I have been a long for some time because I was investing in the technology but reduced my position after the Invus deal. If you look at the track record of most companies in Phase I, there are usually opportunities to buy right up thru part of Phase III. I bought in sooner than I would have liked to because I thought we would be better funded through the other alliances we have made over the years. I am wondering if Invus is really wanting to wait on the drug approval, or wait for more bad news and take over the company, or sell off some of the drugs as they get into later stage development. I am going to play a wait and see position on my remaining shares.
Well if that was their game, I doubt they would take such a public position, placing 3 key partners at Invus on the LXRX board. Take a look at WTW before/after Invus's involvment (they managed Artel's position). You will want to be long LXRX.