Short sighted shortsellers. AF and gang fail to see anything positive.
Is there a 10% chance of getting an approval or an conditional approval for Apaziquone? I think more like 30% chance given the current data. Given SPPI is doing a PIII for multiple instillation and AGN walked does not imply anything about a failure of Multiple instillations, the chance of an approval based on PIII for Multiple instillation is more like 50% and is possibly the same chance of getting an approval based on a new PIII trial for single instillation based on the guidance from FDA.
St. failed to recognize the potential of approval for HGSI even though they redesigned the trial based on the favorable aspects of several failed PIII for the Lupus drug. Result the stock rallied from 40c to $41 post approval.
Day before AF was bearish on ISIS getting an approval for Kynamro guess what happened.
If the retail investors do not have a crystal ball, neither does the #$%$ AF. He is shooting in the dark and betting only 1 off 10 drugs will get approved so he never has anything positive to say about any biotech drug. His trading win/loss ratio is pathetic.
For longs in SPPI or any other biotech, learn to recognize the companies which will survive and stick with them through the BS, bad news and the noise.
I made a big mistake in trading out of ONXX when it dropped from $3 to 0.65 before it started to rally again and guess where it is today, don't know if anyone remembers ONXX's failed head and neck adenovirous based therapy. I can keep going on and on, these are experiences over the past 20 years of trading, investing in biotech stocks.
Longs can listen to the nay sayers, or decide if SPPI is going to be a viable entity in the next 5-6 years by which point SPPI will have more than 3 drugs up for review with the FDA. Big gains do come for longs who will let the shorts sweat.
Wall St. #$%$ have short term memory and are myopic.