I cannot believe long term "investors" are selling as a result of CC.
CC was not that bad. Questions centered on MM-398 and especially MM-121. Company claims to have enough cash through 2015; i.e. no more equity issuance. Selling at new lows must be by shorts or capitulating speculators.
Shorts should fear (and longs hope for) insider buys at these level. I will be surprised if any analysts materially downgrades outlook as a result of CC. Did any of you detect analyst disappointment on the call?
I'm a LT investor for MACK but I also understand the selling and expect downgrades. Ask yourself how important MM-121 was for your investment thesis and go from there. For me, a majority of my investment was for a hit with ErbB3. A positive trial result in signal inhibition would validate the network biology platform. This is now the second trial (lung last winter) where we were told they did not meet the primary endpoint and likely will not. Lung I wrote off as exploratory, this one I can't. I'm not selling but your not being honest with yourself id you say the CC was not bad. The PR was not bad, the CC was bad. Valuation, is a separate issue. On a risk reward basis given 121 in Breast is still an option as well as 111 I'm holding. MM-398 still looks promising but this is nanotechnology.
As you can tell, I do not go on this board often as I'm just replying now. Hate to burst your bubble but TSRX is the only biotech since 2007 I have held for less than a year. I'm not sure what constitutes a LT investment but I build positions for typically 2-5 years. I do not know you, have no reason to lie. As for why I'm not buying more, I have already bought 4 times (more than usual for me) and down 40%. I"ll add after I see some positive data.
I did. And will buy more if it goes lower. I prefer to be a speculator but only speculate in stocks I think attractive enough to be a long term "holder". There are no "investors" in this market - we are all speculating how long the Fed will continue pursuing a course it does not expect to work!