were approved 3 months ahead of PDUFA dates. What's taking the FDA too long to approved T-DM1 with its trial numbers? I guess there is a fair chance that approval will be announced last week of Dec. Ho-ho-ho! Should I be adding Jan calls, or will I lose money on those again? No-no-no!
lately, biotech stocks that run up in advance of FDA are being sold on the approval news. IMGN has not exactly run up, but has moved up some from being massively oversold. I would not be surprised to see the immediate reaction as a sell, or if there is a sharp move up, shorts will sell hard into it then covering/accumulation should start. Shorts have to show they are still in control and seem to have unlimited selling resources. Take a look at ARIA, $25 to $20 to $24 just before approval then sold off to $19 after the approval and is now in the covering/accumulation mode IMO, but I am not playing it. If you are buying calls, go in the money and give it some time. Premiums are low, so expectations are also low. It might take a few quarters of large sales data of some other clinical progress to change the expectations.