yep. seems like dendreon helped demolish the credibility of the entire biotech sector in the last few days. Look at Seattle Genetics, got a 10-0 approval from FDA advisory committee and stock down from $21 to $14. We might get a little lift once the ph3 in Asia kicks off. Arql would not say if milestone would be due but for a ph2, they got $5m from Kyowa so my guess is there will be a pay of $10 or $15m. Anyway, who knows what happens next...this could be one heck of an entry point for buyers out there.
sucks to be right sometimes. My guess is we just have to wait it out...I think once we're thru the summer months, things will improve with biotech. I was hoping we'd see announcement about p3 in asia for 197/erlotinib. nothing on hcc...doubtful we'll get big news there...we'll see, we might get lucky. Other biotechs I follow: sgen, exel, etc all getting hammered...hunker down time.
Take a look at the longer term chart.... this is a cheap cheap stock based on revenue and earnings growth... esp given the results recently.... just a typical pullback before it moves higher in the general uptrend