Well, that was painful and will probably be more painful before it gets better. Looking at the message board, it seems there is some confusion out there. I recommend everyone check out jjgiablue's thread on the New Leerink analyst comments or a seeking alpha article on vosaroxin by Ventures, it's a little old but very easy to understand. Jjgiablue rightfully pointed out that the monotherapy arm had a high hurdle. Listen to the CC. There is still the combination arm readout later this year. Also remember that the Cardiff study has nothing to do with Valor. The Cardiff study was for frontline AML and Valor is for relapse AML.
Bad news it is, this will definitely erase most of my gains made over the last year. The premarket looks predictably ugly. It is interesting to see the headlines regarding the DMSC have been pulled and replaced by the kinder gentler headlines about earnings. SNSS is an institutional stock I wonder how it Blackrock and company will respond?
Fjoe, you make a clear distinction about the Cardiff study and Valor however this is analogous to a weak grounder back to the pitcher in the bottom of the ninth for out number one, and no one can feel good about our chances with this outcome until batter No. 2 delivers.
Msq Nice analogy! It's very apt. I agree with you. This is definitely not good news but as you point out, the game's not over yet. I'm also very curious and a little apprehensive as to how the institutions will react. Did you notice the T W Price Health Services fund buy? I didn't see it earlier and though other sites may have already reported it, Morningstar reported it today as of 6/30, over 1.2 million shares .
Thanks for the reminder #$%$! I want to present some thoughts on what I think today's activity will be like. This morning I think that the selling will continue as it did after hours, but I think that will abate late morning and we will see some buying in the afternoon. My thought here is that the Institutions and the Hedge Funds will take the opportunity to buy more shares on this sell off, particularly if the stock stays above $5. This stock is already heavily owned by these folks and there is not a high percentage owned by "we" retail folks. We will feel the sting this morning but I believe we will stay over $5.00 for the day.