Scary prices here; went back to review my CRIS spreadsheet and confirmed I was still 40-plus% ahead. That was reassuring; they're not going to steal my stock. We are SO being hosed!
Ace, as we have both posted, buyers pay a lot more than current mkt price, but they might get the company now for $6 - 8, because we now know the price can be kept low for as long as the evil confederacy wants it to be for an indefinite period of time. Unless two outstanding pieces of good news hit together, IMO. Maybe CRIS should be out there right now, looking for a White Knight?
Biotech stocks are outperforming the broader market. The SPDR S&P Biotech ETF (XBI 87.47, +0.82) is higher by 1.0% with Arena Pharmaceuticals (ARNA 8.64, +0.57) leaping 6.8% and InterMune (ITMN 7.94, +0.43) adding 5.7%. Shares of InterMune are rebounding after reaching all-time lows near $7.21 yesterday.
The exact reason for the significant moves is still unknown, but the strength within the group may be traceable to the advance made by VIVUS (VVUS 21.33, +0.67) after a company director acquired 5,000 shares.DJ30 -62.63 NASDAQ -5.15 SP500 -4.22 NASDAQ Adv/Vol/Dec 776/675.1 mln/1570 NYSE Adv/Vol/Dec 758/208.2 mln/2141
Yes, longcast -- in my reply to bentbasin I was going to note that the most likely party to buy out CRIS would be Roche itself. You never know what might be behind some manipulation, especially if it means millions of dollars saved.
It doesn't take too much imagination to understand why Roche, which controls the PR strings for Erivedge, would not want to continually hype the involvement of this drug in many and varied NCI trials.
As has been stated by many posters here, a buyout prior to much bigger news such as Pancreatic, Operable, etc., would prove to be disappointing to many of us. I'd love to see some great results for CRIS in other areas than BCC and then get a buyout in the $3-$4B range.
good luck -
We need to watch the analysts' target prices carefully, and hope they hold at the $7 range. If they decline, it could mean [A] that Ev sales are disappointing them, or [B] analysts are wary of the strength of the attacks on CRIS pps. And, could that sweet little Swiss drug company be trying to run down the cost of buying out CRIS?