syenfout. Breast cancer is the most promising area for Ganetespib, but it is very early stage. We need to see some data for higher numbers of patients with Ganetespib as monotherapy, and perhaps more importantly, in combination with Paclitaxel. Management makes me angry with their incompetence. The Galaxy-1 and 2 Lung cancer trials are still viable, but the chances for success have been reduced. In any event. we will know more about Galaxy-1 in a few months when the final data comes in. Funny how that pumper Ivan has disappeared.
I am out with nice profit. Today is irrational exuberance by short covering and margin calls, without really reading and understanding the label. I will buy again when it goes back to $5s. Next week it will head back to $5s.