If they don't someone else probably will.
In further buyout buzz news today, Bloomberg is also reporting that GlaxoSmithKline ($GSK) may acquire its longtime partner Theravance ($THRX) in order to control the respiratory drugs they've developed together. Glaxo already owns 27% of Theravance. Any move by GSK to buy out its partner would look a lot like its acquisition of Human Genome Sciences, although that deal followed years of speculation and didn't arrive until HGS shares had been flattened.
I have to say yesterday I sold all my shares and profitted $2200. I got in at .68 so it was a nice gain. I was patient enough even in the $1+ days in January but didn't want to risk going back to .60s/.70s.
Good luck to all and if it goes back to .60s I may come back.
rakpunj....you asked a couple of weeks ago if anyone thought we'd be lelow $1 and I responded in the affirmative....saying low 0.90s.....actually, I've changed my position and think we might hit0.85 and then a remarkable bounce and the beginning of a big run up to say 1.30s in March
I don't see us going below 0.80s unless Blum is caught molesting science department females AND males.
It's your money....do what you want, of course, but I'm simply going on record again and updating.......I have 10s of thousands of shares and want to buy 7k more at my target price. If we brakout, and I'm wrong, I'll buy higher, but I certainly wouldn't be a seller here or anywhere near here.
Sentiment: Strong Buy
I.held 33k shares right down to. 57. Never lost a wink. Just got a 13k$ cd mature in ira and was worried the price would go high. I hope to bump up to 47k shares when the $ transfer comes. So please keep selling for a few more days all you weak hands. I would happily pay $2.00 for this stock if that was market. But $1stock will get many more shares. And I will welcome you back in the sixties if it ever gets tbere and still wont lose a wink.
Sentiment: Strong Buy
Rakpunj: Taking profits is often a good thing; however you appear to be taking a mechanical approach to investing, ignoring CYTK's unique science and long-term partnership with a world-class biotechs.
I have probably owned 50 biotechs since 2005 and I can tell you that a few multibaggers bailed me out of moderate losses on quite a few small companies. The chance that CYTK will be a $5 stock in the next 12 months is far greater than it being a .60 or .70 stock. This company is not a one-trick pony-it would require a total collapse of all its trials to go to .60(about a 10% probability).
Cytokinetics two drugs Mecarbil and Tirasemtiv are in a sweet spot: high need and sales robust per 2012 for such drugs.
Spending on mass-market meds dropped 1.5% in 2012. It's the first decline, ever, since Express Scripts started tracking the data two decades ago, The Wall Street Journal reports.
But if the sales numbers confirm the long-feared losses to generic competition, they also affirm the industry's new hope. Specialty drugs--such as cancer treatments, rare disease drugs, and anti-inflammatories--took a big leap. An 18.4% leap, to be exact.
Hmm...Amgen is also at the Cowen conference in Boston, presenting on 3/6. Very few major drug companies present at minor conferences, such as Cowen's. Is there a reason Amgen is there?
With Blum and his CFO in Boston I wonder if they'll be meeting with Amgen.